Tesla has been forced to cut its prices in China as local competition from firms such as BYD and Xpeng intensifies. The price of their cheapest model in the China market has decreased by 5% […]
The UK government has announced the largest tax cuts in 50 years as part of their mini budget to deal with the cost of living crisis and boost the wavering British economy. The UK economy […]
Yvon Chouinard, the billionaire founder of the outdoor clothing brand Patagonia has announced his intention to give away ownership of his company to a trust and non-profit organisation. The new ownership structure will ensure that […]
The government of New Zealand, a country notorious for having more sheep than people, has proposed a creative way to fight the impending climate crisis – a tax on the flatulence produced by cattle and […]
The UK inflation rate is rising at its fastest rate in 40 years. This is predominantly a result of soaring fuel and energy prices, as well as recent pressure on food costs. Year-on-year inflation for […]
Price goes up, quantity demanded goes down – it is the law of demand and economics 101. Not in the case of Tesla apparently! The electric car manufacturer has recently announced soaring profits of $3.3 […]
On April 1st, the new UK plastic tax will come into effect. The levy on firms will charge £200 per tonne of plastic packaging containing less than 30% recycled plastic. The UK government, who announced […]
Filipino drivers to receive fuel subsidies as oil prices rise […]
Following a high court ruling about Uber’s relationship with their customers, the price of each ride may be about to increase by 20%. The business was previously operated in a way whereby customers entered into […]
In an attempt to lower the price of oil the US is leading an international effort of other major economies to release oil reserves. The price of crude oil reached a 7-year high of $81.93 […]
The gas price surge across Europe has led to the collapse of two small UK gas providers. Avro Energy and Green, who between them serve just under a million customers, have gone bust due to […]
Saudi Aramco, a state-owned energy company in Saudi Arabia and the world’s most valuable company, has seen year-on-year profits almost quadruple in the second quarter of 2021. The firm, which is also the world’s largest […]
A new drug to treat Alzheimer’s has just been approved in the US but there is one big catch… it is really expensive! Priced at $56,000 for a year of treatment, the producer Biogen are […]
According to the latest UN figures, the Chinese economy attracted $163 billion in foreign direct investment last year. This 4% year-on-year increase is in contrast to the US economy’s 46% decline from $251 billion in […]
Fortnite, one of the most popular mobile games worldwide in the last few years, has been locked in an intense battle with Google and Apple since August 2020. The creators of the popular open world […]
2020 is a year to forget, but we won’t… and despite the economic woes from all over the world, the Chinese economy still managed to finish the year slightly bigger than it was 365 days […]
Tata consumer products, a subsidiary of the Tata Group, one of India’s largest and most successful conglomerates, is in talks with Coffee Day to acquire the firms vending machine business. The move would bring another […]
In the last few months, American consumers have been going mad for online shopping, with the result being a buoyant shipping industry across the transpacific. In these coronavirus times, consumer demand for household goods has […]
The unemployment rate in the UK has risen to its highest level in two years, with an official figure of 4.1% released by the office for national statistics. Given the devastating impact of Covid-19 on […]
Biscuit fans beware, if either Jamie Dodgers or Wagon Wheels are amongst your favourites, the followings news may be distressing. Production of Jammie Dodgers and Wagon Wheels could be stopped this month as factory workers […]
According to research from Oxford Economics in 2019, up to 20 million manufacturing jobs could be replaced by robots by 2030. If we then add in those jobs from other sectors which could be easily automated, […]
Since the UK government introduced a 5p charge for single-use plastic bags in 2015, millions of shoppers are now choosing not to use them. In data compiled by the UK government, it was found that […]
What happens when you’ve got too many nuts, and not enough people to sell them too? Easy… you lower the price! That’s the price mechanism in a nutshell… This is exactly what is happening in […]
In a move which could transform the nature of the food delivery industry, Jitse Groen, the CEO of Just Eat Takeaway, has recently announced that he would like to shift the firm’s employment model away […]
Governments need to keep track of their spending just like we all do. If they spend more than they earn, just like our bank balance goes into the red, so does theirs! This is commonly […]
Tesco, the UK’s largest supermarket chain, has reached out to their suppliers and asked them to ‘kindly’ reduce the price of their products. In an attempt to reduce their costs and compete with low price […]
As Covid-19 shows no sign of abating, the damage it has caused to the global economy continues to grow. As a result, the IMF is now predicting a global economic contraction of almost 5% this […]
As economies around the world continue to be shattered by the economic consequences of Covid-19, millions of business have found themselves running out of cash. Stemming from huge declines in demand for almost every good […]
The aviation industry has been one of the hardest hit by Covid-19. With countries closing borders and people ordered to stay at home, the demand for air travel has plummeted. The result has been a […]
One thing we will learn from this pandemic is that when people see a crisis coming, they buy A LOT of toilet paper. The surging demand has been one of the most fascinating and […]
Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as 9% from April to June. This further decline in size, following a 0.3% contraction in […]
The president of France, Emmanuel Macron, announced this week a fiscal stimulus of €8 billion to help the French car industry. His government are hoping that the cash injection will not only help domestic auto […]
As the world’s economies continue to reel from the damage caused by the spread of Covid-19, Supercar manufacturer McLaren is the latest company to announce a huge wave of layoffs. The British based firm is […]
The inflation rate in Canada entered negative territory in April, as year-on-year inflation was measured at -0.2%. This essentially means that the average price level in Canada was 0.2% less in April this year, than […]
The latest in a long list of ‘historic lows’ since Covid-19 wiped out the global economy is the total collapse of the American retail sector. Data released by the US Census Bureau has shown that […]
India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown for over 50 days. The impact of such a widespread stay-at-home order has had a […]
In recent years, the automotive industry has experienced a number of mergers leading to the market becoming increasingly dominated by a few large firms, who by joining forces are only getting larger. The proposed $50 […]
Saudi Arabia, the second largest oil producing nation in the world, has for the last few years been trying desperately to diversify its economy and reduce their dependence on the export of oil. Despite being […]
The housing market in the US has had a strong rebound since the financial crisis of 2008. After house prices plummeted just over 10 years ago, the last decade has seen a strong and steady […]
After coming to a grinding halt in February this year, the Chinese economy is open again and gradually returning to normality. The first sign of this is that the air is hazy once again, which […]
The stats are now out on the performance of the American economy for quarter one of 2020, and it’s not good news. According to the US Bureau of Economic Analysis, the world’s largest economy contracted […]
In this crazy new world we live in where everybody stays at home, one company which has benefitted hugely and seen soaring sales is the online e-commerce giant Amazon. As Covid-19 has continued to cause […]
According to a report released by the World Trade Organisation (WTO), there is a growing number of countries around the world who are placing restrictions on exports in order to secure domestic supplies of certain […]
Netflix and chill? Yes please, but not with a Coca-Cola. Recent announcements from these two corporate giants have given us an interesting insight into consumer trends and how staying at home is affecting demand differently […]
Since the outbreak of the coronavirus in January this year, there have been numerous economic events which have been simply unprecedented in their nature. The latest of these, in the wacky world of Covid-19, is […]
Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses closing across all sectors of the economy, millions of people have been forced into unemployment. […]
China’s unbelievable economic growth streak of over forty years has finally come to an end today, with the world’s second largest economy recording a negative growth rate of -6.8% in the first quarter of 2020. […]
The market for oil could be set to rebound following the announcement from OPEC that a deal had been reached between the Saudi-led cartel and other major oil producers around the world. This should bring […]
The global fashion industry, valued at over US$2 trillion, has been hit extremely hard by the worldwide spread of Covid-19, resulting in business closures, loss of jobs, and plummeting sales throughout the whole supply chain. […]
For a student of economics, one of the first concepts we learn about is the different types of goods. That is a normal good, a luxury good, and an inferior good. By normal, we don’t […]
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