Evergrande, China’s flamboyant, overleveraged property developer whose defaults in September 2021 set off a chain of collapses across the sector, announced last week it still owes tens of billions of dollars to contractors, lenders, and suppliers and that its chairman is under criminal investigation.
Echoing Gerald Celente’s July 2020 forecast, Bloomberg’s Markets Live Pulse survey reports that a majority of 919 respondents believe that the market value of U.S. office buildings is due to crash.
Last week, Banxico’s rate-setting committee voted unanimously to hold the central bank’s key interest rate at 11.25 percent for its fourth consecutive meeting, matching the unanimous expectation of 23 economists Bloomberg surveyed.
Sinopac, China’s largest oil company, has calculated that the world’s gasoline demand has peaked as electric vehicles (EVs) have aggressively asserted their place in the global vehicle market.
JetBlue Airways reported a downturn in U.S. domestic travel in August, while low-fare Spirit Airlines has issued a profit warning and has resorted to “deep discounting” to spur ticket sales.
Mergers and acquisitions worldwide slowed to a value of $2 trillion in the first nine months of this year, the least since 2013 and a 28-percent decline from the same period in 2022, according to data from the London Stock Exchange Group.
In September, inflation among the 20-nation Eurozone fell to an annual rate of 4.3 percent, its slowest in two years, and beat analysts’ forecasts of 4.5 percent.
Investors in European bonds sold off last week on fears that the European Central Bank will hold rates higher for longer and because Italy’s budget deficit came in larger than expected.
In 2021, Liontown Resources had budgeted $300 million for its new Australian lithium mine. The budget now is twice that.
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.