Markets & Industries
Analysts: Revenue of global video game industry surpasses cinema and sports - 12/24/2020
The COVID-19 coronavirus pandemic has spurred growth in the video games industry, allowing it to generate more revenue than the film and sports industries combined. Revenues in the global video games industry are expected to jump 20 percent year-over-year to $179.7 billion in 2020, according to IDC. At the same time, revenues for the global film industry reached $100bn for the first time in 2019,...
Investors spend $1B in total to buy small Amazon traders - 12/23/2020
According to the Financial Times (FT), seven European and US start-ups have raised a total of $950m since the start of the year to buy small companies trading on Amazon. According to analysts, sales of independent merchants on Amazon will amount to more than $200bn this year, with thousands of such sellers generating more than $1m a year in revenue. This situation is attracting investors...
Iraq lowers oil exports in November - 12/21/2020
Iraqi oil exports declined in November compared to October, while revenues remained almost the same due to higher oil prices, according to data released by the Iraqi Oil Ministry. Oil exports averaged 2,876 million barrels per day in October and 2,613 million barrels per day - in September. "Iraq's oil export volume for November was 81,262,376 barrels," the Ministry of Oil said in a report....
US, EU investment banks to make a record profit on deals with Chinese securities - 12/18/2020
By the end of this year investment banks may receive record commissions for transactions with Chinese securities, writes Financial Times, referring to the data of analytical company Dealogic. According to the company’s calculations, since the beginning of the year such commissions of investment banks not based in China have already grown by 113% compared to last year and reached $ 1.73 billion....
UN declares record drop in Latin America's GDP in 2020 - 12/17/2020
In 2020, GDP in Latin America and the Caribbean will show a record fall of 7.7% in 120 years, with 3.7% growth expected in 2021, says the UN Economic Commission for the region (CEPAL). "GDP in Latin America and the Caribbean is expected to fall by 7.7%, which is the largest decline since studies began in 1900," the commission said in its report. The largest declines are expected in Venezuela...
Global iron ore prices hit seven-year high - 12/15/2020
An unprecedented rise in global iron ore prices was caused by China's construction boom amid strained relations with Australia, which is the country's biggest iron ore supplier, as well as by a reduction in projected supply from Brazil. Chinese steelmakers are asking regulators to investigate for possible speculation. Iron ore prices have reached a seven-year high and continue to rise. The main...
Tesla sales in China hit record - 12/10/2020
The Chinese have been buying cars for the fifth consecutive month, including a particularly strong increase in demand for electric cars from the American Tesla group owned by Elon Musk, Bloomberg reports. Retail sales of passenger cars and SUVs in China increased by 7.8% compared to 2019. In November alone, the country’s residents bought up 2.11 million cars. Wholesale sales of electric cars...
US DJIA hits record low as number of COVID-19 infected grows - 12/08/2020
On Monday, the American Dow Jones Industrial Average index fell back from last week's record level. Investors are concerned that the increase in Covid-19 morbidity in the US could have a negative impact on economic growth during winter. The DJIA fell 148.47 points, or 0.5%, to 3,0069.79 points, the S&P 500 dropped 7.16 points, or 0.2%, to 3,691.96 points, while Nasdaq Composite rose 55.71...
G7 countries note the need to regulate cryptocurrencies - 12/08/2020
G7 noted the need to regulate the use of digital currencies, according to a statement by the finance ministers and central bank governors of the group's countries on the US Treasury website. At the meeting, G7 finance ministers and central bank governors discussed measures and strategies to achieve a sustainable global economic recovery from the crisis caused by the coronavirus pandemic. ...
US is getting ready for massive delisting of Chinese companies from American exchanges - 12/04/2020
The US House of Representatives, unanimously approved the bill. It amends and supplements the Sarbanes-Oxley Act 2002, which in its time increased the financial disclosure requirements for all companies whose shares are traded on US exchanges and are regulated by the Securities and Exchange Commission (SEC). The new law will require issuers to provide comprehensive evidence that they do not...
