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Here’s two big reasons to doubt the global boom

Most of that wealth arose in tech. The crackdown has been cast as a healthy move to contain monopolies, or as a state bid to gain control over big data. It is, however, also an unsurprising response by the Communist party to this unprecedented explosion in wealth and inequality. This new campaign follows an old […]

Rising Covid cases spark fears of resurgent pandemic in US | Coronavirus

A rapid increase in coronavirus cases in the US and abroad is fueling fears of a pandemic resurgence and on Monday sent shockwaves through the stock market as the highly contagious Delta variant takes hold – and Joe Biden urged Americans to “please, please get vaccinated”. The number of new cases, hospitalizations and deaths due […]

Dow slides more than 900 points on delta variant fears

Around 1:30 p.m. Eastern time, the Dow Jones industrial average was on track for its worst day of 2021, trading down nearly 930 points, or 2.7 percent, at 33,758. The S&P 500 index had skidded 2.1 percent to 4,235, and the tech-heavy Nasdaq had fallen 1.6 percent to 14,200. Read more…

Have a seat: Patio furniture shortage tells U.S. economic tale

COCKEYSVILLE, Maryland — People used to go to Valley View Farms to buy five tomato plants and end up with $5,000 in patio furniture. This year is different. After a record burst of sales in March, the showroom floor is almost empty of outdoor chairs, tables and chaises for people to buy. The garden supply […]

METALS-Copper falls as dollar firms amid virus worries

July 19 (Reuters) – Copper prices fell on Monday as the dollar hovered near its highest levels in months, making greenback-priced metals more expensive and less appealing to holders of other currencies. Daily new coronavirus infections have been surging from the United States and Europe to Asia due to the spread of the Delta variant, […]

Why the economy could make or break Biden’s presidency

Now with President Joe Biden in the White House, it looks as though politics may be returning to a degree of normalcy. Americans’ views on the economy could once again tell us who is going to hold congressional power after the midterms. Recent polls show a high correlation with how voters feel about Biden’s performance […]

Uptick in India’s headline inflation: A transitory phase

While economic growth remains the main focus, elevated inflation may ask for some attention. For a second consecutive month the headline inflation rate, CPI (Consumer Price Index-Combined), has been above the 6 percent range of the central bank. The year-on-year percentage change (YoY%) print for June 2021 has marginally eased to 6.26 percent from 6.30 […]

A heatwave hits the economy

It’s not just temperatures which have shot up this week. The Central Statistics Office (CSO) confirmed that the economy, or at least parts of it, is going through a definite heatwave of spectacular growth. We also learned through the Summer Economic Statement that the Government intends to borrow a lot more money than had been […]

Taiwan’s falling birthrate ‘threatens its economic security’

TAIPEI — In February 2020, Gao, a 32-year-old administrative officer working in the Hsinchu Science Park, a technology hub southwest of Taipei, fell over in the office. She was pregnant, a doctor told her, but her excitement ended when she was abruptly dismissed by her employer, Dase-Sing Packaging Technology. The company said the COVID-19 pandemic […]

Dollar stuck in a narrow range

The US dollar continued to trade volatile within its 92-93 range last week as well. The index surged on Tuesday following the US inflation data release. The US Headline Consumer Price Index (CPI) inflation rose to 5.32 per cent (Year-on-Year) in June from 4.93 per cent in May. The US Core CPI surged to 4.45per […]