Companies from PayPal to Bank of America are getting ready to issue their own stablecoins as regulators take a softer approach and Donald Trump’s enthusiasm for cryptocurrencies has given the idea new energy.
Tag: Global Economy
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RUSSIA SOCKS CHINESE CAR IMPORTS WITH TARIFFS
Someone other than Donald Trump has a trade beef with China. Russian officials have put a fee equivalent to about $7,500 on Chinese passenger vehicles coming into the country.
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BANK OF CANADA CUTS INTEREST RATE BY ANOTHER QUARTER POINT
On 12 March, as expected, the Bank of Canada took another quarter point off its key interest rate, lowering the rate to 2.75 percent.
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TRILLION-DOLLAR SELL-OFF HITS INDIA’S STOCK MARKETS
A prolonged slide in India’s stock values has erased $1 trillion in value from investors’ holdings. The flagship Nifty 50 index has retreated 14.5 percent from its September high. The Sensex, a catalog of 30 major companies traded on the Mumbai exchange, has dropped 13.9 percent.
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U.K. GDP SHRINKS IN JANUARY
The U.K.’s economic activity contracted by 0.1 percent in January, surprising economists who had foreseen a 0.1-percent increase that would have built on December’s 0.4-percent gain.
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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
Federal job cuts continue this week with President Trump signing an executive order on March 14 stating “the following government entities shall be eliminated… and such entities shall reduce the performance of their statutory functions and associated personnel to the minimum function presence.”
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IMF UPGRADES CHINA’S 2025 GROWTH FORECAST
Thanks to a new flurry of stimulus measures, China’s economy is likely to expand by 5.4 percent this year, the International Monetary Fund (IMF) said, upgrading its number from its 5.0-percent forecast last fall.
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CANADA’S JOB GROWTH SLOWS IN FEBRUARY
Canada’s economy needed only 1,100 new workers in February, frustrating analysts’ expectations that the country would add 20,000 jobs for the month. The unemployment rate held steady at 6.6 percent.
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ECB CUTS KEY RATE TO PROTECT AGAINST SHOCKS
On 6 March, the European Central Bank (ECB) shaved a quarter point off its key interest rate, dropping it to 2.5 percent.
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