A group of African nations is establishing a cross-border payments system that does not use the dollar as a measure of value, despite threats from Donald Trump, who is bent on keeping the dollar front and center in global trade.
Category: 24 June 2025
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SPOTLIGHT: BIGS GETTING BIGGER
After awakening from a post-COVID lull last year, the pace of M&A deals slowed again this year as investors waited to see Donald Trump’s plans for tariffs and how they would impact the economy.
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TOP TREND 2025, WILD CARD: BANK OF ENGLAND HOLDS INTEREST RATE STEADY
The day after the U.S. Federal Reserve decided to keep its interest rates where they are, the Bank of England (BoE) did the same, holding its policy rate at 4.25 percent.
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FUEL PRICES SPIKE IN EUROPE AS MIDEAST WAR HEATS UP
Since Israel escalated its attacks on Iran on 13 June, the price of jet fuel has rocketed up 45 percent and diesel fuel by volume costs 60 percent more than crude oil, the Argus data service reported.
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CANADA’S CENTRAL BANK: TRADE WAR COULD PROMPT JOB LOSSES, RATE CUT
Officials at the Bank of Canada (BoC) are closely tracking job losses in manufacturing and other parts of the economy most exposed to Donald Trump’s 25-percent tariffs.
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CENTRAL BANKS WILL CONTINUE STOCKPILING GOLD
In a new World Gold Council survey, 95 percent of the more than 70 central banks responding said they expect to add to their gold reserves this year and that their dollar reserves will decline over the next five years.
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CHINA’S ECONOMY WEAKENED AGAIN IN MAY
China’s factory production rose 5.8 percent in May from a year earlier, down from 6.1 in April and marking its weakest performance so far in 2025, the National Bureau of Statistics reported.
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PERFORMATIVE STRIKES, PERFORMATIVE PRESIDENT
The Times of Israel’s headline today said it all: “In a foul-mouthed tirade, Trump savages Israel for striking Iran, says it violated ceasefire.”
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U.S. PREPARES FOR POSSIBLE CONFRONTATION IN STRAIT OF HORMUZ
The U.S. Navy is preparing to respond to the possibility that the Iranian military attempts to close down the Strait of Hormuz amid its ongoing war with Washington and Israel.
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U.S. TAXPAYER MONEY STOLEN: U.S. ‘RACES TO HELP’ ISRAEL AS IT LAUNCHES AIR DEFENSE MISSILES AGAINST INCOMING IRANIAN MISSILES
The Israelis knew that the U.S. would join its war against Iran and, although Tel Aviv is reportedly burning through its missile defense systems, Washington, like the devoted little puppet that it is, is making sure Israel has enough stockpiles to thwart Iranian attacks.