On 23 September, General Motors told employees that they are to be in their corporate offices at least three days a week beginning later this year.
Author: admin (Kendrick Williams)
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U.K. CENTRAL BANK GOES LOOSE
On 29 September, the Bank of England (BoE) suspended its plans to tighten monetary policy and bought £1 billion in government bonds to stabilize the nation’s debt and pension markets after new prime minister Liz Truss announced her government would initially borrow more than £72 billion to subsidize household energy bills.
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WEST INCREASES WAR RHETORIC AFTER ‘SHAM’ REFERENDUMS
Russian President Vladimir Putin has been criticized in the West for “illegally” annexing territories in Ukraine following what Western officials have called “sham” referendums.
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RUPEE HITS BOTTOM AND FALLS THROUGH IT
The value of India’s rupee fell further to set a new lifetime low against the dollar on 28 September, touching 81.90 to the buck.
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IMF LENDS RECORD AMOUNT WITH MORE TO COME
The International Monetary Fund (IMF), the international lender of last resort, has loaned a record $140 billion so far this year to aid troubled countries, at least five of which already are in default with more on the brink, the Financial Times reported.
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HOUSING CRASH COMING?
In August, after sales of existing homes declined for a sixth consecutive month, the National Association of Realtors (NAR) predicted that “we may see two or three additional months of some decline—nothing meaningful," Lawrence Yun, NAR’s chief economist, told Business Insider.
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SPOTLIGHT: BIGS GETTING BIGGER
Each week, we report instances where the money junky hedge funds, private equity groups and the already big companies swallow another piece of the global economy.
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SPOTLIGHT: CHINA
For the first time since 1990, China’s economic production this year will be less than the rest of Asia’s, the World Bank has predicted.
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IMF SCOLDS U.K. GOVERNMENT OVER PLAN TO CUT TAXES AND BORROW
The International Monetary Fund (IMF) gave a “stinging rebuke” to the government of British Prime Minister Liz Truss over her plan for massive tax cuts—the most drastic since 1972—while also initially borrowing more than £72 billion to subsidize household energy bills, the Financial Times reported.