On 10 April, Fitch cut its outlook on China's credit rating from stable to negative, pointing to risks as the country adopts a new approach to economic growth and struggles to steer its economy away from dependence on real estate development and publicly funded infrastructure projects.
Merger and Acquisition took a break when the Federal Reserve and EU began aggressively raising interest rates from their zero and negative levels back in March and July 2022 respectively.
Despite a strong economy, several major banks muted their earnings forecast for this year, citing the need to pay higher interest on customers’ deposits.
The global economy is entering a decade of “tepid growth” and “popular discontent,” Kristalina Georgieva, managing director of the International Monetary Fund (IMF), warned in an 11 April speech to the Atlantic Council.
The Netherlands office of KPMG, a global accounting and business services firm, will pay $25 million to settle charges that it failed to take action against employees who cheated on certification exams and then lied about the cheating to investigators.
Reporting a “substantial” drop in applications for loans, Eurozone banks are pressing the European Central Bank (ECB) to cut its interest rate from a record 4 percent, where it has held since last September.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
The European Central Bank’s (ECB’s) governing council left the bank’s base interest rate at a record 4 percent at its meeting last week and gave a strong indication that it will cut the rate when it convenes again on 6 June.
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
The International Energy Agency (IEA) has shaved its outlook for this year’s growth in oil demand from 1.3 million barrels a day to 1.2 million. Demand growth will slip to 1.1 million barrels daily next year, the agency said.