Oil prices slump as new Covid lockdowns threaten global energy demand
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Global crude prices continued their slide on Monday, after Brent blend had its steepest decline last week since April. Concerns are growing that new lockdowns could hit the global demand for fuel. Read Full Article at RT.com
Ryanair boss blasts government lockdowns as ‘FAILURE’ after air traffic plummets 80%
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European carrier Ryanair said on Monday it will operate a “significantly reduced flying schedule” in the next six months compared to its original expectations due to Covid-related restrictions tightening across Europe. Read Full Article at RT.com
China’s factory activity at near-decade high as pandemic fallout fades
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Activity in China’s manufacturing sector accelerated at the fastest pace in nearly a decade in October as domestic demand surged. A private business survey showed on Monday the economy is quickly recovering from the Covid crisis. Read Full Article at RT.com
Many airline companies won’t survive Covid crisis, aviation body warns
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The coronavirus pandemic will result in fewer airline companies globally because firms are currently being taken over or going under, the head of the International Air Transport Association (IATA), Alexandre de Juniac has said. Read Full Article at RT.com
Gold demand plunges to 11-year low – World Gold Council
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Gold lost its shine for investors and central banks in the third quarter, the World Gold Council (WGC) said in its latest report, as the coronavirus pandemic weighed on global interest in the precious metal. Read Full Article at RT.com
Russia adds $4.5 BILLION to foreign exchange reserves in 1 week
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Russian gold & foreign currency reserves have increased to $589.8 billion, according to the latest data released by the central bank. Read Full Article at RT.com
Pandemic-related travel disruptions wipe out $730 BILLION in global tourism revenue – UN
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The number of international arrivals plunged by 70 percent for the first eight months of 2020 compared to a year earlier, amid the collapse in travel caused by the pandemic, according to the UN World Tourism Organization (UNWTO). Read Full Article at RT.com
US economic rebound using 'helicopter money' not viable, strategist tells Boom Bust
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The US saw the strongest quarterly growth between July and September, when the economy grew at an annualized rate of over 33 percent. It comes after the Covid-19 outbreak caused a record drop in the previous quarter. Read Full Article at RT.com
Chinese yuan beats Asian peers with biggest weekly gains
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The yuan has continued to strengthen against the US dollar at the end of the week, rising most of all currencies in the Asia region, amid the strong recovery of the Chinese economy. Read Full Article at RT.com
US economy may face unprecedented crash without another massive injection, Professor Wolff tells Boom Bust
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The US economy is currently crippled by two simultaneous crises – rising Covid infections and an economic crash that happens every several years – Professor Richard Wolff told RT’s Boom Bust. Read Full Article at RT.com
China coming out of Covid-19 crisis intact, like America emerged after World War II – entrepreneur tells Keiser Report
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Max Keiser talks to entrepreneur Dan Collins, who is back in the United States after 20 years in China. They discuss Washington’s ongoing trade war with Beijing. Read Full Article at RT.com
Washington may allow China’s Huawei to receive vital chip supplies for its non-5G business – report
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The US could be easing its draconian sanctions against Huawei by letting more chip suppliers ship components to the Chinese tech company – as long as they are not used for developing 5G technology. Read Full Article at RT.com
India inks trade deals with Britain to broaden bilateral investment
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The UK and India have announced agreements on financial services, infrastructure, and sustainable finance at the 10th Economic and Financial Dialogue (EFD) between the two countries. Read Full Article at RT.com
Russia’s crude oil exports drop 8% in January-August
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Russia’s crude oil exports dropped by 7.9 percent year over year in the period January to August, according to Russian federal customs data cited by local cargo analytics outlet SeaNews. Read Full Article at RT.com
Dow down 943 points, stock markets crash on fear of more lockdowns as global number of Covid-19 cases grows
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Global stocks dropped sharply on Wednesday amid investor fears that rising coronavirus numbers in the United States and Europe could halt economic recovery. Read Full Article at RT.com
Dow down 800: Stock markets plummet on fear of more lockdowns as global number of Covid-19 cases grows
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Global stocks dropped sharply on Wednesday amid investor fears that rising coronavirus numbers in the United States and Europe could halt economic recovery. Read Full Article at RT.com
Americans may not get more stimulus checks until Valentine's Day, former Fed insider tells Boom Bust
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While hopes that a new coronavirus stimulus deal will be adopted before the election are fading, there is a possibility that Americans won’t see paychecks for months from now, ex-Fed insider Danielle DiMartino Booth believes. Read Full Article at RT.com
Indian economy roars back to life following coronavirus blow
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Asia's third-largest economy, India, accelerated its recovery in September thanks to stabilizing consumer demand and activity in the manufacturing sector, which returned to pre-crisis levels. Read Full Article at RT.com
Sooner or later, every bubble finds a pin – Peter Schiff
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A selloff and political dynamics are driving the stock markets right now, according to veteran stockbroker Peter Schiff. He explores why the markets and the economy are so dependent on, and desperate for, stimulus. Read Full Article at RT.com
China looks to Mongolia for coking coal after banning Australian imports
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China received more metallurgical coal from neighboring Mongolia in September than from its once-key supplier Australia, amid escalating tensions between Beijing and Canberra. Read Full Article at RT.com
Almost 200 European airports may go bust, putting nearly 280,000 jobs at risk
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ACI Europe airports association warns that 193 airports are at risk of insolvency in the coming months if passenger traffic does not start to recover from the coronavirus shock. Read Full Article at RT.com
Mystery crypto whale just moved over $1.1 BILLION in bitcoin, paying less than $4 for transaction
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The bitcoin network has recently seen the largest dollar value transaction in history, as an anonymous holder moved more than 88,857 bitcoin (BTC) worth around $1.15 billion. Read Full Article at RT.com
China in post-Covid race for global economic dominance – Max Keiser
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Max Keiser and Stacy Herbert of the Keiser Report look into corporate buybacks of the biggest US corporations which have continued for two decades, while in China business is booming. Read Full Article at RT.com
Pandemic cuts global foreign direct investment in half – UN report
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A United Nations trade report issued on Tuesday says that foreign direct investment (FDI) has plunged by 49 percent around the world in the first half of 2020 from the same period a year ago. Read Full Article at RT.com
The Islamic State has called on its members to start targeting Saudi Arabia oil infrastructure as punishment for the Kingdom warming up to Israel. Read Full Article at RT.com
Russia to open WORLD’S LARGEST gold mine in Siberia
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Russia's largest gold miner Polyus said it is working on securing 100 percent ownership of the Sukhoi Log gold deposit in Siberia, which has estimated reserves of 540 million tons of ore, containing 40 million troy ounces of gold. Read Full Article at RT.com
Economies of Mideast & Central Asia may not fully recover from coronavirus for at least a decade – IMF
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The Covid-19 pandemic may inflict deeper economic pain for countries of the Middle East and Central Asia than previous recessions, the International Monetary Fund has warned. Read Full Article at RT.com
Russian investors prefer cryptocurrencies over gold – World Gold Council
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While gold is considered a safe heaven, it is not currently a mainstream investment among Russians, whose money is more likely to go into other options, including cryptocurrencies. Read Full Article at RT.com
Global trade to take major hit this year with Covid-19 resurgence threatening more damage – UN report
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The coronavirus crisis is set to cut the volume of global trade by seven to nine percent in 2020 compared to the previous year, a United Nations trade body has said, warning of still uncertain recovery prospects. Read Full Article at RT.com
China may be ramping up de-dollarization by dumping US Treasuries, experts say
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Beijing may be speeding up the diversification of its foreign exchange reserves away from US dollar assets in response to Washington’s potential sanctions, the South China Morning Post reported, citing analysts. Read Full Article at RT.com
Huawei’s revenue growth slows sharply as Covid-19 & US sanctions bite
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Chinese telecoms giant Huawei said the company’s revenue growth slowed significantly in the third quarter of 2020 as a result of the Covid-19 pandemic and US sanctions, which had disrupted its business. Read Full Article at RT.com
Hong Kong slaps Goldman Sachs with record fine over looting of Malaysia’s state fund
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Goldman Sachs (Asia) has been fined $350 million by Hong Kong’s Securities and Futures Commission (SFC) for its role in a multibillion-dollar scandal that involved top Malaysian officials, including its former prime minister. Read Full Article at RT.com
US economy looks to be on indefinite life support from government, Professor Wolff tells Boom Bust
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The US is facing a very serious economic downturn and the current “political bickering” about new stimulus measures isn’t doing any good for the American people, Professor Richard Wolff told RT’s Boom Bust. Read Full Article at RT.com
Russia warns of consequences of US sanctions against Nord Stream 2
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If Washington proceeds with sanctions against the Russia-led natural gas pipeline, Nord Stream 2, it will hurt a wide range of Western contractors and investors involved in the undertaking, the project operator has warned. Read Full Article at RT.com
World’s largest & most powerful nuclear icebreaker joins Russia’s Arctic fleet
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Russia’s newest nuclear-powered icebreaker, the Arktika, will start operating in the Arctic waters of the Northern Sea Route (NSR) in December after the vessel’s acceptance and delivery certificate was signed on Wednesday. Read Full Article at RT.com
Russia's Lukoil looks to boost oil production in Iraq
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Russia’s second-largest producer, Lukoil, is eager to increase its oil production in Iraq once the production cuts of the OPEC+ group end, Egor Zubarev, Managing Director of Lukoil Mid-East, told Bloomberg. Read Full Article at RT.com
The death of the American Empire will come from suicide – Max Keiser
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The hosts of RT’s Keiser Report say that the US Treasury market is now so large that the only way to keep it under control is for the Federal Reserve to intervene. Read Full Article at RT.com
Bitcoin will shoot through the roof as election uncertainty sweeps through markets, analyst tells Boom Bust
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There are four main forces currently driving US stock markets ahead of the elections – the spread of Covid-19, the stimulus deal, the Fed’s policy and the vote itself – says the head of a capital markets consultancy firm. Read Full Article at RT.com
Democratic elections sweep may be good for stock market in the short-run, but ‘the dollar is going to get KILLED’ – Peter Schiff
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As markets begin to handicap the US presidential race, they seem to be viewing a Biden win as a positive for the stock market, which doesn’t really make sense, according to economist Peter Schiff. Read Full Article at RT.com
