In this year’s third quarter, sales in PepsiCo’s Frito-Lay snack division rose an “underwhelming” 1.3 percent, The Wall Street Journal reported, with Frito-Lay North America posting a decline of 1.5 percent.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Oct 15 2024
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RETAILERS CUT PRICES TO WIN BACK CUSTOMERS
After years of hiking prices to keep up with inflation, retailers are now cutting prices to hold onto shoppers who have less to spend and are looking for bargains.
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BANKSTER BANDITS: TD BANK PLEADS GUILTY, WILL PAY $3 BILLION IN FINES
On 10 October, Canada’s TD Bank pleaded guilty in a U.S. federal court to charges related to money laundering and agreed to pay $3 billion in fines, the largest cash penalty ever imposed in the U.S. on a bank guilty of money-laundering charges.
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GERMAN STEELMAKER IS LATEST TO SLOW THE TRANSITION TO CLEAN ENERGY
Thyssenkrupp, one of Germany’s largest steel producers, is reviewing its plan to move its steelmaking processes from fossil fuels to clean energy sources.
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STELLANTIS SHARE PRICE FALLS AFTER MANAGEMENT SHAKE-UP
Stellantis, the Netherlands-based owner of 15 car brands including Jeep, RAM, and Fiat, has announced its CEO will leave the company early in 2026, while the chief financial officer and North America’s chief operating officer will depart sooner.
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UK ECONOMY RETURNS TO GROWTH IN AUGUST
After shrinking in June and July, Britain’s economy managed to expand 0.2 percent in August, according to the Office of National Statistics (ONS). The figure matched the expectations of economists answering a Reuters poll.
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SPOTLIGHT: BIGS GETTING BIGGER
BlackRock, the world’s richest private equity firm, has announced that it is managing about $11.3 trillion for investors, the most money it has ever had under its control.
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VOLKSWAGEN’S ILLS EMBLEMATIC OF GERMANY’S CRISIS
In the third quarter, Volkswagen delivered 7.1 percent fewer vehicles, citing falling sales in China, where buyers are gravitating toward native brands and Chinese electric vehicles (EVs) are higher in quality and lower in price than those from Western makers.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s roaring rally in equity markets seems to be running out of energy. After the People’s Bank of China created a fund to make cheap loans that people and businesses could use to buy stocks, markets soared.
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TOP TREND 2023: OFFICE BUILDING BUST: LANDLORDS OFFER TURNKEY OFFICE SUITES TO LURE TENANTS
In Canada, where the office vacancy rate rose to 14.7 percent in the third quarter, office landlords are offering prospective tenants turnkey office suites, with desks, chairs, breakrooms, and other accouterments already in place.