Blackstone is buying AirTrunk, the largest operator of data centers in the Asia-Pacific region, for $16.1 billion, the private equity firm’s largest investment ever in the region.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Sep 10 2024
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SPOTLIGHT: CHINA’S ECONOMIC MALAISE
China’s economy will fail to meet Beijing’s 5-percent growth target this year, according to several investment banks that have now cut their forecasts for the world’s second-largest economy.
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TOP TREND 2023: OFFICE BUILDING BUST
Buildings constructed for life sciences companies—decked out with labs, clean rooms, sensitive ventilation systems, and other custom details—were prime investments as the COVID War raged.
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TOP TREND 2024, EV GO FU: VOLVO DELAYS TRANSITION TO ALL-EV LINEUP
Volvo has abandoned its goal of making and selling only all-electric passenger vehicles (EVs) by 2030, the company announced last week.
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TOP TREND 2024, BANKS GO BUST: BANKS’ PROFITS RISE BUT SO DO POORLY PERFORMING LOANS
The bank sector’s profits rose 11 percent in this year’s second quarter, compared to the first, the Federal Deposit Insurance Corp. (FDIC) reported. Profits totaled $71.5 billion across the survey’s 4.539 institutions.
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TURKEY’S ECONOMIC SLOWS MOST IN FOUR YEARS
In this year’s second quarter, Turkey’s economy grew by 2.5 percent, the slowest since the same quarter in 2020, the country’s statistical institute reported.
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BANK OF CANADA CUTS INTEREST RATE A THIRD TIME
The Bank of Canada has cut its key interest rate for a third time in as many meetings, dropping it by a quarter point to 4.25 percent.
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POST-COVID TRAVEL SPLURGE HAS ENDED, INDUSTRY FIGURES SHOW
As the COVID War ended, people vented their pent-up wanderlust, spending their savings and even going into debt to criss-cross the globe.
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VW MULLING ITS FIRST-EVER CLOSURE OF A GERMAN AUTO FACTORY
Volkswagen, one of Germany’s iconic car makers, is thinking about doing something it never has: shutting down one of its German factories.
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GERMAN EXPORTERS FACE A RECESSION, TRADE GROUP WARNS
Germany’s economic model is under “massive pressure” as manufacturers making goods for export face a recession, the Federation of German Wholesale, Foreign Trade and Services (BGA) warned on 4 September after new data showed foreign trade continuing to decay.