The economic fallout from years of inflation, high borrowing costs, shifting consumer behavior, and mounting operational expenses continues to claim business across a wide range of industries.
Tag: Economy
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As employers seek greater efficiency through automation, artificial intelligence, restructuring, and outsourcing, consumers and businesses alike are pulling back spending.
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GOING OUT OF BUSINESS TRENDS
The economic fallout from years of inflation, high borrowing costs, shifting consumer behavior, and mounting operational expenses continues to claim business across a wide range of industries.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The wave of job cuts continues to spread across industries, underscoring the growing economic uncertainty facing businesses worldwide.
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SPOTLIGHT: THE AI JOBS WIPEOUT CONTINUES
In April, Meta’s C-suite notified company employees that about 8,000 of them – about 10 percent of the company’s payroll – would lose their jobs on 20 May. Last week, Meta fulfilled that promise.
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USE OF CHINA’S CURRENCY SETS RECORD IN GLOBAL TRADE
In March, the average daily value of cross-border transactions conducted in China’s renminbi currency rose to a record, the equivalent of $135.7 billion, Chinese state media said.
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U.K. SIGNS “MONUMENTAL” TRADE PACT WITH PERSIAN GULF STATES
The U.K. and the Gulf Cooperation Council (GCC) have negotiated a trade agreement that will be “monumental” in its benefits to both parties, Abdulla bin Adel Fakhro, Bahrain’s minister of industry and commerce, said to CNBC.
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SPOTLIGHT: THE IRAN WAR’S ECONOMIC FALLOUT
The Iran War will reduce real labor income by 1.1 percent this year and 3 percent in 2027, which is equivalent to abolishing 14 million jobs this year and 43 million next year, the United Nations’ International Labor Organization (ILO) is forecasting.
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GOING OUT OF BUSINESS TRENDS
The economy is seeing a widening wave of closures, bankruptcies, and downsizing as companies respond to soft demand and tightening margins.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Jobless claims remain low and unemployment is holding near 4.3 percent but companies aren’t hiring and layoffs tied to AI restructuring and cost cutting are increasing, according to U.S. News and World Report.