Economy

Bitcoin soars ahead of blockchain split, Ethereum lower

Reuters. The blockchain supporting bitcoin is poised to undergo a ‘hard fork’ on Tuesday   Investing.com – Bitcoin traded higher on Monday, on reports the blockchain supporting the cryptocurrency is poised to split into two, as some members refused to signal support for a major software upgrade aimed at speeding up transactions on the bitcoin network. On Tuesday August 1, ... Read More »

The Economy Needs Immigrants

President Donald Trump has promised to snap the United States out of its slow growth doldrums by adopting policies to raise the nation’s growth to 3 percent or more. But that worthy goal will be more difficult to achieve if he takes the advice of some of his supporters to sharply curb legal immigration to the United States. America needs ... Read More »

GST has transformed India’s economy: PM Modi in ‘Mann ki Baat’

NEW DELHI: In the 34th edition of his radio programme “Mann ki Baat”, Prime Minister Narendra Modi hailed the Goods and Services Tax (GST) and said the benefits of the landmark tax reform are already visible in the upswing in the country’s economy. “It has been one month since GST was implemented and its benefits can be seen already. GST has transformed ... Read More »

U.S. Economy Grew At 2.6 Percent Rate In 2nd Quarter

Cars on a dealer lot in Pittsburgh. Consumer spending helped drive economic growth in the 2nd quarter to more than double first quarter GDP. Gene J. Puskar/AP The U.S. economy grew at an annual rate of 2.6 percent between April and June. It was nice comeback from the tepid 1.2 percent annual growth rate of the first quarter and more ... Read More »

UK economic growth rate edges slightly higher

A stronger UK film industry helped the service sector to expand, the ONS said. UK economic growth edged slightly higher in the three months to June, as a stronger service sector offset weaker manufacturing and construction. The Office for National Statistics (ONS) said the economy expanded by 0.3% in the quarter, up from 0.2% in the previous three months. But ... Read More »

What’s Behind the Growth of the Gig Economy?

The use of work arrangements other than direct employment has grown substantially in the past decade, but few observers really understand the causes of that growth. The popular perception is that it has been driven by millennials’ use of online intermediaries like Uber and TaskRabbit. But rigorous scholarly research reveals that the gig economy’s growth stems largely from employers’ interest in contract ... Read More »

U.S. economy poised for faster growth? Leading indicators say yes

The U.S. economy might be accelerating, according to the leading economic indicators. A broad measure of how well the U.S. economy is performing surged in June after a strong gain in May, suggesting growth could speed up in the months ahead. The leading economic index jumped 0.6% last month after a revised 0.4% increase in May, the Conference Board said ... Read More »

Australia economy back in the groove as full-time work rebounds

Australia’s labor market strengthened for a fourth month in June led by a remarkable comeback in full-time jobs — an upbeat outcome that could bring nearer the day when the country’s central bank starts considering a rate hike. The data will offer much-needed relief to the Reserve Bank of Australia (RBA) which has been fretting over a “mixed” jobs performance while ... Read More »

Analysts: Economy is gathering momentum

The new measure of economy, using a version of GNI (gross national income) to better reflect the unique Irish conditions, showed the economy last year was worth just over €189bn, almost a third lower than the €275.5bn under the conventional GDP measure used across the world for international comparisons. The smaller size of the economy means the State’s debt ratio ... Read More »

The head of the Federal Reserve believes opioid abuse could be holding back the US economy

Carlos Barria | Reuters Federal Reserve Chair Janet Yellen testifies before a Senate Banking Committee hearing on the ‘Semiannual Monetary Policy Report to the Congress’ on Capitol Hill in Washington, July 13, 2017. Federal Reserve Chair Janet Yellen just weighed in on the opioid crisis in the U.S. In her testimony before the Senate Banking Committee on Thursday, Yellen said rampant opioid abuse ... Read More »