Companies in the U.S. private sector did more business in August than in July, according to S&P Global’s flash purchasing managers index (PMI) this month.
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DIESEL PRICES REBOUND, THREATENING A NEW ROUND OF INFLATION
On 18 August, the price of diesel fuel averaged $5.47 a gallon, bouncing higher on renewed fears of an extended Iran war.
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SPOTLIGHT: BIGS GETTING BIGGER
Payment processing company Stripe will put up $8 billion in cash and stock to take over OpenRouter, a startup that allows companies to switch among various AI models to find the one that is cheapest or best suited to a particular need.
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SPOTLIGHT: THE “HORMUZ WAR” SHAKES UP THE SHIPPING INDUSTRY
Iran claims to have blacklisted 45 tankers that have violated its rules for passing through the Strait of Hormuz.
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AI FRENZY VAULTS CHINA’S TECH STOCKS’ VALUATIONS ABOVE U.S. RIVALS
China’s top tech stock index has returned 29 percent this year through 18 August, more than twice the NASDAQ’s 12.4 percent.
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EUROPEANS PILE UP SAVINGS, SLOWING GDP GROWTH
In this year’s first quarter, Europeans’ gross savings ratio – the amount of disposable income not spent on goods and services – was 14.3 percent, rising above the average of 12.5 percent during the five years before the COVID War, the European Union’s statistics office reported.
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U.S., CANADA TRADE TALKS COLLAPSE, BOTH SIDES IMPOSE TARIFFS
Trade negotiations between the U.S. and Canada ended abruptly on 21 August, with both sides saying the other had sprung last-minute changes that were unacceptable.
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GOING OUT OF BUSINESS TRENDS
America’s economic decline continues to spread from Main Street to major corporations.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Companies continue slashing jobs as economic pressures intensify and business conditions weaken.
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GAZA/LEBANON DEATH TOLL
Israel killed about 73,431 Palestinians and injured another 174,437 since the genocidal war started in October 2023.