During April, May, and June this year, personal bankruptcies increased 23.5 percent and business bankruptcies were up 36.9 percent, year on year, Canada’s Office of the Superintendent of Bankruptcy reported, blaming sharply higher interest rates for the failures.
In the first six months of this year, European equity markets saw the fewest initial public stock offerings—just 34—since 2009 during the Great Recession, according to the Financial Times.
The Bank of England (BoE) raised its base interest rate for the 14th time in as many meetings, setting it at 5.25 percent, its highest in 15 years.
Investors are adjusting their holdings in Europe in light of a growing conviction that the region faces a “painful economic downturn,” the Financial Times reported.
Global food prices will continue to increase even though inflation in many countries is waning, analysts are predicting.
No recession? Everything is fine.
Thanks to the COVID War which locked down much of the globe, the economic landscape has presented an array of challenges that have profoundly affected the business community.
Workers strikes, still high inflation and high interest rates are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses. This is week 50.
Chris Christie, a Republican hopeful for president, made an unannounced visit to Kyiv last week to meet with Ukrainian President Volodymyr Zelensky to showcase his support for the country in its war with Russia.
The Australian military is now funding experiments that subject lab-grown human brain cells for use as “organoid” computer chips to power Artificial Intelligence.
China’s government has announced the world’s most far-reaching strictures to date governing artificial intelligence.