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World

A collection of 276 issues

Ruthless competition and government support have led to an electric car revolution in China

When Daniel Zhu bought his first electric car earlier this year, the main motivation was not environmentalism. It was practical. Getting a license plate for a gasoline car in Beijing was almost impossible. What's more, Arcfox, a Chinese brand created by state-owned BAIC Group in 2020 as a potential Tesla

Cryptocurrency not Money...

According to Krugman, "In 14 years, however, cryptocurrencies have hardly invaded the traditional role of money. They are too inconvenient to use for conventional transactions. Their values are too unstable." Bindsale and Schaaf confirm this: "Bitcoin's conceptual design and technological flaws make it a questionable means of payment: real Bitcoin

Banking sector

90% of companies providing accounting services provide gray services. From paper VAT to cashless receipts

Polychain has invested $7 million in a bitcoin wallet developer.

Self-storage bitcoin developer Foundation Devices has raised $7 million in a seed round led by Polychain Capital. Other participants include Greenfield Capital and Lightning Ventures, as well as existing startup investors Third Prime, Warburg Serres, Unpopular Ventures and Bolt. Foundation Devices' flagship products are the Passport hardware wallet, which uses

Bloomberg believes that the worst for Russia's economy is yet to come

Analysts polled by the agency believe that Russia's GDP in the first quarter of 2023 will fall by 8%. This will be the peak of the recession. According to the forecast, the recession in the Russian economy will last 2 years: a fall of 3.5% in 2022 and 2%

Saudi Arabia cuts oil production by 84,000 bpd

OPEC's total oil production fell by 210,000 bpd. OPEC also cut global oil demand growth by 100,000 bpd. According to OPEC, the world economy is entering a period of severe uncertainty. Oil prices may react to such news by rising.

October consumer price index data is a welcome relief, but there is still a long way to go, - Logan of the Fed

It may soon be appropriate to slow the pace of rate hikes. The Fed will gradually prepare for a reversal. But the U.S. economy has already begun to cool a bit. Unemployment is up and inflation is falling and will likely continue to fall as real wages have fallen

Amazon will suspend the hiring of its corporate workforce

Nevertheless, the company believes it will be able to hire a significant number of employees in 2023. For now, Amazon, like many IT giants, is trying to cut labor costs as much as possible. However, there is little impact on the macroeconomy: vacancies are plentiful in the market, and human

TikTok could be banned in the U.S., Axios

The Council on Foreign Investment in the United States (CFIUS) should take action to ban TikTok, Brendan Carr, one of five commissioners of the Federal Communications Commission, told Axios. The TikTok app has more than 200 million downloads in the U.S. The U.S. continues to fear "threats to

A new payment system appeared in Russia - Frank RG

The Bank of Russia has registered a new payment system, its name is "Astrasend". The operator of the new system is NPO "Inkahran", which, in turn, belongs to the Moscow Credit Bank. So far not much is known about the payment system. But in its rules it is noted that