Chinese TikTok rival Kuaishou share price nearly triples in IPO debut
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Shares in the Chinese short video app Kuaishou almost tripled on their Hong Kong debut on Friday, surging to HK$338 ($43.60) upon opening, from an IPO price of HK$115 ($14.80). Read Full Article at RT.com
Canada's oil heartland wants to make US pay for scrapped Keystone XL pipeline
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Alberta, Canada’s oil heartland, may seek compensation from the United States after newly inaugurated President Joe Biden moved to nix the Keystone XL Pipeline, Bloomberg said on Thursday. Read Full Article at RT.com
One-word tweet from Elon Musk launches crypto dogecoin into the stratosphere
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Two days after Elon Musk’s self-proclaimed break from Twitter, the eccentric billionaire took to the microblogging platform to set off another crypto craze that evoked an unprecedented surge for dogecoin cryptocurrency. Read Full Article at RT.com
Sharpest decline in aviation history: Passenger traffic plunged 66% last year due to pandemic, IATA says
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The number of global air passengers declined “dramatically” last year due to travel restrictions imposed over the Covid-19 pandemic, the International Air Transport Association (IATA) said on Wednesday. Read Full Article at RT.com
Is Reddit crowd behind silver short-squeeze? RT’s Boom Bust investigates
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A buying frenzy has swept the silver market as the Reddit community rushed over to commodities, with the price of the white metal soaring to an eight-year high this week. Read Full Article at RT.com
China stocking up on chips & high-tech equipment to negate US sanctions
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China is increasing imports of computer chips and equipment required to manufacture them in a bid to mitigate the impact of a US ban on high-tech exports, as Beijing’s semiconductor industry struggles to meet domestic demand. Read Full Article at RT.com
Indian stocks soar to record highs as economic recovery picks up
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India’s key stock indices extended their winning streak to reach new record highs on Wednesday. The rally is driven by positive economic data and government plans to boost spending to secure further recovery from the pandemic. Read Full Article at RT.com
Grain exports by Russia in the current agricultural year, from last July to June 2021, have already hit 34.3 million tons, 25 percent more than during the same period last season. Read Full Article at RT.com
Robinhood is ‘toast’ after GameStop fiasco, says real-life Wolf of Wall Street Jordan Belfort
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The “knee-jerk” decision by Robinhood to stop the trading of high-flying stocks is “a bit troubling,” according to Jordan Belfort, the author of ‘The Wolf of Wall Street’. They could have just as easily raised the margin, he says. Read Full Articl
Central banks do not have the physical gold they pretend to have, fund manager tells Keiser Report
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Max Keiser interviews Egon von Greyerz of GoldSwitzerland.com about the impossibility of price discovery because of the paper gold market, in which $70 trillion is traded every year against $213 billion annual mine production. Read Full Article at RT.com
BP records mammoth loss as pandemic rattles oil industry
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The bloodbath in the energy markets created by the Covid-19 pandemic has left a multi-billion dollar hole in BP’s finances, the oil giant’s quarterly and annual reports have revealed. Read Full Article at RT.com
Washington could put US tech in danger by going after Huawei, Professor Wolff tells Boom Bust
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The US-China ‘phase one’ trade deal has paused a tariff fight between the world’s top two economies that started in 2018. Boom Bust explores US President Joe Biden’s plan for China and Huawei. Read Full Article at RT.com
India's biggest airline expects international travel to recover this year
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IndiGo, India’s flagship airline, has said it expects passenger numbers on international flights to fully recover before the end of 2021, and sees room for growth after the pandemic is over. Read Full Article at RT.com
Silver spike could mean bubbles in metals & other commodities, warns Commerzbank
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The recent Reddit-fueled buying frenzy, which sent silver prices up by as much as 13 percent on Monday, could go on for some time, according to Commerzbank. Some metals and commodities could also be next in line to rally, it said. Read Full Article at RT.com
GameStop, AMC stocks rise as retail traders look to inflict more pain on Wall Street
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Shares of US bricks-and-mortar videogame retailer GameStop and movie theater giant AMC Entertainment surged in pre-market trading on Monday as small traders continue to short-squeeze Wall Street hedge funds. Read Full Article at RT.com
GameStop, AMC stocks rise as retail traders put squeeze on Wall Street giants
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Shares of US bricks-and-mortar videogame retailer GameStop and movie theater giant AMC Entertainment surged in pre-market trading on Monday as small traders look to inflict more pain on Wall Street. Read Full Article at RT.com
Ryanair expects to lose over $1 BILLION this year due to travel restrictions
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European carrier Ryanair said on Monday it expects this fiscal year to be “the most challenging” in its 35 year-history, with the budget airline on track to lose close to €1 billion ($1.2 billion) as a result of the pandemic. Read Full Article at RT.com
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
