Browsing category

Finance

German Economy Shrinks by Record 10.1% in Second Quarter

BERLIN – The German economy shrank by a record 10.1 percent in the second quarter as coronavirus lockdowns took their toll, official data showed Thursday, but experts say a recovery is already underway. Federal statistics agency Destatis called the quarter-on-quarter decline in gross domestic product “historic” and far bigger than any slump seen during the […]

Advertisements

REPORT: US Economy Suffers Record-Breaking 33% Quarterly Decline

WASHINGTON, D.C. – The US economy shrank at a record-breaking 32.9% rate in the second quarter of this year as Americans sheltered at home during the coronavirus pandemic and slashed personal spending, the Commerce Department said Thursday. That figure shatters the previous record for a quarterly decrease in the nation’s gross domestic product, a 10% […]

US Intensifies Pressure, Expands Sanctions on European Contractors of Nord Stream 2

WASHINGTON, D.C. – The United States authorities have intensified pressure on European contractors of construction of the Nord Stream 2 gas pipeline recently, threatening with “far-reaching” consequences if they continue cooperating with the project, the German Die Welt paper wrote on Saturday with reference to sources. The United States authorities have started holding bilateral talks […]

Senate United in Rejection of Pentagon Budget Cuts, $740 bln for ‘Securing Peace and Prosperity’ Around the World

PENTAGON – The US Senate has passed its version of the National Defense Authorization Act, allocating $740.5 billion to the Pentagon. The bill was passed a day after an amendment proposed to cut the Pentagon’s budget by 10 percent and redirect that funding toward significant investments in education, healthcare, and housing in poor communities. This, […]

REPORT: No-Deal Brexit Now ‘Almost Certain’

LONDON/BRUSSELS – The UK government and the EU will fail to sign a post-Brexit trade deal, with only a few days left before Prime Minister Boris Johnson’s July deadline, due to deadlock on a number of key issues, according to a report. Ministers are working on the assumption that there will not be a deal, […]

What Lies Ahead

July 20, 2020 “Information Clearing House” – The US economy at mid-year 2020 is at a critical juncture. What happens in the next three months will likely determine whether the current Great Recession 2.0 continues to follow a W-shape trajectory—or drifts over an economic precipice into an economic depression. With prompt and sufficient fiscal stimulus […]

‘Winning’ the Tech War Against China by Losing

Walking away from its long-term relationship that goes back to those pre-Internet, pre-everything days, the United States government has legislated to list Huawei Technologies Company and ZTE Corporation as “national security threats”. To the surprise of many in telecom circles, the US has also succeeded in pressuring other European countries to go down the same […]

MAJOR: US Expands Sanctions on Both Russian Pipeline Projects

MOSCOW – The US’ decision to remove sanctions exemption for the two pipelines under construction to deliver gas to Europe and Turkey is a textbook example of unfair competition through political means, Moscow announced. The move, which allows the further sanctioning of Russian natural gas projects, has clearly shown the weakness of the American system, […]

WAKING THE DRAGON: US Announces Policy of All-Out Support for China’s Rivals in Territorial Disputes

WASHINGTON, D.C. – The United States announced it will do “everything it can” to support China’s rivals in territorial disputes, setting a one-size-fits-all, openly hostile policy toward Beijing. “We will support countries all across the world who recognize that China has violated their legal territorial claims as well — or maritime claims as well,” US […]