May 26, 2021
Turks and Caicos Islands ‘BBB+/A-2’ Sovereign Credit Ratings Affirmed
On May 26, 2021, Standard and Poors (S&P) Global Ratings affirmed its 'BBB+' long-term and 'A-2' short-term sovereign credit ratings on Turks & Caicos Islands (TCI). S&P Global Ratings also affirmed its 'AAA' transfer and convertibility…
May 19, 2021
Pipeline boss confirms $4.4m ransom payment
Colonial Pipeline has confirmed it paid a $4.4m (£3.1m) ransom to the cyber-criminal gang responsible for taking the US fuel pipeline offline.Its boss told the Wall Street Journal he authorised the payment on 7 May because of uncertainty over how…
May 17, 2021
Long working hours killing 745,000 people a year
Long working hours are killing hundreds of thousands of people a year, according to the World Health Organization (WHO). The first global study of its kind showed 745,000 people died in 2016 from stroke and heart disease due to long hours.The report…
May 14, 2021
Bitcoin plunges as Elon Musk puts environmental impact under scrutiny
The price of Bitcoin nosedived after Tesla CEO Elon Musk announced his company would no longer be accepting the cryptocurrency as payment due to its ties to fossil fuels in a tweet that sparked a heated debate on the digital currency's environmental…
May 10, 2021
Musk’s SpaceX to launch dogecoin moon mission
Elon Musk has said his rocket company SpaceX will now accept the meme-inspired cryptocurrency dogecoin as payment. In a tweet he said the commercial space exploration firm will launch the "DOGE-1 Mission to the Moon" early next year. It came as…
May 3, 2021
EasyJet and Virgin Atlantic call for re-opening of skies
Most of Europe should be cleared for take-off under the government's planned easing of air travel restrictions, says EasyJet boss Johan Lundgren. His call not to delay the resumption of mass travel was echoed by Virgin Atlantic boss Shai Weiss.He…
April 30, 2021
Eurozone suffers double-dip recession
The eurozone's economy has fallen back into recession as the impact of the pandemic continues to hit activity. Europe's economies have been set back by a renewed surge in infections this year and Covid-related restrictions. The eurozone shrank by…
April 26, 2021
UK sees budget deficit rise to highest rate since 1946
Britain has seen its budget deficit rise during the novel coronavirus pandemic to its highest level since the year after the end of World War II, official figures showed last Friday. The Office for National Statistics said public sector net…
April 20, 2021
Bank of England to consider digital money plan
The Bank of England and the Treasury have announced they are setting up a taskforce to explore the possibility of a central bank digital currency. The aim is to look at the risks and opportunities involved in creating a new kind of digital…
April 19, 2021
World Bank concerned about COVID’s economic impact in Caribbean
World Bank Group President David Malpass said the bank is concerned about the impact the economic crisis caused by the novel coronavirus pandemic will have on developing nations in the Caribbean. “Gross domestic product (GDP) for Latin America…