All in Business Current Events

Diamonds Aren't Forever

Diamonds Aren't Forever

Michael Provvisionato
Business Current Events

Diamonds have undoubtedly become the most prominent gemstone in popular culture, with 86% of engagement rings in the United States being diamond. The popularity of diamond-studded jewelry in American hip-hop culture has also exploded, leading to an even further glorification of diamonds as a status symbol. However, demand for diamonds was not always so high and De Beers, which until recently held arguably the strongest monopoly in history, was able to utilize brilliant marketing techniques in order to embed diamonds into everyday life around the globe and set market prices to make incredible profits. Recently, a slew of antitrust laws against the company has diversified the market and growth in the efficiency of lab-made diamonds promises to benefit consumers.

El Salvador: Land of Volcanoes, and… Crypto?

El Salvador: Land of Volcanoes, and… Crypto?

Mauricio Ramirez
Business Current Events

For many, the roots of economic disadvantage among countries are related to not being able to have a currency that is strong in the international markets. In modern times the American dollar is the prime currency used around the world for international trade and even as a store of value for people who distrust their local currencies. Latin America has been at the mercy of the dollar many times throughout modern history. The 80s are known in Latin America as the “Lost decade” or “La decada perdida”. Many Latin American countries suffered a severe crisis due to the first OPEC-Related rise in oil prices in 1973. A second increase in the price of oil in 1979 and the U.S Fed driving up interest rates caused many Latin American countries to end up with large current account deficits and accumulated foreign debt (Frenkel, R., & Rapetti, M). El Salvador seems to be trying to break the circle of dollar dependency by switching to Bitcoin. But it could be just a reaction due to the U.S pulling resources from El Salvador due to the fear from U.S lawmakers of President Bukele going towards an authoritarian path.

No, Movie Theaters Are Not the Next Blockbuster

No, Movie Theaters Are Not the Next Blockbuster

Andy Colando
Business Current Events

Even if you haven’t been paying close attention to the movie theater industry, it should come as no surprise that cinemas have had an extremely challenging time since the start of the coronavirus pandemic. Similarly, to cruise lines and restaurants, operations were brought to a near standstill in March of 2020. Even with restrictions in many states reduced or fully lifted, some consumers, at least for now, have remained wary. Even amid the initial releases of anticipated blockbusters like Marvel’s “Black Widow” and Warner Bros’ “Space Jam”, weekend box office sales in the United States are only slightly surpassing some of the worst weekends for the box office from 2019.

Technology's Impact on Business

Technology's Impact on Business

Peyton Stanley
Business Current Events

As society emerges into a period of scientific acceleration, the business world prevails. The definition of business has evolved from strictly physical commerce to an ambiguous construct. Many companies have taken advantage of this opportunity, especially those coming out of the scientific sector. In a dynamic world of unknown challenges and heightened curiosity, companies like Surfacide are on the frontlines of Corporate America’s newest endeavors.

Remote Work: The New Commonplace?

Remote Work: The New Commonplace?

Jasmine Rawson
Business Current Events

The CDC confirmed the first coronavirus case in the United States on January 21, 2020. Although it was the first of many, no one foresaw the perilous snowstorm to come. Rapidly, more deadly cases popped up around the country and the World Health Organization declared COVID-19 a pandemic on March 11, 2020 (AJMC 2021). It was then that fear began to spread, and businesses worldwide began to close their in-person operations due to health concerns. Thus began months of work from home. Due to health concerns, opportunities for businesses to cut costs, and increases in employee productivity from working remotely, remote work will likely become a more common and frequent occurrence after the pandemic ends.

Interest Rates, Refinancing, and the Threat to Mortgage-Backed Securities

Interest Rates, Refinancing, and the Threat to Mortgage-Backed Securities

Andy Colando
Business Current Events

While not the first viral illness to be labeled a “pandemic,” it goes without saying that the pervasive spread of the COVID-19 coronavirus is an unprecedented event in modern times. Likewise, the fallout of this pandemic, including that of economic significance, is equally substantial, and its full effects are still far from known. 2020 felt the sharpest spike in unemployment, with the national percentage (approximately 14.7% in April and still over 13% in May) comparable only to the Great Depression. This year has also seen one of the most severe and sudden stock market shocks in history, with the NASDAQ falling over 30% from its February peak in March. Despite impressive rebounds in most stocks, the forecast of the real US economy remains bleak, with some analysts expecting a 50% reduction in yearly GDP growth in 2020. Such devastating outlooks have persisted despite the historic $3 trillion stimulus package passed by Congress, as well as the Federal Reserve’s pledge to provide “unlimited” monetary support to the economy. Drastic times certainly do call for drastic measures, but even these great attempts are proving ineffective to shield many Americans from the effects of this economic slowdown.

Can The Cruise Lines Outlast Coronavirus?

Can The Cruise Lines Outlast Coronavirus?

Andy Colando
Business Current Events

As we press on into yet another week of quarantine and social distancing to combat the invisible enemy that is coronavirus (COVID-19), it continues to become more and more apparent that this sudden and startling contraction to our economy may not be followed by the V-Shaped recovery for which many optimists were hoping. Companies from almost every industry are being brought to the brink, some seemingly overnight. Restaurants are closing their doors, air travel has been heavily limited, and the very supply chains that drive logistics for the largest tech companies in the world are, at least for now, grinding to a halt as they seek ways to adapt to this “black swan event”. Fortunately, the $2 trillion stimulus bill passed just over 3 weeks ago, in tandem with aggressive monetary policy from the Federal Reserve, has offered some degree of relief for large and small businesses, as well as individuals alike. However, there is an industry, one with over $100 billion in total estimated economic impact, that has largely been overlooked by these fiscal and monetary policies, while also being positioned as perhaps the most vulnerable of all to coronavirus impacts: The Cruise Industry.

Load More