On 17 July, the U.S. House of Representatives passed the first federal legislation governing stablecoins, legitimizing their broad use in finance and commerce. The 308-to-122 vote was broadly bipartisan.
Tag: Economy
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TOP TREND 2023: OFFICE BUILDING BUST
An expected recovery in Europe’s commercial real estate market has failed to materialize, leaving property prices close to their lowest in almost a decade, Reuters reported.
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EU IMPOSES NEW SANCTIONS TO PUNISH RUSSIA AS PEACE EFFORT CRUMBLES
The European Union (EU) announced its most significant sanctions yet against Russia and countries that do business with Moscow in an effort to hurt the country’s economy over its ongoing war with Ukraine.
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JAPAN’S EXPORTS DECLINE FOR A SECOND MONTH IN JUNE
After dropping by 1.7 percent in May, Japan’s exports shrank another 0.5 percent in June, year on year.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The U.S. Department of Labor announced this month that “native-born workers” have accounted for all job gains since January amid historic immigration crackdowns.
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SPOTLIGHT: BIGS GETTING BIGGER
Merck, the New Jersey drug giant, is paying $107 a share, or about $10 billion, to acquire Verona Pharma, a London company that makes a respiratory treatment that could bring $4 billion in annual sales in the next decade.
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SPOTLIGHT: CHINA’S ECONOMIC UPS AND DOWNS
In June, the prices China’s factories charge for their products fell the most in two years as the U.S.-China trade war continues and domestic competitors are locked in a vicious price war to hold their shares of a shrinking market.
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SPECIAL REPORT: OIL GLUT AHEAD
During the rest of this year, oil supply will grow three times faster than demand, according to an analysis by the International Energy Agency (IEA) in its new monthly report.
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WPP REPORTS DECLINE IN NEW BUSINESS
WPP, regarded as the world's second-largest advertising agency, cut its guidance for 2025, saying revenue will be down by 3 to 5 percent compared to 2024.