A Bitcoin fund operated by private equity firm BlackRock is about to become the world’s largest, the Financial Times reported.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – May 21 2024
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IEA PARES 2024 OIL DEMAND FORECAST, WIDENS GAP WITH OPEC OUTLOOK
The world’s demand for oil will grow by 1.1 million barrels a day this year, the International Energy Agency (IEA) said in its new monthly report, shaving 140,000 barrels from its previous forecast.
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PRIVATE FUNDS MOVE INTO REAL ESTATE LENDING AS BANKS STEP BACK
Some of the world’s largest investment funds are jumping into the real estate lending business as banks tighten loan criteria and hoard cash against an expected rise in failing commercial real estate loans.
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CANADA’S STANDARD OF LIVING HAS CRASHED, STUDY SAYS
As a gross number, the rate of Canada’s economic growth was the second-best among G7 nations from 2000 through 2023.
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JAPAN’S ECONOMY FALLS INTO DRAGFLATION
In this year’s first quarter, Japan’s economic output shrank 0.5 percent compared to the same period in 2023.
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SPOTLIGHT: BIGS GETTING BIGGER
American International Group (AIG) is selling control of Corebridge Financial, its life insurance and retirement funding division, to Nippon Life Insurance, Japan’s largest insurer, for about $3.8 billion.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Several cities in China are enacting a policy authorized recently by Beijing: buying partially built homes from developers and completing the units as affordable apartments for low- and middle-income families.
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CANADA PLAYING THE NEW TARIFFS GAME ON CHINA AFTER U.S. ANNOUNCEMENT
Canada’s government may follow the U.S. is hitting Chinese imports with new tariffs after President Joe Biden announced sweeping tariffs of as much as 102.5 percent on Chinese goods earlier this month.
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TOP TREND 2024, EV GO FU: STRONG HYBRID SALES HELP ASIAN CARMAKERS SHIFT TO EVs
Thanks to a weak yen and strong U.S. demand for gas-electric hybrid cars, Honda and Toyota reported 2023 as their most profitable year yet.
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SPOTLIGHT: LUXURY INDUSTRY IN TRANSITION
British luxury brand Burberry reported £418 million in adjusted operating profit in fiscal 2024, which ended 30 March. The company had projected a net of £410 million to £460 million.