Countries all over the world are reporting the sale of fake, or misleadingly labelled, vaccines. Counterfeit COVID vaccines are part of the rapidly increasing worldwide trade in fake medicines that poses a grave threat to health. Blockchain-backed traceability systems could be used to authenticate drugs – paired with secure labels. In the past, forgers have...Read More
China GDP +7.9% y/y in Q2, vs Q1’s +18.3% (Reuters poll +8.1%) June industrial output +8.3% y/y, vs +8.8% in May (poll +7.8%) June retail sales +12.1% y/y, vs +12.4% in May (poll +11.0%) BEIJING, July 15 (Reuters) – China’s economy grew slightly more slowly than expected in the second quarter, weighed down by higher...Read More
U.S. producer prices surged in June Reserve Bank of New Zealand ends bond purchases Bank of Canada tapers bond purchases NEW YORK, July 14 (Reuters) – The dollar pared recent gains on Wednesday after Federal Reserve Chair Jerome Powell told Congress the U.S. economy was “still a ways off” from levels the central bank wanted...Read More
A trio of US banks reported strong profits Wednesday, boosted by the improved credit quality outlook despite headwinds from lower interest rates and tepid trading revenues. Results from Bank of America, Citigroup and Wells Fargo followed similarly positive earnings released Tuesday from Goldman Sachs and JPMorgan Chase, with the bottom line surging in comparison to...Read More
June CPI rises to 2.5% from 2.1% in May Reuters poll had pointed to 2.2% increase Fuel prices up 20% yy, biggest jump since 2010 Bank of England sees CPI exceeding 3% LONDON, July 14 (Reuters) – British inflation jumped further above the Bank of England’s target in June when it hit 2.5%, its highest...Read More
EL SERENO, Calif. — Gov. Gavin Newsom on Tuesday signed a new California state budget that includes some $100 billion in spending and tax relief to help Californians recover from the pandemic. The budget includes $12 billion in tax breaks and rebates that should benefit about three-quarters of the state’s taxpayers, Newsom said. Many of...Read More
Bitcoin has slipped in price at the start of the week, having taken three days to recover from a mini flash crash last Thursday. Bitcoin is trading at just above $33,000 on Tuesday, with many leading cryptocurrencies also seeing a similar price slide. Binance Coin, Ethereum (ether), Ripple (XRP) and dogecoin all fell by between...Read More
U.S. consumer prices likely continued to climb swiftly in June, as the economic recovery gained steam and demand outpaced the supply of labor and materials. Economists surveyed by The Wall Street Journal estimate that the Labor Department will report the consumer-price index increased 5% in June from a year ago, matching May’s increase and continuing...Read More
The announcement last Friday that the International Monetary Fund (IMF) executive board approved an allocation of $650 billion worth of Special Drawing Rights (SDRs) is a “much-needed step in the right direction,” Center for Economic and Policy Research (CEPR) Co-Director Mark Weisbrot said, “but more will be needed, and IMF member countries should aim at ultimately allocating...Read More
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