Monday, November 25

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

As Migrants Freeze on EU-Belarus Border, Political Tensions Heat Up
11Nov By Patti MohrNo Comments
Globalization, Global Disintegration, Human rights, Migration, Immigration, Borders, Types of News: Brief, Types of News: Videos

As Migrants Freeze on EU-Belarus Border, Political Tensions Heat Up

Photo Source: Belarus Government November 11, 2021--Political tensions between the European Union and the dictatorship of Belarus are rising, and the lives of thousands of migrants are caught quite literally in the middle. President Alexander Lukashenko, whom many call the last dictator in Europe, has been systematically encouraging migrants into his country only to push them across the border into Europe. Now, as cold weather sets in, thousands of migrants are camped between the Poland and Belarus border, under siege. Belarus encourages visa-free travel through the Minsk airport from Turkey. Migrants are reportedly coming from war-torn countries of Iraq, Syria and Yemen. Yesterday, the Belarus border officials said they met with delegates from the UN High Commissioner for Refuge...
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U.S. Deficit For FY2021 Reached $2.8 Trillion, CBO Says
10Nov By Patti MohrNo Comments
Global Economics, Types of News: Brief, United States

U.S. Deficit For FY2021 Reached $2.8 Trillion, CBO Says

November 10, 2021--For the fiscal year that ended September 30, the U.S. government ran a $2.8 trillion budget deficit, the Congressional Budget Office reported on Monday. The figure was $360 billion less than the deficit in 2020 but three times the deficit from 2019. As a share of the GDP, the 2021 deficit was 12.4 percent the size of the economy. That's down from 15 percent at the peak of the pandemic in FY2020 but up from 3.2 percent in 2016. Federal spending increased above normal levels in 2020 and 2021 in response to the pandemic. They included the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program and Health Care Enhancement Act, the Consolidated Appropriations Act, 2021 (CAA), and the American Rescue Plan Act of 2021 (ARPA). Meanwhi...
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U.S. Inflation Rises To 6.2 Percent
10Nov By Patti MohrNo Comments
Global Economics, Types of News: Brief

U.S. Inflation Rises To 6.2 Percent

November 10, 2021--The Consumer Price Index increased 0.9 percent in October and 6.2 percent for the year, the Bureau of Labor Statistics reported today. While the rise in prices was "broad-based," the cost of energy, shelter, food, and vehicles rose at higher levels, the BLS said. Meanwhile, prices of airline fares and alcoholic beverages declined. Excluding food and energy, inflation still rose 4.6 percent, which was the "largest 12-month increase" since 1991. Over the last 12 months, energy prices increased the highest at a rate of 30 percent with fuel prices climbing by 49 percent. In recent meetings, the central banks for Europe, Britain, and the United States predicted inflation would rise higher this year and into 2022. Yet all three monetary policy boards left interest rat...
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UN Peacekeepers Under Investigation for Trafficking Diamonds And Gold
8Nov By Patti MohrNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Types of News: Brief, UN Security Council

UN Peacekeepers Under Investigation for Trafficking Diamonds And Gold

File photo: UN peacekeepers in the Central African Republic. Source: UN November 8, 2021--Over 300 Portuguese police and military officers are investigating reports that elite Portuguese troops taking part in a UN peacekeeping mission in the Central African Republic may have engaged in the illegal trafficking of diamonds, gold, and drugs. Officers issued 10 arrest warrants and raided properties in Lisbon, Funchal, Bragança, Porto de Mós, Entroncamento, Setúbal, Beja and Faro, The Guardian and other news outlets reported on Monday. “What we are looking into now is the possibility that some soldiers taking part in the national detached force in CAR were used as couriers in the trafficking of diamonds, gold and drugs,” the army said in a statement. According to reporting by The G...
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Bank of England Projects Inflation Rising To 5 Percent Inflation, Leaves Interest Rate At 0.1 Percent
5Nov By Patti MohrNo Comments
Global Economics, Types of News: Brief

Bank of England Projects Inflation Rising To 5 Percent Inflation, Leaves Interest Rate At 0.1 Percent

The committee for the Bank of England met November 4, 2021 and decided to leave interest rates unchanged. November 5, 2021--In a move that surprised many observers in the financial sphere, the Bank of England voted 7-2 yesterday to maintain its federal Bank Rate at 0.1 percent and it voted 6-3 to continue purchasing U.K.-government bonds. That came as a surprise move to many financial observers, including Merryn Somerset Webb is editor-in-chief of MoneyWeek, who had expected a moderate rise in the interest rate to 0.25 percent. Writing an opinion piece for the Financial Times, Webb said the concern is about reputation and expectation. "The Bank has told us for ages that the inflation we feel all around us is transitory," she wrote. "But it is also now telling us that it is “materi...
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Crypto Assets Grew By 200 Percent In 2021
4Nov By Patti MohrNo Comments
Cryptocurrency, Types of News: Brief

Crypto Assets Grew By 200 Percent In 2021

Ethereum Grew Tenfold Over The Last Year November 4, 2021—Cryptocurrency assets grew by roughly 200 percent, from just under $800 billion to $2.3 trillion, according to Jon Cunliffe, Deputy Governor for Financial Stability of the Bank of England. The rapid growth in the takeup of the asset is grabbing the attention of regulators around the world. "When something in the financial system is growing very fast, and growing in largely unregulated space, financial stability authorities have to sit up and take notice," Cunliffe said, in an October speech. He added that regulators shouldn't overreact. "We should not classify new approaches as 'dangerous' simply because they are different." Institutions Are 'Just Getting Started' Meanwhile, as the assets go mainstream, some of the hold...
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Fed Decision ‘Skews Risk Toward Inflation’
3Nov By Patti MohrNo Comments
Finance, Investing, Global Economics, Types of News: Brief, United States

Fed Decision ‘Skews Risk Toward Inflation’

Despite Economic Recovery And Rising Prices, U.S. Central Bank Keeps Interest Rates Near Zero November 3, 2021—The Federal Reserve announced today it will begin reducing the amount of Treasury securities it purchases every month, in light of economic progress. However, in a move that mirrors the European Central Bank decision, the U.S. central bank is maintaining an accommodative stance on monetary policy, meaning it will continue to increase the money supply. Specifically, the committee is keeping the Federal funds rate at 0 to 0.25 percent, which is slightly above Europe's negative rates. A key point is the Fed is no longer basing the decision on the U.S. unemployment rate, which is historically low. The measure of success for the central bank now includes the labor participat...
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Visit Our Advertising Page
1Nov By Patti MohrNo Comments
Types of News: Brief

Visit Our Advertising Page

A Message from the Global Economic Report's Founder, Patti Mohr: Finding the right business path to pursuing journalism and supporting writers is a tricky business. You have to find a path that does not affect the pursuit of truth. One potential route is to display ads from companies and nonprofits via affiliate marketing. But, alas, that is tricky too. First, people who visit your website have to click on those ads while accepting those companies' cookies. And, wait a second, that won't work unless they're using Google Chrome. And next they have to make a purchase. If all goes well -- and that includes all the technical glitches that could go wrong along the way -- then you might earn a small commission. So, there are a lot of "ifs" in all of that. For many website creators and ...
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Inflation Issues ‘Fade Away,’ ECB Says
28Oct By Patti MohrNo Comments
Europe, EU, Eurozone, Global Economics, Types of News: Brief

Inflation Issues ‘Fade Away,’ ECB Says

European Central Bank Keeps Stimulus Policy Despite Rising Prices October 28, 2021--The European Central Bank decided to keep its emergency purchase program in place, even though the economy is recovering and prices are rising. The decision lets the central bank continue its policy of purchasing financial assets and keeps interest rates in negative territory. That is in spite of an inflation rate of 3.4 percent, which is higher than the target of 2 percent. The Euro's short-term interest rate hovers below zero at -0.573 percent. Meanwhile, the 10-year government bond is also in negative territory at -0.16 percent. The EBC dismissed rising inflation, saying, "This is mainly because oil, gas and electricity prices have gone up a lot and demand is rising faster than supply. But we ex...
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COP26 Promises Fall Short Of Climate Needs
28Oct By Guest WriterNo Comments
Climate Action, ESG, Sustainable Finance, Types of News: Brief

COP26 Promises Fall Short Of Climate Needs

Scottish Event Campus where the COP26 takes place Oct. 31-Nov. 12, 2021. By Matthew Lauster Climate Conference Begins In Glasgow On Sunday; More Than 20,000 Expected To Attend October 27, 2021—As world leaders get ready to meet in Glasgow, Scotland starting Sunday for the COP26 Climate Change Conference, new information from a UN agency shows current promises by countries falling well short of what is needed to stave off warming. The latest report, from the UN Environment Programme (UNEP), estimates that global temperatures will rise at least 2.7 degrees C by the end of the century. "The leadership we need is off, and far off," UN Secretary-General António Guterres said on Tuesday. He added that leaders "need to come to Glasgow with bold, time-bound, front-loaded plans to r...
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