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Rising trade tensions between the US and China could mean a major retreat for the price of Bitcoin. The two countries are locked in a battle over the origin of the coronavirus with US President Donald Trump last week warned that the signed phase one trade deal signed in January “doesn’t feel the same to…
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The global military spending hit a record high in 2019 with the United States and China emerging as the big spenders. Data investigated by Learnbonds.com shows that by the end of last year, the global military spending stood at $1.92 trillion, a growth of 68.7% from 2001’s $1.14 trillion. The spending has been rising significantly…
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Coronavirus outbreak has had a huge impact on the global travel and tourism industry. To curb the spread of the virus, countries across the globe have imposed lockdown rules, leading to thousands of canceled flights and cruises, closed hotels, museums, theme parks, and restaurants. This pandemic is expected to cause an enormous employment loss in…
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Huawei chairman Guo Ping (pictured) said a US export ban imposed on it will inevitably impact the Chinese telecoms giant, adding they were “arbitrary and pernicious” on Monday. “This decision was arbitrary and pernicious and threatens to undermine the entire industry worldwide,” said Ping at an annual analyst’s summit in Shenzhen, southern China. “This new…
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China is likely to fall far short from the near $200bn worth of goods it has pledged to buy from the US as part of the ‘phase one’ trade deal the two countries agreed, according to a US think tank. Exports from the US to China during 2020 may end up the year at roughly…
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Apple (NASDAQ: AAPL) stock price retreated despite beating iPhone revenue expectations for the second quarter as the coronavirus spread has dampened consumer demand, raising concerns that iPhone sales performance will suffer later this year. While Apple iPhone sales of $29bn in the second quarter slightly exceeded the consensus guidance of $28bn, investors reacted to a…
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Apple (AAPL) flashed early warning signs to Wall Street about how the coronavirus might impact its first-quarter earnings that will be announced on Thursday. The global pandemic of coronavirus has hit companies with exposure to the Chinese market the hardest, bringing much economic activity to a halt and forcing store closures for the brand. Apple,…
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McDonald’s, Subway, and Starbucks are among a small group of firms taking part in a new pilot program for China’s digital yuan, as the world’s second-largest economy attempts to internationalize its currency. People’s Bank of China has been working on digital currency for years in a bid to challenge the US dollar, which dominates the…
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The coronavirus has put American retailers on their knees. In March month, US retail sales fell by 8.7% in March 2020 from the previous month, the biggest fall in sales in the three decades that the US Census Bureau has been recording them. A once thriving sector is now at rock bottom with hundreds of thousands…
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China has lowered its benchmark lending rates for the second time this year. The move comes a few days after it reported a 6.8% fall in its first-quarter gross domestic product (or GDP), the first time its economy shrank at the start of the year for the first time in more than 40 years. China’s…
