Historical Events tagged with "economy"
Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.
Canada Legalizes Recreational Cannabis Use
Canada legalized the recreational use of cannabis, becoming the second country worldwide to do so. The Cannabis Act, passed by the Parliament of Canada, allowed adults to possess and share small amounts of cannabis. Retail sales began in various provinces and territories, reflecting a significant shift in drug policy aimed at eliminating the black market and promoting safety and health. Education and public health campaigns were launched to ensure responsible use of cannabis among Canadians.
Continue ReadingMilestone of 10 Million United States Patents
The United States Patent and Trademark Office (USPTO) issued the 10 millionth patent on June 19, 2018. This milestone patent, number 10,000,000, was awarded to a device for amplifying sound, invented by Joseph figurative Harmon, a lifetime resident of Washington state. The issuance marked a significant achievement in innovation, showcasing the imaginative ingenuity of inventors across the nation. The event was celebrated with a special ceremony that highlighted the role of patents in fostering creativity and economic growth.
Continue ReadingStart of Anti-Government Protests in Nicaragua
Beginning in mid-April, widespread protests erupted in Nicaragua against President Daniel Ortega's administration, primarily sparked by proposed social security reforms that were seen as detrimental to the population. The protests initially centered on issues related to pension cuts and increased taxes but quickly escalated into broader anti-government sentiments. Citizens from various sectors, including students and workers, joined forces to demand Ortega's resignation. Major cities like Managua witnessed significant mobilizations, resulting in clashes between protesters and police, drawing international attention to the crisis.
Continue ReadingJeff Bezos Becomes World's Richest Person
Jeff Bezos was named the world's richest person by Forbes with a net worth of $112 billion, marking the first time he held this title. This achievement highlighted the meteoric rise of Amazon, the company he founded, which transformed retail and technology. The publication’s annual list of billionaires caused major headlines as Bezos surpassed other tech giants, further solidifying his status as a leading figure in the tech industry. The significant wealth difference also sparked discussions around economic inequality.
Continue ReadingCarillion's Liquidation Marks Major Business Collapse
Carillion, a leading British multinational construction and facilities management services company, went into liquidation after struggling with significant financial issues exacerbated by mounting debts. Once a key player in infrastructure projects, Carillion employed thousands and was involved in numerous high-profile contracts across the UK and abroad. Despite efforts to rescue the company, including seeking new investments, the scale of its problems led to its downfall. The liquidation raised questions about corporate governance and the responsibilities of its executives.
Continue ReadingModi's Demonetization Announcement Shakes India
Indian Prime Minister Narendra Modi announced the demonetization of ₹500 and ₹1000 banknotes, an unprecedented move aimed at curbing black money, counterfeit currency, and corruption. The announcement was made during a nationally televised address, catching many by surprise and prompting immediate discussions about the implications for the economy and the everyday lives of citizens. People rushed to banks and ATMs as they prepared for the transition, leading to long queues and widespread uncertainty about the availability of cash in the days ahead.
Continue ReadingDilma Rousseff Impeached from Brazilian Presidency
Brazil's President Dilma Rousseff was impeached by the Senate after a lengthy political crisis. The Senate voted decisively to remove her from office, concluding an impeachment process that had drawn significant national and international attention. Rousseff faced allegations of fiscal mismanagement, specifically, accused of manipulating the budget to hide the extent of the deficit. The vote followed an exhaustive investigation and political turmoil, marking a significant shift in Brazil's political landscape as Vice President Michel Temer was sworn in to replace her.
Continue ReadingSouth Korea Halts Kaesong Industrial Complex Operations
In response to North Korea's launch of Kwangmyŏngsŏng-4, South Korea decided to cease all operations at the Kaesong joint industrial complex. This complex, situated just inside North Korean territory, had been a symbol of inter-Korean cooperation. The decision was rooted in concerns over security and provocation, reflecting rising tensions on the Korean Peninsula.
Continue ReadingClosure of Kellingley Colliery Ends Deep Mining
Kellingley Colliery, located in North Yorkshire, was the last deep coal mine in Great Britain and officially closed its operations, marking the end of an era for deep mining in the country. The site had been operational since 1965 and was a major employer in the local community. Its closure was part of the wider decline of the coal industry in Britain, attributed to changing energy policies and economic conditions. The last shift worked by miners at Kellingley was met with both sadness and reflection on the industry's storied past.
Continue Reading