Oil and gas titan Shell has faced a ban on some of its advertisements due to misleading claims about the cleanliness of its energy production. The Advertising Standards Authority (ASA) ruled that the ads, including […]
In a surprising turn of events, Meta Platforms has sold Giphy, a popular platform for animated images, to Shutterstock, an online stock-photo marketplace, for $53 million. This is a significant loss for Meta, which bought […]
South Africa, a country known for its rich history and diverse culture, is currently facing a crisis. The country’s top business leaders are sounding the alarm, warning that South Africa could become a “failed state” […]
The retirement savings of the United States’ top executives starkly contrast the struggle of their employees, with a report revealing the staggering $8.9 billion accumulated by five top executives in tax-deferred savings accounts. In a […]
The UK’s economy is ailing, and this isn’t just a figure of speech. More Britons than ever are out of the workforce due to long-term illness or disability, a historic and lamentable loss of human […]
In a move that could revolutionize the way people in Ethiopia do business, the government has granted a mobile money license to Safaricom. The company’s M-Pesa service is already used by millions of people in […]
In a bold move to combat climbing inflation, Argentina’s Central Bank has escalated its key interest rate by a steep six points, hitting a staggering 97%. This decisive action comes in response to inflation soaring […]
Germany’s economy ministry has proposed to cover 80% of electricity costs for energy-intensive companies until 2030, aiming to support industries like chemicals, steel, and glass. The plan, estimated to cost €25-30 billion, also seeks to […]
In June 2023, South Africa will impose a flat excise duty of R2.90/ml on nicotine substitutes, including vaping products. This tax has been anticipated since finance minister Enoch Godongwana announced it in his 2022 budget […]
In a surprising move, the UK’s Competition and Markets Authority (CMA) has halted Microsoft’s $68.7 billion acquisition of video game giant Activision Blizzard. The deal would have given Microsoft control over popular titles like Call […]
The US federal debt has skyrocketed to a jaw-dropping $31.4 trillion, dangerously close to the legal borrowing limit known as the “debt ceiling.” As divisions within the Republican party deepen, a solution to raise the […]
In a world-first initiative, one million smokers in England will be encouraged to trade cigarettes for vapes in the innovative ‘swap to stop’ program. The aim is to boost public health and slash smoking rates […]
Juul Labs Inc, the e-cigarette giant, is coughing up $462 million to settle allegations by six US states, including New York and California, that it illegally hooked teens on its addictive products. Like bees to […]
A recent survey by the Department of Labor’s Wage and Hour Division revealed that some Southern California garment workers are earning as little as $1.58 per hour in what officials call “sweatshops.” These workers make […]
Greece has launched a new subsidy program to encourage more households and farmers to install solar projects and small storage systems. The €200 million ($215.3 million) scheme is part of the country’s post-pandemic recovery plan […]
German workers began a massive strike this week as Europe’s largest economy grapples with soaring inflation. The strikes, which will impact mass transport and airports, are some of the largest in decades and reflect growing […]
Utah has just passed some sweeping legislation aimed at protecting children and teens from the negative effects of social media. It’s a really ambitious attempt to tackle some of the issues around addiction, mental health […]
The price of rice in Indonesia has been steadily increasing since last year, and experts are wondering if the government’s attempts to regulate the market might actually be making things worse. The Information Center for […]
Africa could be facing a significant economic decline, and climate change is playing a crucial role. Severe weather conditions like cyclones, floods, and droughts are devastating African countries, forcing them to spend between 2% and […]
The rate of corporation tax is going up in the UK! That’s right, starting next month, companies with over £250,000 in profits will have to pay 25% in corporation tax instead of the current 19%. […]
The inflation rate in Argentina has passed the 100% mark this week with consumers particularly hard hit by increasing food prices – the price of meat alone increased by almost 20% in the last month. […]
President Biden is expected to announce a plan this week to increase tax for those earning over $400,000 a year. The revenue raised from the tax will be spent on extending Medicare, a federal insurance […]
Sales of wine and beer fell drastically in Canada from 2021-2022, demonstrating that the Canadian government’s crackdown on alcohol consumption seems to be doing the trick. Alcohol is a demerit good and governments around the […]
In 2021, the Biden Administration announced the roll out of the Affordable Connectivity Program – low cost and high-speed internet for those who couldn’t afford their own connection or have difficulty setting it up. The […]
The UK economy has been plunged into economic turmoil since the announcement of the mini-budget last week. Since the new chancellor, Kwasi Kwarteng, announced the largest tax cuts in 50 years the economy seems to […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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