Economic Crisis

FDIC to Consider Bank Size in Applying ‘Special Assessment Fee'

 The U.S. Federal Deposit Insurance Corporation (FDIC) will take the plight of community banks into account when charging financial institutions a “special assessment fee” to cover recent losses incurred over the U.S. banking crisis, the FDIC’s head told lawmakers in a hearing on Wednesday. The special assessment fee, which is required by law, will help […]

EU Backs Retaliation Against Economic Coercion

 The European Union has agreed to allow retaliation against countries that put undue economic pressure on EU members to change their policies, such as the trade restrictions the bloc says China has imposed on Lithuania. Representatives of the European Parliament and the Council, the grouping of EU countries, reached a provisional deal on the anti-coercion […]

Li Qiang Becomes China's Premier, Tasked with Reviving Economy

Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China’s premier, the country’s No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs. Widely perceived to be pragmatic and business-friendly, the 63-year-old Li faces the daunting task […]

Smart Cities Impact: A Business’ Solution to the Economic Crisis?

Smart cities, cognitive cities’ predecessors, as a concept, are not as brand new as you might think. In fact, in 1974, Los Angeles created the first urban big data project, “A Cluster Analysis of Los Angeles,” fast forward to 1994, and Amsterdam hopped on the wagon with a virtual digital city, “De Digital Stad” (DDS), […]

IT Infrastructure Monitoring to Prepare for the Downturn

When a region’s economy contracts over several months or even years, a recession occurs. The region’s gross domestic product (GDP), or the sum of the value of the goods and services it produces, declines during these times. At the same time, sudden changes in the cost of commodities like gas or oil are possible. Industries […]