On 17 October, the European Central Bank (ECB) cut its key interest rate by a quarter point, the same as it did in June and September, bringing the rate to 3.25 percent.
Category: 22 October 2024
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GOING OUT OF BUSINESS TRENDS
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, increased minimum wage, looming fears of a recession, and a tangible decrease in revenues for many sectors…
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Manufacturing and healthcare top the list of job cuts this week with several companies announcing hundreds of layoffs.
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HIGH DEBT, SLOW GROWTH DRAG DOWN GLOBAL ECONOMY, IMF SAYS
The world’s debt burden, already high and still growing, coupled with “anemic” economic growth are hobbling the global economy, Kristalina Georgieva, the International Monetary Fund’s managing director, said in a 17 October CNBC interview.
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WHY U.S. INFLATION IS STILL A PROBLEM
Top-line inflation in the U.S. fell to 2.4 percent in September. Goldman Sachs analysts are speculating that the number could be rounded down to the U.S. Federal Reserve’s 2-percent target when the Bureau of Economic Analysis releases the updated Personal Consumption Expenditures Price Index on 31 October.
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STRAPPED CORPORATE BORROWERS DEFER PAYMENTS TO CONSERVE CASH
Companies that have borrowed from private credit funds and now face a financial squeeze are using a tactic called “payment in kind” (PIK) to skip their payments and conserve their cash.
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HEALTH INSURANCE COSTS ROSE 7 PERCENT IN LAST 12 MONTHS
Inflation may be easing, but the cost of health insurance is still on the rise.
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SEPTEMBER CONSUMER SPENDING BEATS FORECAST; JOBLESS CLAIMS FALL
U.S. consumer spending grew 0.4 percent in September, more than the 0.3 percent expected by Dow Jones and much stronger than August’s estimated 0.1-percent gain.
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DEFICIT TOPS $1.8 TRILLION AS INTEREST PAYMENTS SURPASS $1 TRILLION
The U.S.’s annual budget deficit grew by $138 billion, or 8 percent, in the fiscal year that ended 30 September to $1.833 trillion.
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ASML SINKS CHIP STOCKS
On 16 October, Dutch tech firm ASML, which makes machines that make computer chips, warned of a slow year ahead in the semiconductor industry, outside of sales related to artificial intelligence (AI).