The Economic Corner | Why did the Pentagon cancel the Jedi Cloud Computing Contract with Microsoft?

The programme touches upon the latest economic and financial developments across the globe, some of which can have far-reaching effects worldwide. Watch The Economic Corner on Kalkine TV and stay updated.

• The Pentagon has cancelled the $10 billion Jedi cloud computing contract that had been awarded to Microsoft.  

• Chinese regulators have announced an investigation into the ride-hailing app Didi that raised more than $4billion in a New York IPO last week.

• The Cyberspace Administration of China opened an investigation into Full Truck Alliance, another Chinese company that recently got listed in the US. 

• New Zealand's business confidence improved sharply in the second quarter as the COVID-free economy surged. 

•  The Reserve Bank of New Zealand held interest rates in May but hinted at a hike as early as September 2022. 

• The Reserve Bank of Australia has announced it will keep official interest rates on hold at 0.10%.

• At 66.3 in June, up from 64.2 in May, the seasonally adjusted IHS Markit UK Construction PMI Total Activity Index signalled the strongest rate of output growth for exactly 24 years.

• US president Joe Biden is expected to urge more Americans to get vaccinated against Covid-19.

•  India’s state of Maharashtra is reimposing tough Covid-19 restrictions as public anxiety mounts about a potential third wave of infections

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