12 Aug 2022

UK recession looms as households feel pain of soaring energy bills

The economy in the UK may be starting to shrink and a new forecast is suggesting that the average annual energy bills could be as high as the equivalent of $6,000 next year. The country’s GDP dropped by 0.1% in the second quarter of this year and analysts believe the

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21 Jul 2022

Blockchain.com Cuts 25% of Its Workforce Amid Crypto Bear Market

Blockchain.com is laying off 25% of its workforce in order to cut expenses during tough market conditions, the company said on Thursday. The news was first reported by CoinDesk, which said around 150 employees will lose their jobs, taking the exchange’s headcount to the same level it was at the start

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12 Jul 2022

Euro hits US dollar parity for first time in 20 years

The euro was at a low of $1 as of 10:00 GMT on Tuesday and stock markets fell as potential central bank tightening and concerns about the health of worldwide economies made investors uneasy. The euro is the weakest it’s value has been in over 20 years. The US currency

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26 May 2022

World Bank boss warns over global recession due to Ukraine War: What To Do About it

There were already multiple reports of slowing economies due to Covid then the war in Ukraine caused more disruption. Here is an overview of a world bank view by BBC: The head of the World Bank has warned that the increase in price of food, energy, and fertilizer as a

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04 Nov 2020

Argentina’s President Struggles to Avert Economic Crash

Last year, Argentinian President Alberto Fernandez was elected to lift the country out of a harmful and devastating economic recession. Now, the economy is facing a surmounting crisis as COVID-19 threatens economic stability across the world. The Argentine government is struggling to create an economic plan while managing a leftist

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12 Aug 2020

U.K. Economy Shrinks by More Than Any Other Rich Country

According to second-quarter reports, the UK is facing a steeper Q2 contraction than its counterparts, faring the worst out of any comparable economy due to the COVID-19 pandemic. The UK has also reported the highest death toll within the region, and months of lockdown measures and business closures have pushed

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23 Jul 2020

South Korea Slumps Into a Recession

South Korea’s economy has fallen into a recession following its second quarter of contraction. This is likely due to the COVID-19 pandemic taking a heavy toll on the country, which is heavily reliant on exports. Gross domestic product within South Korea shrank by 3.3% in the second quarter, according to

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08 Apr 2020

Worst recession in decades piles pressure on EU to agree new relief package

According to forecasts published on Wednesday, Europe’s top two economies are experiencing the worst contraction in decades as EU officials work towards new measures to relieve economic pressure and distress. German economic research institutes stated that the country’s economy is likely to shrink by 4.2% this year as a result

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26 Mar 2020

The Latest: 3.3M US jobless claims tops record set in 1982

Last week, 3.3 million Americans applied for unemployment benefits as a result of their place of employment closing amid the pandemic, which is more than quadruple the previous record set in 1982. China has also expressed discontent with the “Wuhan virus” name for the COVID-19 virus, and the Health Minister

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04 Mar 2020

Coronavirus: World Bank pledges $12bn in emergency aid

The World Bank has reportedly committed $12 billion in aid for developing countries that are facing the coronavirus outbreak and how to combat it financially and medically. The WB aid includes low-cost loans, grants and technical assistance to aid these countries in preventing the outbreak and managing the coronavirus if

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