South Korea's car exports fell 20.7 percent year-on-year in September, according to the country's Ministry of Industry, Trade and Energy South Korean manufacturers shipped abroad 151.7 thousand vehicles worth $3.6 billion in September, which is 6.1% less compared to the same period in 2020. The reduction is due to a shortage of semiconductors. Car production fell 33.1% in September and domestic...

The world may face a new financial crisis comparable to the 2008 collapse, the deputy governor of the Bank of England warned. The cause will be the uncontrolled growth of cryptocurrencies, whose market reached $2.3 trillion in just a few years. The world may face a new financial crisis comparable to the collapse of the global economy in 2007-2008, said Deputy Governor of the Bank of England, Jon...

The global community's plans to cut greenhouse gas emissions will not radically reduce demand for fossil fuels, according to the International Energy Agency's (IEA) global outlook to 2050. However, even the agency's most conservative scenario now foresees a drop in overall demand for gas, coal and oil beyond the 2030s for the first time. In the baseline scenario, however, fossil fuel demand will...

Bitcoin's prospects are rather dubious. And even more so: the largest by market value cryptocurrency likely has no future. That's what CNBC reports, citing a comment from Jamie Dimon, CEO of investment bank JPMorgan Chase. Dimon revealed that he personally holds the view that bitcoin is worthless. But his clients don't always follow his philosophy. "Our clients are adults. They don't agree....

The International Monetary Fund has lowered its forecast for global economic growth this year, citing supply problems in rich countries as well as health threats from the spread of the highly contagious delta strain of coronavirus. The IMF also raised its inflation forecast, urging regulators to be prepared to act quickly if the recovery is faster than expected or if inflation risks become more...

World coffee prices have already risen 55% this year due to a poor harvest in Brazil. They are expected to be even higher because Colombian farmers have decided to hold back supplies in order to sell their products at a higher price, Reuters reports. Colombia is the world's second-largest supplier of arabica. According to the agency, producers in that country have not delivered up to 1 million...

The biggest US technology companies - Google, Amazon and Facebook - are buying up office buildings. Investing in new space has become a lucrative way for them to invest record amounts of cash amid low interest rates, experts say. Major US technology companies such as Google, Amazon and Facebook are increasingly acquiring commercial real estate. During the pandemic, IT -companies have joined...

Goldman Sachs has warned clients that Congress is unlikely to resolve the debt ceiling issue before October 18, risking the first default in US history, reports CNN. "It seems unlikely that Congress will tackle the debt ceiling issue until the last minute, and the risk that it won't take necessary action before the October 18 deadline is real," the bank's economists said in a letter to its...

The US could release crude oil from the government's strategic reserves to avoid rising petrol prices, Energy Secretary Jennifer Granholm said. "This is a tool we are currently considering," she was quoted by Finanñial Times. The publication notes that gasoline prices are rising in the US, reaching their highest level in seven years. According to Granholm, a ban on the export of crude oil...