Swedish vehicle maker Volvo has delayed building a new battery plant in its home country to power its heavy-duty electric trucks.
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IEA CUTS OIL DEMAND FORECAST AGAIN ON CHINA’S WEAKNESS
For the second time in two months, the International Energy Agency (IEA) has reduced its 2024 oil demand outlook, once again citing China’s “rapidly slowing” oil usage.
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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.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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RUSSIA’S CENTRAL BANK RAISES INTEREST RATE AGAIN
For the second time in as many meetings, the Bank of Russia’s governing committee raised the bank’s key interest rate, adding a full percentage point and lifting the rate to 19 percent.
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ECB CUTS KEY INTEREST RATE BY QUARTER POINT
On 13 September, the European Central Bank (ECB) shaved a quarter point from its policy interest rate, cutting it to 3.5 percent as inflation slowed to 2.2 percent and indicators showed the Eurozone’s economy staggering.
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INVEST HEAVILY OR LIVING STANDARD WILL CRUMBLE, EUROPE TOLD
To maintain the living standards its residents desire and compete with China and the U.S., the European Union must invest €750 billion to €800bn billion a year.
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INTEREST ON U.S. NATIONAL DEBT TOPS $1 TRILLION
As of 12 September, the U.S. treasury had paid $1.049 trillion in interest on the national debt this fiscal year, 30 percent more than last year at this time as the U.S. Federal Reserve has held interest rates at their highest for the last 14 months.
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THE U.S. HAS MORE JOB APPLICANTS THAN AVAILABLE JOBS
Posted job requisitions increased 7 percent during the first six months of 2024, year on year, while job applications rocketed up 31 percent, according to a study released last week by hiring website Workday.
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ISRAELI DEFENSE HEAD: ‘MILITARY ACTION’ NEEDED TO RETURN ISRAELIS TO THE NORTH
Yoav Gallant, the Israeli defense head, reportedly told a top U.S. negotiator on Monday that “military action” seems to be the only option to return tens of thousands of Israelis to their homes in the north amid an increase in violence with Lebanon’s Hezbollah.