As forecast, the Merger and Acquisition trend which we have been long reporting would peak when the Federal Reserve would aggressively raise interest rates and cut off the cheap money supply, has indeed peaked. Indeed, they “slowed to a trickle”... and here are the latest “trickles.”
The Central Bank of the Republic of Turkey saw its foreign currency reserves dwindle by $9.5 billion from 1 April through 12 May and its gold stores shrink by $7.9 billion ahead of mid-May’s first-round presidential election, the Financial Times calculated from the bank’s data.
Last week, the Bank of England Museum hosted a “Festival of Mistakes,” highlighting notable financial blunders and panics of the past.
With high interest rates and inflation easing, emerging economies are drawing a fresh influx of investment in their own local currencies.
In a 15 May BBC television presentation, Nigel Farage said, “Brexit has failed.”
The world’s 1,200 largest corporations bought a record $1.3 trillion worth of their own stock in 2022, three times the dollar value of the same purchases made ten years earlier, the Financial Times reported.
The list of firings each week gets longer. Welcome to week 40 of job losses. As we have kept noting, higher Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
The number of oil and gas drilling rigs working in the U.S. has slid 6 percent since the end of 2022 and stood at 731 during the second week of May, Baker Hughes, a major oilfield services firm, reported.
Last month, U.S. home sales continued their slide that began in January 2022 and reversed only for a month—in February this year—before resuming their decline.
For the second consecutive month, most small businesses report they have no plans to add workers over the next 12 months, according to a Wall Street Journal survey.