3G Capital, a low-key private equity firm best known for helping Warren Buffet merge food giants Kraft and Heinz, is taking shoe company Skechers private for $9.4 billion in cash.
Category: 13 May 2025
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SPOTLIGHT: DEATH OF THE DOLLAR
Asset managers are converting more of their dollar-based assets into investments in Europe, the Financial Times reported.
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CHINA TECH GIANT IS BUILDING END-TO-END SUPPLY CHAIN FOR ADVANCED CHIPS
Huawei, China’s leading maker of computer chips, and two of its affiliated companies are nearing completion of three factories in Huawei’s home city of Shenzhen that will further break the country’s dependence on foreign technologies, the Financial Times was first to report.
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TRUMP’S REELECTION WIN KICKED OFF AN UNPRECEDENTED LEVEL OF ‘MONEY-GRUBBING’
U.S. President Donald Trump’s election win in November kicked off an unprecedented level of “money grubbing” by the Trump family that makes his first term in the White House—where he cashed in on “branded” properties—look like an exercise of modesty, WSWS reported.
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GAZA DEATH TOLL
The death toll in Gaza reached 52,862 and 119,648 people have been wounded. There are at least 11,000 people missing.
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YEMEN DEATH TOLL
The U.S. and Houthis announced a truce last week that did not involve Israel after a weekslong air campaign by Washington to “annihilate” the Houthis who have enforced a blockade in the Red Sea over Israel’s brutal genocide against Palestinians in Gaza.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
U.S.-based employers cut 105,441 positions in April with retailers cutting 7,235 jobs, according to outplacement firm Challenger, Gray & Christmas.
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BANK OF ENGLAND CUTS INTEREST RATE FOR A FOURTH TIME
On 8 May, the Bank of England (BoE) cut its policy interest rate from 4.5 percent to 4.25 percent, the fourth reduction in the rate-setting committee’s last seven meetings.
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RUSSIA TRIPLES ITS BUDGET DEFICIT AS OIL PRICES TUMBLE
The Kremlin will allow Russia’s budget deficit to more than triple this year from 0.5 percent of GDP to 1.7 percent as oil prices are projected to remain in their current $60 neighborhood for weeks or months to come.