Private equity firm Bain Capital is buying a controlling interest in PowerSchool, which provides school management software and cloud services, for $22.80 a share, which works out to a value of about $5.6 billion.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – June 11 2024
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TOP TREND 2023, OFFICE BUILDING BUST: LATE PAYMENTS, FORECLOSURES CLIMBING AMONG OFFICE BUILDING LOANS
In May, the proportion of late-paying loans on U.S. office buildings rose to 7 percent, almost doubling from 4 percent a year earlier, data service Trepp reported.
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TOP TREND 2024: EV GO FU: REGISTRATIONS OF CHINESE EVS IN EUROPE JUMP 23 PERCENT
During this year’s first four months, registrations of electric vehicles (EVs) made in China and sold in western Europe and the U.K. increased 23 percent, year on year, to 119,300, Schmidt Automotive Research reported.
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SPOTLIGHT: CHINA’S ECONOMY
China’s exports grew by 7.6 percent in dollar value in May, year on year, beating analysts’ forecasts of 6-percent growth. The figure was better than in any month since April 2023.
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EUROPEAN CORPORATE EARNINGS SURPASS EXPECTATIONS
First-quarter earnings among a majority of Europe’s corporations bested analysts’ expectations, in part because companies maintained past price increases while sales and revenues both shrank, The Wall Street Journal reported.
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IN 2023, THE RICH GOT RICHER—AND THERE ARE MORE OF THEM
Last year, the wealth of high-net-worth individuals grew by 4.7 percent to $8.68 trillion dollars, consulting firm Capgemini’s annual wealth report found.
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EUROZONE BUSINESS ACTIVITY ACCELERATES IN MAY
Business in the 20-country Eurozone was more brisk in May than it has been in a year, the Hamburg Commercial Bank’s purchasing managers index (PMI) showed.
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SHIPPING DEMAND AND DELAYS SPIKING, MAERSK SAYS
Spooked by shipping delays and rising costs caused by war in the Red Sea, retailers are ordering their year-end holiday merchandise earlier than normal, worsening current delays in Asian and Mideast ports and backlogging global supply chains, Vincent LeClerc, CEO of shipping giant AP Moller-Maersk, told the Financial Times last week.
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U.S. TREASURY AUCTION RESULT HINTS AT GLOBAL FINANCIAL TROUBLE, WSWS SAYS
Beneath the relative calm of the world’s financial market, there are “signs of turmoil building,” the World Socialist Web Site (WSWS) said last week.
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AUSTRALIA POISED FOR RECESSION
Australia’s economy has flatlined and could easily tip into recession, the Australian Bureau of Statistics (ABS) warned last week.