Russians boosted precious metal investments during Covid crisis
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The coronavirus pandemic has spurred a record demand for gold, silver and other precious metals in the Russian capital, state lender Sberbank has revealed. Read Full Article at RT.com
Deloitte to pay Malaysia $80mn for its role in pilfering of state fund 1MDB
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Deloitte will pay Malaysia’s government $80 million to resolve all claims related to its auditing of accounts of scandal-linked state fund 1MDB and its unit SRC International from 2011 to 2014. Read Full Article at RT.com
How to hold Big Tech accountable for violating facial recognition privacy law? Boom Bust finds out
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US tech giant Facebook has been ordered to pay $650 million to settle a class action lawsuit in Illinois for violating a landmark state law aimed at protecting people from invasive privacy practice. Read Full Article at RT.com
Washington slaps tariffs on aluminum imports from 18 countries
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The US Commerce Department has introduced duties on common alloy aluminum sheet from 18 nations. The tariffs come as a result of an anti-dumping and anti-subsidy investigation launched under the Trump administration. Read Full Article at RT.com
Russia’s Gazprom aims to double liquefied natural gas exports by 2025
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Russian energy giant Gazprom said it exported 7 million tons of liquefied natural gas (LNG) in 2020, and is planning to double annual sales by 2025, Pavel Sedov, the head of LNG exports at Gazprom Export, said. Read Full Article at RT.com
‘World has never seen this much wealth created in just one year’: China tops US as home to most dollar billionaires
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One in every two newly minted dollar-denominated billionaires last year stemmed from China, according to the latest Hurun Global Rich List. The country had 1,058 billionaires last year compared with 696 in the US. Read Full Article at RT.com
As global carriers rush to order new aircraft RT’s Boom Bust questions quick recovery of travel demand
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Airlines are starting to position their businesses for a recovery with new aircraft orders as more Covid-19 vaccines are distributed globally. Read Full Article at RT.com
The world’s top cryptocurrency, bitcoin, continued to rally on Tuesday, pushing above $49,000 during early trading. The rally comes as the Chinese government plans to ban crypto mining in the country. Read Full Article at RT.com
Bitcoin soars after Citi says it could become ‘currency of choice’ for global trade
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The world’s largest cryptocurrency, bitcoin, bounced back above $48,000 on Monday, following a report by Citi which suggested that the digital asset could one day become the preferred currency for international trade. Read Full Article at RT.com
Chinese investment in Australia plunges to RECORD LOW amid escalating trade row
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New data from the Australian National University (ANU) showed Chinese investment in Australia dropped by more than 61 percent in 2020, to just over a billion Australian dollars (US$780 million) – the lowest in the past six years. Read Full Article at RT.com
Vaccine passports to bolster British economy and combat impacts of Covid-19 crisis – finance minister
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The idea of giving people certificates confirming their vaccination may help the British economy recover from an unprecedented crash due to the coronavirus outbreak, according to the country’s finance minister, Rishi Sunak. Read Full Article at RT.com
China’s economy could double in size by 2035, eclipsing US along the way – Bank of America
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In terms of post-Covid recovery, China is one of the fastest growing economies in the world and has a good chance to double its GDP by 2035, according to Helen Qiao, head of Asia economics at Bank of America Global Research. Read Full Article at RT.com
Gold price could drop to $1,200 per ounce by 2023, warns Fitch
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International ratings agency Fitch predicts the price of gold will fall to $1,600 per ounce this year and slide further down to $1,400 in 2022 “on increased demand due to investment flows and central bank purchases.” Read Full Article at RT.com
Natural gas production plunged 45% during the Texas freeze
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Natural gas production in Texas collapsed by 45 percent during the cold snap last week, primarily due to freeze-offs, the Energy Information Administration (EIA) said on Thursday, citing estimates from IHS Markit. Read Full Article at RT.com
Short-sellers lose another $2 BILLION on GameStop as independent traders take on Wall Street again
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Those betting on GameStop stock’s price decline, or short-sellers, lost around $1.9 billion in just two days as the Reddit crowd’s favorite “meme stock” renewed its enormous rally. Read Full Article at RT.com
Covid-19 pandemic pushed French economy into worst recession since World War II – report
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Coronavirus-related economic and social restrictions led to a “historic” drop of 8.2 percent in French GDP in 2020, data by the National Institute of Statistics and Economic Studies (INSEE) shows. Read Full Article at RT.com
Bye-bye bitcoin rally? Cryptocurrency slumps by 20 percent in worst week in almost a year
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The world’s most prominent cryptocurrency is heading for its biggest one-week fall in nearly a year after an explosive rally that saw its price hitting new historic highs. Read Full Article at RT.com
Russia inks long-term deal to supply China with liquefied natural gas from Arctic
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Russia’s largest independent gas producer, Novatek, has signed a long-term contract with a Chinese partner as it aims to expand its presence in the fast-growing Asian-Pacific region. Read Full Article at RT.com
Max Keiser: What if bitcoin is not the bubble, but the pin?
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Keiser Report looks at the Washington Post editorial on whether Fed chairman Jerome Powell and Treasury Secretary Janet Yellen will do something about bitcoin revealing the flaw of money printing. Read Full Article at RT.com
British pound extends relentless rally to multiyear highs amid hopes of economic recovery
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Sterling has extended gains against both the US dollar and the euro this week amid news of the UK’s vaccination progress and hopes of economic reopening after strict pandemic lockdowns. Read Full Article at RT.com
Square doubles down on crypto, buying $170mn more in bitcoin
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Jack Dorsey’s financial services company Square extended its crypto holdings by $170 million as part of an ongoing commitment to the cryptocurrency, the firm announced. Read Full Article at RT.com
India is on course to become the world’s largest energy consumer, and Prime Minister Modi is now making natural gas the centerpiece of the nation’s energy plans. Read Full Article at RT.com
Will latest drop stop bitcoin’s fevered rally? RT’s Boom Bust finds out
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After nearly doubling in value this year alone, bitcoin took a hit this week, falling around 10 percent to under $50,000 over the last 24 hours. Read Full Article at RT.com
Bitcoin’s HUGE daily drop sends cryptocurrency market crashing
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The world’s highest-valued digital currency, bitcoin, has seen its biggest drop ever, plummeting below $47,000 per coin from the weekend record of over $58,000 in a span of just 19 hours. Read Full Article at RT.com
Global oil prices top 13-month high on slow restart of US output
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Crude oil futures secured further gains on Tuesday, with both global benchmark Brent and US West Texas Intermediate (WTI) climbing to the highest levels since January 2020. Read Full Article at RT.com
Republicans sound alarm over major U-turn by Biden admin on Russia-to-Europe gas pipeline
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Republican senators in the US have fired a barrage of criticism over a new State Department report that faied to include new entities as targets for sanctions over their participation in the Nord Stream 2 gas pipeline project. Read Full Article at RT.com
Russian e-commerce market posts explosive growth during Covid pandemic
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Online shopping was booming in Russia last year, with trade volumes increasing by nearly 60 percent compared to 2019, according to a business group representing major online retailers operating in the country. Read Full Article at RT.com
Boeing backs decision to suspend 777s with P&W4000 engines by US and Japan, recommends airlines follow suit
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Boeing has urged global carriers to temporarily halt flights of its planes with engines similar to that which suffered a catastrophic failure and exploded mid-flight over the US city of Denver at the weekend. Read Full Article at RT.com
Russia-Germany trade turnover falls to lowest level in 16 years
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The volume of trade between Russia and Germany declined by 22.2 percent in 2020, year-on-year, to €44.9 billion ($54.4 billion), according to data from the German Committee on Eastern European Economic Relations. Read Full Article at RT.com
Meteoric growth: Bitcoin keeps beating its own best, shooting past $57,000
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The price of the world’s most valued digital asset has surged past $57,000, breaking the previously set record in less than 12 hours. Bitcoin has demonstrated a nearly nine-percent day-by-day increase, according to CoinDesk. Read Full Article at RT.com
Russia’s Rostech teams up with UAE strategic developer to produce new light helicopters
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The Russian government commission that examines foreign investments has approved a deal reached between VR-Technologies (VRT), a subsidiary of Russian Helicopters, and the Abu Dhabi-based Tawazun Strategic Development Fund. Read Full Article at RT.com
Iran plans petrochemical BOOM despite US sanctions
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Iran’s petchems sector now accounts for over 30 percent of all its non-oil exports and Tehran is planning to boost this further through the build-out of a number of dedicated hubs. Read Full Article at RT.com
Forget GameStop! The entire US fixed income market’s about to blow due to insolvency & inflation, strategist tells Boom Bust
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The Reddit-fueled GameStop stock saga is taking center stage in Washington. The key players are testifying in front of the US Congress on how one little stock play by independent investors almost took down Wall Street. Read Full Article at RT.com
China plans to dominate this century through semiconductor chips, which are ‘THE NEW OIL’ – entrepreneur to Keiser Report
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Max Keiser talks to Dan Collins, a businessman and entrepreneur who lived in China for 20 years, about the reasons behind the global chip shortage and why the US business model has left the country vulnerable. Read Full Article at RT.com
Russia to present new concept of national digital currency – Central Bank
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After discussing the launch of the digital ruble with local banks, the country’s financial watchdog says it will present a more detailed concept for the national digital currency by summer. Read Full Article at RT.com
Hong Kong stock market turnover more than quadruples that of London’s exchange – media
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Stock trading volumes on the Hong Kong Stock Exchange have seen enormous growth this year. They are now four times greater than the daily turnover on the London Stock Exchange. Read Full Article at RT.com
Jeff Bezos overtakes Elon Musk to reclaim world’s richest person title
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Amazon CEO Jeff Bezos has reclaimed the top spot on the world’s richest list, winning the title back from Tesla CEO and SpaceX founder Elon Musk just weeks after losing it. Read Full Article at RT.com
Bitcoin at $50k is the BIGGEST BUBBLE of them all, says gold bug Peter Schiff
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As the world’s largest cryptocurrency, bitcoin, hit another price milestone on Tuesday, gold enthusiast and crypto-skeptic Peter Schiff continued to insist there is no value in the digital token. Read Full Article at RT.com
China may exercise ‘nuclear option’ against US defense industry with rare-earths export ban – reports
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The world’s largest rare-earth miner, China, is reportedly trying to calculate the damage to US defense contractors if it moves to curb supplies of the minerals vital for the country’s weapons industry. Read Full Article at RT.com
Visa considers adding cryptocurrencies to its payment network
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International payment system Visa is moving towards allowing its cardholders to buy and sell cryptocurrencies in countries where it does not contradict the local legislation, the company’s press service told RIA Novosti. Read Full Article at RT.com
