Janet Yellen: US to breach its debt limit by December 15
The US may again face the risk of the government default. US Treasury Secretary Janet Yellen called on Congress to raise or freeze the debt ceiling by December 15. She supposes that “there are scenarios in which Treasury would be left with insufficient remaining resources to continue to finance the operations of the US government beyond this date.” Notably, the US faces such a problem quite regularly. In fact, the procedure usually takes place in a particular period of time. However, the Treasury Secretary once again had to remind Congress that it was high time to take a decision. “To ensure the full faith and credit of the United States, it is critical that Congress raise or suspend the debt limit as soon as possible,” Janet Yellen said.
Not so long ago, Congress raised the statutory debt limit by $480 billion. This sum was expected to prevent a default and to allow the government to continue borrowing through early December.
UK economy may lose $50 billion due to Omicron
The outbreak of the new Omicron strain of COVID-19 could result in a $50 billion loss for the UK economy due to unemployment and falling economic activity, The Sunday Times reported.According to a report by the Center for Economics and Business Research (CEBR) cited by The Sunday Times, the UK economy could lose £35 billion or $50 billion due to absenteeism.
15:31 2022-01-18 UTC+00
Europe risks running out of gas in two months
According to Bloomberg, the European Union could run out of natural gas to heat homes in two months due to its shortage and severe frosts.Bloomberg experts believe that a gas crunch stems from slashed domestic LNG production and the lack of additional supplies.
14:29 2022-01-18 UTC+00
BTC to soar to $100,000
Analysts at Goldman Sachs are certain that bitcoin is likely to surge to $100,000 in 2022. "Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted", Goldman Sachs analyst Zach Pandl said in a research note.Currently, the market capitalization of BTC amounts to $700 billion. Therefore, the cryptocurrency has a 20% share of the store of value.
14:26 2022-01-18 UTC+00
Erdogan says Turkey’s economic turmoil is over
President of Turkey Recep Tayyip Erdogan believes the country’s economy is performing better than ever. The rate of lira growth is almost as high as the rate of growth in the wealth of the country's population thanks to the president’s governance.
13:26 2022-01-18 UTC+00
Power of Siberia 2 to impact European gas market
According to Fitch Ratings, Europe may soon face a shortage of natural gas if Russian energy giant Gazprom ramps up its supply to China via the Power of Siberia 2 pipeline. The rating agency believes that Gazprom will continue to deliver gas to Europe under long-term contracts. However, the spot gas sales will be considerably reduced.
12:52 2022-01-18 UTC+00
COVID-19 leaves self-attacking antibodies
Some recent studies on COVID-19 show that the virus leaves antibodies that can attack the body’s own organs and healthy tissues over time. The body’s reactions depend on the gravity of the disease and gender, experts say.The impact of the virus on men and women is different. On the one hand, strong autoantibody responses are usually more common in females after an asymptomatic infection.
05:15 2022-01-18 UTC+00