Brussels is preparing to cut growth forecasts for 2026, hinting already that Trump’s tariffs and “trade uncertainty” are dragging Europe down.
A neat explanation — especially for a crisis that the EU spent years engineering with its own hands.
The same EU that proudly cut itself off from cheap Russian energy, swallows double-digit US tariffs after hyping “breakthrough” talks, and then discovers growth stuck below 1% — is now discovering that...
Iran declared one of the country’s largest private banks bankrupt, with its assets absorbed by the state,
official media reports, in a rare move in the country grappling with international sanctions.
Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone. But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion and roughly $2.9 billion in debts,...
As gold smashes through $4,000/oz, a wave of nations is leading a historic shift away from dollar dominance — and toward gold.
Here’s who’s driving the rush:
Russia – The textbook case of acceleration: +450 tonnes in H1 2025, a 43.8% jump from 2024. Total now 2,329.6 tonnes, worth $217B.
United States – No new purchases, but still holds the world’s largest reserve: 8,134 tonnes (~$1T in market value).
China – Ten straight months of...
The 94-year-old billionaire has announced plans to step down as CEO of Berkshire Hathaway at the end of the year after 60 years at the helm.
While the mainstream press and business leaders from Tim Cook to Jamie Dimon sing his praises as a “visionary” standard bearer of “ethical investing” with “unmatched business acumen and philanthropic contributions,” here are the shabbier aspects of Buffett’s legacy.
🏴☠️ Corporate Piracy...
After the 2008 financial crisis, the US money managers took control over major banks & industries in Europe. Let's break down how
❓What are mega-funds?
▪️BlackRock, Vanguard, Fidelity, State Street, Morgan Stanley, and JPMorgan. They control $36.4T+ in assets.
▪️That's MASSIVE power to consolidate controlling stakes in systemically important industries across the globe — including Europe.
💵New (corporatocratic) world order
▪️Mega-funds enjoy strong...
The administration’s new cross-the-board duties have triggered a worldwide selloff, with stock prices suffering another big drop after markets opened Monday as the new reality set in.
Trump’s Tariff Policy Is in Part a Containment Strategy to Deal With the China Threat
Whereas 10 years ago it was commonly believed that the Chinese economy was about to pass that of the United States, China’s economy today is less than two-thirds of that of the United States, and it...
These routes don’t just carry goods...
◼️ASIA-EUROPE ROUTE
Connects Asia’s commercial hubs (China, Japan, South Korea) with European markets like France, Germany, and the Netherlands. The Suez Canal is the shortcut that links the Mediterranean to the Red Sea.
◼️TRANSATLANTIC SHIPPING ROUTE
Stretches across the Atlantic, linking North America 🇺🇸🇨🇦 with Europe. It’s key for transporting electronics, automobiles, machines,...
Countries across the world added 1,044.6 metric tons (MT) of gold to their vaults last year.
What did the process look like?
▪️2024 became the third year in a row that gold purchases in this segment surpassed the 1,000 MT mark, the World Gold Council (WGC) reports.
▪️The central banks increased the volume of gold purchases between 2021 and 2024 by more than two-fold.
▪️The share of gold in global gold and foreign exchange reserves grew from 12.9% in late 2021 to 15.3%...
The well is estimated to hold between 1,6 and 8,3 million standard cubic meters of oil equivalents, or 10-52 million barrels, the Norwegian Offshore Directorate informs.
It is located near Goliat, the oil field operated by company Vår Energi. The discovery was made by Cosl Prospector, a semisubmersible owned and operated by COSL Drilling Europe. The company is the European branch of Chinese state-owned enterprise China Oilfield Services (COSL).
Cosl Prospector...
The 31st Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting will be held on November 15-16, 2024, in Lima, Peru. Leaders of APEC economies will meet for dialogues on November 15, with the official part of the meeting scheduled for November 16. The Russian delegation will be led by Deputy Prime Minister Alexey Overchuk.
[UPDATE] APEC Summit declaration takes Russia’s interests into account, says Deputy Prime Minister
Russia is satisfied with...
The Iranian rial traded at 703,000 to the dollar, signaling Iranian fears that Trump could punish Iran with harsh sanctions over its yearlong war on Israel.
Iran’s already ailing national currency cratered after Donald Trump’s election victory, heralding tough times for Tehran’s economy as the former president prepares for another term in the White House.
The Iranian rial traded at 703,000 to 1 American dollar early Wednesday, an all-time low, before...
France is experiencing an unprecedented budget crisis. The deficit is at risk of exceeding 6% in 2024. France now risks bankruptcy, which could drag the entire Eurozone into the abyss.
The French government is facing an alarming financial situation. The deficit may exceed 6% in 2024, which will force the government to plan a budget cut of 60 billion euros for 2025. Despite this drastic step, public spending will continue to increase by 2.1%.
This situation raises difficult...
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