Cryptographic repression, doge mania, space tourism and a major divorce Business and Economy News

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There has been no shortage of captivating economic and business stories this week.

Once again, the pandemic topped the global news agenda with that of India second devastating wave of COVID-19 infections. But there was also good news: the administration of U.S. President Joe Biden joined dozens of other nations in supporting a plan to relinquish patent protection on COVID vaccines and increase global supply of punctures, especially for less developed countries.

We’ve rounded up the numbers we need to know this week, including a reading on the U.S. job market recovery; an uplifting milestone (literally) from the private space company SpaceX; a well-known divorce announcement of two of the most important names in philanthropy; and a lot of crypto-mania, including regulatory repression that came too late for some Turks.

So before you unplug it from the weekend, pour yourself another cup of coffee and roll out these in-depth readings.

61

The number of countries that have given their support behind a proposal to the World Trade Organization to temporarily relinquish intellectual property protections for COVID-19 vaccines.

In a move described by the World Health Organization as “monumental,” the Biden administration announced this week that it would also support the plan.

Al Jazeera’s Virginia Pietromarchi breaks down what needs to be known about the battle for IP protections against the COVID vaccine – and what’s at stake in the global fight against the virus – right here.

389,000

The number of new COVID-19 infections that India has averaged every day over the last seven days, i.e. the total number of reported cases is 21.4 million.

“The spiraling figures have overwhelmed the country’s crunching healthcare system and left millions of people searching for medicines, oxygen cylinders and beds,” writes Al Jazeera’s Megha Bahree.

Volunteers have entered this gap, including an exclusive network of 50 women who have been “divided into subgroups to meet various requests (such as beds, home intensive care facilities and oxygen) and to look for places for COVID- 19 tests “, often for complete strangers. Read the inspiring stories of Indians intervening to help you here.

10 percent

The fall in the value (just over 10%, actually) of the Turkish lira against the dollar since early 2021, caused some in Turkey to bet on hot cryptocurrencies like Bitcoin.

But hundreds of Turkish investors ended up losing their T-shirts after two currency exchanges in the country collapsed a few days later, prompting regulators to tighten the noose on the sector.

But for those who lost their savings, the crackdown comes too late, according to Andrew Wilks of Al Jazeera here.

One

The number of places available at Blue Origin’s first commercial flight into suborbital space, scheduled for July 20.

Space firm Jeff Bezos announced Wednesday that it was ready to pick up paying passengers and opened its online offerings to get the final seat on its inaugural flight.

Not to be missed, Elon Musk’s SpaceX launched the fifth test flight of its Starship the same day.

The two space-obsessed billionaires have made no secret because they are far from the BFF. They are even in the middle of a lunar feud. Al Jazeera’s Amy Thompson has that story here.

The large capsule windows of the Blue Origin crew are designed to treat passengers with stunning views, as they spend approximately 10 minutes floating in zero gravity before returning to Earth. [Credit: Blue Origin]

266,000

The number of jobs that added the US economy in April and a massive disappointment, since many Wall Street analysts expected about a million jobs to be created last month.

And the slow recovery of the labor market does not affect everyone equally. In April, the proportion of women over the age of 20 in the United States who were paid or actively seeking work fell to 56.2% from 56.6% in previous months.

During the pandemic, women have left work en masse as they have been forced to bear the brunt of a larger daycare burden resulting from remote schooling and the closure of daycare centers.

This means that women, especially working mothers, could lose years of progress in the workplace, which is also bad for businesses and the economy because diversity and inclusion drive results.

So will pandemic disruptions create jobs for mothers? Laurin-Whitney Gottbrath, of Al Jazeera, explores the debate here.

69 cents

The high price of Dogecoin came this week, part of the meteoric rise of the Shiba Inu-themed cryptocurrency since the beginning of the year.

A mix of FOMO daytrader and high-profile screams the size of Elon Musk, hosting Saturday Night Live this weekend, have helped fuel a spectacular rally.

But critics say the prank coin could end in tears for less smart investors. Woof. Ben Piven, from Al Jazeera, breaks down what you need to know about doge mania here.

$ 43.3 billion

The net assets of the Bill and Melinda Gates Foundation in 2019, making it the the largest private philanthropic foundation in the United States and one of the largest in the world.

News that are Bill and Melinda Gates divorce after 27 years of marriage this week has sent shockwaves through the world of philanthropy. The Gates is among the richest people in the world and their divorce is likely to lead to a complicated division of their substantial assets.

It seems that this process has already begun: after the announcement, the company of Bill Gates transferred $ 1.8 billion in equity and Melinda.





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