Last month, several economic measures weakened again in China under the continuing lack of an active domestic economy.
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SOTHEBY’S LOSES $248 MILLION IN 2024
In 2024, renowned art auction and appraisal house Sotheby’s more than doubled its 2023 pre-tax loss of $106 million to $248 million as inflation and the world’s uncertain economy continued to afflict the art market.
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ECB HOLDS KEY RATE AT 2 PERCENT
The European Central Bank (ECB) held its policy interest rate at 2 percent at its 11 September meeting.
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ASIAN STOCK MARKETS SET RECORDS LAST WEEK
Equity indexes in Japan, South Korea, and Taiwan closed last week at record highs as investors bet the region’s chipmakers will gain greater benefits from the ongoing rally in artificial intelligence stocks.
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GERMAN UNEMPLOYMENT IS HIGHEST IN 10 YEARS
In August, the number of German workers without jobs surpassed three million for the first time since 2015, pegging the unemployment rate at 6.4 percent, government figures show.
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FRENCH GOVERNMENT’S DEBT COLLAPSE IS A WARNING TO OTHER COUNTRIES
Last week, by a vote of 364 to 194, France’s parliament threw out prime minister Francois Bayrou after he was unable to bring political factions together to solve the country’s €3.4-trillion debt crisis.
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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
Thousands of U.S. oil and gas jobs have been cut this year, and more cuts are likely amid a downturn caused by price volatility, rising costs and tariff uncertainty.
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U.S. CONSUMER SENTIMENT SINKS TO FOUR-MONTH LOW
U.S. consumers’ view of the country’s economy slipped lower for a second consecutive month and bottomed at its lowest level in four months, according to the initial September survey of consumer sentiment by the University of Michigan.
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BLS BEGINS INTERNAL REVIEW UNDER WHITE HOUSE PRESSURE
The U.S. Labor Department has begun an internal investigation into the way its Bureau of Labor Statistics (BLS) collects data on inflation and job creation after Trump administration officials have raised questions about the authenticity of the BLS’s reports.