Four investment managers have pooled resources to buy AES, a Virginia-based electric power producer operating in 14 countries.
Tag: Economy
Post
DESPITE TARIFFS, U.S. TRADE DEFICIT REMAINS NEAR RECORD LEVEL
A key purpose of Donald Trump’s tariffs was to minimize, or even eliminate, the U.S. trade deficit.
Post
OPEC+ BOOSTS OIL OUTPUT MODESTLY AS MARKET TIGHTENS
On 1 March, OPEC+ agreed to add 206,000 barrels a day to the world’s oil supply, beginning next month, to offset the effective shutdown of the Strait of Hormuz, a 21-mile-wide throat of water that connects the Persian Gulf to the Red Sea off the Iranian coast.
Post
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The global employment landscape continues to undergo profound disruption as companies across industries adapt to economic pressure, technological transformation, and shifting consumer behavior.
Post
SPOTLIGHT: BIGS GETTING BIGGER
Spanish bank Banco Santander has agreed to pay about $12.3 billion in cash and stock to take over Webster Financial, a Connecticut bank with roughly $80 billion in assets and 177 branches throughout the New York City region and in Massachusetts and Rhode Island.
Post
TOP TREND 2024: EV GO FU
Stellantis – the Amsterdam-based conglomerate that owns Chrysler, Dodge, Jeep, Maserati, Ram, and 11 other passenger vehicle brands – is writing down the value of its electric vehicle (EV) operations by €22.2 billion for 2025, or about $26.5 billion as its transition to electric mobility has stalled out.
Post
KPMG WANGLES DISCOUNT ON ITS AUDIT, CLAIMING AI CUT THE COST
International business services giant KPMG negotiated a lower fee for its annual audit, arguing that the auditor used artificial intelligence and therefore faced less expense in carrying out the complex task, people familiar told the Financial Times.
Post
THE LUXURY INDUSTRY’S KEY MARKET RETURNS, SORT OF
Chinese customers are once again shopping in the country’s luxury boutiques, but they are fewer in number and spending less, The Wall Street Journal discovered.
Post
GOING OUT OF BUSINESS TRENDS
Closures continue to hit the retail and restaurant industry due to rising costs and declining demand.
Post
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Layoffs in January were the highest to start a year since 2009, according to outplacement firm Challenger, Gray and Christmas.