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 economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some way, and it is likely that our lives will never be the same again. One […]
According to the IMF, the world economy is predicted to experience negative economic growth of -3% this year. This projection comes after the IMF released their latest world economic outlook report a survey which is usually […]
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 economic fallout from the spread of the deadly coronavirus around the world has been unprecedented. In this age of globalisation and economic interdependence, no economy is able to escape the consequences as demand dries […]
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 […]
The cost of petrol in the UK is nearing £1 for the first time in four years. This is the result of an extremely volatile start to 2020 for the petrol market as it encounters […]
The government of Singapore has announced an additional US$3.6 billion to support the economy as the city state sees coronavirus cases increase despite earlier signs that the virus seemed to have been contained. The additional […]
Clothing workers in Bangladesh, the South Asian country which is only second place to China in the global manufacturing of clothing, have been hit hard by the worldwide spread of Covid-19. The plummeting demand for […]
As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and above. This now means that any minimum wage worker over 25 will now be paid […]
With three out of four Americans now under some kind of lockdown, that is around 245 million people who now need to cook for themselves every day. Whilst many may be embracing their kitchens and […]
Whilst economies around the world are still on their knees, China seems to have picked itself back up again, after emerging from the worst of Covid-19’s destruction across the country. In battling the virus throughout […]
Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions of dollars in order to keep the global economy afloat. The scale of the economic […]
As consumers around the world look for any way they can to fend off the deadly coronavirus, drinking copious amounts of orange juice has emerged as one of the most popular strategies. Packed full of […]
In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill which will free up $2 trillion to be used for a coronavirus relief package. Since […]
Using a measure called the broad effective exchange rate, a measurement of a currency’s value against a basket of their major trading partners, the pound has crashed to its lowest level on record. The pound […]
As students of economics, these really are crazy times we are living through! From governments paying private sector wages to 0% interest rates, to toilet paper shortages, the latest to add to this list is the environment’s least […]
McDonald’s has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further notice. Employing around 135,000 people across the UK, this is going to put a huge […]
Since the deadly outbreak of Covid-19, there have been cases all over the world of panic-stricken consumers rushing to supermarkets and filling their trolleys with everything they can get their hands on. We’ve mainly heard […]
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue the UK economy from the jaws of a coronavirus induced crash. In an unprecedented move, […]
It’s not all doom and gloom! Well… it is mostly. But with all the negative economic news in the last few weeks, here is a more positive story to tell. With the coronavirus now a […]
In a huge show of strength against the so-called anti-competitive practices of US tech companies, the French competition watchdog has fined Apple a record US$1.2 billion. US tech companies have been under intense scrutiny in […]
In an unprecedented move today, the US federal reserve, which controls and coordinates American monetary policy, has announced a cocktail of measures to combat the economic fallout from the coronavirus which utilises almost every weapon […]
With airlines tiptoeing on the edge of collapse, empty hotels filing for bankruptcy, and restaurants forced to shut their doors for the last time, the financial impact of the coronavirus is not holding back. As more countries […]
As the spread of the coronavirus continues to wreak havoc, stock markets around the world have continued their freefall. The Dow Jones, one of the world’s most trusted indices and a strong indicator of global […]
In an attempt to combat the economic fallout caused by the outbreak of the coronavirus, the Bank of England has taken the extreme measure of cutting interest rates from 0.75% to 0.25%. Monetary policy of […]
Korean Air, the largest airline in South Korea, is currently fighting for survival after the outbreak of the coronavirus has forced them to ground thousands of flights. As of writing this article, South Korea has […]
Lobster, a seafood delicacy which is usually only eaten on special occasions, has seen its price slashed by over 50%. This is great news for American families who can have a luxury dinner at bargain […]
The world awoke to the largest drop in oil prices in 29 years today as Saudi Arabia, the world’s second largest oil producer, seemingly instigated a price war against Russia. The huge drop in […]
The Prime-minister of Lebanon has announced that the country in Western Asia is to default on a huge debt repayment of US$1.2 billion which was due to be paid on March 9th. The Lebanese economy […]
As of March 1st, 2020, all public transport in Luxembourg is now free. Yes, you read it right. All free! This is the latest measure taken by the government of the tiny European nation in […]
With growing concerns over the spread of the coronavirus in Australia, supermarkets and other retailers have been stockpiling supplies of toilet paper over fears that they may face a sudden shortage. In response to the […]
For the first time in years (perhaps ever!), a warm winter in Germany has led to all German vineyards unable to produce the expensive and popular alcoholic drink known as ice wine. Ice wine is […]
A hotel in Japan which is popular amongst Chinese tourists has been forced to file for bankruptcy following a sharp fall in demand. The outbreak of the novel coronavirus has led to a huge decrease […]
In an unprecedented move to help boost the ailing Hong Kong economy, the financial secretary Paul Chan has announced a HK$10,000 cash handout for all permanent residents aged 18 or above. This creative fiscal policy […]
Moroccan phosphate exports have fallen to an eight-year low from the disputed territory of Western Sahara with exports in 2019 almost half of that in the previous year. In 2018, the North African country exported […]
All eyes are on the UK’s new chancellor, Rishi Sunak, who will soon be announcing the government’s budget for the coming year. Since 2010, the UK government has been aggressively cutting public expenditure in […]
With millions of people in self-imposed quarantine across China and severe travel restrictions, small and medium sized businesses could be on the verge of collapse. Since the outbreak of the deadly coronavirus in January, businesses […]
The British Home Secretary has suggested the training and upskilling of the economically inactive in order to fill the large staff shortages in British businesses across the UK. According to Patel, there are over 8.45 […]
The price of wine is dropping fast in the US as a result of changing patterns in consumer behaviour. Where wine was once the popular choice of alcoholic beverage for many young Americans, demand has […]
An unexpected surge in economic growth at the end of 2019 was very good news for the Israeli Prime Minister Benjamin Netanyahu who will soon be battling in a national election. GDP increased by 4.8% […]
Despite an ongoing US$9 billion court case in the US over tax evasion, the CEO of Facebook Mark Zuckerberg has stated that the social networking company will be willing to pay more taxes outside of […]
Defence spending across the world increased significantly in 2019 according to a report by the Institute of Strategic Studies (ISS). The data collected by the ISS for 2019, shows that world-wide defence spending increased by […]
A recent report by a team of US scientists at the University of Arizona has suggested that owing to the climate crisis, the world could see a dramatic extinction of over a third of all […]
The inflation rate in Ghana, as measured by the consumer price index, ended at 7.9% in 2019. In a recent research study in the west African nation, prices are expected to continue their rise throughout […]
Pakistan’s high interest rate of 13.25% is unlikely to be changed anytime soon according to analysts in the country. Monetary policy, which involves the government’s manipulation of the interest rate, has been the favoured tool […]
After a dismal 0.2% decline in productivity in the third quarter of 2019, American workers bounced back through October to December, recording an increase in productivity of 1.4%. This comes from a recent report from […]
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