What’s been going on with the US economy?
On August 5th, the S&P 500 posted its worst day since 2022. The Dow Jones Industrial average had dropped 2.6%, the Nasdaq dropped 3.43%, and the S&P 500 dropped 3% These unprecedented numbers had come as...
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Civil unrest in Kenya: What to Know
Throughout the past few months, many massive protests have erupted throughout Kenya because young Kenyans want to take action against the government’s new tax hikes. Many have mobilized to spread this information through social media platforms...
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China’s Slowing Economy and What This Means For Africa
China’s Current Situation In the second quarter of 2024, China’s economy had slowed down to a 4.7% growth, a slightly lower figure than their growth of 5.3% in the first quarter. In fact, China’s economy has...
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Samsung Anticipates Profit Jump by Over 1400%
Samsung Electronics, the flagship subsidiary of South Korean tech giant Samsung Group, expects its profits in the second quarter of this year to jump by almost 1500% compared to the same period last year. This follows...
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Global Spending on Nuclear Weapons Up 13% in Unprecedented Rise
Global spending on nuclear weapons has risen by $10.7 billion from the previous year, according to the International Campaign to Abolish Nuclear Weapons (ICAN). This is an increase of 13% in the US, a sharp swell...
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China Pumps Further $47.5 Billion Into Its Chip Industry
China has announced a $47.5 billion investment to boost its domestic chip industry in a new state-backed initiative aimed at propelling the development and production of advanced semiconductor technologies within China. The ambitious cash injection falls...
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European Central Bank Combats High Inflation
The European Central Bank has lowered interest rates following prior high peaks in an attempt to combat high inflation. Of the 20 countries which all use the euro, inflation has reached over the ECB’s two per...
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Collapsed Crypto Exchange FTX Claims it Can Repay Customers and Creditors in Full
FTX, a once-thriving cryptocurrency exchange owned by Sam Bankman-Fried, has stated that it expects to repay its customers and creditors in full. The announcement comes after the company’s bankruptcy hearing in late January which outlined that...
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Zimbabwe’s ZiG is the World’s Newest Currency
Last Tuesday, Zimbabwe introduced a new currency in the form of banknotes and coins — the ‘Zim Gold’ or ZiG — replacing the “worthless” RTGS dollar. Backed by $575 million worth of hard assets, the Zig...
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‘Crypto King’ Sam Bankman-Fried Sentenced to 25 Years Over FTX Fraud
On Thursday, a Manhattan court sentenced the former ‘Crypto King’ Sam Bankman-Fried to 25 years in prison and ordered him to forfeit $11 billion in assets for his role in the massive crypto fraud at FTX,...
