As we have noted since the Central Banksters started to rapidly raise interest rates, the decade’s long merger and acquisition spree is over. However, the “Bigs” will still get bigger, as they buy out overleveraged companies that can’t afford to borrow at high rates to refinance while, at the same time, recessionary pressures erode their profitability.
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Oct 24 2023
Following a number of policy tweaks by Beijing, China’s economy grew at an annual pace of 4.9 percent in this year’s third quarter, beating a Reuters poll of economists predictions of a 4.5-percent expansion.
The value of commercial loans officially considered “in distress,” meaning they are approaching default, reached $79.7 billion in this year’s third quarter, the highest since 2013, MSCI Real Assets reported.
In September, Britain’s annual inflation rate held at 6.7 percent, the same as August, as rising fuel prices offset lower food costs.
The prices that German manufacturers charge for their goods plunged 14.7 percent in this year’s first nine months, the steepest nine-month plunge since records began being kept in 1949, the government reported.
Prices for cobalt, lithium, and nickel—metals used extensively in building electric vehicles (EVs) and their batteries—have plummeted this year as demand for EVs and electronics in general has withered in China, the world’s largest EV market.
Union Pacific Railroad reported third-quarter revenue of $5.94 billion, 10 percent less than the same period in 2022, and a 19-percent reduction in profits, which fell to $1.5 billion.
Seeking to hold its control over markets for materials related to electric vehicles (EVs), China will now require export permits for some forms of graphite.
In recent times, 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, looming fears of a recession, and a tangible decrease in revenues for many sectors…all made worse by the COVID War which destroyed the lives and livelihoods of billions across the globe.
This is week 59 of our job loss report. 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.