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News & Articles By Cassie B.
10/03/2023
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By Cassie B.
Russia has almost fully bypassed Western sanctions on oil exports
Western sanctions against Russian oil exports have proven to be unsuccessful as Moscow continues finding ways to completely bypass them. Revenue from Russian oil sales represents a significant share of the Kremlin’s budget, and Western countries hoped that sanctioning exports would dry up funding for their invasion of Ukraine. The U.S. and the EU have […]
09/14/2023
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By Cassie B.
GREEN MIRAGE: World’s biggest offshore wind farm developer warns industry is in serious trouble
The offshore wind industry is in trouble both at home and abroad as it fails to live up to expectations as a dependable source of “green energy.” The world’s biggest offshore wind farm developer, the Danish energy firm Orsted, has seen its value fall by 31 percent since declaring $2.3 billion of U.S. impairments last […]
08/17/2023
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By Cassie B.
American families are spending $709 a month more than two years ago due to Biden’s inflation
The Biden administration has been doing its best to downplay the inflation that Americans are currently dealing with, but Moody’s Analytics recently put a dollar amount on just how much the country’s economic woes have been costing us. According to the chief economist at Moody’s, Mark Zandi, Americans are now spending more than $700 a […]
08/11/2023
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By Cassie B.
PayPal launches its own USD-backed stablecoin for transfers and payments
PayPal has become the country’s first major financial company to issue its own stablecoin backed by the U.S. dollar. PayPal USD (PYUSD) will be redeemable 1:1 for American dollars, according to the company. This means that one U.S. dollar can be redeemed for one PayPal USD and vice versa. As a stablecoin, it is backed […]
08/11/2023
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By Cassie B.
Americans’ credit card debt reaches a record-setting $1 trillion in the face of inflation and rising expenses
The New York Federal Reserve has reported that aggregate credit card balances climbed during the second quarter of this year and exceeded $1 trillion for the first time on record as Americans are increasingly relying on credit cards to cover their expenses. In the period from April through June, total credit card and indebtedness climbed […]
07/31/2023
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By Cassie B.
Ford loses billions on electric vehicles, reduces its EV production target
Ford has announced that it expects to lose $4.5 billion in its electric vehicles division, “Ford Model e,” this year. This marks a significant rise over its previous loss projection of $3 billion. It has lost $1.8 billion on the vehicles so far this year. It’s just the latest bad news for Ford Model e, […]
07/20/2023
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By Cassie B.
Russia plans to start testing its digital ruble CBDC this summer
Russian lawmakers have approved the development of a digital ruble, and it could begin testing later this summer. While the bill has already passed through Russia’s higher legislative body, it must obtain a signature from President Vladimir Putin before it can go into effect. The Russian central bank reportedly plans to launch a test of […]
07/19/2023
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By Cassie B.
BlackRock’s spot Bitcoin ETF application formally accepted for review by SEC
In a move that many are welcoming as a positive sign for the future of cryptocurrency, the U.S. Securities and Exchange Commission (SEC) has added an application from BlackRock for a spot Bitcoin ETF to its official docket. BlackRock is the biggest asset management firm in the world, and its application, which was filed in […]
06/29/2023
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By Cassie B.
HSBC brings cryptocurrency trading services to its online investment platform in Hong Kong
Hong Kong’s biggest bank, HSBC, is now offering its customers local cryptocurrency trading services, making it the first bank in Hong Kong to offer clients this functionality through its online platform. Crypto investment products have been listed on the Hong Kong Stock Exchange since December and the bank allows its customers to trade all publicly […]
06/27/2023
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By Cassie B.
JPMorgan launches euro-denominated digital payments for its JPM Coin
JPMorgan recently introduced euro-denominated payments for its corporate clients with its JPM Coin blockchain payment system. The system went live with its euro transactions last week, and the first payment in euros on its platform was carried out by the German company Siemens. JPM Coin was originally launched in 2019 for dollar payments with the […]
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