Here is Why China’s Huge Wealth-Gap Problem Could Get Worse
1% of China’s top earners hold a greater share of wealth than the bottom 50% revealing huge wealth gaps, according to Bloomberg. Analysts believe that the pandemic has worsened the…
Trump Vetoes $740 Billion Defense Bill, Breaks with Republican-led Senate
President Donald Trump on Wednesday vetoed a colossal defense bill that authorizes a topline of $740 billion in spending and outlines Pentagon policy, according to CNBC. Trump said the Act…
What Could Rattle Markets in 2021: Here are the Top Investors’ Concerns by FXAudit
Investors rank potential complications with the mass vaccination efforts as the top concern for global financial markets next year. Capital market point to the likelihood of the virus mutating, possible…
Google is Partnering with Aramco to Access Saudi Arabia’s $10 Billion Cloud Market
Google is set for a joint venture with Saudi Arabia’s oil giant Saudi Aramco to open a “cloud region” , CNBC reports. The collaboration taps into the rapidly expanding cloud…
Sales of New Residential Houses Plummets by 11% in November
U.S. sales of new single-family houses in November came at an adjusted annual rate of 841,000, according to the Census Bureau press release. The sales were down 11% from October…
Pfizer and BioNTech to Supply U.S. with 100 Million Additional COVID-19 Vaccine Doses
Pfizer and BioNTech agreed on Wednesday with the U.S. government to supply additional 100 million doses of COVID-19 vaccine, according to the company’s press release. The agreement brings the total…
Daimler Prepares Listing its Trucks Division-Handelsblatt
Business newspaper Handelsblatt reported that German luxury carmaker Daimler prepares to list its trucks division, according to Reuters. The unit will be floated at the end of 2021. Daimler’s trucks…
Walmart Sued By Justice Department over Alleged Role in Opioid Crisis
The U.S. Department of Justice on Tuesday sued Walmart Inc. on allegations that the retailer’s shortcomings led to a rise in the opioid crisis. The Justice Department claimed Walmart’s short-staffed…
France to Reopen Border with U.K. but Travel Restrictions Remain
France agreed to lift suspension of movements into and out of U.K. following closures on a new strain of COVID-19 virus, according to Bloomberg. Still, European Union citizens and residents…
BioNTech Unsure Vaccine Works Against UK Coronavirus Strain. CEO is Optimistic
BioNTech CEO said he does not know at the moment if the current vaccine can protect against the new COVID-19 strain in the U.K. but is optimistic that it does.…
U.S. Senate Passes Giant Package Worth More than $2.3 trillion
U.S. Senate on Monday passed a giant year-end spending bill worth more than $2.4 trillion, the second-largest economic relief measure in history, according to Bloomberg. The spending bill combines $900…
What Moved Markets Today: Monday FXAudit Review
Congressional leaders agreeing to a $900 billion pandemic relief plan, followed by markets reeling from a new strain of coronavirus. Tesla's stock trading lower on addition to the S&P 500…
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