A 5-percent gain in North American sales was not enough to offset a sharp 26-percent drop in purchases in China, resulting in Porsche posting a 6-percent decline in sales worldwide this year through September.
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TRUMP ESCALATES TRADE WAR WITH 100-PERCENT TARIFF ON CHINA
After Beijing tightened restrictions on exports of minerals and refining technologies crucial to U.S. high-tech industries, Donald Trump announced the U.S. will impose a 100-percent tariff on Chinese imports beginning 1 November and will place more stringent export controls on "any and all critical software".
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The U.S. government shutdown has resulted in 4,000 federal workers losing their jobs. Many of the layoffs took place at the Treasury Department and the Department of Health and Human Services, where approximately 1,600 were laid off. The Department of Education laid off 460 employees including most of the staff at the Office of Special Education and Rehabilitative Services.
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CONSUMERS ARE COOKING MORE AT HOME, BOOSTING GROCERY SALES
Continued inflation and worries about their economic future have more consumers eating at home, a worrying trend for the larger economy but a nice boost for the grocery business.
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DOGE’S COST-CUTTING CAMPAIGN RESULTS
Elon Musk and the computer bro’s in his Department of Government Efficiency (DOGE) came into the government last January with a promise to cut federal spending by $2 trillion—almost a third of the entire federal budget.
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HOMEOWNERS RUSH TO REFINANCE AS MORTGAGE RATE TICKS DOWN
A decline of 0.3 of a percentage point brought the national average mortgage interest rate to 6.26 percent over the three weeks ending 17 September, the lowest rate since last November, according to the Mortgage Bankers Association (MBA).
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THE NUMBER OF LATE-PAYING CAR LOANS CONTINUES TO RISE
As wage increases lag inflation and unemployment ticks up, low-income households are having a harder time keeping up with their car payments.
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CONSUMERS OUTLOOK REMAINS DARK
Households’ negative view of the U.S. economy and its future remains grim, according to the initial October result of the University of Michigan’s monthly survey of consumer sentiment.
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WARNINGS MOUNT REGARDING A STOCK MARKET BUBBLE
The International Monetary Fund and Bank of England have joined Morgan Stanley and JPMorgan boss James Dimon in raising alarms about the growing possibility of a stock market bubble that could be close to bursting.