Our startup has got the initial acceptance into FasterCapital’s technical cofounder program and is looking forward to raise $300k with the help of Faster Capital, which is half of the funding needed for development and licensing. We are most pleased to work with the wonderful team from
Read more →Argentina Debt Swaps Set to Pay $1.5 Billion After Default The CDS holder of Argentina are set to receive on average 68.5% of the notional amount of the protected bonds as settled on the open market. Deriveum will use similar mechanism for for settlement calculation, but will
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One in four US workers claiming jobless benefits The Covid-19 health crisis is quickly turning into serious economic challenge. Nearly 25% of the US workforce is now idle with incomes and jobs shattered. “Today’s unemployment claims continue their epic ascent on a cumulative weekly basis; not since
Read more →Coronavirus: Pandemic sends US jobless rate to 14.7% The US unemployment rate reached 14.7% according to the US Department of Labor. 20.5 million jobs were lost in the month of April, bringing the total from 3.5% in February. The shock to go from the lowest unemployment number
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Coronavirus: EU facing ‘deep and uneven recession’ Paolo Gentiloni, the Commissioner for the Economy called the upcoming recession “a shock without precedent since the Great Depression”, BBC reports. The EU has foretasted its economy will shrink by over 7.5% in 2020 and recovery could be seen in
Read more →Nearly half of global workforce risk losing livelihoods in pandemic – ILO The International Labor Organization – an offshoot of the United Nation tasked with monitoring global trends in employment and labor mobility – came out with a stark warning. Due to the measures to contain the
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BP profits dive 66% as coronavirus hits oil demand The Covid-19 economic effects continue to have huge economic implications. As BBC reports “Lockdowns around the world have been keeping people inside, slashing demand for oil.” The entire energy sector is experiencing fall of profitability, which is likely
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IMF chief says its forecast that 170 global economies will shrink may be too optimistic The IMF’s projection of global GDP decline by 3% may be too optimistic, Kristalina Georgieva has warned. The coronavirus pandemic is set to leave 170 countries with lower GDP per capita by
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G-7 Backs Debt Help For Poor Nations, Splits on IMF Fillip As Bloomberg reports the G-7 are inching closer to a combined approach to provide assistance to poor nations that are expected to be hard-hit by the economic spill-overs from the COVID-19 pandemic. Initial reports indicate that
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Great Depression Is Closest Parallel to Pandemic, Warns Odey The iconic Hedge Fund manager Crispin Odey has voiced concerns that the 2008-2009 economic crisis is not a suitable comparison to the current turbulence expected to hit the economy in the next few months. He has joined a
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