Daily Management Review
Economics

British Steel goes bankrupt

One of the largest British steel companies, British Steel, went bankrupt after the British government refused to give it a loan of tens of millions of pounds. The authorities announced start of liquidation of the company established three years ago in order to save several factories and tens of...

Goldman Sachs forecasts falling profits to Apple in case of ban in China

Per share profit of the American company Apple will fall by 29% if the Chinese authorities decide to ban its products in response to US actions against Huawei, analysts at Goldman Sachs believe. According to analysts, this assessment includes share of China and Hong Kong in global sales of Apple,...

Consortium of Banks Plans To Invest Nearly ‘$50 million’ In Ambitious ‘Digital Cash System’

This time, banks have taken the central banks and regulators on board to ensure that their digital cash has an equivalent value with fiat currency. Many of largest banks across the world are gearing up to invest an amount of nearly “$50 million” in creating “a digital cash system” which would use...

US Economy Can Be Damaged By Trump's China Trade War, Says OECD

There can be significant damage to the US economy as well as for the rest of the world if there is an extension of the US-China trade war. This was said as a warning to the US president Donald Trump by the most influential economics thinktank of the west.   As much as 0.7 per cent could be...

Singapore lowers GDP growth forecast for 2019

In January-March, GDP of the city increased by 1.2% compared with the same period last year, according to the final data of the government. A preliminary estimate of growth was 1.3%. According to revised data, in GDP grew by 1.3% Q4 2018. The growth of the economy in the first quarter was minimal...

JPMorgan economists predict a possible Bitcoin collapse

JPMorgan noted that the actual price of Bitcoin significantly exceeded its “production price”. In 2017, this phenomenon was followed by a collapse. The price of Bitcoin jumped higher than its intrinsic value, and this is reminiscent of 2017, when a leap was followed by a collapse, Bloomberg said...

Austria to hold early parliamentary elections

Austrian Chancellor Sebastian Kurz announced termination of the coalition of the Austrian People’s Party with the ultra-right Freedom Party after the party leader Heinz Christian Strache resigned as vice-chancellor and chairman of the political association because of a loud media scandal. “Give it...

The US lifts restrictions on steel and aluminum supply from Canada and Mexico, wants to renew the USMCA

The United States abolished protective duties on imports of steel and aluminum from Canada and Mexico, thus removing the main obstacle to ratifying the renewed USMCA free trade agreement in North America. Also the US Ministry of Trade on Friday reported that the decision on duties on the import of...

Auto Firms Unhappy At Trump’s Suggestions Some Firms A Threat To US National Security

US President Donald Trump on Friday declared that some imported vehicles and parts pose a national security threat but delayed a decision for as long as six months on whether to impose tariffs to allow for more time for trade talks with the European Union and Japan.    The...

Reuters Poll Finds US-China Trade War Increased Risk Of US Recession

In a poll of economists posted by Reuters, the majority of the respondents opined that the risk of an recession in the United States has been increased by the U.S.-China trade war over the last month. The economists also said that there is a 40 per cent chance of a US recession happening in the...
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