In the past 12 months, 11,049 Australian businesses have filed for bankruptcy. The number rocketed up 39 percent compared to the same period across 2022 and 2023, according to the Australian Securities and Investments Commission.
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EUROPEAN HOME VALUES RISE IN SECOND QUARTER
Home prices in the Eurozone rose 1.3 percent in this year’s second quarter, year over year, after contracting for four successive quarters.
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BP SCRAPS PLAN TO SLASH OIL AND GAS PRODUCTION BY 2030
Fossil fuels giant BP, one of the earliest oil companies to explore alternative fuels, has abandoned its goal of reducing oil and gas output by 40 percent by 2030, Reuters reported.
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EUROZONE INFLATION FALLS BELOW CENTRAL BANK’S 2-PERCENT TARGET
After registering 2.2 percent in August, inflation among the 20 countries that share the Eurozone currency fell to 1.8 percent in September, below the European Central Bank’s (ECB’s) 2-percent target.
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GERMAN FACTORIES RECEIVED FEWER NEW ORDERS AGAIN IN AUGUST
Orders for Germany’s industrial goods dropped 5.8 percent in August from July, almost three times the 2-percent slip that economists in a Reuters survey had expected.
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EUROZONE MANUFACTURING ACTIVITY SHRANK IN SEPTEMBER
The 20-country Eurozone saw factory activity decrease last month, according to the Hamburg Commerce Bank’s purchasing managers index (PMI).
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GLOBAL FOOD PRICES SPIKED IN SEPTEMBER
Last month, food prices worldwide rose the fastest at any time in the last 18 months, with sugar’s price climbing the most, the U.N.’s Food and Agriculture Organization (FAO) reported last week.
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FACTORY ORDERS TICKED DOWN IN AUGUST
In August, new orders coming to U.S. factories were 0.2 percent lower than in July, the commerce department reported.
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SERVICE ECONOMY GROWTH ACCELERATED IN SEPTEMBER
The U.S. service sector grew more than expected last month.
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ECONOMY SPROUTED 254,000 NEW JOBS IN SEPTEMBER, BUT NOT GOOD AS IT SEEMS
The U.S. economy grew 254,000 additional nonfarm jobs last month, the largest monthly gain since March. The spurt startled economists, many of whom had expected to see 150,000 at most.