Bank of America believes that, due to the spread of the new coronavirus COVID-19, 2020 may become the worst year for the world economy since the financial crisis in 2009. Amid the virus outbreak, Bank of America reduced its forecast for global GDP growth for this year to 2.8%. Among the “side effects” of the new disease, experts also called disruptions in the supply of goods and problems in the...

Wealth of the richest man in Europe, owner of Louis Vuitton and Dior, Bernard Arnault fell below $ 100 billion. The luxury sector has become one of the main victims of the coronavirus outbreak. Louis Vuitton and Dior’s owner Bernard Arnault left the list of billionaires with wealth exceeding $ 100 billion, in which he first showed up in June last year. As the Forbes Real-Time rating shows,...

Over the past three years, palladium has risen in price almost four times, turning from a by-product of platinum extraction into the main source of revenue for the largest companies in the industry. This was made possible thanks to a sharp increase in demand for metal as a catalyst in gasoline engines. But, contrary to market laws, the structural deficit of palladium will not disappear in the...

For the first time after the financial crisis, airlines may face a drop in passenger traffic. Lost business revenue due to coronavirus is tentatively estimated at $ 30 billion. In 2020, the airline industry expects a decrease in global passenger traffic by 0.6%, the International Air Transport Association (IATA) reports in its forecast. The organization was forced to change the forecast because...

Prices for British real estate have almost reached a record since the beginning of February. The demand has been growing after the situation with Brexit has been clarified. This month, prices for real estate for sale in the UK approached a record high, Bloomberg writes. This was facilitated by increased market confidence after the country's exit from the European Union, the real estate company...

The growth rate of world trade in the first quarter of 2020 will be weaker than at the end of the past year, despite the conclusion of a trade agreement between the US and China, the World Trade Organization (WTO) indicator Trade Barometer shows. Compared to November last year, its value decreased from 96.6 to 95.5 points (an indicator of less than 100 points indicates a decrease in turnover,...

Last week, value of the most famous digital currency, Bitcoin, stopped above the level of $ 10 thousand. Since the beginning of the year, the rate has grown by more than 40%. This was facilitated by geopolitical tensions in the Middle East, the launch of Bitcoin options, and the spread of the coronavirus epidemic in Chinas. On February 9, the value of the most famous digital currency Bitcoin...

Development of new technologies leads to automation and localization of production, while competition in services markets, on the contrary, becomes more global. This trend will change economic growth strategies for developing countries, the authors of a study published by the National Bureau of Economic Analysis (NBER) believe. The advantage will be given to countries with cheap labor since this...

Scottish whiskey exports jumped to a record high in 2019 amid booming sales in Taiwan and India, offsetting concerns about trade tariffs and uncertainties over Brexit, Reuters reports. Sales of Scotch whiskey overseas grew by more than 4% to 4.9 billion pounds (6.36 billion dollars) in 2019. Exports of Scotch whiskey to Taiwan grew last year by 22%, and to India - by 19.7%. The United States...