Phase one of what will be the world’s largest fully automated port is now complete and the Singaporean government are loving it. Prime Minister Lee Hsien Loong sees the port as a jewel in Singapore’s […]
Thousands of French households are facing an unexpected tax bill after the use of an artificial intelligence tool found over 20,000 unreported swimming pools. The tool, which was only trialed in a handful of regions, […]
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 […]
The US economy is predicted to have created another 440,000 jobs in February, following the 467,000 which were added in January. These jobs, mainly in leisure and hospitality, show a strong economic rebound as businesses […]
As inflation spikes throughout the Sri-Lankan economy, the central bank has responded by increasing the interest rate from 5.5% to 6.5%. This tightening of monetary policy follows three consecutive months of double-digit inflation, with the […]
The People’s Bank of China, China’s central bank, announced this week that they would reduce the current reserve requirement ratio (RRR) to just over 8.4%. A reduction in RRR will allow banks to hold less […]
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 economy of Pakistan has released figures showing there was a current account deficit of $3.4 billion in Q3. This is up by just under $1 billion from their Q2 figure. Although such a large […]
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 […]
Despite being home to the river Nile, Egypt could face extreme water scarcity in the next decade according to a report by MIT. The report concluded that Egypt will need to import more water than […]
El Salvador has become the first country in the world to officially adopt a cryptocurrency as a form of legal tender. A law was passed in the Central American nation on the 9th June allowing […]
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 […]
The US state of Ohio has recently announced an innovative scheme to encourage more people to take the Covid-19 vaccine. From May 26th, all Ohioans over the age of 18 who have received the first […]
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Imagine ordering a delicious cheeseburger and fries to your door, only to find out it didn’t come with ketchup. What are you going to dip those fries in?! Disaster… This scenario could become increasingly more […]
Following the introduction in China of temporary tariffs on Australian wine imports last year, the Australian wine industry is now expecting an imminent announcement of both an increase and expansion of the tariffs. Already […]
After the recent ‘two sessions’ in Beijing, a series of high-level meetings which determine the economic and social policy for the next five years, the Chinese government announced that there will not be a specific […]
With over 15 million people having now received their first of two Covid-19 jabs, there appears to be a rising sense of optimism in the UK economy. This has resulted in the pound hitting its […]
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 […]
After months of intense negotiations, the American government looks finally set to inject billions of dollars into the US economy. The so-called “Covid-19 relief bill” should do exactly what it says on the tin: providing […]
A deal has been agreed between the governments of Japan and Myanmar to sign off on ¥42.78 billion (US$414 million) worth of low-interest loans. Over half of the money will be directed towards a huge […]
In what some commentators are calling a bold and audacious pledge, President Xi announced to the UN that China will be carbon neutral by the year 2060. That gives the world’s second largest economy, and […]
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 […]
The UK chancellor, Rishi Sunak, has just announced the government’s latest scheme to save people’s jobs from the ongoing Coronavirus crisis. With the job retention scheme set to end at the end of October, both employers and […]
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 […]
According to the latest research on the economic impact of Covid-19, the OECD has announced that the South Korean economy is likely to “only” shrink by -0.8% this year. Whilst all negative GDP growth is […]
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 […]
Inflation in India, the fifth largest economy in the world, stood at 6.9% in July according to the latest measurement of the CPI (consumer price index). This means that inflation in India has been above […]
According to data released by the US Labour Department, new unemployment claims for the week ending August 15th stood at just over 1.1 million people, up 135,000 from the week before. This data paints an […]
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 […]
The results are out for the economic impact that Covid-19 has had on the world’s major economies in the first six months of the year… and unsurprisingly, they are showing unprecedented levels of global economic […]
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 economies around the world continue their lockdowns and domestic battles against Covid-19, world trade has been declining at an unprecedented rate. According to a report by the Netherlands Bureau for Economic Policy Analysis, the […]
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 […]
Government spending is a complicated business. In a mixed economy, the role of the government is undoubtedly vital in providing much needed public goods such as roads, schools, hospitals, and of course every economics teacher’s […]
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 […]
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