Ant Group is China’s premier FinTech (Financial Technology) company. The company operates China’s largest digital payment platform, the AliPay app, similar to Venmo in the US, or Revolut in Europe, but also offers online loans which they provide in partnership with traditional banks. The app is by far the largest of its kind in the world, servicing 700 million monthly users.

Switzerland is notorious for its banking system, not just for the excellence and accuracy that banks pledge to their customers but also for the anonymity they provide to them. In 1934, The Swiss Banking Law made it a criminal offence for Swiss banks to disclose the name of account holders. The protections and liberties provided by this financial veil has led to many unethical clients seeking refuge with large Swiss banks.

The newly elected American President, Joseph R. Biden, is on the warpath along with much of the Democratic party, to pass the $1.9 trillion Covid-19 relief packages through the US Congress.

The news that Saudi Arabia would cut oil production by 1 million buckets per day (m b/d) from 9.1 million came as a welcome surprise to many, none more so than Russian energy minister Alexander Novak. The shock announcement came at an OPEC+ (Organisation of Petroleum Exporting Countries) convention in early January 2021, and we are only now beginning to see its impact on the future market. 

Depop is a peer-to-peer platform which is unique in that 90% of its user-base is under the age of 26. One economic benefit of software like Depop is that it is a form of accessible self-employment. Add to this the new value system for younger people who view the meaning and purpose of ownership differently to previous generations.

For many businesses, the Coronavirus pandemic has been devastating, and has threatened companies with closure. One such company was GameStop. The gaming store had planned to close over 450 stores this year, yet this week, the company’s stock (GME) has skyrocketed.