CEO of JPMorgan Chase Jamie Dimon believes the U.S. economy systemically rolls over ethnic minority groups and economically disadvantaged people, making it difficult or impossible for them to gain economic footholds and compete fairly. Speaking with CNN Money, Dimon refused to say whether this makes the U.S. institutionally racist, but he revealed that JPMorgan is developing a series of...
By CCN.com: A publication by accounting firm PwC has placed India on track for a 7.6 percent growth in 2019, setting a path for the country to surpass both the U.K. and France in terms of economy. But ask any economist, and they would point towards why the coveted Gross Domestic Product (GDP) - which most people and companies take at face value - figure is an inaccurate tool for assessing data...
The Nasdaq continued the fall from its all-time high on March 12, 2018. The Nasdaq is down nearly 10% since the high on a variety of news. The Nasdaq, which tracks tech stocks has suffered under the weight of massive losses in market capitalization by the likes of Facebook, Amazon, and Twitter. The causes, which we'll analyze below, are two-fold. In typical American fashion, they both revolve...
There were heavy losses in US markets on Thursday after President Trump announced the implementation of significant new tariffs on China as early as next weeks. These tariffs will amount to approximately $50 billion on a yearly basis for Chinese exports. There is widespread fear that China will retaliate and financial market across the world will be plunged into further turmoil. The Dow Jones was...
The president of the European Central Bank (ECB) has issued a statement in which he addresses the impact of digital currencies within the financial economy. In a letter addressed to the members of the European Parliament last week, Mario Draghi mentions the Committee on Economic and Monetary Affairs hearing where he discussed the relevance of financial innovation for the ECB in May. At the time...
The UK-based Hull City Council recently launched what is, perhaps, the first ever local government digital currency. The currency's architects view cryptocurrencies as a unique opportunity to foster social justice. They hope that the project will help ease the pain of welfare cuts in the midst of a global economic slump. When I read this yesterday, I quickly Googled to check if it was an April...
Indonesia is a country of nearly 240 million people. Unfortunately, many of its inhabitants lack access to traditional banking services. In fact, Perbanas, Indonesia's National Banking Association, considers the state of the banking industry "a failure" since more than half of the population has no access to banking. Perbanas chairman Sigit Pramono said, “The access to banking is far lower than...