World & Politics
China ramps up construction of coal-fired power plants in 2022 - 02/27/2023
Chinese government officials granted approval for 106 GW worth of new coal-fired power station construction projects last year. This is the highest amount since 2015 and more than four times the level from 2021. Global Energy Monitor (GEM) and the Centre for Research on Energy and Clean Air (CREA) released this information today, February 27. Their data shows that the capacity of power plants...
Bloomberg: China urges state companies to reject Big Four auditors - 02/23/2023
Chinese authorities are advising some state-owned businesses to turn to Chinese auditors rather than using Deloitte, KPMG, EY, or PwC. Bloomberg reported this, citing people acquainted with the situation. They note that, due to concerns for national security, China does not want to grant Western businesses access to private information of domestic firms. Bloomberg in particular claims that...
Bloomberg: Iran enriches uranium to 84%, 6% less than needed to build nuclear weapons - 02/20/2023
According to Bloomberg sources, the International Atomic Energy Agency (IAEA) discovered last week that Iran's uranium was enriched to 84 percent. This is 6% less than what is needed for a nuclear bomb. Tehran has already informed outside experts that its centrifuges are capable of 60% uranium enrichment. IAEA inspectors will look into whether Iran knowingly produced uranium that was highly...
Influx of millionaires to the U.S. drops by 80% - 02/17/2023
The United States is no longer the most alluring location for the wealthy. Henley & Partners claims that while the outflow of millionaires has grown, the influx has fallen by 80%. The United States is no longer the most desirable location for wealthy people, Bloomberg quotes a study conducted by London-based consultancy firm Henley & Partners, which specializes in investment immigration....
EU expresses concern about U.S. inflation policy - 02/17/2023
The European Parliament (EP) is worried about many American provisions. The European Commission should work with the authorities to achieve exemptions for European businesses from the discriminatory Inflation Reduction Act, the EP stated in a release. MEPs express worry about measures in the U.S. Inflation Reduction Act that discriminate against EU companies and call for the European Commission...
Global COVID incidence falls by 92% in past four weeks - 02/16/2023
Between 16 January and 12 February 2023, there were 92% fewer new coronavirus cases reported globally. The World Health Organization (WHO) reported that the number of fatal cases decreased by 47% throughout the same time period. Between January 16 and February 12, 2023, there were more than 6.7 million new coronavirus infections reported worldwide, along with 64,000 fatalities, according to the...
Bloomberg: Russia's nuclear exports add 20 per cent in 2022 - 02/16/2023
According to Bloomberg, who cited trade data gathered by UK researchers, Russia's nuclear exports grew by more than 20% year over year. Bloomberg claimed that Russian nuclear exports increased in 2022, citing trade data gathered by the Royal United Services Institute for Defence and Security Studies. The research demonstrates a 20%+ year-over-year growth in the availability of Russian nuclear...
Bloomberg: Manhattan loses $12.4 billion a year due to shift to remote work - 02/15/2023
Business districts are experiencing substantial economic effects as a result of the pandemic expansion of remote work and the hybrid mode, in which workers work partially from home and partially from the office. The New York City borough of Manhattan, which is home to the financial district of the city, large banks, several company headquarters, and more, is losing up to $12.4 billion annually as...
European Commissioner Gentiloni: Risks to EU economy growth are balanced - 02/14/2023
According to European Commissioner for the Economy Paolo Gentiloni, the European Commission (EC) now thinks that the risks in the projection of EU economic growth are largely balanced, whereas it had previously believed that they were downward. "Threats to the future. These dangers currently seem to be largely balanced. You are aware that we always discussed downside risks in the preceding...
Bloomberg: Turkish economy loses $84 billion in earthquakes - 02/13/2023
Turkish economic losses after two February earthquakes totaled $84 billion, or 10% of GDP, according to estimates from the Turkish Confederation of Entrepreneurs and Businessmen. The organization put the cost of the building destruction caused by the earthquake at $70.8 billion. The Turkish budget will also suffer a further loss of $ 10.4 billion. The workforce losses were valued at $2.9 billion...
