Global food prices continue to rise with poorest countries hit hardest
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World food prices spiked for the ninth consecutive month to hit a six year-high in February, led by sugar and vegetable oils, according to data from the Food and Agriculture Organization (FAO) of the United Nations. Read Full Article at RT.com
WTF is a NFT? RT's Boom Bust explores multi-million crypto industry
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Non-fungible tokens (NFTs) have been gaining in popularity in recent months, with investors and art-lovers spending millions of dollars to claim ownership of something that only exists in digital space. Read Full Article at RT.com
China’s exports surge at record pace from coronavirus-battered levels
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China saw its trade booming in the first two months of the year, with exports rising more than 60 percent in January-February compared to 2020 lows, when the Covid-19 outbreak rattled the world’s second-largest economy. Read Full Article at RT.com
AirAsia’s ‘flying taxis’ set to buzz through the skies in 2022 – CEO
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Despite a tough year for the aviation and travel industry, Malaysian low-cost airline AirAsia is going to launch an air taxi service, the company’s CEO Tony Fernandes has revealed. Read Full Article at RT.com
Venezuela to issue 1-million-bolivar bill, but it’s worth only 50 cents amid raging hyperinflation
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Venezuela is set to have a new highest valued banknote of one million bolivars as soon as next week. But as the sanctions-hit country is facing enormous inflation, the bill is only worth around 50 cents. Read Full Article at RT.com
Tweet for $300K? Twitter boss Jack Dorsey is selling first-ever tweet and the bids are flying in
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The first post on Twitter that appeared on its co-founder and current CEO Jack Dorsey’s account in 2006 is up for sale as an NFT, a nonfungible token. Some social media enthusiasts are ready to spend a fortune on it. Read Full Article at RT.com
Russian agricultural exports surge as trade with China grows
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Russia’s agricultural sector has seen impressive growth in sales abroad this year, according to the latest data published by the AgroExport center under the country’s Ministry of Agriculture. Read Full Article at RT.com
US & China moving from tariff war to technology war, economics professor tells Boom Bust
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Technology is one of the major issues being discussed by China at its national congress this week. The government sees the sector as critical to its drive for modernization and self-reliance over the next decade and a half. Read Full Article at RT.com
US debt on track to double by 2051, putting economy at risk of fiscal crisis – Congressional Budget Office
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US federal debt is expected to double over the next three decades, warns the Congressional Budget Office (CBO). Debt will be equivalent to 202 percent of GDP by 2051, while this year’s debt is expected to be 102 percent. Read Full Article at RT.com
Discount retailer Fix Price fixing to become Russia’s biggest IPO in years
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Russian five-and-dime chain Fix Price is planning to raise as much as $2 billion as it goes public next week. If the listing goes as planned, it could become the biggest Russian retail IPO in history. Read Full Article at RT.com
US axes Trump-era Scotch whisky tariffs for four months in bid to resolve aircraft trade war with UK
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The US said on Thursday it will suspend 25 percent tariffs on Scotch whisky and retaliatory import taxes on other UK products in a bid to resolve the two parties’ on-going transatlantic trade row due to aircraft subsidies. Read Full Article at RT.com
‘Ridiculous’ US sanctions against Russia are ‘political theater’ & not to be taken seriously – Professor Wolff to RT’s Boom Bust
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Washington's punitive measures against Moscow have failed to change Russian policies and new sanctions won’t work either, according to Economic Update host, Professor Richard Wolff. Read Full Article at RT.com
Russians boosted precious metal investments during Covid crisis
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The coronavirus pandemic has spurred a record demand for gold, silver and other precious metals in the Russian capital, state lender Sberbank has revealed. Read Full Article at RT.com
Deloitte to pay Malaysia $80mn for its role in pilfering of state fund 1MDB
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Deloitte will pay Malaysia’s government $80 million to resolve all claims related to its auditing of accounts of scandal-linked state fund 1MDB and its unit SRC International from 2011 to 2014. Read Full Article at RT.com
How to hold Big Tech accountable for violating facial recognition privacy law? Boom Bust finds out
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US tech giant Facebook has been ordered to pay $650 million to settle a class action lawsuit in Illinois for violating a landmark state law aimed at protecting people from invasive privacy practice. Read Full Article at RT.com
Washington slaps tariffs on aluminum imports from 18 countries
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The US Commerce Department has introduced duties on common alloy aluminum sheet from 18 nations. The tariffs come as a result of an anti-dumping and anti-subsidy investigation launched under the Trump administration. Read Full Article at RT.com
Russia’s Gazprom aims to double liquefied natural gas exports by 2025
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Russian energy giant Gazprom said it exported 7 million tons of liquefied natural gas (LNG) in 2020, and is planning to double annual sales by 2025, Pavel Sedov, the head of LNG exports at Gazprom Export, said. Read Full Article at RT.com
‘World has never seen this much wealth created in just one year’: China tops US as home to most dollar billionaires
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One in every two newly minted dollar-denominated billionaires last year stemmed from China, according to the latest Hurun Global Rich List. The country had 1,058 billionaires last year compared with 696 in the US. Read Full Article at RT.com
As global carriers rush to order new aircraft RT’s Boom Bust questions quick recovery of travel demand
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Airlines are starting to position their businesses for a recovery with new aircraft orders as more Covid-19 vaccines are distributed globally. Read Full Article at RT.com
The world’s top cryptocurrency, bitcoin, continued to rally on Tuesday, pushing above $49,000 during early trading. The rally comes as the Chinese government plans to ban crypto mining in the country. Read Full Article at RT.com
Bitcoin soars after Citi says it could become ‘currency of choice’ for global trade
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The world’s largest cryptocurrency, bitcoin, bounced back above $48,000 on Monday, following a report by Citi which suggested that the digital asset could one day become the preferred currency for international trade. Read Full Article at RT.com
Chinese investment in Australia plunges to RECORD LOW amid escalating trade row
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New data from the Australian National University (ANU) showed Chinese investment in Australia dropped by more than 61 percent in 2020, to just over a billion Australian dollars (US$780 million) – the lowest in the past six years. Read Full Article at RT.com
Vaccine passports to bolster British economy and combat impacts of Covid-19 crisis – finance minister
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The idea of giving people certificates confirming their vaccination may help the British economy recover from an unprecedented crash due to the coronavirus outbreak, according to the country’s finance minister, Rishi Sunak. Read Full Article at RT.com
China’s economy could double in size by 2035, eclipsing US along the way – Bank of America
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In terms of post-Covid recovery, China is one of the fastest growing economies in the world and has a good chance to double its GDP by 2035, according to Helen Qiao, head of Asia economics at Bank of America Global Research. Read Full Article at RT.com
Gold price could drop to $1,200 per ounce by 2023, warns Fitch
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International ratings agency Fitch predicts the price of gold will fall to $1,600 per ounce this year and slide further down to $1,400 in 2022 “on increased demand due to investment flows and central bank purchases.” Read Full Article at RT.com
Natural gas production plunged 45% during the Texas freeze
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Natural gas production in Texas collapsed by 45 percent during the cold snap last week, primarily due to freeze-offs, the Energy Information Administration (EIA) said on Thursday, citing estimates from IHS Markit. Read Full Article at RT.com
Short-sellers lose another $2 BILLION on GameStop as independent traders take on Wall Street again
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Those betting on GameStop stock’s price decline, or short-sellers, lost around $1.9 billion in just two days as the Reddit crowd’s favorite “meme stock” renewed its enormous rally. Read Full Article at RT.com
Covid-19 pandemic pushed French economy into worst recession since World War II – report
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Coronavirus-related economic and social restrictions led to a “historic” drop of 8.2 percent in French GDP in 2020, data by the National Institute of Statistics and Economic Studies (INSEE) shows. Read Full Article at RT.com
Bye-bye bitcoin rally? Cryptocurrency slumps by 20 percent in worst week in almost a year
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The world’s most prominent cryptocurrency is heading for its biggest one-week fall in nearly a year after an explosive rally that saw its price hitting new historic highs. Read Full Article at RT.com
Russia inks long-term deal to supply China with liquefied natural gas from Arctic
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Russia’s largest independent gas producer, Novatek, has signed a long-term contract with a Chinese partner as it aims to expand its presence in the fast-growing Asian-Pacific region. Read Full Article at RT.com
Max Keiser: What if bitcoin is not the bubble, but the pin?
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Keiser Report looks at the Washington Post editorial on whether Fed chairman Jerome Powell and Treasury Secretary Janet Yellen will do something about bitcoin revealing the flaw of money printing. Read Full Article at RT.com
British pound extends relentless rally to multiyear highs amid hopes of economic recovery
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Sterling has extended gains against both the US dollar and the euro this week amid news of the UK’s vaccination progress and hopes of economic reopening after strict pandemic lockdowns. Read Full Article at RT.com
Square doubles down on crypto, buying $170mn more in bitcoin
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Jack Dorsey’s financial services company Square extended its crypto holdings by $170 million as part of an ongoing commitment to the cryptocurrency, the firm announced. Read Full Article at RT.com
India is on course to become the world’s largest energy consumer, and Prime Minister Modi is now making natural gas the centerpiece of the nation’s energy plans. Read Full Article at RT.com
Will latest drop stop bitcoin’s fevered rally? RT’s Boom Bust finds out
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After nearly doubling in value this year alone, bitcoin took a hit this week, falling around 10 percent to under $50,000 over the last 24 hours. Read Full Article at RT.com
Bitcoin’s HUGE daily drop sends cryptocurrency market crashing
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The world’s highest-valued digital currency, bitcoin, has seen its biggest drop ever, plummeting below $47,000 per coin from the weekend record of over $58,000 in a span of just 19 hours. Read Full Article at RT.com
Global oil prices top 13-month high on slow restart of US output
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Crude oil futures secured further gains on Tuesday, with both global benchmark Brent and US West Texas Intermediate (WTI) climbing to the highest levels since January 2020. Read Full Article at RT.com
Republicans sound alarm over major U-turn by Biden admin on Russia-to-Europe gas pipeline
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Republican senators in the US have fired a barrage of criticism over a new State Department report that faied to include new entities as targets for sanctions over their participation in the Nord Stream 2 gas pipeline project. Read Full Article at RT.com
Russian e-commerce market posts explosive growth during Covid pandemic
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Online shopping was booming in Russia last year, with trade volumes increasing by nearly 60 percent compared to 2019, according to a business group representing major online retailers operating in the country. Read Full Article at RT.com
Boeing backs decision to suspend 777s with P&W4000 engines by US and Japan, recommends airlines follow suit
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Boeing has urged global carriers to temporarily halt flights of its planes with engines similar to that which suffered a catastrophic failure and exploded mid-flight over the US city of Denver at the weekend. Read Full Article at RT.com
