As forecast, the Merger and Acquisition trend which we have been long reporting would peak when the Federal Reserve would aggressively raise interest rates and cut off the cheap money supply.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Dec 13 2022
In November, the volume of goods China shipped abroad fell 8.7 percent from a year earlier, the steepest annual drop since February 2020 when international COVID lockdowns were slamming the world’s economy shut, The Wall Street Journal reported.
Russia will sell no oil to countries that support the G7 and European Union’s $60-per-barrel cap on Russia’s oil exports and “we will possibly think about a cut in production,” Russian president Vladimir Putin said in a public statement.
The Bank of Canada (BoC) added a half-point to its base interest rate last week, bringing it to 4.25 percent, its highest in 15 years.
The price of lithium, essential in batteries of all kinds and especially those for electric vehicles (EVs), soared to record levels this year. Last week’s price of $69,470 a ton was triple what it was a year earlier.
Britain’s manufacturing sector has contracted by 4.4 percent this year, according to a survey by Make UK, a manufacturers’ trade group, and will shrink by an additional 3.2 percent in 2023, survey respondents predicted.
Solar energy’s steadily falling costs, a growing public awareness of the climate crisis, and the energy shortage wrought by the Ukraine war are creating a boom in renewable energy that will make renewables the chief source of electricity generation worldwide by 2025, the International Energy Agency (IEA) has predicted.
The global economy will expand by less than 3 percent a year through 2032, compared to an average of 3.6 percent before the COVID era, then gradually decline until at least 2075, according to a new forecast by analysts at Goldman Sachs.
This is week 21 of our report on job losses, and with each passing week, the weekly losses grow larger. Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
Sixty-nine of the world’s poorest nations have $62 billion coming due this year in foreign debt payments, 35 percent more than during last year, the World Bank reported.