By the Numbers for June 28

The economic and financial changes we’re going through are unprecedented, and trying to keep up with it all is an impossible task. This newsletter presents some of the most important, interesting, and unexpected economic and businesses news of the week based on a set of statistics. This list is compiled by some of the economics and business experts at EvolvEd, who offer lessons in subjects from basic economics to stock picking (to much more).

  • 174,000 is the number fake accounts operated by the Chinese government that Twitter took off its platform. Twitter claims these accounts pushed false information about the coronavirus.  
  • 10% is pay cut that senior executives at Quibi, the short-form video startup, are taking. The platform has failed to reach its subscriber goals and lofty aspirations.
  • $17.5 billion is the amount that BP is writing down its assets. The energy giant expects oil prices to remain low.  
  • $5 billion is size of a loan being taken out by United Airlines from three banks. The airline is putting its frequent flier program up as collateral.
  • 5.6% is amount that U.S. household net worth decreased in the first quarter of this fiscal year.

On EvolvEd you can find experts to teach you the fundamentals of business, economics, stocks and many more topics. Go beyond the headlines by truly understanding what is behind the economics that governs our lives.

Milo

Sources:

Twitter: https://www.wsj.com/articles/twitter-takes-down-chinese-government-linked-accounts-it-says-pushed-propaganda-11591909280?mod=tech_lead_pos6

Quibi: https://www.wsj.com/articles/quibi-katzenberg-whitman-streaming-startup-11592157291

BP: https://www.wsj.com/articles/bp-takes-17-5-billion-write-down-expects-oil-price-to-stay-low-11592211169?mod=hp_lead_pos7

UAL:  https://www.wsj.com/articles/united-to-put-up-frequent-flier-program-for-5-billion-loan-11592227825?mod=lead_feature_below_a_pos1

Net worth: https://www.wsj.com/articles/net-worth-of-u-s-households-fell-in-first-quarter-11591891644

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