Australia scraps billion-dollar satellite program

Australia on Friday said it was axing a billion-dollar plan to develop a series of space satellites, as it tries to cut costs amid an economic slowdown and cost-of-living crisis.

How the pandemic is harming the oil and gas industry

In August, Exxon Mobil, once the largest publicly traded company in the world, was dropped from the Dow Jones industrial average after 92 years. Exxon's removal is emblematic of the changing profiles of energy companies. ...

2019 was Europe's hottest year ever: EU

Last year was the hottest in history across Europe as temperature records were shattered by a series of extreme heatwaves, the European Union's satellite monitoring surface said Wednesday.

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Recession

In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

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