Economy Archives - Page 38 of 45

CEOs of Multiple Major US Airlines Warn 5G Could Ground Planes

Multiple CEOs from several major U.S. airlines have warned that 5G technology could cause huge disruptions to air travel by grounding planes. On Monday, a group of top airline executives warned that the nation’s commerce will essentially “grind to a halt” and there will be “significant operation disruptions” to air…

FAA Sets New Rules for Some Boeing 787 Landings Near 5G Service

Federal safety officials have released new sets of rules for some Boeing 787 planes landing in areas that have 5G service. The Federal Aviation Administration (FAA) is directing operators of some Boeing planes to adopt extra procedures when landing on wet or snowy runways near impending 5G service. According to…

Insurance Companies Hit With $44 Billion in Losses during Pandemic

Insurance companies across America have been hit with $44 billion in losses during the pandemic. Insured losses and risks of newer variants emerging increased the strain on risk management companies around the world. The hit was revealed in a recent report by international insurance intermediary group Howden. Although enormous losses…

Weekly Unemployment Claims Soar, Indicating Omicron Hit to Jobs Recovery

The number of weekly unemployment claims for American workers has spiked, indicating that the recent Omicron surge has hit the U.S. jobs recovery hard. In the first week of the year, the number of U.S. workers filing weekly jobless claims—a proxy for layoffs—rose by 23,000 from the prior week. The…

Jack Dorsey Announces ‘Bitcoin Legal Defense Fund’

Block founder and former Twitter CEO Jack Dorsey has just announced the launch of a "Bitcoin Legal Defense Fund" that seeks to protect developers from lawsuits. Dorsey revealed that the fund aims to protect embattled Bitcoin developers from legal threats that imperil their ability to develop new projects on the…

Federal Reserve’s New Policies Will See Bitcoin Outpace Stocks in 2022, Report Suggests

Bitcoin will dominate the cryptocurrency market in 2022, with BTC outpacing traditional stocks thanks to the U.S. Federal Reserve's new policies, according to a new report. New analysis by Bloomberg’s Mike McGlone says Bitcoin is going to continue its meteoric rise this year, despite the recent plunge from all-time highs. Bitcoin is expected to…

Bitcoin Outflows over $100 Million for January First Week, Crypto Market over $200M

During the first week of the year, cryptocurrencies suffered a total outflow of value equivalent to $207 million, according to a report by digital assets hedge fund CoinShares. The report indicates a persistent bearish outlook for January. This is the fourth straight week of outflows, now totaling $465 million and…

Novartis Seeks Emergency Use FDA Approval for New Covid Therapy

Swiss pharmaceutical corporation Novartis has announced that positive data from a clinical trial of COVID-19 therapeutic drug ensovibep has prompted the firm to seek emergency use approval from the United States Food and Drug Administration (FDA). The comapny wishes exercise an option to in-licence the antiviral from development partner Molecular…

European Central Bank Policymakers Surprised by Record High Inflation

Policymakers at the European Central Bank (ECB) say they are surprised by Europe's inflation rate soaring to a record high last month. Eurozone inflation hit a new record high of 5 percent in December 2021. The spike raises more questions about the competency of the ECB monetary policy, which claimed…

Moderna CEO Claims 4th COVID-19 Shot Will Be Needed by Fall

Moderna’s Chief Executive Officer Stephane Bancel has claimed that people may need a fourth COVID-19 shot by the fall of 2022. Bancel warned that people will need to get a second "booster" as the efficacy of third shot will likely decline in the next few months. “I still believe we’re…