1969-06-01 23:02:17

The Boeing 747 takes flight

Fondly known as the 'Queen of the Skies' the world's first jumbo-jet, the Boeing 747, makes its debut commercial flight from New York to London.

1971-01-01 03:59:16

Bretton Woods system collapses

The breakdown of the Bretton Woods foreign exchange arrangements leads to the free floating of the US dollar against other currencies and introduces substantial and unfamiliar volatility to FX markets.

1972-07-01 07:44:27

The microprocessor comes of age

Intel releases its first microprocessor, the 4004.

1973-01-01 20:25:39

The first oil crisis takes hold

Arab members of the Organization of Petroleum Exporting Countries (OPEC), announce that the price for oil will increase drastically. Major economies go into recession and suffer massive inflationary pressure which leads to a new term: 'stagflation'.

1973-12-01 16:50:54

SWIFT payment network established

The international SWIFT payment network is established, along with the development of domestic payment systems

1974-01-01 03:06:45

Bankhaus Herstatt fails

The failure of BankHaus Herstatt demonstrates that even a relatively small, internationally active bank can pose a substantial financial risk to participants in the FX market.

1974-02-01 03:56:07

US President Richard Nixon resigns

Richard Nixon is the first US President forced to resign following the Watergate Scandal.

1974-03-01 13:26:31

London stock market crash

This crash causes a bear market throughout 1973 and 1974. Affecting all major stock markets in the world, it is considered one of the worst stock market downturns since the Great Depression.

1974-12-01 09:50:11

The first commercial use of barcodes

A ten-pack of Wrigley's Juicy Fruit chewing gum is the first UPC marked item ever to be scanned at a supermarket in Ohio.

1975-01-01 07:49:47

Microsoft and Apple companies created


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