Chicago-based VillageMD, an affiliate of Walgreens Boots Alliance, the drug chain’s British division, is buying Summit Health, a chain of 340 urgent and primary care clinics in the U.S. northeast and Oregon.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 15 2022
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SPOTLIGHT: CHINA
Shops and warehouses in the U.S. and Europe are overstocked with inventory, causing orders for new goods from China’s factories to plunge by as much as 50 percent last month, according to the Financial Times.
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ARE LUXURY BRANDS PEAKING?
In this year’s third quarter, the Ralph Lauren fashion brand’s U.S. revenue grew 13 percent. Capri Holdings, which owns Michael Kors and Versace, saw revenue jump 17.5 percent. Both grew more than the rate of inflation.
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ECB: INTEREST RATES TO GO UP AS ECONOMY GOES DOWN
Officials of the European Central Bank (ECB) denied claims of a pending “dovish pivot” that would lead the bank to slow its pace of interest rate hikes or stop them entirely.
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POLAND’S ECONOMY TANKS AS INFLATION ROCKETS UP
Inflation in Poland is galloping at almost 18 percent, with core inflation—which leaves out food and fuel price increases—above 10 percent.
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U.K. HIT BY DRAGFLATION
Britain’s economy contracted 0.2 percent in this year’s third quarter and considering the socioeconomic and geopolitical trends it will continue to shrink through the winter.
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TOP TREND 2022, DRAGFLATON: GERMANY LEADS THE CHARGE
Led by slumping factory output in Germany, the Eurozone will enter a recession this quarter that will endure at least through the first three months of 2023, the European Commission (EC) has predicted.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
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.