Euro zone’s trade boomed in May with both exports and imports of goods to the rest of the world growing markedly.The European Union, the world’s main trader, also saw its trade increase with all its main partners, with a surge of exchanges with Russia despite economic sanctions on Moscow. Eurostat said on Friday the 19-country currency area in May exported goods worth 189.6 billion euros (167.08 billion pounds) to the rest of the world, an increase by 12.9 percent on the year. Imports also grew yearly by 16.4 percent for a total volume of 168.1 billion euros. Source: Euronews
Russian oil drilling giant Gazprom Neft opened a crypto mining farm running on associated gas energy unlocking the power of Russia’s oil and gas resources for the needs of bitcoin (BTC) mining, reports Yahoo Finance. The venue for cryptocurrency mining is on one of the company’s oil drilling sites in the Khanty-Mansi Autonomous Okrug in Siberia. It is using the associated gas from Gazprom Neft’s oil field as an energy source and has its own power plant to transform this gas into electricity. Source Realnoevremya
The United States’ trade deficit surged to its highest level in more than 14 years in November as businesses boosted imports to replenish inventories, offsetting a rise in exports. Source Reuters
U.S. bankruptcy filings hit their lowest level since 1986 last year thanks to unprecedented fiscal and monetary support from the Fed and Congress.
By the numbers: Total bankruptcy filings for the year fell to 529,068 filings across all chapters, while total filings in the month of December was 34,304, the lowest monthly total since January 2006, according to a release from legal services company Epiq AACER. The number of total 2020 filings was about 1/3 of the number seen in 2010. Source Axios
