BlackRock, the world’s largest private equity firm, is complementing its hefty presence in public stock, bond, and commodity markets with additional moves into the private credit business.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Dec 10 2024
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TOP TREND 2024, EV GO FU: EVs MORE RELIABLE BUT STILL LESS SO THAN INTERNAL COMBUSTION CARS
The reliability of electric vehicles (EVs) has surged, a Consumer Reports survey found. EV drivers reported 42 percent more trouble than drivers of internal combustion cars did. However, that represents a major improvement from the 79-percent gap found in 2023.
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CURRENCY CONTROLS HOBBLE ARGENTINA’S FOREIGN INVESTMENT CAMPAIGN
Argentina’s maverick president Javier Milei has assembled a $50-billion package of tax incentives, eased customs regulations, and smoother currency exchange mechanisms to draw foreign investors to help rebuild the country’s broken economy.
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DON’T DUMP THE DOLLAR, TRUMP WARNS BRICS NATIONS
Incoming U.S. president Donald Trump has demanded that the eight-nation BRICS trading bloc abandon ideas of creating a common currency and continue using the U.S. dollar instead.
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CANADA’S JOBLESS RATE INCREASES IN NOVEMBER
Last month, Canada’s unemployment rate rose to 6.8 percent from 6.5 percent in October, Statistics Canada reported, as more people went looking for work in the country’s feeble economy.
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GM WRITES OFF $5 BILLION FROM ITS CHINA OPERATIONS
General Motors will take a $5-billion loss on its struggling operations in China, the company announced.
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CHINA RETALIATES AGAINST U.S. TRADE RESTRICTIONS
On 3 December, China banned exports to the U.S. of gallium and germanium in retaliation for President Joe Biden’s ban on sales of advanced computer chips to the country.
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AUSTRALIA’S ECONOMY SLIPS TOWARD RECESSION AND “NATIONAL EMERGENCY”
In this year’s third quarter, Australia’s economy squeaked out growth of 0.8 percent, year on year, down from 1 percent in the preceding three months, government figures show. The expansion was the slimmest since the end of the COVID War, the World Socialist Web Site (WSWS) reported.
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INDIA’S CENTRAL BANK CUTS GROWTH FORECAST
The Royal Bank of India has trimmed its growth outlook for the 2025-26 fiscal year from 7.2 percent down to 6.6 percent.
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OPEC+ MAINTAINS OIL SUPPLY CUTBACKS, SAUDIS CUT PRICES FOR SOME MARKETS
The Organization of Petroleum Exporting Countries and allied nations have agreed to delay January’s planned production increases until 31 March, then spread the increases over the following 18 months.