Russians’ spending more on domestic holidays due to international travel restrictions
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Spending by Russians on travel around the country grew 1.5 times in the second half of the summer season, amounting to about 9.5 billion rubles (over $125 million), VTB Bank’s press service has announced. Read Full Article at RT.com
Russian car market becomes second largest in Europe
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Despite car sales falling in August, the Russian car market became one of the largest in Europe, climbing to the second spot only behind Germany, according to the analytical agency Avtostat. Read Full Article at RT.com
US gasoline demand is crumbling as driving season comes to an end
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The recovery in gasoline demand in the United States slowed down in August, even turning negative in the last week of the month as driving season came to an end and the new school year began. Read Full Article at RT.com
Central Bank of Russia does not rule out another pandemic wave & $25 oil price
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Assessing risks for the Russian economy, the country’s financial regulator warned that a new wave of Covid-19 may result in lower oil prices and a deeper economic contraction. Read Full Article at RT.com
The worst is yet to come: Another 176 mn people worldwide could fall into poverty after pandemic, UN warns
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The economic downturn resulting from the Covid-19 pandemic is unprecedented in peacetime since the Great Depression of the 1930s, UN poverty expert Olivier De Schutter has said. Read Full Article at RT.com
Gold has one huge disadvantage & it’s why gold standard failed, research analyst tells Max Keiser
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While precious metals, particularly gold, have been doing extremely well in these times of market turmoil, it severely lacks one key ability that allowed fiat currencies to take over, analyst David Lawant told RT’s Keiser Report. Read Full Article at RT.com
Saudi Aramco is now suffering the consequences of failed oil price war
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It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. Read Full Article at RT.com
Saudi Aramco is now suffering the consequences of a failed oil price war
newsdepo.com
It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. Read Full Article at RT.com
China blocks German pork imports over African swine fever
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German farmers’ fears have come true, as the world’s top buyer, China, has officially imposed an embargo on imports of German pork and pig products after swine fever was confirmed in a wild boar in Brandenburg. Read Full Article at RT.com
‘Hit job for short sale profit’: ‘Pissed’ Nikola founder hits back at ‘deceptive’ fraud allegations that tanked company shares
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Electric truck maker Nikola has promised to approach the US Securities and Exchange Commission (SEC) over “misleading information and salacious accusations” made in a report by short-selling firm Hindenburg Research. Read Full Article at RT.com
Peak of Sinophobia? Boom Bust looks at US crackdown on Chinese students
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More than 1,000 Chinese students have had their visas revoked by the United States since June, after being accused of espionage for the Chinese military. Read Full Article at RT.com
UK strikes first major post-Brexit free trade deal with Japan
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While still wrangling with the EU on the future of its post-Brexit trade relations, the UK has announced that it secured the first post-Brexit pact with Japan, which will make almost all British exports to the country tariff-free. Read Full Article at RT.com
Investors continue to put money in Russian sovereign bonds despite threat of sanctions
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Russia’s share of JPMorgan’s GBI-EM index, the main global benchmark for emerging market local currency bonds, has grown to 8.3 percent, up from around seven percent two years ago and just 1.5 percent in 2007, new data shows. Read Full Article at RT.com
Oil prices retreat on mounting oversupply concerns
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International benchmark Brent and West Texas Intermediate (WTI) extended losses on Friday after a surprise rise in US crude inventories triggered concerns over a supply glut in the global oil market already rattled by Covid-19. Read Full Article at RT.com
Say goodbye to globalization as ‘The Age of Disorder’ is coming – Deutsche Bank
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The four-decade era of globalization may be coming to an end, and we could be entering “The Age of Disorder,” which will reshape both economies and politics, Deutsche Bank analysts have said in a new research note. Read Full Article at RT.com
Behind the facade of political rhetoric, Russia and the United States have embarked on an impressive show of synergy, with fuel oil becoming a rare demonstration of improving relations. Read Full Article at RT.com
US companies plan to stay in China despite Trump’s threat to ‘decouple’ trade
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While the Trump administration has pushed to decouple US-China trade, a new survey has found that 92.1 percent of American companies in China have no plans to leave the country. Read Full Article at RT.com
Why US efforts to damage Chinese tech firms is a ‘lose-lose proposition’ – RT’s Boom Bust investigates
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As Washington continues to ramp up pressure on Chinese technology companies and apps, such as Huawei, TikTok and WeChat, Beijing has responded by launching its own global data security initiative. Read Full Article at RT.com
US stock market’s ‘BIGGEST BUBBLE EVER’ may have popped but the worst is yet to come – Peter Schiff
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The Wall Street sell-off could mean that the market bubble may have popped, said veteran stockbroker Peter Schiff. He has been warning that the air has been coming out of the stock market bubble for a long time. Read Full Article at RT.com
Top 6 US tech titans lose over $1 trillion in Wall Street sell-off
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The recent stock rout has wiped out over $1 trillion from the value of America’s biggest tech corporations, including the world’s most valuable company Apple and online giant Amazon – but it failed to erase all their 2020 gains. Read Full Article at RT.
Nikola & GM challenge Tesla with world’s ‘most badass’ 900-horsepower electric truck
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The electric truck startup Nikola and General Motors (GM) announced on Tuesday a strategic partnership to produce an electric pickup truck dubbed the ‘Badger’. It will use GM’s widely acclaimed Ultium battery technology. Read Full Article at RT.com
Russia must regain oil market share once global demand recovers – Energy Ministry
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Moscow has worked out a program of unfinished oil wells which could start operating once global demand recovers from the coronavirus pandemic, said Russian Energy Minister Alexander Novak. Read Full Article at RT.com
America becoming another banana republic – Max Keiser
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In this episode of the Keiser Report, Max and Stacy look at the accumulation of debt in the United States in memory of David Graeber, author of ‘Debt: The First 5,000 Years’. Read Full Article at RT.com
China is going a step further in its generous support for hydrogen cars in the form of a package of policies aimed at improving the hydrogen fuel cell car supply chain. Read Full Article at RT.com
Pakistan seeks China’s support in corporate farming
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Islamabad is seeking Beijing’s help in national food security through the inclusion of agriculture in the ambitious $61 billion China-Pakistan Economic Corridor (CPEC) program. Read Full Article at RT.com
‘Correction here & tech bubble will burst,’ warns ‘godfather of smart-beta’ investing
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As hundreds of billions of dollars were wiped off the tech sector last week, the founder and chairman of the board of Research Affiliates, Rob Arnott, says there’s been a correction and the “tech bubble” is about to burst. Read Full Article at RT.com
‘I was wrong about bitcoin,’ says gold bug Peter Schiff
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Gold supporter and cryptocurrency opponent Peter Schiff has admitted on Twitter that he made a mistake in some price predictions for bitcoin which has recently rallied to over $12,000, before the September correction to $10,000. Read Full Article at RT.com
Stock of China’s largest chip maker plunges after reports of potential US ban
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Shares in China’s biggest contract chip manufacturer SMIC sank by over 23 percent on Monday, after the US government said it may block American companies from providing goods and services to the firm. Read Full Article at RT.com
The COVID pandemic has sparked a surge in gold buying, and some analysts suggest that it still has plenty of upside potential. Read Full Article at RT.com
Global economy won’t return to pre-pandemic levels ‘for a long time’ – Deutsche Bank
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In another gloomy outlook for the global economy, Deutsche Bank CEO Christian Sewing warned that it could take the world much longer to recover economically from Covid-19 than previously thought. Read Full Article at RT.com
US dollar will continue to lose against ‘real money, which is gold’ – Peter Schiff
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The price of gold is set to beat all forecasts while the dollar’s value will fall further, as the Fed continues its money-printing policies, CEO of Euro Pacific Capital Peter Schiff has told RT’s Boom Bust. Read Full Article at RT.com
China’s yuan to become world’s third-largest reserve currency behind dollar & euro – Morgan Stanley
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With Beijing pushing for greater use of the yuan internationally, the Chinese currency could rise to the status of the world’s third-largest reserve currency in 10 years, according to a forecast by Morgan Stanley. Read Full Article at RT.com
Dow Jones slides by 1,000 points: US markets dive as investors sell off tech stocks, Trump blames Fox News
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Investors dumped technology shares and drove all US stock market indices sharply down after the previous day’s high note. Oil and gold also dropped, as analysts struggled to explain the cause behind the sell-off. Read Full Article at RT.com
Dow Jones slides by 1,000 points: US markets dive as investors sell of tech stocks, Trump blames Fox News
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Investors dumped technology shares and drove all US stock market indices sharply down after a previous day’s high note. Oil and gold also dropped, as analysts struggled to explain the cause behind the sell-off. Read Full Article at RT.com
Central bankers are losing the war on gold, author tells Max Keiser
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With gold prices rising, veteran RT host Max Keiser sat down with financial journalist and author of the ‘The Big Reset’, Willem Middelkoop, to discuss the metal’s dominance on the financial market. Read Full Article at RT.com
Pakistan’s stock market has become one of world’s best performers
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Pakistan has surprisingly risen to become Asia’s best-performing stock market and the fourth-best performer in the world, defying the odds amid the coronavirus outbreak. Read Full Article at RT.com
Exxon eyes global job cuts to keep afloat after oil price collapse
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US oil major Exxon Mobil signaled it may downsize its staff worldwide after offering voluntary redundancies among its Australian workforce to mitigate the aftermath of the coronavirus crisis. Read Full Article at RT.com
ECB threw in everything including ‘kitchen sink’ to save market & all for nothing – analyst tells Boom Bust
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The European Central Bank (ECB) failed to get inflation to its target as the eurozone slid into deflation for the first time in years amid coronavirus chaos. Read Full Article at RT.com
‘Deepest recession of our lifetime’: Coronavirus brings Australia’s record economic growth to an end
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Australia has become the latest country to officially enter recession - its first in almost 30 years - as the coronavirus crisis continues to wreak havoc around the globe. Read Full Article at RT.com
Britain holds all the cards in post-Brexit deal with EU – business development leader tells Boom Bust
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Talks on the future of EU-UK relations have stalled despite the looming Brexit deal deadline. RT’s Boom Bust breaks down the key issues holding up the negotiations. Read Full Article at RT.com
