News from 2023
Sam Bankman-Fried admits "a lot of people got hurt" when FTX collapsed
By Globe Banner | Oct 27, 2023
During a testimony to the jury in his fraud trial, Sam Bankman-Fried, the former boss of the cryptocurrency business FTX, admitted that his company did hurt people and that he made numerous mistakes. Bankman-Fried acknowledged the impact of FTX's collapse, stating, "A lot of people got hurt, customers, employees, and the company ended up in bankruptcy."
Fiji accepts Agreement on Fisheries Subsidies
By Globe Banner | Oct 27, 2023
The World Trade Organization (WTO) has announced that Fiji has accepted the Agreement on Fisheries Subsidies. Fiji submitted its instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala, with Ambassador Luke Daunivalu making the presentation. This brings the total number of WTO members that have formally accepted the Agreement to 52.
Binance CEO: Regulatory compliance is “key” to building trust, bridging crypto and tradfi industries
By Globe Banner | Oct 26, 2023
Changpeng Zhao (CZ), the CEO and founder of Binance, the largest cryptocurrency exchange in the world, emphasized the importance of regulatory compliance in the crypto industry during his speech at the Fintech Forward 2023 conference in Bahrain earlier this month. CZ highlighted that regulatory compliance is a crucial factor in building trust within the industry and can also facilitate partnerships with traditional financial institutions.
The global dating services market to reach an astounding $13 billion by 2028
By Globe Banner | Oct 25, 2023
Research And Markets released a report detailing the exponential growth of the global dating services market during an analysis period of 2023-2028 growing at a Compound Annual Growth Rate (CAGR) of 6.49%. According to the report, the global dating services market is projected to reach an astounding $13 billion by 2028.
The UAW strike comes to an end as Ford makes deal to settle the disagreement
By Globe Banner | Oct 25, 2023
Ford has reached a tentative deal with the United Auto Workers (UAW) union to end the six-week strike, according to a report by BBC. This agreement marks the first settlement of strikes by 45,000 workers against Ford, General Motors (GM), and Chrysler-parent Stellantis.
The Barbie movie saves Mattel from economic challenge
By Globe Banner | Oct 25, 2023
Mattel, the global toy company known for brands such as Barbie and Hot Wheels, has seen a boost in sales thanks to the success of the Barbie movie. The three month period from July through Sept. saw Barbie billings increased by 16% as compared to the same period in 2022.
Garanti BBVA and KAGIDER host summit on women entrepreneurship
By Globe Banner | Oct 25, 2023
BBVA announced that Garanti BBVA and KAGIDER celebrated the Republic of Türkiye's 100th anniversary at the Women Entrepreneurs of the Year Summit. The event featured participation from Garanti BBVA CEO Recep Baştuğ, KAGIDER Chair of the Board Esra Bezircioğlu, and Ümit Boyner from the Boyner Group according to a press release by BBVA.
China allocates $450,000 for WTO accession and least-developed nations
By Globe Banner | Oct 24, 2023
The World Trade Organization (WTO) has announced that China will allocate $450,000 to the WTO's Least-Developed Countries (LDCs) and Accessions Programme, also known as the China Programme. The objective of this initiative is to enhance the integration of LDCs into the global economy by strengthening their involvement in WTO affairs and facilitating the accession of non-member nations, according to a press release by the WTO.
The car workers' strike continues to grow, with costs increasing for GM
By Globe Banner | Oct 24, 2023
General Motors (GM) is feeling the financial strain as the United Auto Workers (UAW) strike continues to grow with no end in sight. The strike, which began in September, has now expanded to include car workers from General Motors, Ford, and Stellantis. This is the first time that the UAW strike has encompassed all three major automakers simultaneously.
The car workers' strike continues to grow, with costs increasing for GM
By Globe Banner | Oct 24, 2023
General Motors (GM) is feeling the financial strain as the United Auto Workers (UAW) strike continues to escalate. The strike, which began in September, is now costing GM approximately $200 million per week, with no end in sight. This comes after GM warned investors that the costs from the strike were unpredictable.
IMF reaches staff-level agreement for Sri Lanka's extended fund facility review
By Globe Banner | Oct 23, 2023
The International Monetary Fund (IMF) has announced that they have reached a staff-level agreement with the Sri Lankan authorities to conclude the first review of the 48-month Extended Fund Facility (EFF)-supported program. This agreement is based on discussions that took place between the IMF staff and Sri Lankan officials, according to a press release by the IMF.
“Dad, I killed 10 Jews. 10! 10! 10! See my WhatsApp. Their blood is on my hands. Let me talk to mom"; Israeli Admiral details horror of massacre body cam videos
By Coach Weinhaus | Oct 23, 2023
TEL AVIV- At a press briefing of more than 200 international journalists Monday, Admiral Daniel Hagari presented 43 minutes of body cam videos from the October 7th massacre.
Estimated to grow an astounding $28.57 billion in the next five years, the probiotics market flourishes
By Globe Banner | Oct 22, 2023
Technavio, a leading global market research company, has released a report highlighting the exponential growth of the probiotics market. The report predicts that the market will grow by an astounding $28.57 billion from 2022 to 2027, with a compound annual growth rate (CAGR) of 7.6%.
The carbon black market predicted to grow 4.86 billion in five years
By Globe Banner | Oct 22, 2023
Technavio, a leading global market research report company, has released a report predicting the rapid growth of the carbon black market. According to the report, the market is expected to grow at a compound annual growth rate of 4.94% in the forecast period of 2022-2027. The carbon black market size is forecast to increase to 4.86 billion in the next five years.
EU-US Summit falls short of business expectations
By Globe Banner | Oct 21, 2023
The European Union and the United States of America recently concluded their second summit in Washington, DC on October 20. BusinessEurope President Fredrik Persson expressed disappointment on behalf of the European business community regarding the outcomes of the summit.Persson highlighted the lack of progress on key issues, stating, "I will not hide the disappointment of the European business community at the news that no permanent solutions have been found on our priority issues – critical minerals and steel and aluminium." He emphasized the importance of reaching...
IMF reaches agreement on first review and 2023 consultation with Bangladesh
By Globe Banner | Oct 20, 2023
The International Monetary Fund (IMF) has announced that The IMF staff and Bangladeshi authorities have achieved a staff-level agreement to finalize the first review of the IMF-supported program. Mr. Rahul Anand, leading a team from the IMF, visited Dhaka to engage in discussions about economic and financial policies according to a press release by the IMF.
The motor control contactors market to grow by over $70 million over the next five years
By Globe Banner | Oct 20, 2023
Technavio, a leading global market research report company, has released a market analysis predicting significant growth for the motor control contactors market. According to a report from Cision's PR Newswire, the market is expected to grow by a CAGR of 4.75% during the forecast period of 2022-2027, resulting in a growth of USD 72.43 million.
Spirulina chocolates market to grow by astounding 10.04% CAGR over coming years
By Globe Banner | Oct 20, 2023
Technavio, a market research firm, has released a report stating that the spirulina chocolates market is expected to experience significant growth in the coming years. According to the report, the market is projected to grow by almost $210 million during the forecast period of 2022-2027.
The online auction market explodes, reaching nearly $7.5 billion this year
By Globe Banner | Oct 20, 2023
Research And Markets released a report detailing the immense growth of the online auction market, showing off an astounding compound Annual Growth Rate (CAGR) of 11.50% during the forecast period of 2022-2027. According to Cision’s PR Newswire, the report predicts that the global online auction market will reach a value of $7.42 billion by 2023.
Macao, China accepts Agreement on Fisheries Subsidies
By Globe Banner | Oct 20, 2023
The World Trade Organization (WTO) announced that China has accepted the Agreement on Fisheries Subsidies. China submitted its instrument of acceptance to WTO Director-General Ngozi Okonjo-Iweala. The Permanent Representative of Macao, China, Ms. Lúcia Abrantes Dos Santos, made the presentation.