‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold
Business & Trade

‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

The Chairperson of the US Federal Reserve has stated that cryptocurrency, if adopted across the globe, would eliminate the requirement of a reserve currency altogether. Before the Senate Banking Committee, on the 11th of July, Jerome Powell analyzed the cryptocurrency system and said that its global prevalence surely would decline the requirement to maintain reserves which […]

Federal appeals court rejects Maryland, D.C. lawsuit over President Donald Trump's business
Business & Trade

Federal appeals court rejects Maryland, D.C. lawsuit over President Donald Trump’s business

On Wednesday, a federal appeals court rejected a court case from the District of Columbia and Maryland that alleged Donald Trump violated the Constitution by benefiting from his business as in the office. The case filed by D.C. Attorney General Karl Racine and Maryland Attorney General Brian Frosh argued that Trump broke the seldom-tested requirements […]

Saudi airline switches to Airbus as Boeing’s Max remains grounded
Business & Trade

Saudi airline switches to Airbus as Boeing’s Max remains grounded

Flyadeal, budget airline of Saudi Arabia will budget airline after canceling its provisional order of $5.9 billion with Boeing for its troubled 737 Max jets. In place of it, the airline has ordered 30 Airbus A320neo planes for worth $5.5 billion marking one of the first carriers to fully change to Boeing’s French opponent because […]

Sen. Richard Blumenthal pushes AT&T and Nexstar to strike a deal, restore channels for DirecTV, U-verse
Business & Trade

Sen. Richard Blumenthal pushes AT&T and Nexstar to strike a deal, restore channels for DirecTV, U-verse

Senator Richard Blumenthal of Connecticut has been urging AT&T as well as Nexstar to restore access to over 120 stations which had been blacked out as of last week, through negotiations. The Nexstar stations in 97 markets in various states across the nation, inclusive of CBS, ABC, NBC, and FOX, were removed for users of […]

Deutsche Bank to cut 18,000 jobs, exit equities sales by 2022
Business & Trade

Deutsche Bank to cut 18,000 jobs, exit equities sales by 2022

Deutsche Bank has announced on Sunday that it will be exiting the enquiries sales and trading business, along with cutting back 18,000 jobs by 2022. This will be part of a strategic transformation and restructuring plan for the company. The company has said that implementation of a cost reduction program is on the cards to […]

On Tariff Anniversary, Soybean Farmers Are Struggling Even as Prices Recover
Business & Trade

On Tariff Anniversary, Soybean Farmers Are Struggling Even as Prices Recover

Soybean prices gained after China imposed tariffs on agricultural products from the United States. Chicago futures are once again above 12-month levels. The prices were low even before the US-China tensions arised. The trade war has cost US producers their biggest customer because of which the industry is struggling to find new buyers to fill […]

Apple is reportedly giving up on its controversial MacBook keyboard
Business & Trade

Apple is reportedly giving up on its controversial MacBook keyboard

Univision confirmed on Thursday that it is “reviewing strategic options” and has hired external consultants after The Wall Street Journal (WSJ) reported that the company was weighing options, including a possible sale. The process has just begun, one person told WSJ, who asked not to be identified because the deliberations are private. The company, which […]

U.S. trade deficit surges to five-month high as imports soar
Business & Trade

U.S. trade deficit surges to five-month high as imports soar

The deficit in the international trade of goods and services of the United States rose by 8.4{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} in May to 55,500 million dollars, the highest figure in five months and with a significant increase in imports from Mexico despite the protectionist efforts of President Donald Trump. In May, exports reached a value of 210,600 million […]

Gold steadies as stocks surge; growth risks, bets on rate cuts lend support
Business & Trade

Gold steadies as stocks surge; growth risks, bets on rate cuts lend support

Gold prices hit a one-week high on Wednesday, boosted by the optimism of safe havens, while hopes for a quicker resolution. Spot gold advanced 0.5{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} reaching $ 1,425.64 an ounce, at 0711 GMT. At the beginning of the session, gold reached $ 1,435.99, a peak since June 25. Futures on gold in the United States […]

Trump says renewed trade talks with China have 'already begun'
Business & Trade

Trump says renewed trade talks with China have ‘already begun’

U.S. President Donald Trump made an announcement on Monday regarding trade talks with China, which were left on halt since a rift between the two nations in May. Trump claims that the talks have “already begun” after he held a meeting with the Chinese President, Xi Jinping at the G-20 summit held over the last […]