LONDON—The Bank of England on Tuesday ditched limits on dividends banks pay out to their shareholders that were first introduced at the outset of the coronavirus pandemic as part of a package of measures to shore up the British economy. The bank’s Financial Policy Committee, which monitors risks to financial stability, said the limits were…
US Consumer Prices Surge in June, Inflation Climbs to 13-year High
July 13, 2021
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AMERICABusinessCCP VirusCOVID-19CPIEconomieseconomypandemicU.S. consumer pricesUnited StatesUSUS NewsWashington
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WASHINGTON—U.S. consumer prices rose by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the economic recovery gathered momentum. The consumer price index increased 0.9 percent last month, the largest gain since June 2008, after advancing 0.6 percent in May,…
Concerns Surround IMF Plan to Flood World With Liquidity
July 13, 2021
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BusinessBusiness & EconomyChinaDollarEconomieseconomyGreat ResetIMFInternationalSpecial Drawing RightsUSWorldyuan
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News Analysis A controversial plan to boost global liquidity means the days of the U.S. dollar being the undisputed king of the international monetary system may be coming to a close, experts told The Epoch Times. Losing that status could contribute to a serious crisis for the United States involving a dramatic loss of economic…
EU Set To Green Light Italy, France, Spain’s Recovery Plans
BRUSSELS—EU finance ministers are set to adopt the recovery plans of 12 EU states on Tuesday, including those of Italy, Spain, and France, paving the way for the first disbursements of EU grants and loans to boost investments. Ministers in a meeting in Brussels are expected to give their green light to the plans prepared…
EU Puts Digital Levy Plans on Hold in Face of US Criticism
BRUSSELS—In a gesture of goodwill to the United States, the European Union on Monday put work on plans for a digital tax levy on hold for the moment to concentrate on finalizing the historic tax decision endorsed by the Group of 20 nations over the weekend. In the face of criticism from U.S. Secretary of…
Cryptocurrency Trading Volumes Slump 40% in June, Data Shows
LONDON—Trading volumes at major cryptocurrency exchanges fell by more than 40 percent in June, research showed on Monday, with a regulatory crackdown in China and lower volatility among the factors depressing activity. Spot trading volumes fell 42.7 percent to $2.7 trillion, with derivative volumes down 40.7 percent to $3.2 trillion, London-based researcher CryptoCompare’s data showed. “Headwinds…
US Should Ban China’s Central Bank Digital Currency: Investment Manager Kyle Bass
July 12, 2021
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2022 winter olympicsBusinessBusiness & EconomyChinaChinese Communist PartyChinese Regimedigital yuanEconomieseconomykyle bassUSUS NewsUS-China relations
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The communist regime in China is going to use its new state-controlled digital currency as a Trojan horse to project its authoritarianism all over the world, warned hedge fund manager Kyle Bass, and it could become a “cancer” plaguing the United States if it is not banned, he said. “Imagine a currency that almost has…
US Should Ban China’s Digital Yuan: Investment Manager Kyle Bass
July 12, 2021
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2022 winter olympicsBusinessBusiness & EconomyChinaChinese Communist PartyChinese Regimedigital yuanEconomieseconomykyle bassUSUS NewsUS-China relations
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The communist regime in China is going to use its new state-controlled digital currency as a Trojan horse to project its authoritarianism all over the world, warned hedge fund manager Kyle Bass, and it could become a “cancer” plaguing the United States if it is not banned, he said. “Imagine a currency that almost has…
Biden Signs Executive Order Targeting ‘Lack of Competition’ in American Economy
President Joe Biden on Friday signed an executive order aimed at increasing competition in the U.S. economy. “For decades, corporate consolidation has been accelerating. In over 75 percent of U.S. industries, a smaller number of large companies now control more of the business than they did 20 years ago. This is true across healthcare, financial…
Biden to Sign Executive Order Targeting “Lack of Competition” in American Economy
President Joe Biden will sign an executive order aimed at increasing competition in the U.S. economy, the White House said Friday. “For decades, corporate consolidation has been accelerating. In over 75 percent of U.S. industries, a smaller number of large companies now control more of the business than they did 20 years ago. This is…
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