Tag: economy

The World Economy Is in Trouble

(Bloomberg) — It’s easy to forget now but there was a time early on in the pandemic when the price of gold was in freefall.

It was a curious thing, what with the virus sparking a collapse in the global economy, and it would prove in time to be one of the great head-fakes in the recent history of financial markets. For the pandemic of 2020 would soon show itself to be the driving force behind one of the most ferocious rallies the gold market has ever seen. At the close of trading in New York on Friday, bullion had

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‘There will be damage.’ How new coronavirus shutdowns will hammer Sacramento’s economy

Jay Brown, owner of King of Curls on Freeport Boulevard, has survived in the Sacramento business scene for 50 years by being nimble and finding market niches, starting with hair-styling for Black customers, then adding dreadlocks and hair braiding.

He now faces a new challenge.

Amid a dangerous surge in COVID-19 cases, Gov. Gavin Newsom on Monday ordered the shutdown of a broad swath of businesses in most of California, including hair salons.

Brown’s reaction is to adapt. He had already begun selling imported African-American clothing and he just got a large shipment of distinctive West African face masks to

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