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Friday, 18 September 12:05 (GMT -05:00)



Business And Politics News

U.S. Labor Market Disappoints, Economy Slows Down


The employment rate in the United States increased by 167.000 people in July 2020. It's important to mention the fact that the data came in much worse than expected. According to Reuters, this increase was expected to reach 1.5 million people. At the same time, July's figures were much worse than those revealed in June 2020.
 
Pandemic Affects U.S. Labor Market and Entire Economy
 
The employment rate increase by 167K people, according to ADP, is the result below Bloomberg's expectations, as well. The experts used to expect a 1.2-million-people increase for the reporting period. As we have already mentioned, this is way below June's increase of 2.4 million people. However, the PMI figures cam in slightly better than expected.
 
According to Bloomberg, the coronavirus pandemic is the key reason for the economic slowdown in the USA, and the entire world. JP Morgan experts say the ADP figures, though better than expected, still assure then that the U.S. economy has been slowing down over the last few weeks.
 
On the same day, the PMI figures were published, coming in at 50 points and 50,3 points (for PMI Composite) against 47.9 points in June and 49,6 points expected this time respectively. For those of you who don't know, a value above 50 points means recovery in the sector.
 

 

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Raygan's Former Advisor Accuses the Fed of a Big Fraud

The former budget advisor under Ronal Raygan's administration, of the founders of the so-called Rayganomics, David Stockman, is a big adversary of the Federal Reserve's policies. He thinks that artificial interest rate cuts coupled with uncontrolled QE (money printing) creates madness in financial markets, thus separating asset evaluation from their intrinsic value of those assets.

Publication date: 23 August 07:32 AM

iPhone as a Payment Terminal: Apple Bought a Startup For That

Apple has recently acquired Mobeewave, a startup specializing in online payments. The price of the deal is 100 million dollars. According to Bloomberg, the company's technology may allow Apple to turn iPhones into mobile payment terminals accepting mobile payments. To be more specific, Mobeewave developed a technology making it possible to make financial transactions between mobile devices through the built-in NFC module.
Publication date: 05 August 09:27 AM

China Makes Blockchain Professions Official

There are 1838 officially recognized professions in China. Now, there list is up by 2 professions - blockchain engineer and blockchain app operator. The Chinese Ministry of Human Resources and Social Security (MOHRSS) has recently confirmed that by updating the list of official professions.
Publication date: 20 July 11:42 AM

South Korea Invests Billions In Blockchain Technologies

By 2025, South Korea is planning to invest over 48 billion dollars in  blockchain. The goal is to digitize all of the industrial sectors of the national economy in this post-pandemic era. According to ZDNet Korea, the president highly rated some of the benefits this process may bring to South Korea.

Publication date: 18 July 09:40 AM

Black Lives Matter - Investors Keep Ignoring Major Riot In US In 50 Years. Why?

Everyone has probably heard of the #BlackLivesMatter riots, which have been going on in the United States for a while. However, international financial markets seem to have been underestimating this event, which happens to be the biggest riots in the USA in 50 years! Why is that?

Publication date: 18 June 07:56 AM

Donald Trump Influences Bitcoin Exchange Rate

Publication date: 05 June 04:42 AM

Only 4 Of All Existing Billionaires Made Their Fortunes With Cryptocurrencies

Forbes has recently published the list of 2095 billionaires from different parts of the world. It turns out that 4 of them owe it to cryptocurrencies. Who they are, the cryptocurrency billionaires?
Publication date: 13 April 11:54 AM

Life After Brexit: EU-UK Talks Are Underway

Publication date: 07 March 09:03 AM

USA May Take Steps To Support National Economy After COVID-19 Pandemic

Publication date: 07 March 08:15 AM

Fed Cuts Key Interest Rate For The First Time In 10 Years

The U.S. Federal Reserve is reported to have cut the key interest rate, which is something really outstanding since the Fed has done it for the first time since 2009.

Publication date: 11 August 03:05 AM