Crypto crackdown, Doge mania, space tourism and a big divorce | Business and Economy News

There has been no shortage of headline-grabbing business and economic stories this week.

Once again, the pandemic with India’s devastating second wave of COVID-19 infections was high on the global news agenda. But there was also good news: U.S. President Joe Biden’s administration, along with dozens of other nations, backed a plan to forego patent protection for COVID vaccines and improve global shock supplies, especially for less developed countries.

We have rounded up the numbers known this week, including a sobering read about the US labor market recovery. an uplifting (literally) milestone from the private space company SpaceX; a high profile divorce announcement from two of philanthropy’s greatest names; and loads of crypto mania, including a government action that came too late for some Turks.

Before you unplug yourself for the weekend, pour yourself another cup of coffee and scroll down those lengthy readings.

61

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

In what the World Health Organization described as “monumental”, the Biden government announced this week that it would also support the plan.

Al Jazeera’s Virginia Pietromarchi rounds up what you need to know about the fight to protect IP-COVID vaccines – and what the global fight against the virus is all about.

389,000

The number of new COVID-19 infections in India has increased on average every day for the past seven days, bringing the total number of reported cases to 21.4 million.

“The rising numbers have overwhelmed the country’s creaky healthcare system and millions have searched for drugs, oxygen bottles and beds,” writes Al Jazeera’s Megha Bahree.

That void has been stepped by volunteers, including a network of 50 women who “split into subgroups to answer various queries – such as beds, home intensive care facilities, and oxygen – and look for locations for COVID . 19 tests “, often for complete strangers. Read the inspiring stories of Indians who are here to help.

10 percent

The loss in value (actually a little more than 10 percent) of the Turkish lira against the dollar since early 2021 prompted some in Turkey to instead bet on glowing cryptocurrencies like Bitcoin.

But hundreds of Turkish investors instead lost their shirts after two cryptocurrency exchanges in the country collapsed within days, prompting regulators to tighten the noose on the sector.

But for those who have lost their savings, the crackdown comes too late, as Andrew Jaks of Al Jazeera reports here.

One

The number of seats available on Blue Origin’s first commercial flight to suborbital space, scheduled for July 20th.

Jeff Bezos’ space company announced on Wednesday that it was ready to accept paying passengers – and opened online bids for the final seat on its maiden flight.

In order not to be outdone, Elon Musk’s SpaceX launched the fifth test flight of its spaceship on the same day.

The two space-obsessed billionaires made no secret of the fact that they are far from BFFs. You’re even in the middle of a moon feud. Al Jazeera’s Amy Thompson has this story here.

Massive windows on the Blue Origin’s crew capsule give passengers breathtaking views as they float in weightlessness for about 10 minutes before returning to Earth [Credit: Blue Origin]

266,000

The number of jobs the U.S. economy created in April, and a massive disappointment as many Wall Street analysts expected around a million jobs to be created in the last month.

And the sluggish recovery in the labor market does not affect everyone equally. In April, the percentage of women over 20 in the United States who were either employed or actively looking for a job fell from 56.6 percent in the previous months to 56.2 percent.

Women have quit their jobs in droves during the pandemic as they were forced to shoulder the brunt of a greater childcare burden resulting from the closings of distance learning schools and daycare.

That means women, especially working mothers, could lose years of progress in the workplace, which is bad for businesses and the economy too, as diversity and inclusion improve the bottom line.

Will the disruption of the pandemic lead to woker jobs for mothers? Al Jazeera’s Laurin-Whitney Gottbrath examines the debate here.

69 cents

The high price Dogecoin hit this week was part of the meteoric surge in the Shiba Inu cryptocurrency since the start of the year.

A mix of day trader FOMO and high profile shoutouts from Elon Musk, who is hosting Saturday Night Live this weekend, contributed to a spectacular rally.

However, critics say the joke could end in tears for less savvy investors. Shot. Al Jazeeras Ben Piven breaks down everything you need to know about doge mania here.

$ 43.3 billion

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

News that Bill and Melinda Gates are getting divorced after 27 years of marriage sent shock waves through the world of philanthropy this week. The Gates are among the richest people in the world, and their divorce is likely to involve a complicated apportionment of their sizable wealth.

That process appears to have already begun: following the announcement, the company transferred Bill Gates’ $ 1.8 billion shares to Melinda.