Wednesday, March 12

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.

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...
Read More
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...
Read More
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...
Read More
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 ...
Read More
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...
Read More
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...
Read More
Setting Standards For Global Infrastructure Projects
27Oct By Patti MohrNo Comments
Global Economics, Types of News: Brief

Setting Standards For Global Infrastructure Projects

October 26, 2021—The U.S. State Department, along with the governments of Japan, Australia, and the OECD, are developing criteria and standards for evaluating global infrastructure projects. The Blue Dot Network, as it is known, is a voluntary reporting program meant to encourage private-sector financing in infrastructure projects that align with Paris Agreement climate goals. "Think of it as a Good-Housekeeping certificate," said Jose W. Fernandez, a State Department head of the Economic Growth, Energy, and the Environment branch. "It's designed to enable investors to more easily identify and certify investment-worthy projects."  A Globally Recognized Symbol Fernandez said a goal of the certification is to attract financers into worthwhile projects. He spoke with Stuart H...
Read More
U.S. House Passes ‘Huawei Loophole’ And Other Tech-Security Bills
21Oct By Patti MohrNo Comments
Globalization, Global Disintegration, Types of News: Brief, United States

U.S. House Passes ‘Huawei Loophole’ And Other Tech-Security Bills

Crackdown On Chinese-Based Technology Indicates A Turning Point In Industry Collaboration October 21, 2021—The U.S. House of Representatives passed a series of bipartisan bills yesterday intended to protect the U.S. communications industry and consumers from foreign security risks. The Secure Equipment Act would instruct the Federal Communications Commission to "no longer review or approve" radio-frequency devices posing national security risks to the United States. The House passed it with overwhelming support on a 420-4 vote. Rep. Steve Scalise, R-La., introduced the bill along with strong bipartisan support. Only four members -- Reps. Sean Casten, D-Ill., Veronica Escobar, D-Texas, Sylvia Garcia, D-Texas, and Thomas Massie, R-Ky., -- voted against it. It came to be known ...
Read More
Russia Severs Ties With NATO After 25 Years
19Oct By Srinidhi RajagopalNo Comments
Diplomacy, Globalization, Global Disintegration, Types of News: Brief

Russia Severs Ties With NATO After 25 Years

October 19, 2021—In another indication of global disintegration, Russia severed its ties with the 30-member NATO alliance. Russia's Foreign Minister Sergey Lavrov announced the country's withdrawal on Monday. It came in reaction to NATO expelling eight Russian diplomats from Russia's mission to the alliance earlier this month. NATO had accused the representatives of spying on the Western alliance for Russia. The historic decision to end relations with NATO signifies the growing tensions between Russia and the West, and in particular the NATO alliance. Russia had taken part in NATO’s Partnership for Peace program since 1994. While a formal statement addressing the latest developments from the Russian Foreign Ministry is yet to be released, Lavrov said that urgent issues between Rus...
Read More
Venezuela ‘Envoy’ Faces Day In U.S. Court
18Oct By Ernesto RodriguezNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Diplomacy, Types of News: Brief

Venezuela ‘Envoy’ Faces Day In U.S. Court

Alex Saab Faces Charges Of Money Laundering, Bribery Corruption October 18, 2021—After months in prison in Cape Verde, Alex Saab finally crossed the Atlantic on Saturday under extradition orders by the United States. Today, he appeared in federal court in Miami, Florida, where he faces charges of violations of the Foreign Corrupt Practices Act. Specifically, the U.S. Justice Department accuses Saab, a Columbian citizen, of laundering proceeds of an illegal bribery scheme from Venezuela bank accounts to and through U.S. bank accounts. No Ordinary Case It is not an ordinary corruption case. That is because he is a close affiliate of Venezuelan President Nicolás Maduro, an authoritarian leader who controls much of the weak economy. The two are so close, in fact, that the Mad...
Read More

Contact Us