Sunday, April 18

Economy

Cash rich and bored? Be careful what you do with your money

Cash rich and bored? Be careful what you do with your money

Economy
Back in 2016 I suggested that you consider buying a small stake in the Iranian stock market. I don’t suppose anyone did. It wasn’t exactly easy to get in at the time and my optimism about the economy was pretty misplaced. But if you found a way, you would have bought in with the index on about 50,000. You could then have sold on 8 August with it at 2,000,000. You’d have run into a little bother with the currency, of course. The rial has been in inflation-driven collapse since 2017. But perhaps you were clever enough to hedge that a little. I’m not going to worry about you. I am, however, going to worry about the many inexperienced savers who poured their money into the market a bit too late in the day. Some three million of them have put more than 40 trillion rials (£740m) into stocks this...
Spring break could be a boost to Southwest Florida economy

Spring break could be a boost to Southwest Florida economy

Economy
Spring break could be a boost to Southwest Florida economy Spring break is in full swing across Southwest Florida. The Tourist Development Council is hoping for a big boom in revenue that will help boost the local economy. The beaches were forced to closed last year during the peak of the pandemic. In 2020, much was unknown about the virus and the goal was to keep spring breakers off of the beaches. But, now with more knowledge about the virus people know what they need to do to stay safe. In 2020, March’s bed tax numbers are down by 33% compared to March of 2019. It got worse as the pandemic halted travel and vacations. Bed tax numbers in April of 2020 dropped by 88% compared to April 2019. The bed tax is a 5% tourist tax collected from hotels and short-term rentals. The money is us...
EXPLAINER: 5 key takeaways from the February jobs report

EXPLAINER: 5 key takeaways from the February jobs report

Economy
WASHINGTON -- America's job market delivered a surprising burst of strength in February. It lifted hopes that the rollout of viral vaccines, the distribution of federal aid and the increasing willingness and ability of consumers to go out and spend will invigorate the economy as the weather warms up. Employers added 379,000 jobs, the government said Friday, the most since October and far surpassing economists' predictions. The unemployment rate, which dipped to 6.2%, has now dropped nearly every month since it peaked at 14.8% in April of last year after the pandemic erupted in the United States and inflicted breathtaking job losses. Shut down for much of last year, the economy has been gradually reopening as more people are vaccinated and fewer are being infected. The number of confirmed...
Highlights of the $1.9T COVID bill nearing final passage

Highlights of the $1.9T COVID bill nearing final passage

Economy
In this image from video, Senate Majority Leader Chuck Schumer of N.Y., leads a round of applause for support staff as he speaks before the final vote on the Senate version of the COVID-19 relief bill in the Senate at the U.S. Capitol in Washington, Saturday, March 6, 2021. (Senate Television via AP) In this image from video, Senate Majority Leader Chuck Schumer of N.Y., leads a round of applause for support staff as he speaks before the final vote on the Senate version of the COVID-19 relief bill in the Senate at the U.S. Capitol in Washington, Saturday, March 6, 2021. (Senate Television via AP) WASHINGTON (AP) — The Senate approved a sweeping pandemic relief package over Republican opposition on Saturday, moving President Joe Biden closer to a milestone political victory that would pro...
Why box shipping needs digitalising and downsizing to right-size

Why box shipping needs digitalising and downsizing to right-size

Economy
As Digital Container Shipping Association (DCSA) chief operating officer Henning Schleyerbach told attendees at Riviera’s Container Shipping Leaders webinar, "Covid-19 has been a stress test that has brought out the vulnerability of today’s optimised but inflexible supply chain". Mr Schleyerbach said his experience as a physicist has taught him that putting a system under stress reveals strengths and weaknesses, and that the container shipping sector did not hold up well under the initial stress brought about by widespread lockdowns and a global medical crisis. Pointing to supply chain problems with critical items such as sanitisers and protective masks, he said, "Some goods have piled up and this has resulted in a shortage of equipment and storage space at the terminals, mainly the tran...
Invest in water and provide a buffer against future pandemics

Invest in water and provide a buffer against future pandemics

Economy
This article was first published in MoneyWeek magazine issue no 1000 in May 2020. To make sure you don't miss out in future, and get to read all our articles as soon as they're published, sign up to MoneyWeek here and get your first six issues free. It is hard to see into the future at the best of times, but the coronavirus has made our crystal balls murkier than usual. Lockdowns have throttled large parts of the global economy. Governments are beginning to take their hands off our throats, but there’s no way of knowing whether the casualties will ever get up and walk again, as Edward Chancellor put it in a recent interview with MoneyWeek. Will businesses that have temporarily shut up shop open again and resume business as normal, or will they find their customers and workers gone, their s...
Opinion | Stop. Breathe. We Can’t Keep Working Like This.

Opinion | Stop. Breathe. We Can’t Keep Working Like This.

Economy
[MUSIC PLAYING] ezra klein Well, I’m Ezra Klein. Welcome to “The Ezra Klein Show.” Before we get into it, a bit of housekeeping. We are looking for an associate producer. That job is still open, but not for much longer. If you have two years of audio experience and want to work on the show, go check out the link to the job listing and show notes. But to the show today, I want to begin here with a concept that’s going to be important throughout the episode — the hyperactive hive mind. That’s the idea at the center of Cal Newport’s new book, “A World Without Email.” And it’s the idea he says at the center of how a lot of us are working and living these days. He defines the hyperactive hive mind as a workflow centered on ongoing conversation fueled by unstructured and unscheduled messages d...
Fighting Biden virus aid, GOP rekindles Obama-era strategy

Fighting Biden virus aid, GOP rekindles Obama-era strategy

Economy
Senate Minority Whip John Thune, R-S.D., left, and Sen. Lindsey Graham, R-S.C., pause outside the Senate chamber to talk with reporters during a delay in work on the Democrats' $1.9 trillion COVID-19 relief bill, at the Capitol in Washington, Friday, March 5, 2021. (AP Photo/J. Scott Applewhite) Senate Minority Whip John Thune, R-S.D., left, and Sen. Lindsey Graham, R-S.C., pause outside the Senate chamber to talk with reporters during a delay in work on the Democrats' $1.9 trillion COVID-19 relief bill, at the Capitol in Washington, Friday, March 5, 2021. (AP Photo/J. Scott Applewhite) WASHINGTON (AP) — Republicans have one goal for President Joe Biden’s $1.9 trillion COVID-19 relief package : erode public support for the rescue plan by portraying it as too big, too bloated and too much...
EXPLAINER: 5 key takeaways from the February jobs report

EXPLAINER: 5 key takeaways from the February jobs report

Economy
A restaurant displays a "Now Hiring" sign, Thursday, March 4, 2021, in Methuen, Mass. The American job market delivered a surprising burst of strength in February, raising hopes that the rollout of vaccines will allow the U.S. economy to gain momentum as the weather warms up. (AP Photo/Elise Amendola) A restaurant displays a "Now Hiring" sign, Thursday, March 4, 2021, in Methuen, Mass. The American job market delivered a surprising burst of strength in February, raising hopes that the rollout of vaccines will allow the U.S. economy to gain momentum as the weather warms up. (AP Photo/Elise Amendola) WASHINGTON (AP) — America’s job market delivered a burst of strength in February. It lifted hopes that the rollout of viral vaccines, the distribution of federal aid and the increasing willing...
Spring break could be a boost to Southwest Florida economy

Spring break could be a boost to Southwest Florida economy

Economy
Spring break could be a boost to Southwest Florida economy Spring break is in full swing across Southwest Florida. The Tourist Development Council is hoping for a big boom in revenue that will help boost the local economy. The beaches were forced to closed last year during the peak of the pandemic. In 2020, much was unknown about the virus and the goal was to keep spring breakers off of the beaches. But, now with more knowledge about the virus people know what they need to do to stay safe. In 2020, March’s bed tax numbers are down by 33% compared to March of 2019. It got worse as the pandemic halted travel and vacations. Bed tax numbers in April of 2020 dropped by 88% compared to April 2019. The bed tax is a 5% tourist tax collected from hotels and short-term rentals. The money is us...