New York City has introduced a $9 congestion pricing toll for vehicles entering central Manhattan during peak hours. This policy aims to address the market failure of traffic congestion, a classic negative externality, by reducing […]
Google and Apple, two of the world’s largest tech companies, have faced heavy fines for abusing their market dominance, highlighting the economic consequences of monopoly power. In a major ruling, Google was ordered by the […]
The government in Thailand plans to raise the daily minimum wage by 14%, reaching 400 baht ($10.88) by October 1. This move has sparked concern among business groups, fearing that higher labour costs could lead […]
In a landmark decision, Parisians have recently voted in favor of tripling parking charges for SUVs, a move aimed at curbing the use of “bulky, polluting” vehicles within the French capital. This significant increase in […]
In a significant move to address the increasing prevalence of vaping among young people, the UK government has announced plans to ban disposable vapes. This decision comes as figures from Action on Smoking and Health […]
In a significant policy reversal, New Zealand’s government plans to scrap the “generational smoking ban,” a groundbreaking law aimed at curbing smoking rates. Initially passed in 2022, the law intended to progressively raise the minimum […]
The U.S. Treasury Department is set to borrow a hefty $776 billion in the final quarter of 2023, a figure that’s slightly lower than the previous quarter’s record borrowing but still significant. This borrowing is […]
Definition of Inflation and Deflation Inflation often conjures images of rising prices, crowded shopping malls, and the palpable anxiety of our money’s diminishing purchasing power. At its core, inflation is when the general level of […]
Apple has hit a snag in China with recent reports suggesting that Chinese government workers have been instructed to stay clear of iPhones. This news has caused Apple’s shares to tumble for two consecutive days, […]
Time to uncork a bottle of economic intrigue: the French government and the European Union are shelling out a whopping 200 million euros to… destroy surplus wine. Wait, what? Yep, you read that right. It’s […]
In a move to bolster its economic recovery, China’s central bank, the People’s Bank of China (PBOC), announced on Friday that it would reduce the reserve requirement ratio (RRR) for all banks, barring those already […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the scheme, the UK government will fund 80% of workers’ wages, up to £2,500 a month, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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