Economy

The company that was operating a container ship that dramatically ran aground in the Suez Canal in 2021 is awash with cash. Source

An alarming new report has weighed in on a “looming recession” headed our way within months – but what does it all mean for Aussies? Source

The man tasked with stabilising trade relations with China is “very confident” both he and Prime Minister Anthony Albanese will still visit China this year, despite Beijing’s strong criticism of the AUKUS deal. Source

The price of bitcoin has suddenly surged as investors, nervous about the banking crisis, stash their money in crypto. Source

South Africans are nervously awaiting a controversial “national shutdown” on Monday organised by the radical Marxist party, which is accused of threatening violence and “looting” for those who refuse to take part. Source

China’s central bank on Friday announced a cut to the amount of cash banks are required to hold in reserve for the first time this year, in a move designed to shore up an economy weakened by the pandemic. Source

People in Argentina can’t even afford basic groceries as the country’s inflation skyrocketed by more than 100 per cent – its worst record in 30 years. Source

The ASX has dropped sharply in early hours of trading on Tuesday, following the collapse of several banks in the United States. Source

It is hard for Australians to believe, but the US has 4800 banks. That is one bank for every 70,000 people. Source

Prime Minister Anthony Albanese says he expects to sign major clean energy and national security agreements with India when he meets with Narendra Modi on Friday afternoon. Source

Anthony Albanese says he’s honoured by the effort his Indian counterpart has put in to his visit, which has included a ride on a chariot before a huge cricket-loving crowd. Source

What links Russia’s invasion of Ukraine with your soaring grocery bill? Gas. And the fertilisers it produces. Source

Renowned economist Nouriel Roubini, dubbed “Dr Doom”, has warned that the world is facing a looming “stagflationary debt crisis” that will be “the worst of all worlds for workers”. Source

South Africa is on the verge of “collapse” amid rolling blackouts and warnings a total power grid failure could lead to mass rioting on the scale of a “civil war”. Source

Everything’s a “win-win” situation – if Australia “rights its wrongs”. That’s why there’s little evidence China’s trade war with Australia is about to end. Source

Anthony Albanese has talked up Australia’s relationship with India ahead of his upcoming trip to the subcontinent. Source

The trade minister will soon fly to China with his sights set on lobbying Beijing to unwind sanctions on $20bn of Australian exports. Source

Russia has invaded a neighbouring country, seen more than 100,000 of its soldiers die, been shunned by a large chunk of the international community and been exposed to some of the world’s toughest sanctions – and still its economy is doing better than Britain’s. Source

As economic narratives surrounding the reopening of the Chinese economy continue to multiply like rabbits, the growing consensus among analysts appears to be that it will provide a strong boost to the global economy and to Australia in particular. Source

Microsoft on Wednesday said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants. Source