Tesla CEO Elon Musk has been ranked as the world’s richest person, with assets of around a quarter of a trillion dollars.
Category: 6 August 2024
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firms have committed to $2 trillion worth of deals that they have not yet funded, data service Preqin reported.
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TOP TREND 2023, SELF-SUFFICIENT ECONOMIES: CHINA’S SOLAR FARMS ARE CROWDING OUT CROPS
As part of its relentless obsession with building infrastructure, in 2023 China installed more solar panels than the U.S. has in its history—217 million kilowatts, more than half of all the solar capacity the world added last year.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
After slowing steadily for months, China’s factory production actually contracted in July, according to the Caixin S&P Global purchasing managers index (PMI).
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FORMER PALESTINIAN INMATES DETAIL THE HORRORS OF BEING HELD BY ISRAEL
A report published by the human rights group B'Tselem shed new light on the abuse and mistreatment that Palestinian inmates face while being held by the Israelis—usually without ever being charged with a crime.
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SPOTLIGHT: JAPAN’S ECONOMY IN FLUX
On 31 July, the Bank of Japan (BoJ) raised its policy interest rate from between zero and 0.1 percent to .25 percent.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: SECOND-QUARTER DEMAND FOR GOLD HIGHEST ON RECORD
Worldwide gold purchases totaled 1,258 tons in this year’s second quarter, 4 percent more than a year earlier and the most in any three-month period since 2000 when the World Gold Council (WGC) began tracking sales.
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L’OREAL GROWTH SLOWS ON CHINA SLUMP
China’s staggering economy bogged down another luxury house in the year’s second quarter, with make-up and skincare conglomerate L’Oreal reporting a 2.4-percent sales slump in its Asia region that includes China.
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TOYOTA, VOLKSWAGEN REPORT IMPROVED FINANCIALS
The weak yen and robust sales of gas-electric hybrid vehicles increased Toyota’s net profit by 1.7 percent to ¥1.33 trillion year on year, equivalent to about $8.89 billion, during its fiscal first quarter, the company said.
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BRITISH SHOPPERS ARE NOT SHOPPING
During the four weeks ending 27 July, foot traffic in U.K.’s retail storefronts was 3.3 percent less than a year earlier and 2.3 percent less than in June, the British Retail Consortium (BRC) reported.