Business
General Electric reported a smaller quarterly loss Wednesday on lower revenues and a continued slump in aviation, but said it would be cashflow positive in 2021 following cost-cutting moves.
Oct 28, 2020
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With more than 1.3 billion euros ($1.5 billion) in sales last year on its platform and a new acquisition under its belt, second-hand clothes innovator Vinted believes it is starting to scare fashion retailers—for the good ...
Oct 27, 2020
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Energy & Green Tech
The coronavirus crisis has sparked talk that the world might have reached peak oil demand but the OPEC cartel sees crude consumption continuing to grow during the next quarter century, driven in large part by greater use ...
Oct 8, 2020
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Security
Underground markets that sell illegal commodities like drugs, counterfeit currency and fake documentation tend to flourish in times of crisis, and the COVID-19 pandemic is no exception. The online underground economy has ...
Aug 19, 2020
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Business
U.S. tech giant Google is investing in a $10 billion fund to help accelerate India's transition to a digital economy in the next five to seven years.
Jul 13, 2020
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Business
Amazon on Tuesday pledged to invest $2 billion in projects aimed at combatting climate change, stepping up efforts to reduce the carbon footprint of the tech giant and others.
Jun 23, 2020
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Business
Demand for petrol and diesel is set to heal by the end of the year but the coronavirus crisis is likely to leave scars on the airline industry and the oil market, the International Energy Agency said on Tuesday.
Jun 16, 2020
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Business
European budget carrier easyJet and American Airlines both plan to cut large parts of their workforces as the global aviation industry struggles to cope with a near total halt to travel amid the COVID-19 pandemic.
May 28, 2020
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Business
Taiwanese computer chip giant TSMC announced Friday it will spend $12 billion on a state-of-the-art semiconductor foundry in the United States, creating thousands of jobs.
May 15, 2020
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9
Business
Britain's aviation sector grappled Monday with news that international arrivals will soon face a 14-day quarantine to stop new infections of coronavirus, which has already ravaged travel demand worldwide.
May 11, 2020
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An economy (or "the economy") is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Today the range of fields of study exploring, registering and describing the economy or a part of it, include social sciences such as economics, as well as branches of history (economic history) or geography (economic geography). Practical fields directly related to the human activities involving production, distribution, exchange, and consumption of goods and services as a whole, range from engineering to management and business administration to applied science to finance. All kind of professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving and investment are core variable components in the economy and determine market equilibrium. There are three main sectors of economic activity: primary, secondary and tertiary.
The word "economy" can be traced back to the Greek word "one who manages a household", derived from οἴκος, "house", and νέμω, "distribute (especially, manage)". From οἰκονόμος "of a household or family" but also senses such as "thrift", "direction", "administration", "arrangement", and "public revenue of a state". The first recorded sense of the word "economy", found in a work possibly composed in 1440, is "the management of economic affairs", in this case, of a monastery. Economy is later recorded in other senses shared by οἰκονομία in Greek, including "thrift" and "administration". The most frequently used current sense, "the economic system of a country or an area", seems not to have developed until the 19th or 20th century.
This text uses material from Wikipedia, licensed under CC BY-SA
