Elon Musk thinks bitcoin is on the verge of broad acceptance
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The world’s richest man, Tesla CEO Elon Musk, believes that bitcoin could soon break into traditional finance as he expressed his view on the popular cryptocurrency. Read Full Article at RT.com
Robinhood narrows trade restrictions list to 8 companies, including GameStop
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Online brokerage Robinhood has cut down the list of its restricted stocks, from as many as 50 on Friday to eight starting Monday. Trade in short-squeeze names like GameStop has been limited due to last week’s explosive rallies. Read Full Article at RT.com
China building digital Silk Road stretching from Asia through Africa to Europe
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The final stretch of a cross-border fiber optic cable is set to be laid by China in Pakistan to create the Digital Silk Road (DSR), Nikkei Asia reports. The DSR is part of the broader Chinese Belt and Road Initiative (BRI). Read Full Article at RT.com
India expects V-shaped recovery amid massive Covid-19 vaccination drive
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India’s economy, which was severely hit by the coronavirus lockdowns, is expected to see a strong recovery as soon as the 2021-22 fiscal year, according to the latest report penned by the country’s chief economic adviser. Read Full Article at RT.com
US stocks take beating as Dow sheds 620 points & ‘Reddit Rebellion’ continues to drive massive surge in GameStop shares
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US stocks have plunged across all major indexes, with the Dow Jones tanking more than 600 points in an “ugly day” for traders, as amateur investors continue to send GameStop’s share value soaring, up nearly 70 percent for the day. Read Full Article at R
Robinhood imposes ONE share buy limit on DOZENS OF STOCKS amid GameStop scrutiny
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The market insanity that began with short-selling drama at GameStop has escalated beyond day-traders’ wildest nightmares, as the once-popular brokerage app Robinhood is now effectively preventing users from buying some 50 stocks. Read Full Article at RT.com
Occupy Wall Street 2.0: ‘This time, activists intend to DESTROY the system from within’ – Max Keiser explains GameStop frenzy
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The raging battle between Wall Street hedge funds and retail traders organized on Reddit over companies such as GameStop and AMC has stolen the spotlight this week. RT’s Max Keiser explains what’s it all about. Read Full Article at RT.com
Robinhood CEO accused of ‘lying’ on CNN after claiming he halted stock purchases to adhere to vague ‘regulatory requirements’
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Robinhood CEO Vlad Tenev is facing a heavy backlash after he attempted to defend his trading app’s decision to stop users from buying certain stocks, claiming it had “no choice.” Read Full Article at RT.com
Spain’s pandemic-hit economy suffers steepest drop on record
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Spain’s gross domestic product plunged 11 percent last year, data from the National Statistics Institute showed on Friday. That’s more than the economy shrank over the five years during and after the global financial crisis. Read Full Article at RT.com
China continues to be main driver for oil demand in 2021
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Expanding refining capacity in the world’s largest oil importer, China, continues to support the global oil market and demand, even at times when demand elsewhere is tepid. Read Full Article at RT.com
Russia’s non-energy exports topped $160 billion last year
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The value of shipments of finished products and goods from Russia exceeded $160 billion in 2020, representing 3.5-percent growth from the previous year, according to CEO of the Russian Export Center (REC) Veronika Nikishina. Read Full Article at RT.com
New York attorney general ‘reviewing’ Robinhood case after class action suit accuses trading app of ‘market manipulation’
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New York Attorney General Latitia James said her office will review the Robinhood trading app and activity related to GameStop, as investors sue the firm after it froze stock buys for the games retailer during a major price surge. Read Full Article at RT.com
Mega-investors punished with $70 BILLION LOSSES as GameStop and other shorted firms see stock surge – data analysts
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Short-selling investors lost a staggering $70.8 billion this month, according to financial data analytics firm Ortex. Their losses were partly driven by small traders pumping money into stocks like GameStop. Read Full Article at RT.com
India has capacity to strengthen global supply chains – PM Modi
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The Indian government has continued economic activity during the Covid pandemic and created employment opportunities through infrastructure projects worth trillions of rupees, Prime Minister Narendra Modi said on Thursday. Read Full Article at RT.com
Vietnam was Asia’s top-performing economy during pandemic of 2020
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Vietnam outperformed all of its regional peers in South East Asia last year, data shows, as the nation’s economy grew by 2.9 percent from a year ago, despite the coronavirus pandemic. Read Full Article at RT.com
Increasing debt to boost economies obsolete & serves to widen gap between rich and poor – Putin
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Increasing the debt burden cannot be used as a way of fostering economic growth any more, Russian President Vladimir Putin said Wednesday, addressing a virtual meeting of the World Economic Forum. Read Full Article at RT.com
Putin praises energy deal between Russia, Saudi Arabia & US as an example of productive global cooperation
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The agreement between Russia, Saudi Arabia and the US to cut oil output last year set an example of cooperation between countries, even when they have diverging interests, President Vladimir Putin told the World Economic Forum. Read Full Article at RT.com
China to expand tests of digital yuan in Beijing, Shanghai and Shenzhen
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China is expanding trials of its sovereign digital currency in the capital Beijing, the nation's most populous city of Shanghai and leading tech hub Shenzhen this year. Read Full Article at RT.com
Can US & EU break up Big Tech? RT’s Boom Bust looks at attempts to curb Silicon Valley’s power
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As concerns rise about the clout of the likes of Google and Facebook, more and more states are increasing pressure on tech giants. RT’s Boom Bust breaks down how governments are trying to bring the sector under control. Read Full Article at RT.com
Russia doubles wheat export duty to stabilize domestic food prices
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The Russian government has signed a decree raising the export duty for wheat from €25 ($30) to €50 ($60.59) per ton, starting on March 1. Duties will also be introduced on exports of corn at €25 per ton and barley at €10 per ton. Read Full Article at
Recession is over for the richest few, while billions will live in poverty for at least a decade – Oxfam
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The Covid-19 pandemic has the potential to increase economic inequality in almost every country globally at once, according to a new report revealed by Oxfam on Monday. Read Full Article at RT.com
Russia cracks down on suspicious financial outflows from the country
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The Russian government and the nation’s financial watchdog are reportedly working on a bill to prevent capital flight. The plan implies banning suspicious transactions to foreign bank accounts. Read Full Article at RT.com
Gold mining companies of Russia’s Far Eastern Kamchatka Peninsula produced more than 6.8 tons of the yellow metal last year, which is an almost eight percent increase year-on-year. Read Full Article at RT.com
China’s century: Yuan to dethrone US dollar as major global currency, trend forecaster tells Max Keiser
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China has become the only major economy left standing after the coronavirus pandemic rattled global trade and is set to strip the US of its leading positions soon, Gerald Celente, publisher of The Trends Journal, believes. Read Full Article at RT.com
Sales of Russian wheat keep surging amid gloomy export forecasts
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Russia has sold 26.3 million tons of wheat since the beginning of July 2020 through January 14 2021, marking a 22.6 percent surge against the same period a year ago, the latest data by the country’s agricultural ministry shows. Read Full Article at RT.com
Halting Nord Stream 2 construction may result in legal battle, German minister warns
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The decision to build the natural gas link from Russia to Europe was made long ago and ditching the project may lead to an array of legal trouble, Germany’s Minister for Environment, Nature Conservation and Nuclear Safety warns. Read Full Article at RT.com
China’s forex reserves grow by over $100 BILLION in 2020 despite Covid-19 pandemic
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China boosted its foreign exchange reserves by $108.6 billion last year to $3.22 trillion, in spite of the economic fallout of the coronavirus crisis, data from the State Administration of Foreign Exchange (SAFE) showed. Read Full Article at RT.com
Why did bitcoin suddenly erase all of this year’s gains? RT’s Boom Bust has the answer
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The plunge of the world’s largest cryptocurrency by market cap, bitcoin, wiped out millions of dollars from the crypto market earlier this week. RT’s Boom Bust digs into the reasons behind the steep drop. Read Full Article at RT.com
Cost of sanctions: German industry hit hard by anti-Russia measures, survey shows
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Around a half of German businesses polled by one of the nation’s largest economic think tanks, the Ifo Institute, want the EU to lift sanctions against Russia, as the restrictions have hit the German industrial sector hard. Read Full Article at RT.com
Russian gas supplies to Europe via Nord Stream pipeline hit record highs
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Russia pumped 59.2 billion cubic meters of natural gas through the Nord Stream pipeline in 2020, bringing exports via the offshore gas link between Russia and Europe to the highest level ever. Read Full Article at RT.com
Oil prices slide amid concerns flare-up in China Covid cases could weaken fuel demand
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The price of crude dropped on Friday, receding from the 11-month highs hit last week. Experts say the new coronavirus restrictions in China could curb fuel demand for the world’s biggest oil importer. Read Full Article at RT.com
Bitcoin sell-off wipes out $100 billion from crypto market in just two days
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The total market value of all cryptocurrencies has lost about $100 billion over the past 48 hours, after the world’s top digital asset, bitcoin, slumped around 10 percent as crypto fever cooled off. Read Full Article at RT.com
Work-from-home option leaving big cities nearly empty, as RT’s Boom Bust discovers
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San Francisco is now struggling with a mass exodus of tech workers due to the Covid-19 pandemic, with city leaders warning that this will have a severe economic impact. Read Full Article at RT.com
Silk Road trade on track: Freight train sets off from China to Russia, drastically cutting travel time
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A special China-Europe freight train departed from Dongguan in South China’s Guangdong province to Russia on Wednesday. It will arrive in Moscow within 15 days, cutting the travel time by two-thirds compared with the sea route. Read Full Article at RT.com
Pandemic profiteer: Morgan Stanley makes a killing during coronavirus crisis
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Morgan Stanley managed to substantially capitalize in 2020. The US investment bank beat fourth-quarter earnings forecasts to round off the lender’s best year on record. Read Full Article at RT.com
Will staff ‘dog collars’ that buzz be the new workplace accessory in coronavirus era? Boom Bust finds out
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While the largest-ever vaccination campaign is now underway across the world, some companies are exploring new technologies that would help keep employees from getting too close to each other in the workplace. Read Full Article at RT.com
Russia continues ditching US Treasuries as part of state de-dollarization policy
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The Russian central bank has continued getting rid of US Treasury bonds, with the share of investments in American debt shrinking 19.2 percent in November, according to the US Treasury Department. Read Full Article at RT.com
IEA cuts global energy demand outlook as renewed lockdowns weigh on fuel sales
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The International Energy Agency (IEA) has cut its 2021 forecast for oil demand by 0.3 million barrels. It will take more time for oil demand to recover fully as renewed lockdown measures will further limit mobility, the IEA said. Read Full Article at RT.com
EasyJet summer bookings jump 250% on hopes of lockdown restrictions easing
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UK budget carrier EasyJet’s CEO Johan Lundgren said that bookings for this summer with its holidays arm were up 250 percent on last year. The airline industry is hoping for increased demand when lockdown restrictions are eased. Read Full Article at RT.com
Russian gasoline imports surge after lifted moratorium
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Russia’s imports of gasoline surged eight times in November compared to October, after the end of a four-month ban on refined oil product imports ended in October. Read Full Article at RT.com
