Billion

Zimbabwe Loses $1.5 Billion Annually To Gold Smuggling

A report published Tuesday by the International Crisis Group calculates that cash-strapped Zimbabwe is losing at least $1.5 billion a year through the smuggling of gold, mainly to traders in Dubai. The figure is higher than the government’s own estimates of $1.2 billion a year lost through the illicit gold trade, according to Bloomberg. “Estimates…

Airlines On Track To Lose $157 Billion As Global Slump Worsens; IATA Chief Negative On ‘Immunity Passports’

Airlines are on track to lose up to $157 billion between this year and next year, according to the International Air Transport Association (IATA) – a sharp increase over their June projection of $100 billion in losses they made in June for the same period. The new projection includes a $118.5 billion deficit for 2020,…

Struggling Retailers Owe $52 Billion In Overdue Rent Payments

By Tyler Durden The virus pandemic – with its temporary and permanent store closures, strict social distancing requirements, e-commerce boom, and supply chain disruption – since March has fueled uncertainty among US retailers as many find themselves in a $52 billion hole. Bloomberg, citing new data via CoStar Group Inc., outlines how restaurants, gyms, and…

Struggling Retailers Owe $52 Billion In Overdue Rents 

The virus pandemic – with its temporary and permanent store closures, strict social distancing requirements, e-commerce boom, and supply chain disruption – since March has fueled uncertainty among US retailers as many find themselves in a $52 billion hole. Bloomberg, citing new data via CoStar Group Inc., outlines how restaurants, gyms, and other businesses have…

Traders On Edge As China Faces $900 Billion Liquidity Shortage

In all the recent noise surrounding the presidential elections, the pandemic, the state of US fiscal stimulus, and a possible vaccine it is easy to forget that what really matters for the global economy is neither US fiscal or monetary stimulus, nor who the US president is, but rather what China does: after all, recall…

As Millions Face Eviction, Senate Proposes Nearly $700 Billion for Pentagon

By John Vibes As millions face eviction and line up at food banks throughout the country, waiting for another stimulus payment that will seemingly never come, the Senate Appropriations Committee is proposing a $696 billion Pentagon spending bill for the upcoming fiscal year. According to The Hill, The Senate’s version of the fiscal 2021 Pentagon…

Berkshire Repurchases A Record $9 Billion In Stock In Third Quarter

Just a few short years ago, Warren Buffett would not even think of repurchasing Berskhire stock, instead building up a cash war chest which he would deploy to purchase “cheap” companies (although he certainly was a fan of others buying back their stock, such as Apple and – for a while – IBM). However, all…

Bitcoin Nears $16k As Feds “Seize” $1 Billion In Crypto Linked To ‘Silk Road’

Bitcoin continued its post-election surge overnight, getting close to $16,000 for the first time since Jan 2018 as the volume of global negative-yielding debt soars, Source: Bloomberg And while the initial Bitcoin strength mirrored altcoin weakness, that rotation has stalled and now the entire crypto space is rising… Source: Bloomberg And this strength is coming…