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Corona crisis threatens dollar’s dominance

Corona crisis threatens dollar’s dominance

The raging COVID-19 pandemic not only challenges the ability of countries to contain the virus but also tests the international financial system and its dominant currency - the US dollar. As for the United States, it seems that the virus outbreak has only strengthened the “America First” stance supported by Donald Trump. The US is no longer willing to help the rest of the world.
19:01 2020-06-04 UTC+00
Volunteers rescue farm animals amid crisis in US food industry

Volunteers rescue farm animals amid crisis in US food industry

During the COVID-19 pandemic, US farmers encountered a crisis in the food industry. They were caught off-guard being unable to sell large quantities of agricultural produce and livestock amid low demand. To make things worse, this is not the only trouble. They cannot keep the growing number of the poultry and cattle. The pork industry has been hit especially hard.
15:38 2020-06-04 UTC+00
US billionaires cease to invest into greenback due to corona crisis

US billionaires cease to invest into greenback due to corona crisis

The coronavirus has once again proved that the greenback is the most reliable safe-haven asset during financial turmoil. It is no wonder that demand for the US dollar has been growing for the past couple of months. Indeed, the majority of investors are trying to save their money exchanging it for hard currency. The next security level for those who hold their assets in dollars is gold.
14:37 2020-06-04 UTC+00
Huawei Meng Wanzhou to face extradition hearing

Huawei Meng Wanzhou to face extradition hearing

Last year, Chinese tech giant Huawei was accused of stealing sensitive data. However, the repercussions of the scandal are still tangible. Recently, the Supreme Court of British Columbia extended the hearing on the extradition of Huawei's executive Meng Wanzhou to the United States. In the last hearing, judges ruled that Meng is responsible for double criminality.
12:55 2020-06-04 UTC+00
US manufacturing activity shows signs of recovery

US manufacturing activity shows signs of recovery

The negative impact of the coronavirus pandemic has started to gradually fade, experts note. This can be seen in the case of the United States hit hard by the epidemic. In May 2020, the US manufacturing sector showed signs of recovery after dismal readings over the last four months.
08:58 2020-06-04 UTC+00
Oil production sinks to 18-year low

Oil production sinks to 18-year low

Last month of the spring became a turning period for the countries of the oil cartel. According to analysts’ estimates, oil extraction dropped to the 18-year low as Saudi Arabia and other oil-producing countries had fulfilled their commitments to cut output. Experts noticed that the 13 OPEC members had pumped 24.77 million barrels per day last month.
08:49 2020-06-04 UTC+00
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