On 30 October, Europe’s tariffs on electric vehicles (EVs) made in China took effect. The cars carry retail prices well below those of EVs made in Europe.
Author: admin (Kendrick Williams)
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MAERSK PROFITS RISE ON RED SEA TURMOIL
AP Moller-Maersk, which operates the world’s second-largest fleet of cargo ships, reported third-quarter profits shot from $521 million a year ago to $3.05 billion this year on the strength of continued conflict in the Red Sea.
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SOUTH AFRICA CUTS GROWTH TARGET
Last week, Africa’s most industrialized nation cut its fiscal 2025 growth outlook from 1.3 percent to 1.1 percent “in a sign of enormous [economic] pain” the country has suffered “after a dismal decade,” the Financial Times said.
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EUROZONE INFLATION RISES TO 2 PERCENT IN OCTOBER
After falling to 1.7 percent in September, inflation in the Eurozone bounced back to 2 percent last month, edging above analysts’ forecasts of a 1.9-percent pace.
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EUROZONE GROWTH ACCELERATES IN THIRD QUARTER
The collective economy of the 20 countries sharing the euro currency grew 0.4 percent in the third quarter, twice the speed of the 0.2-percent gain in the second quarter, according to official data.
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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
The retail, restaurant, manufacturing, automotive and tech industries continue to be hit hard as prices increase and demand slows.
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U.S. ECONOMIC BRIEFS
Last month, U.S. manufacturing activity shrank to its lowest point this year.
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ALMOST A THIRD OF U.S. CAR LOANS ARE UNDERWATER
About 31 million of the roughly 100 million people making car payments owe more than their car is worth, putting the loan “underwater,” according to CarEdge, an online auto dealer.
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KEY INFLATION MEASURE FALLS TO 2.1 PERCENT IN SEPTEMBER
The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s preferred measure of inflation, ran at an annualized rate of 2.1 percent in September, according to government data.
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