Beijing will issue three trillion yuan—about $411 billion—in treasury bonds this year, with the proceeds directed to spark consumer spending, speed technological innovation, and recapitalize government-owned banks, Reuters reported.
Tag: Economy
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CANADIAN BUSINESS BANKRUPTCIES SET THIRD-QUARTER RECORD
In last year’s third quarter, 1,312 Canadian businesses went bust, the most in any year’s third quarter, the Financial Post reported.
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VOLKSWAGEN, UNIONS REACH COMPROMISE TO KEEP PLANTS OPEN
After Volkswagen threatened to close as many as three German plants and dump “tens of thousands” of workers, the company and Germany’s largest union worked through 70 hours of dickering and produced a deal that promises to maintain an uneasy labor peace in the short term.
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EUROPE’S AUTO INDUSTRY SUPPLY CHAIN IS BLEEDING JOBS
Job losses doubled in 2024 to more than 30,000 among European companies supplying automakers with parts and components, data from the European Association of Automotive Suppliers shows.
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TOP TREND 2025: THE TRUMP CARD
Incoming U.S. president Donald Trump’s promise to pile stiff tariffs on all goods imported into the U.S. will, if carried out, crimp the world’s economic growth, according to a large majority of the more than 220 economists in the Eurozone, U.K., and U.S. surveyed by the Financial Times.
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TOP TREND 2025: DRAGFLATION
Britain’s economy failed to grow in 2024’s third quarter, the Office of National Statistics (ONS) has estimated, and the Bank of England projects that the GDP remained flat in the year’s final three months.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity giant Blackstone is hoping to raise $5 billion to invest in life science ventures, according to a proposal the firm sent to the Teachers Retirement System of Louisiana that was seen by The Wall Street Journal.
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SPOTLIGHT: CHINA’S SHIFTING ECONOMIC POLICIES
At China’s Central Economic Work Conference last week, officials indicated Beijing will cut interest rates, raise its budget deficit, and lower banks’ reserve requirements next year to make more room for economic stimulus.
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GM PARKS ITS ROBOTAXI PROGRAM
After 10 years and $10 billion in costs, General Motors has abandoned its plan to create a self-driving taxi, saying the costs would continue mounting as competition becomes more intense.
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CHINESE CAR COMPANIES ARE OPENING DEALERSHIPS ACROSS MEXICO
Chinese electric vehicle (EV) makers, including majors BYD, Chery, Geely, and SAIC, are establishing dealerships across Mexico and, according to one Mexico City BYD salesman, the cars are selling as fast as he can get them.