Black Thursday

Tory MPs are warning Rishi Sunak that a proposed £30bn tax grab to recoup the costs of the coronavirus crisis will stifle the country’s economic recovery. The chancellor is reportedly considering what the Daily Mail describes as a “huge fiscal raid” in the Budget in November, after emergency spending to tackle the pandemic…

When the pandemic lockdowns in the United States first began, there were troubling signs that women would bear the brunt of the coming economic collapse. As layoffs started, more women than men lost jobs; by April, unemployment was almost 3 percentage points higher for women. A few months later, those…

Olusegun Bamgbose, Esq., National Coordinator, Concerned Advocates for Good Governance, CAGG, has warned that Nigeria’s economy may crash or be grounded by 2026. Bambgose was speaking about the sovereignty clause inserted in the agreement to secure $500m loan from China. The loan agreement between Nigeria and China has indeed generated…

“It would be hard to pack more error into so few words.”—Milton Friedman, in 1994, commenting on an article by Judy Shelton supporting a gold standard.This week, the Senate is expected to take up the nomination of Judy Shelton to be a member of the Federal Reserve Board. She is…

View photosKemar Roach brought up his 200th Test wicket in this third Test - GETTY IMAGESCivil war, not for the first time, was engulfing Caribbean cricket. A few days before their home series against Bangladesh in 2009, every member of the West Indies squad went on strike. A motley group…

Zimbabwe President Emmerson Mnangagwa is at odds with a business tycoon who could help Zimbabwe. President Emmerson Mnangagwa’s administration on June 27 restricted almost all mobile-money transactions. The battle pits Mnangagwa, who came to power in a November 2017 coup, against Strive Masiyiwa, the businessman who founded and controls Econet.…

After the 2008 stock and housing market crash plunged the U.S. and world into economic upheaval, governments came to the rescue, with trillions of dollars in corporate bailouts. Executives at the insurance firm AIG were so happy with their US$152-billion package (more than U.S. and European countries spent in total…

Zimbabwe’s security force leaders sidelined the nation’s economic chiefs and forced the government to close the stock exchange and halt most mobile-money transactions, people familiar with the situation said.The June 26 order that sought to stabilise the nation’s currency came after pressure from the Joint Operations Command and was made…

The CDC has all but confessed that the U.S. is losing control over the virus.V-shaped recovery theory will prove to be a fantasy when another wave of virus disrupts business.When the reality of a permanently scarred economy begins to hit the bulls, the U.S. stock market could undergo a considerable…

Earlier this week PlusToken, one of the largest scams in the cryptocurrency world, tried to move 789,500 Ether (ETH), but the movement of these stolen funds were temporarily held up by congestion issues within the Ethereum network.The $186 million transfer came from a known Ethereum address and was later split…