Argentina’s factory output dove 21.2 percent in March, year on year, far more than the 13.5 percent economists had expected. In a survey, 73 percent of manufacturers said they are laying off workers this quarter.
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NEWS CORP REVENUES AND PROFITS DROP WHILE NEW YORK TIMES GAINS
Rupert Murdoch’s News Corp, which owns The Wall Street Journal, book publisher HarperCollins, the Fox broadcasting network, and a string of newspapers and magazines around the world, said revenue slipped 1 percent in this year’s first quarter, while net profit plummeted 40 percent.
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SWEDEN’S CENTRAL BANK MAKES FIRST RATE CUT IN EIGHT YEARS
Sweden’s Riksbank shaved a quarter of a percentage point from its key interest rate last week, dropping the rate to 3.75 percent.
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AUSTRALIA’S CENTRAL BANK WILL KEEP INTEREST RATES HIGH
In February, the Royal Bank of Australia (RBI) noted “encouraging signs” that inflation was waning and hinted at an interest rate cut by the end of this year.
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GLOBAL DEBT SETS NEW RECORD AT $315 TRILLION
In this year’s first quarter, nations took on another $1.3 trillion in debt, pushing the worldwide total to $315 trillion, the Institute of International Finance (IIF) reported.
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GOING OUT OF BUSINESS TRENDS
In recent times, 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. Electric vehicle makers continue to announce job cuts as demand slows in line with one of our Top Trends of 2024: EV GO FU. Tesla announced 316 layoffs at its Buffalo, N.Y. facility and......
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SLAVELANDIA: MOST RENTERS DOUBT THEY WILL EVER OWN A HOME
Six in 10 renters believe they will never be able to own a home, a record proportion in the Federal Reserve Bank of New York’s annual Survey of Consumer Expectations.
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AMERICAN CONSUMERS ARE SINGING THE BLUES
U.S. consumers hold their gloomiest outlook in six months on the American economy, according to the University of Michigan’s monthly survey of consumer sentiment.
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EU STEALING SEIZED RUSSIAN ASSETS TO FUND UKRAINE’S LOST WAR
The European Union moved last week to steal profits made on the 190 billion euros from Russian central bank assets seized in a Belgium bank to help Ukraine fund its war.