This week marks the end of the Michigan State University Spring 2023 semester, which also closes another school year in the books for the globalEDGE blog team. globalEDGE Blogs will take a break from its regular schedule throughout the summer months, anticipating returning in September 2023.
globalEDGE Blog
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Cryptocurrencies have been gaining popularity and attention over the past few years, with more and more people investing in them to diversify their portfolios. Some trending names you may have heard of include Ethereum, Bitcoin, and Tether. As the industry expands, so do concerns about illegal activities such as money laundering and terrorism financing. The European Union (EU) parliament recently approved the world’s first comprehensive cryptocurrency regulation to address these concerns. The name of the law is Markets in Crypto-Assets (MiCA). This landmark decision has significant implications for businesses operating in the crypto industry.
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The two leading generals of the third largest country in Africa have clashed over the country’s vast economic and political power. So, what is happening on the global economic stage in the face of this conflict?
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One of the most iconic home brands that has been in business for the last 70 years, Tupperware, is in jeopardy of not being able to “contain” its losses. With operations in over 100 countries and over 10,000 employees, Tupperware has a large international presence, and its products are used by thousands of people every day.
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After last month’s largest banking crisis in the United States at Silicon Valley Bank, the stock market faces repercussions. The bank withheld long-term debt that had declined in market value as the Fed raised interest rates to fight inflation. As a result of this, the bank collapsed. Market watchers said that many investors have appeared more fearful of a potential downturn and are concerned about a possible rescission.
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The 87th edition of the Masters concluded two weeks ago. The Masters is one of four major golf tournaments each year and is known as one of the most prestigious tournaments in golf. The tournament started in 1934 and saw its 23rd international winner this year, with John Rahm from Spain receiving his first green jacket. Rahm is the first Spanish player to win the Masters since Sergio Garcia won in 2017. This Masters win is John Rahm’s second major and first major win since his 2021 win in the US Open. The total winnings purse from the masters was 18 million dollars this year, and with first place, John Rahm took home 3.24 million dollars with his masters win.
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Formula One, also known as F1, is one of the world’s most popular and prestigious motorsport events. The adrenaline-pumping races, cutting-edge technology, and glamorous lifestyle associated with F1 have captivated audiences worldwide for decades. But did you know from the logistics to hosting races to the development of the race cars, Formula 1 is one of the most financially impactful sports.
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globalEDGE is excited to announce that the site's Coface Country Risk Assessment has officially been updated. Our Coface system depicts the risk assessment, business climate, population, and GDP per capita for a given country. Additionally, it also features the different strengths, weaknesses, and the entire risk assessment as a whole on a per country basis. This part of the site is normally updated once a year and is an amazing resource to monitor the economic status of any given country. To learn more about our sites Coface Country Risk Assessment, visit this link!
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Almost every person has grocery shopping as a weekly chore. With the COVID-19 pandemic, there has been a shift in the way consumers shop for their groceries. Companies like Amazon and Instacart were the only options in the past, yet the competition has been changing rapidly with new opportunities entering the market. First, it is a growing industry, with total sales doubling since the start of the pandemic. Consumers in the United States spent USD 1.7 trillion online between March 2020 and February 2022, which is USD 609 billion more than they did in 2018 and 2019. In 2022, the amount of money spent online was expected to hit USD 1 trillion for the first time, according to Adobe, who anticipates that increase to continue this year.
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If you are interested in learning more about global organizations, you should visit globalEDGE’s page about them. You can read about over 60 organizations by clicking here.