Biden’s corporate tax rate hike could kill millions of jobs, business group’s study finds
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New research from the US National Association of Manufacturers (NAM) found that about one million jobs would be lost in the first two years if the corporate tax rate increased to 28% and other policies went into effect. Read Full Article at RT.com
No signs of demand recovery: Global air passenger traffic continues to fall, IATA says
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International air passenger demand plunged 88.7% in February compared with the pre-Covid levels of February 2019, in a further drop from the 85.7% year-to-year decline recorded in January, said the global airline industry body. Read Full Article at RT.com
Could rapid development of China’s digital currency threaten US' global dominance? RT’s Boom Bust digs in
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While many countries around the globe are embracing the idea of having their own digital currencies, China has outpaced others in the race for a financial technology breakthrough with its digital yuan. Read Full Article at RT.com
Coinbase reports record $1.8 BILLION revenue for Q1 ahead of its Nasdaq listing
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US cryptocurrency exchange Coinbase revealed that its revenue for the January-March period topped $1 billion, surpassing revenue for all of last year. The company attributed the explosive growth partly to bitcoin’s bull market. Read Full Article at RT.com
IMF raises world economic growth forecast, says way out of crisis ‘increasingly visible’
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The International Monetary Fund (IMF) said on Tuesday it expects the global economy to grow by 6% in 2021, up from its 5.5% forecast in January. The stronger economic recovery was projected due to coronavirus vaccine rollouts. Read Full Article at RT.com
India wants TikTok parent ByteDance to deposit $11 million to get access to frozen bank accounts – media
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An Indian court has reportedly rejected ByteDance’s plea to unblock its bank accounts, frozen amid the probe of possible tax evasion, until the Chinese company deposits around $11 million to compensate for its financial dealings. Read Full Article at RT.com
One step closer: India could complete construction of WORLD’S HIGHEST railway bridge by end of year
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Indian Railways said on Monday it has completed construction of the steel arch of the iconic Chenab Rail Bridge, which will be the world’s highest railway bridge after being completed by 2022. Read Full Article at RT.com
US retaliation for taxing its tech giants may be as high as $900 MILLION – media
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Washington is reportedly moving forward with its additional duties for hundreds of billions in imports from six nations in response to digital service taxes targeting the likes of Google and Amazon. Read Full Article at RT.com
When will music fans be able to really rock out again, and on what terms? RT’s Boom Bust asks an expert
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Vaccination campaigns that have been rolled out across the world are bringing fresh hope to millions of music fans, who are itching to once again attend concerts and music festivals. Read Full Article at RT.com
China mulls new bourse to lure overseas-listed firms – media
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Beijing is exploring options to establish a new stock exchange that targets firms listed overseas and could bolster the global status of its onshore share markets, Reuters reported, citing sources. Read Full Article at RT.com
Robots threaten to replace hundreds of thousands of oil & gas jobs by 2030 – report
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Robots could steal the jobs of around one in five oil and gas workers worldwide in the next 10 years as more companies turn to automation to cut costs, new analysis from Rystad Energy shows. Read Full Article at RT.com
Russian economy reviving faster than expected as Moscow opts against another Covid lockdown – Bloomberg
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A crucial decision by Moscow not to impose further anti-Covid restrictions has reportedly helped Russia’s economy to continue rebounding from the recession it saw in the fourth quarter of last year. Read Full Article at RT.com
‘Highest form of money’: Russia set to have first digital ruble prototype this year
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The launch of the first prototype of the new form of Russia’s national currency, the digital ruble, could be just several months away, the head of the State Duma Committee on the Financial Market, Anatoly Aksakov, has told RT. Read Full Article at RT.com
EU response to Covid-19 pandemic has cost six million jobs, young workers worst affected
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The EU’s response to the Covid-19 pandemic has wiped out around six million jobs in the bloc, half of which were filled by young workers, the European Commission has said. Read Full Article at RT.com
Boom Bust digs into privacy issues of blockchain-protected digital ‘vaccine passports’
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South Korea announced it will roll out blockchain-protected digital ‘vaccine passports’ to immunized citizens, joining other nations introducing such certificates. This could allow travelers to show digital proof of vaccination. Read Full Article at RT.co
Bitcoin price surge may be driving up interest in digital yuan, Bank of China says
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The recent rise of bitcoin could be among the reasons for renewed interest in the Chinese digital yuan project, according to the People’s Bank of China (PBOC). The world’s top crypto, bitcoin, is effectively banned in the country. Read Full Article at RT.
Global stocks shoot past all-time high of $106 TRILLION as imminent end of Covid-19 pandemic heats up market sentiment
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The total price of shares on the world’s stock markets has reportedly pushed past $106 trillion, marking a record high in the entire history of global financial trading. Read Full Article at RT.com
Oil rallies after OPEC+ decision to gradually increase production
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The price of crude surged nearly 4% on Friday, following a decision by the Organization of the Petroleum Exporting Countries and its allied producers (OPEC+) to add more than two million barrels per day to the market by July. Read Full Article at RT.com
S&P 500 crosses 4,000 for the first time after Biden unveils $2.25 trillion spending plan for infrastructure
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Technology shares, led by chipmakers, have seen major gains as investors’ sentiment lifted on strong optimism about US economic growth, along with a buoyant earnings outlook by US computer chip maker Micron. Read Full Article at RT.com
We’re becoming one with the data: Keiser Report looks at a reality where EVERYTHING is spying on us
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Max Keiser and Stacy Herbert discuss surveillance capitalism – “the panopticon built by private corporations” – which is collecting and selling the data of their customers. Read Full Article at RT.com
Goldman set to join bitcoin stampede with plans to offer cryptos to wealthy investors
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Banking powerhouse Goldman Sachs is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group, CNBC reported, citing an internal company memo. Read Full Article at RT.com
The future of US liquefied natural gas hangs in the balance
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US liquefied natural gas has the potential to be vital geopolitical tool for the US, and a key part of its energy future, but the emissions associated with the fuel may become a problem. Read Full Article at RT.com
Boom Bust explores what Biden’s $2 TRILLION infrastructure plan is all about
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US President Joe Biden is expected to unveil a massive infrastructure spending plan, the first of a two-part proposal to help the nation's economy recover from the coronavirus pandemic. Read Full Article at RT.com
One bitcoin will be worth a Lamborghini by year's end, and a Bugatti by 2023 – Kraken CEO
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The dollar-based long-term price predictions for bitcoin are flawed, according to cryptocurrency exchange Kraken’s CEO Jesse Powell. He proposes measuring bitcoin in luxury car prices, due to the inflationary nature of fiat money. Read Full Article at RT.co
Russian economy set to perform better than expected after Covid-19 crisis – World Bank
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The World Bank has raised its outlook for the Russian economy. Despite existing sanctions and pandemic-linked risks, it expects the country’s gross domestic product (GDP) to grow by around 3%. Read Full Article at RT.com
Cryptos stride further into mainstream as new PayPal feature lets users pay with bitcoin, ethereum & more
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PayPal has rolled out a new service which introduces cryptocurrencies as a form of payment and enables US buyers to use their crypto holdings to pay for goods with millions of online merchants. Read Full Article at RT.com
Is Brexit-induced red tape going to stop UK exports to Europe? RT’s Boom Bust finds out
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A recent poll conducted by the Federation of Small Businesses showed that one in four small UK exporters had to halt sales to customers in the European Union due to red tape caused by Brexit. Read Full Article at RT.com
‘Parabolic rise’ coming: Gold & silver will take off again, former financial analyst tells Keiser Report
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Max Keiser interviews the author of ‘The coming collapse of the dollar’, John Rubino, about the relative weakness of gold in a time of endless money printing. Read Full Article at RT.com
Global banks bracing for losses amid US hedge fund collapse
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World banks may lose over $6 billion from the downfall of the US investment firm Archegos Capital, sources told Reuters. Regulators are closely monitoring the situation as panic spreads about the possible scale of the fallout. Read Full Article at RT.com
Southwest orders 100 Boeing 737 MAX planes while air travel demand still erratic
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US carrier Southwest Airlines announced on Monday an agreement to buy 100 of Boeing’s 737 MAX 7 planes as it plans to retire older jets. It is the largest order for the troubled jet since its grounding in 2019. Read Full Article at RT.com
Visa settles 1st payment transaction with crypto in ‘milestone’ move for industry
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International payment system Visa has announced that it’s testing the ability to settle payments in USD Coin (USDC), becoming the first major payment platform to accept transactions directly in the stablecoin. Read Full Article at RT.com
‘Catastrophic consequences for people’s lives’: Debt crisis looming for developing world due to Covid response, UN chief warns
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The world faces severe problems of debt sustainability in the wake of the coronavirus crisis that have not been properly understood or addressed, United Nations (UN) Secretary-General Antonio Guterres told the Financial Times. Read Full Article at RT.com
Wall Street banks ditch $19 billion of stocks in ‘unprecedented’ block trade selloff – media
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Goldman Sachs and Morgan Stanley have reportedly sold $19 billion worth of shares in Chinese tech and US media companies. Traders are now wondering what caused the unusually massive move and whether it will continue next week. Read Full Article at RT.com
Russia promotes Arctic sea route as viable alternative to blocked Suez Canal
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The Northern Sea Route could become an effective alternative to the Suez Canal, which has been completely shut down since Tuesday, state nuclear energy corporation Rosatom said in a series of half-joking tweets. Read Full Article at RT.com
Tunnel vision? Boom Bust explores Elon Musk’s idea to solve traffic congestion in Miami
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City of Miami Mayor Francis Suarez expressed optimism about billionaire Elon Musk’s proposal to dig a two-mile tunnel under the city to solve its traffic problem. The $30 million tunnel could be built in just 6 months, says Musk. Read Full Article at RT.com
Traffic jam at Suez Canal sends global shipping costs soaring
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Costs of overseas shipments are rapidly rising, as the massive container ship wedged in the Suez Canal is holding up billions of dollars-worth of goods, forcing logistics firms to reroute cargos away from the crucial waterway. Read Full Article at RT.com
Why blockage of Suez Canal could have rollover effect on oil price
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At least $400 million worth of crude oil as well as liquefied natural gas (LNG), refined fuels, and containers full of goods have come to a standstill, after a massive container ship ran aground in the Suez Canal on Tuesday. Read Full Article at RT.com
Sounds very Trumpian! RT’s Boom Bust looks at Trump’s plan to start ‘biggest’ & ‘best’ social media network
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This week was marked by a bombshell dropped by a spokesperson for former US president Donald Trump, Jason Miller, who said that Trump is coming back to social media – but this time on his own network. Read Full Article at RT.com
Bitcoin could become ‘outlawed the way gold was outlawed’ in 1934 – Ray Dalio
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The world’s top cryptocurrency, bitcoin, is enjoying its moment in the sun, but could soon face major resistance by governments looking to rein in the decentralized currency, says the founder of Bridgewater Associates Ray Dalio. Read Full Article at RT.com
Oil nosedives as concern over third wave of Covid-19 crushes demand
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The price of crude plummeted by over 4% on Tuesday, with concerns that new coronavirus curbs and slow vaccine rollouts in Europe will hurt a recovery in demand. Read Full Article at RT.com
