Newmont Corp., the world’s largest gold miner, will take over Australian competitor Newcrest Mining Ltd. in a deal valued at $17.5 billion, the gold mining industry’s largest merger on record.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – May 16 2023
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SPOTLIGHT, TOP TREND 2023: OFFICE BUILDING BUST
Office towers’ values are falling fastest in large, old-order urban centers such as New York City and San Francisco, Ann Walsh, Guggenheim Partners’ chief investment officer, told the FT.
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SPOTLIGHT: INFLATION
Last month, overall U.S. inflation came in at 4.9 percent. While it is the slowest since April 2021, it is still above the 2 percent Fed target rate. Inflation clocked in at 5 percent in March.
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SPOTLIGHT: CHINA
In 2022, Chinese investment in Europe and Britain sank to €7.9 billion, 22 percent below 2021’s level and the lowest since 2013, according to a new study by Rhodium Group and Merics, a German think tank.
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ZIMBABWE ISSUES GOLD COIN TO SHORE UP ITS FAILING CURRENCY
The central bank of the southeast African nation of Zimbabwe has issued a solid gold coin intended to “expand the value-preserving instruments available in the economy.”
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U.K. ECONOMY SQUEAKS OUT 0.1-PERCENT GROWTH IN FIRST QUARTER
Britain managed to expand its GDP by 0.1 percent during the first three months of this year, matching the growth rate in 2022’s final quarter.
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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.
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SPOTLIGHT, TOP TREND 2023: AI – WE OWN YOU
On 11 May, the European Union’s (EU’s) parliament passed a sweeping set of controls that will be incorporated into the union’s Artificial Intelligence Act, likely to become the world’s first comprehensive body of regulations governing AI.