EASYJET ACCEPTS APOLLO’S TAKEOVER OFFER Apollo Global Management has won its battle with Castlelake, another private equity firm, to take over British budget airline easyJet. Apollo will pay £7.15 a share, bringing the price to about £5.7 billion. The airline’s board and founder, also its largest shareholder, have approved the deal. The company has “carefully......
CHINA HAS BECOME “THE FACTORY FOR FACTORIES” Long a key supplier of consumer items, China is becoming a key exporter of the high-value machinery and other capital goods that factories around the world need to make things, such as cars and robotic arms. “In the past, advanced manufacturing was led by Germany and Japan, but......
For years, China was the luxury industry’s growth engine as the country’s blossoming class of knowledge workers showed off their newfound affluence by buying designer clothes, Rolex watches, and Mont Blanc fountain pens.
On 6 August, Donald Trump signed a proclamation imposing new tariffs of 15 percent on imports of solar energy panels and their components, effective 4 December this year.
The manufacturing sector in the 21-member Eurozone turned in its best performance in July since early 2022.
After hostilities in the Persian Gulf cease, gasoline and diesel fuel prices will remain high and will continue to drive inflation higher, even as the price of crude oil falls, Chevron and ExxonMobil have warned.
When the U.S. treasury bought Japanese yen to prop up the yen’s value, the move was made as much out of self-interest as to help an ally’s economy, MarketWatch reported.
As businesses struggle with rising costs, weakening consumer demand, and an increasingly challenging economic environment, many companies announced closures this week.
While Wall Street continues to celebrate market highs, a very different reality is unfolding on Main Street as companies slash payrolls, eliminate departments, and accelerate restructuring efforts with a focus on integrating AI which is taking over human jobs.