Chinese yuan’s share of global currency reserves hits new high
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The share of Chinese currency held by global central banks reached a new high of 2.45% in the first quarter of 2021, the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey states. Read Full Article at RT.com
Inflation hurts American working class as Fed prints money like it’s going out of style – RT’s Keiser Report
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RT’s Keiser Report looks at the US’ quantitative easing measures, which were initially sold to Americans as a temporary emergency measure after the 2008 financial crisis, but have since become permanent. Read Full Article at RT.com
US dollar grabs bigger share in global currency reserves, but broader trend indicates shift away from greenback
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The share of the US dollar held by global central banks totaled 59.5% from January through March, up from 58.9% recorded in the previous quarter, according to data revealed by the International Monetary Fund (IMF). Read Full Article at RT.com
Were Miami building’s owners negligent in deadly collapse? RT’s Boom Bust investigates
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As the death toll continues to climb in the wake of the Miami apartment building’s collapse, the owners of the condo are facing mounting lawsuits. Read Full Article at RT.com
OPEC+ fears significant oil glut after current production cut agreement ends
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The OPEC+ alliance expects a significant overhang of oil supply on the market after April 2022 when the current production cut pact expires, Reuters reported on Wednesday, citing an internal report of an OPEC+ panel it had seen. Read Full Article at RT.com
India to provide new loan guarantees to bolster Covid-battered economy
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India’s Ministry of Finance has announced a 6.3-trillion rupee ($84.9 billion) relief package to support the nation’s economy in the fight against the Covid-19 pandemic. Read Full Article at RT.com
Sudden death of bitcoin billionaire leaves behind controversial crypto legacy
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One of the world’s biggest individual bitcoin holders, Mircea Popescu, has reportedly died in Costa Rica at the age of 41, leading to uncertainty over the $1 billion in cryptocurrency he leaves behind. Read Full Article at RT.com
RT’s Keiser Report examines how money-printing is causing growing wealth disparity in the US
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Max Keiser and Stacy Herbert look into the US’ quantitative easing program, which was meant to be temporary but has now become permanent. Read Full Article at RT.com
S&P Global Ratings expects Russia’s economic growth to reach 3.7% this year. The agency has upgraded its previous forecast of 3.3%, published in March. Read Full Article at RT.com
Russia’s largest gold mining company to boost output amid global production drop
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Russian gold mining company Polyus is planning to ramp up production over the next two years, as the overall global output of the precious metal has fallen during the Covid-19 pandemic. Read Full Article at RT.com
China’s investment in new Silk Road countries exceeds $130 BILLION
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The volume of direct investments by Chinese companies in the economies of the countries participating in the Belt and Road Initiative have continued to grow rapidly, according to Chinese Foreign Minister Wang Yi. Read Full Article at RT.com
Volkswagen to stop selling combustion engine vehicles in Europe by 2035
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German carmaker Volkswagen (VW) has announced it will stop selling combustion engine cars in Europe by 2035 as it shifts to electric vehicles. The automaker’s entire fleet is planned to be carbon neutral by 2050 at the latest. Read Full Article at RT.com
After years of massive losses, US shale eyes a $60-billion year
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With oil prices rising to levels not seen in over two years, US shale, bouncing off one of its worst-ever years, could be looking at record profits in 2021. Read Full Article at RT.com
RT’s Boom Bust looks at accelerating crypto crackdown across the world
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The spreading global crackdown on cryptocurrencies, particularly in China, has forced bitcoin miners to start fleeing the country. Boom Bust co-host and crypto analyst Ben Swann gives his insight. Read Full Article at RT.com
China has replaced the United Arab Emirates as India’s second-biggest export destination in fiscal year 2021, with outbound shipments to the neighboring country rising 27% to over $21 billion despite the pandemic. Read Full Article at RT.com
Crypto per carat! Sotheby's to accept cryptocurrency for diamond auction
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The world's largest broker of fine art and jewelry, Sotheby's, will accept cryptocurrency for the first time as payment for a rare diamond, which is expected to fetch up to $15 million at an auction in Hong Kong next month. Read Full Article at RT.com
Will Germany be forced to pay Ukraine for non-existent gas transit from Russia? RT’s Boom Bust investigates
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The Biden administration continues to slam the Nord Stream 2 natural gas pipeline from Russia to Germany despite its reluctant admission that nothing can be done to stop the project. Read Full Article at RT.com
Covid pandemic made rich richer & poor poorer, Prof. Wolff tells Boom Bust
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A new Credit Suisse global wealth report shows that the number of new millionaires increased by over five million during the pandemic year 2020. Read Full Article at RT.com
Can Russia become a major player in helium markets?
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With the launch of new large helium capacities in Russia, the risk of any global helium shortage will cease to be a reality. Read Full Article at RT.com
Covid crisis caused wealth inequality & created millions of new millionaires – Credit Suisse
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The Covid-19 pandemic saw an enormous growth in wealth disparity worldwide in 2020, the Credit Suisse Research Institute says. It reported a 5.2 million increase in the number of millionaires, to a total of 56.1 million people. Read Full Article at RT.com
Why are European regulators targeting US Big Tech? RT’s Boom Bust finds out
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The EU has taken the lead in investigating US technology majors like Google, Apple, Amazon, and Facebook over their alleged monopolistic behavior on the continent. Read Full Article at RT.com
Iran kickstarts production at giant offshore oilfield
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Iran has started pumping oil at a giant new reservoir at the offshore Abuzar oilfield in the Gulf, Iran’s oil ministry news service Shana reported on Tuesday. Read Full Article at RT.com
India considers taxing crypto purchases from overseas exchanges
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India’s tax department is reportedly looking to start applying an ‘equalization levy’ to crypto assets, forcing investors to pay an additional 2% for each purchase from exchanges outside the country. Read Full Article at RT.com
$4,000 Peloton treadmills require additional $39-per-month subscription after safety update
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Owners of Peloton’s $4,000 treadmills have been asked to fork over more cash, after the firm locked the device’s free features due to issues linked to a safety recall, charging another $39 per month just to use the pricey machine. Read Full Article at RT.
Bitcoin's plunge below $29,000 wipes out ALL of this year's gains
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The world’s top digital asset, bitcoin, has suffered a daily plunge of over 11%, dragging the cryptocurrency down to its lowest level this year – $28,993 as of 13:54 GMT on Tuesday, according to data tracked by CoinMarketCap. Read Full Article at RT.com
Bitcoin plunges below $29,000 for first time this year
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The world’s top digital asset, bitcoin, has suffered a daily plunge of over 11%, dragging the cryptocurrency down to its lowest level this year – $28,996 as of 13:59 GMT on Tuesday, according to data tracked by CoinDesk. Read Full Article at RT.com
Bitcoin plunges below $30,000 for first time since January
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The world’s top digital asset, bitcoin, has suffered a daily plunge of over 8%, dragging the cryptocurrency down to its lowest level since January 28 – $29,674 as of 12:44 GMT on Tuesday, according to data tracked by CoinDesk. Read Full Article at RT.com
Google to face another legal challenge as EU launches antitrust probe into its advertising unit
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The European Commission has started a new investigation into Alphabet’s Google to determine if the US tech titan favored its own online display ad technology services, breaching European Union antitrust regulations. Read Full Article at RT.com
OPEC+ may boost oil production to ease global supply deficit
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The Organization of the Petroleum Exporting Countries (OPEC) and its allies will reportedly discuss increasing oil output to meet rising global demand during their upcoming meeting, scheduled for next week. Read Full Article at RT.com
Can other nations follow Russia’s lead in ditching the US dollar? RT’s Keiser Report finds out
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Russia’s divesting from the US dollar gives the country a lot of maneuverability to make its own deals without interference from Washington, says Max Keiser of RT’s Keiser Report. Read Full Article at RT.com
Oil rallies above $75 for first time in more than two years as investors assess tightening market
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Global prices for crude extended their rally, pushing above $75 a barrel for the first time since April 2019, as a rapid rebound from the Covid-19 pandemic across the world underpins increasing fuel consumption. Read Full Article at RT.com
Germany’s anti-monopoly watchdog opens probe against Apple
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Germany’s Federal Cartel Office (FCO) has launched an investigation into Apple to see if the corporation is thwarting competition by abusing its dominant position in the market. Read Full Article at RT.com
Russia boosts grain sales as floating tax on wheat exports bears fruit
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Exports of Russian grain in the first half of June have exceeded the amount sold during all of May, according to shipping data cited by Russian agricultural consultancy SovEcon. Read Full Article at RT.com
Oil price could hit $100 this year on tight supply and rising demand
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The increasingly bullish sentiment in oil markets has several analysts to predict $100 in 2022, but some think that prices could hit that level in 2021 already Read Full Article at RT.com
Bitcoin plummets as China steps up crackdown on crypto miners
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Bitcoin is struggling to stay above $32,000 as a bad run for the world’s most popular digital currency continued on Monday after it fell sharply over the weekend. Read Full Article at RT.com
Miami offers its clean nuclear power to bitcoin miners as it aims to become crypto capital of the world
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Miami Mayor Francis Suarez, who is looking to position the city as a hub for crypto mining activity, announced this week that he is inviting foreign mining companies to establish data centers in the city. Read Full Article at RT.com
West African regional bloc agrees to launch single currency in 2027
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A group of 15 members of the Economic Community of West African States has adopted a new plan to introduce a long-anticipated single currency, according to the Ivorian president of the ECOWAS Commission, Jean-Claude Kassi Brou. Read Full Article at RT.com
US investors boost cash flows into Russia despite sanctions
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Investments by American businessmen in Russia have increased during the sanctions period, according to Valery Garbuzov, director of the Institute for the United States and Canada of the Russian Academy of Sciences. Read Full Article at RT.com
More Brits bought crypto than stocks last year, survey finds
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New research by UK investment firm AJ Bell shows that 7% of British adult respondents reported they had bought crypto over the last year, compared to 5% who invested in stocks and shares ISAs (individual savings accounts). Read Full Article at RT.com
Too little too late: Central banks are about 10 years behind the times with their crypto plans, economist tells RT’s Boom Bust
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Central banks are trying to stay relevant in the cryptocurrency age, so they may make preposterous claims as a way of trying to get the world to pay attention to them, says economics writer Jeffrey Tucker. Read Full Article at RT.com
