The IMF believes that the social gap policy because of Covid-19 will cause US GDP to decrease by 8% and China to grow only 1% in 2020. In the recently released World Economic Outlook Update, the International Monetary Fund (IMF) continues to lower its global growth forecast. This year, global GDP could drop by 4.9% - stronger than the rate in its April report (-3%).
The futures index plummeted by nearly 900 points amid concerns about the revival of coronavirus infection
One district in Beijing is located on a time hill and a capital city is banned from tourism after a series of new cases of coronavirus infection have been reported. European and American stock markets European stocks and major U.S. indices are poised to open on lower Monday amid concerns about the revival of coronaviruses in Asia, especially Beijing and the United States when Electric Lock work. voice drops. According to the IG report. The future above the Dow Jones industrial average fell 778 points, implying a drop of more than 850 points on Monday. The S&P 500 and NASDAQ-100 in the future also point to a second drop for the two indices.
The UK faces historic dual coronavirus, Brexit challenges, although counterbalancing economic strengths remain.
The United Kingdom is still able to avoid having no deal, Brexit - again, by the end of 2020. But with coronavirus-related spending is likely to push the budget deficit to over 10% of GDP. This year, public debt to GDP will exceed 100% and is likely to increase higher in the medium term. brexit concept - double exposure of UK landmarks and flags The range of ratings indicates the heavy impact of Covid-19 and Brexit is testing the resilience of the UK's economy and public finance, despite the United Kingdom (AA / Negative rating according to Pham. vi) retain important and strong financial strengths.
U.S. bank regulator OCC requires public input on the use of cryptocurrencies in the financial sector
One of the federal banking regulators in the United States, and the only person regulating national banks, is seeking public input on how to regulate new technologies and digital banking operations, including Cryptocurrencies and blockchain tools. In an enhanced notice of the ruling proposal, released on Thursday, the Office of the Chief Executive Officer (OCC) said it was reviewing its regulations around digital banking operations. to ensure that these regulations continue to grow with industry growth. The announcement, one of which was announced on Thursday, was signed by currency Acting Comptroller Brian Brooks, a former Coinbase legal director who took office at OCC last week.
CoinDesk expert Nic Carter is a partner at Castle Island Ventures, a venture capital fund based in Cambridge, Mass. Focus on public blockchains. He is also the co-founder of Coin Metrics, a blockchain analysis startup. A dramatic storyline in the COVID-19 saga is the sad story of Neil Ferguson. The English epidemiologist (unrelated to historians, lovely people) emerged in March with his landmark model for Imperial College London, predicting 250,000 deaths in the UK and affecting Lockout policy in the United States and abroad.
For US lawmaker Jonathan Herzog, financial exclusion is not a talking point; it has life experience. At the launch of his parliamentary executive, he said, Herzog went to Bank of America and Citibank and tried to open a campaign checking account, but was rejected. Herzog saw it as an example of how centralized organizations can hold power over everyone, even someone like him who is privileged. That's part of the reason why he throws rocks for open financial systems, not allowed as part of his campaign. There is a lot of urgency to ensure that Bitcoin and cryptocurrencies have mass adoption and there is a regulatory framework that allows their innovation in New York and in the United States, Mitch Herzog said.
US stocks fell slightly because technology stocks were sold out and investors were worried that the unemployment rate would exceed the forecast. Ending yesterday (June 4), the Dow Jones industrial index was almost unchanged compared to the reference, stopping at 26,281 points. Meanwhile, the S&P 500 dropped 0.3% to 3,112 points, the Nasdaq Composite lost 0.7% to 9,615 points. This result ended the chain of 5 consecutive increasing sessions of two indices. Shares of large technology companies have put pressure on the market. Facebook and Netflix lost more than 1.6%, while Amazon, Alphabet and Apple fell nearly 1% compared to the reference.
Analysts fear Chinese security laws and a tough reaction from the US will spark a wave of capital withdrawal from Hong Kong. Hong Kong's economy has been in recession since last year, due to anti-extradition protests. In January of this year, Covid-19 broke out again. Therefore, people are increasingly worried that recent political developments will cause investors, large companies or foreign workers to massively transfer money from one of the world's largest financial centers. China has passed the construction of Hong Kong security laws. US Secretary of State Mike Pompeo earlier said that Hong Kong is no longer considered autonomy, raising the risk of US deprivation of its special trade status. "The Hong Kong International Financial Center is built on the basis of the large number of foreign talents who come here to work," said Kevin Lai, chief economist of Asia at Daiwa Capital Markets. will leave and bring money ".
The two largest economies in the world only confront small moves because a comprehensive financial war will cost them both. As relations between Beijing and Washington continue to deteriorate, there is concern that the United States will start a comprehensive war to limit China's access to US and global financial markets. Despite some initial moves to restrict China's access to the US capital market, analysts still believe a comprehensive financial war is unlikely because it will cost the two countries a loss. equally harmful. Scott Kennedy, China expert at Center for Strategic and International Studies (Washington), argues that the two countries are not on the brink of financial warfare, because of a $ 4,000 billion financial relationship, and photo moves. This relationship influence has just begun to ignite.
South Korean cryptocurrency exchange Binance is currently working with blockchain analytics startup Coinfirm to ensure better anti-money laundering (AML) compliance. The expanded partnership, announced Tuesday, will see Coinfirm's AML solution integrated with Binance Korea services, on Binance Cloud - a platform to launch digital asset exchanges. The platform was opened in April to allow the Binance digital asset trading infrastructure, rebranded with smaller exchanges for their local markets. Coinfirm has one of the most advanced data analytics and data systems on virtual asset wallets related to money laundering crime. We look forward to working with them in implementing the best AML tools and standards, '' Ja Jaewon Baek, Binance Korea 's money laundering report officer, said in a press release.