Consolidation is the name of the Bigs game. The more they own the more they control... it’s the way of the power-hungry world.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 21 2023
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SPOTLIGHT: CHINA’S ECONOMY
Last month, retail sales in China surged 7.6 percent, the National Bureau of Statistics (NBS) reported, beating a 7-percent gain foreseen in a Reuters survey of economists.
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TOP TREND 2023, GOING GREEN, LIKE IT OR NOT: EXXONMOBIL GOES INTO THE LITHIUM BUSINESS
ExxonMobil, the world’s most profitable oil company, will drill for lithium on 120,000 acres it leased earlier this year in Arkansas’s Smackover oil play, the company has announced. It expects to bring its lithium to market in 2027.
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PERU’S RECESSION DEEPENS MORE THAN EXPECTED
Peru’s economy shrank by 1.29 percent in October, year over year, marking the third consecutive quarter of contraction. October’s slide proved worse than all nine forecasts that had been made, which had foreseen a median 0.6-percent decline.
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ANOTHER LUXURY BRAND REPORTS THIRD-QUARTER SLUMP
Following other luxury brands, Burberry had disappointing news for investors last week.
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DENMARK SLIPS INTO RECESSION
The Danish economy contracted by 0.3 percent in each of the last two quarters, according to Statistics Denmark.
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CHAINSAW MASSACRE? ARGENTINA ELECTS MILEI
Argentina’s voters elected former television commentator Javier Milei as their president in a runoff election on 19 November.
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JAPAN’S ECONOMY CONTRACTS IN THIRD QUARTER
The Japanese economy shrank by 2.1 percent in this year’s third quarter after growing a whopping 4.8 percent in the second.
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INFLATION, RETAIL SALES IN U.K. KEEP SLOWING DOWN
In October, sharply lower energy prices dropped Britain’s inflation rate to 4.6 percent, the slowest since October 2021, after running at 6.7 percent in September.
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RUSSIA EVADES OIL PRICE CAP
Among sanctions against Russia to punish it for invading Ukraine is a $60-per-barrel cap on the price nations can pay and still see their shipments insured.