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Chinese economy is only numbers on paper! 🤡 This is enough for stupid Blackrock and WEF but not enough for reality.
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Forwarded from The Economy News
Egypt Emerges As Top Buyer For Russian Grain — Wheat Imports Soar To New Heights
Egypt was the largest buyer of Russian wheat in the 2022-2023 agricultural year, according to data from the Russian Grain Union (RGU) cited by the Agrotrend news outlet.
The North African country imported 11.9 million tons of Russian wheat, 22.5% of all Russian exports during the stated period. Türkiye was the second biggest importer with 10.2 million tons (19.3% of Russian exports), followed by Algeria (3.3 million tons), Iran (3.1 million tons), and Saudi Arabia (3.1 million tons).
Russian traders exported upwards of 53 million tons of wheat to foreign markets, almost one and a half times more than the previous year, while exports in June surged to record highs of 4.2 million tons.
📈 t.me/TheEconomyNews
Egypt was the largest buyer of Russian wheat in the 2022-2023 agricultural year, according to data from the Russian Grain Union (RGU) cited by the Agrotrend news outlet.
The North African country imported 11.9 million tons of Russian wheat, 22.5% of all Russian exports during the stated period. Türkiye was the second biggest importer with 10.2 million tons (19.3% of Russian exports), followed by Algeria (3.3 million tons), Iran (3.1 million tons), and Saudi Arabia (3.1 million tons).
Russian traders exported upwards of 53 million tons of wheat to foreign markets, almost one and a half times more than the previous year, while exports in June surged to record highs of 4.2 million tons.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
Puzder: Bidenomics Spin Vs. Economic Reality
The Biden administration is facing criticism for its handling of the economy amid surging inflation rates. A recent video released by the administration claimed that inflation has fallen under the Biden-Harris administration, but the data shows otherwise. Inflation has actually increased since President Biden took office and is currently at a rate of 4%, nearly three times higher than when he took office. The video also claimed that wages have increased, but adjusted for inflation, average hourly earnings have actually declined. These misleading claims are contributing to the Biden administration’s low approval ratings on the economy.
📈 t.me/TheEconomyNews
The Biden administration is facing criticism for its handling of the economy amid surging inflation rates. A recent video released by the administration claimed that inflation has fallen under the Biden-Harris administration, but the data shows otherwise. Inflation has actually increased since President Biden took office and is currently at a rate of 4%, nearly three times higher than when he took office. The video also claimed that wages have increased, but adjusted for inflation, average hourly earnings have actually declined. These misleading claims are contributing to the Biden administration’s low approval ratings on the economy.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
US Consumers Are Suffering In A Less Than "Robust" Economy
The author argues that Keynesian policies, such as massive government spending and currency printing, have had negative effects on the US labor market and citizens. Nonfarm payroll data shows a weak recovery and the labor force participation rate and employment-population ratio remain below pre-pandemic levels. The author argues that workers are not satisfied due to elevated inflation and negative real wage growth. US citizens are surviving on record levels of debt, with credit card debt at a record high and personal savings well below pre-pandemic levels.
📈 t.me/TheEconomyNews
The author argues that Keynesian policies, such as massive government spending and currency printing, have had negative effects on the US labor market and citizens. Nonfarm payroll data shows a weak recovery and the labor force participation rate and employment-population ratio remain below pre-pandemic levels. The author argues that workers are not satisfied due to elevated inflation and negative real wage growth. US citizens are surviving on record levels of debt, with credit card debt at a record high and personal savings well below pre-pandemic levels.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
'Britcoin' "Will Change Everything", Analyst Warns
A Bank of England (BoE) digital pound could result in a "complete restructure" of the UK's financial system and hand the government greater control over how people use their money, warned financial analyst Susie Violet Ward. There are some 130 countries exploring the idea of a central bank digital currency (CBDC), and the BoE and the UK Treasury are anlysing feedback on how to lay the groundwork for such an initiative. If launched, firms such fintech companies would offer customers digital wallets, applications that are needed to manage the digital currency.
📈 t.me/TheEconomyNews
A Bank of England (BoE) digital pound could result in a "complete restructure" of the UK's financial system and hand the government greater control over how people use their money, warned financial analyst Susie Violet Ward. There are some 130 countries exploring the idea of a central bank digital currency (CBDC), and the BoE and the UK Treasury are anlysing feedback on how to lay the groundwork for such an initiative. If launched, firms such fintech companies would offer customers digital wallets, applications that are needed to manage the digital currency.
📈 t.me/TheEconomyNews
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Forwarded from The Economy News
Not Just Bud Light: Anheuser-Busch’s Other Beers Are Also Suffering
Sales of other Anheuser-Busch-owned beer brands are also being affected by boycotts amid Bud Light and Budweiser's decline. According to Bump Williams Consulting, Michelob Ultra and Busch Light have both seen a decline in sales. On a comparative basis, there has been a 4.3% drop in Michelob Ultra sales and an 8.5% decrease in Busch Light sales, based on NielsenIQ data. There has been a 10.2% fall in Budweiser sales, while Bud Light sales mirrored the previous week with a 27.5% decrease.
📈 t.me/TheEconomyNews
Sales of other Anheuser-Busch-owned beer brands are also being affected by boycotts amid Bud Light and Budweiser's decline. According to Bump Williams Consulting, Michelob Ultra and Busch Light have both seen a decline in sales. On a comparative basis, there has been a 4.3% drop in Michelob Ultra sales and an 8.5% decrease in Busch Light sales, based on NielsenIQ data. There has been a 10.2% fall in Budweiser sales, while Bud Light sales mirrored the previous week with a 27.5% decrease.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
Samsung Fights Back Against Beijing's Tech Theft, Sues Chinese Firm BOE Over Patent Infringement
Samsung Display, a subsidiary of South Korean tech giant Samsung, has initiated a patent infringement lawsuit against Chinese display maker BOE. The lawsuit, filed in a Texas court, accuses BOE of unlawfully using four Samsung OLED display technologies in the production of iPhone 12 displays. The case is Samsung's first against BOE after repeated warnings about unauthorised use of its patented technology. The lawsuit is part of an ongoing legal feud between the two companies, which began in May 2021 with a notice of patent infringement to BOE.
📈 t.me/TheEconomyNews
Samsung Display, a subsidiary of South Korean tech giant Samsung, has initiated a patent infringement lawsuit against Chinese display maker BOE. The lawsuit, filed in a Texas court, accuses BOE of unlawfully using four Samsung OLED display technologies in the production of iPhone 12 displays. The case is Samsung's first against BOE after repeated warnings about unauthorised use of its patented technology. The lawsuit is part of an ongoing legal feud between the two companies, which began in May 2021 with a notice of patent infringement to BOE.
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Forwarded from The Economy News
Russian Mining Giant To Delist From London Stock Exchange
Russian precious metals miner Polymetal has called a shareholder meeting to secure approval for its delisting from the London Stock Exchange (LSE), the company said in a statement on Monday. Polymetal was targeted by sanctions from Western countries and countersanctions from Moscow.
The company also plans to redomicile its UK headquarters from the island of Jersey to the Astana International Financial Centre in Kazakhstan. Redomiciliation involves a company moving its place of the registry while maintaining the same legal identity.
Polymetal is one of the world’s ten largest gold producers and is among the top five for silver. It has ten gold and silver mines in Russia and Kazakhstan and branches worldwide.
📈 t.me/TheEconomyNews
Russian precious metals miner Polymetal has called a shareholder meeting to secure approval for its delisting from the London Stock Exchange (LSE), the company said in a statement on Monday. Polymetal was targeted by sanctions from Western countries and countersanctions from Moscow.
The company also plans to redomicile its UK headquarters from the island of Jersey to the Astana International Financial Centre in Kazakhstan. Redomiciliation involves a company moving its place of the registry while maintaining the same legal identity.
Polymetal is one of the world’s ten largest gold producers and is among the top five for silver. It has ten gold and silver mines in Russia and Kazakhstan and branches worldwide.
📈 t.me/TheEconomyNews
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Forwarded from The Economy News
Supreme Court Revives Whistleblowers' Medicare, Medicaid Fraud Lawsuits
The US Supreme Court has revived two whistleblower lawsuits that accuse companies of defrauding Medicare and Medicaid. The cases relate to alleged violations of the federal False Claims Act (FCA), which is used by the government to fight healthcare fraud. The rulings follow a unanimous decision in June reviving whistleblower actions against pharmacy operators Safeway and SuperValu. The FCA allows private citizens to sue those who have defrauded the US government on the government's behalf. A company found guilty under the law will be fined $2,000 per false claim, as well as triple damages.
📈 t.me/TheEconomyNews
The US Supreme Court has revived two whistleblower lawsuits that accuse companies of defrauding Medicare and Medicaid. The cases relate to alleged violations of the federal False Claims Act (FCA), which is used by the government to fight healthcare fraud. The rulings follow a unanimous decision in June reviving whistleblower actions against pharmacy operators Safeway and SuperValu. The FCA allows private citizens to sue those who have defrauded the US government on the government's behalf. A company found guilty under the law will be fined $2,000 per false claim, as well as triple damages.
📈 t.me/TheEconomyNews
Forwarded from The Economy News
❗US Oil Reserves Hits 40-Year Low
With the Biden administration running down the US Strategic Petroleum Reserve by 44% in just two years, it now stands at its lowest levels in four decades.
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With the Biden administration running down the US Strategic Petroleum Reserve by 44% in just two years, it now stands at its lowest levels in four decades.
📈 t.me/TheEconomyNews