The European Commission (EC) has received enough support from member nations to lay tariffs as high as 45 percent on electric vehicles (EVs) coming from China through 2029, the body announced.
Tag: Economy
SPECIAL REPORT: AUTO INDUSTRY HITS THE SKIDS
Slowing auto sales and reduced profit outlooks from major European carmakers may indicate a longer-term trough for the industry, analysts told the Financial Times.
SPOTLIGHT: BIGS GETTING BIGGER
This year through September, $2.3 trillion worth of mergers and acquisitions were announced, growing the value of this year’s deals 17 percent above that of the same period in 2023, data service LSEG reported.
SPOTLIGHT: CHINA’S GOVERNMENT STEPS UP
The Politburo, China’s inner circle of leaders, met last week in a rare September session and pledged to “issue and use” bonded government debt to fuel “the driving role of government investment” to revive the country’s staggering economy.
TOP TREND 2023, OFFICE BUILDING BUST: OFFICE TOWERS FALLING
American Equity Partners (AEP) bought 1 Tower Center, a 24-story office block, in 2019 for $38 million—a good deal at the time but a higher price than many similar buildings fetch now.
WILL BEIJING NEW STIMULUS MEASURES JOLT CHINA’S ECONOMY?
On 24 September, the People’s Bank of China (PBC) announced its most dramatic stimulus since the COVID lockdowns in an attempt to revive China’s torpid economy and restore confidence after months of disappointing economic results.
EUROPEANS ARE BUYING FEWER CARS
In August, the European Union saw an 18-percent drop in registrations for new cars, year on year, reflecting weak demand not only for electric vehicles but also for new cars in general.
WILL RUSSIA’S OIL REVENUE DECLINE STEADILY THROUGH 2027?
Russia’s government projects oil revenues declining 14 percent from now through 2027, according to a draft Kremlin budget obtained by Bloomberg.
WILL THE FED’S RATE CUT BE A GREEN LIGHT FOR OTHER CENTRAL BANKS?
Central banks in Canada, the Eurozone, Norway, Sweden, Switzerland, and the U.K. cut their interest rates before the U.S. Federal Reserve did.
GERMANY AND U.K., ECONOMIC BLUES
In Germany, the highly-regarded ZEW Indicator of Economic Sentiment plunged from 19.2 in August to 3.6 in September. Analysts had expected a reading of 15.5.