Capital One bank will buy Discover Financial, the issuer of the Discover credit card, in an all-stock deal that will create a unified global payments system.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Feb 20 2024
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Chinese banks have cut their key mortgage interest rate by a quarter point, the largest single reduction ever, in a desperate attempt to revive the real estate market that, in the past, has accounted for more than 20 percent of the country’s GDP.
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ISRAEL INCREASES “FEES” ON PALESTINIAN AUTHORITY
Under the 1995 Oslo Accords, Israel collects various taxes for the benefit of Palestinians, then transfers that money to the Palestinian Authority (PA), which is a semi-autonomous governing body in the occupied West Bank.
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ARGENTINA’S INFLATION REACHES 254 PERCENT
Argentina’s inflation rate climbed to 254 percent in January, year on year, although the month-to-month increases have slowed recently, the government reported on 14 February.
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NATURAL GAS DEMAND TO GROW FOR THE NEXT 20 YEARS, SHELL SAYS
Annual demand for liquefied natural gas (LNG) will rise by 50 percent by 2040 according to global oil and gas company Shell.
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MOST EUROPEAN COMPANIES FALL SHORT OF EARNINGS ESTIMATES
About 53 percent of companies listed on the MSCI Europe Index that have reported fourth-quarter earnings so far have fallen short of analysts’ expectations, according to Bloomberg.
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EU CUTS 2024 GROWTH FORECAST
The European Commission (EC), the European Union’s governing body, has whacked its economic growth forecasts for this year.
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GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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SPOTLIGHT: RECESSION WATCH
Japan’s economy shrank 0.4 percent in 2023’s final quarter, surprising economists and falling into a technical recession, which is defined as two consecutive quarters of economic contraction.