coronavirus

Gas price surge leaving businesses bankrupt and consumers uncertain

The gas price surge across Europe has led to the collapse of two small UK gas providers. Avro Energy and Green,…

3 years ago

State of Ohio to award 5 people $1 million for taking the Covid-19 vaccine

The US state of Ohio has recently announced an innovative scheme to encourage more people to take the Covid-19 vaccine.…

4 years ago

Pound on a high as over 20% of the UK gets vaccinated

With over 15 million people having now received their first of two Covid-19 jabs, there appears to be a rising…

4 years ago

China records 2.3% GDP growth in 2020

2020 is a year to forget, but we won’t… and despite the economic woes from all over the world, the…

4 years ago

US Congress passes $900 billion Covid-19 relief bill – so where’s all that cash going?

After months of intense negotiations, the American government looks finally set to inject billions of dollars into the US economy.…

4 years ago

Young people are the worst affected as unemployment creeps up in the UK

The unemployment rate in the UK has risen to its highest level in two years, with an official figure of…

4 years ago

South Korea’s economy is outperforming all other OECD members. Here’s why.

According to the latest research on the economic impact of Covid-19, the OECD has announced that the South Korean economy…

4 years ago

Nut prices are hitting rock bottom as global demand remains low

What happens when you’ve got too many nuts, and not enough people to sell them too? Easy… you lower the…

4 years ago

Corona and customs: World trade decreasing at an unprecedented rate

As economies around the world continue their lockdowns and domestic battles against Covid-19, world trade has been declining at an…

4 years ago

IMF announces that the economic woes of 2020 are likely to be even worse than expected!

As Covid-19 shows no sign of abating, the damage it has caused to the global economy continues to grow. As…

4 years ago

Why does the recession proof Coca-Cola have so much cash?

As economies around the world continue to be shattered by the economic consequences of Covid-19, millions of business have found…

4 years ago

£900,000 of taxpayer’s money to be spent on painting the PM’s plane

Government spending is a complicated business. In a mixed economy, the role of the government is undoubtedly vital in providing…

4 years ago

Toilet paper manufacturer gets the go ahead to fill the shortage

One thing we will learn from this pandemic is that when people see a crisis coming, they buy A LOT…

4 years ago

An economy down under: Australia facing the prospect of a deep recession

Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as…

5 years ago

South Africa: an economy in lockdown is an economy in freefall

The economic impact of Covid-19 has been devastating and wide-reaching. One country which is suffering significantly is South Africa, where…

5 years ago

British Supercar manufacturer McLaren to cut more than 25% of their workforce

As the world’s economies continue to reel from the damage caused by the spread of Covid-19, Supercar manufacturer McLaren is…

5 years ago

Deflation in Canada: why economists will tell you that falling prices is not something to be happy about

The inflation rate in Canada entered negative territory in April, as year-on-year inflation was measured at -0.2%. This essentially means…

5 years ago

ILO weighs in on the extent of the coronacrisis and offers advice for how to fight Covid-19

With unemployment levels soaring across the world, the ILO (International Labour Organisation) released a policy brief which outlined the steps…

5 years ago

Declining rate of retail sales at a historic low as consumer confidence plummets in the US

The latest in a long list of ‘historic lows’ since Covid-19 wiped out the global economy is the total collapse…

5 years ago

Prime Minister Modi announces a $60 billion relief plan to help small businesses in India

India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown…

5 years ago

VAT to be tripled in Saudi Arabia to 15%

Saudi Arabia, the second largest oil producing nation in the world, has for the last few years been trying desperately…

5 years ago

6.3 million people in the UK are being paid by the government – to stay at home!

In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the…

5 years ago

Coronacrisis in the USA: negative growth and the worst decline since 2008

The stats are now out on the performance of the American economy for quarter one of 2020, and it’s not…

5 years ago

The more you sell the more it costs: Amazon have record sales but are paying the price for it

In this crazy new world we live in where everybody stays at home, one company which has benefitted hugely and…

5 years ago

To trade or not to trade? Many countries choosing the latter in response to Covid-19

According to a report released by the World Trade Organisation (WTO), there is a growing number of countries around the…

5 years ago

A Hunger pandemic could be the worst outcome of Covid-19 in the world’s poorest regions

According to a report by the World Food Programme (WFP), the economic and social disruption caused by the spread of…

5 years ago

UK government to borrow over £200 billion to fight Covid-19 – but who do they borrow from?

In the last three months, governments around the world have been spending huge sums of money on packages to reduce…

5 years ago

A tale of two businesses: winners and losers of a global lockdown

Netflix and chill? Yes please, but not with a Coca-Cola.Recent announcements from these two corporate giants have given us an…

5 years ago

Oil prices go negative in the US – how and why?

Since the outbreak of the coronavirus in January this year, there have been numerous economic events which have been simply…

5 years ago

Unemployment claims in the US have risen to 22 million

Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses…

5 years ago

China’s economy has reduced in size for the first time in decades

China’s unbelievable economic growth streak of over forty years has finally come to an end today, with the world’s second…

5 years ago

Could the coronavirus lead to a widespread adoption of universal basic income?

The economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some…

5 years ago

The extent of the global corona-crisis: world economy set to shrink by 3% in 2020

According to the IMF, the world economy is predicted to experience negative economic growth of -3% this year. This projection…

5 years ago

Coronavirus plunges the French economy into recession

The economic fallout from the spread of the deadly coronavirus around the world has been unprecedented. In this age of…

5 years ago

Loo roll over Louis Vuitton: luxury brands amongst the hardest hit by Covid-19

The global fashion industry, valued at over US$2 trillion, has been hit extremely hard by the worldwide spread of Covid-19,…

5 years ago

Ramen: the inferior good behaving like an… inferior good!

For a student of economics, one of the first concepts we learn about is the different types of goods. That…

5 years ago

Petrol prices plummeting towards £1 per litre as the price war for oil continues and drivers stay off the roads

The cost of petrol in the UK is nearing £1 for the first time in four years. This is the…

5 years ago

Singapore to inject another US$3.6 billion into the economy as coronavirus cases spike

The government of Singapore has announced an additional US$3.6 billion to support the economy as the city state sees coronavirus…

5 years ago

Minimum wage in the UK increases by 6.2%

As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and…

5 years ago

Who ordered pizza? Everyone it seems! Papa John’s sales in the US are expected to be up 5.3% this quarter

With three out of four Americans now under some kind of lockdown, that is around 245 million people who now…

5 years ago

The factory of the world is firing up again: China records strong growth in manufacturing activity for March

Whilst economies around the world are still on their knees, China seems to have picked itself back up again, after…

5 years ago

The cost of the coronavirus so far: $7 trillion and counting

Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions…

5 years ago

Orange juice is the new king of commodities: prices set to soar!

As consumers around the world look for any way they can to fend off the deadly coronavirus, drinking copious amounts…

5 years ago

US senate announces a $2 trillion fiscal stimulus

In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill…

5 years ago

As the dollar surges on global exchange markets, the pound drops to its lowest value on record

Using a measure called the broad effective exchange rate, a measurement of a currency’s value against a basket of their…

5 years ago

Not even a cheeky Nando’s can help you through this crisis: Nando’s and McDonald’s to close all UK restaurants!

McDonald's has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further…

5 years ago

We’ve heard about the toilet paper, but what else are people panic buying?

Since the deadly outbreak of Covid-19, there have been cases all over the world of panic-stricken consumers rushing to supermarkets…

5 years ago

UK government to step in and pay people’s wages

In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the…

5 years ago

Interest rate in the UK has been cut to lowest in history – what a time to be studying economics!

For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue…

5 years ago