This year’s surge in mergers and acquisitions has rewarded Goldman Sachs with a 150-percent gain in its second-quarter profits, lifting them to $3 billion.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – July 23 2024
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TOP TREND 2023, OFFICE BUILDING BUST: COMMERCIAL REAL ESTATE BUST UNDERMINING BOND DEALS
Thanks to the tumbling values of commercial properties, defaults are on the rise in a sector of the debt market known as single-asset, single-borrower bonds (SASBs).
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TOP TREND 2024: EV GO FU
After five years of mapping a road to an all-electric future, designing electric vehicles (EVs) and retooling factories to make them, and investing billions of dollars along the way, U.S. car companies are hitting the brakes.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The Chinese Communist Party published a list of 60 policy goals after its meeting last week. The goals were broad, such as improving the business environment and focusing on cutting-edge industries, but included no details of how the goals would be met.
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KEY INVESTOR IN “GREEN HYDROGEN” PULLS BACK
Fortescue, an Australian energy and metals corporation, has abandoned its commitment to produce 15 tons of “green hydrogen” annually for the ammonia industry by 2030. Founder and executive board chair Andrew Forrest has realized the goal is unrealistic, people familiar told the Financial Times.
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CANADA’S CONSUMERS SLOW THEIR SPENDING
Canadians spent $66.1 billion in May, 0.8 percent less in dollar terms than in April when retail spending rose 0.6 percent. The volume of goods and services bought fell by 0.7 percent.
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HUGO BOSS SHARE PRICE SLUMPS AS LUXURY MARKETS CONTINUE TO SHRINK
On 16 July, German high-fashion clothier Hugo Boss saw its share price dive as much as 10 percent after it trimmed its 2024 sales forecast from €4.5 billion to €4.35 billion.
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ECB FREEZES INTEREST RATE, HINTS AT SEPTEMBER CUT
On 18 July, the governing council of the European Central Bank (ECB) met and left its key interest rate at 3.75 percent, as analysts expected.
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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
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.