On 30 October, Europe’s tariffs on electric vehicles (EVs) made in China took effect. The cars carry retail prices well below those of EVs made in Europe.
Tag: Economy
Post
MAERSK PROFITS RISE ON RED SEA TURMOIL
AP Moller-Maersk, which operates the world’s second-largest fleet of cargo ships, reported third-quarter profits shot from $521 million a year ago to $3.05 billion this year on the strength of continued conflict in the Red Sea.
Post
SOUTH AFRICA CUTS GROWTH TARGET
Last week, Africa’s most industrialized nation cut its fiscal 2025 growth outlook from 1.3 percent to 1.1 percent “in a sign of enormous [economic] pain” the country has suffered “after a dismal decade,” the Financial Times said.
Post
EUROZONE INFLATION RISES TO 2 PERCENT IN OCTOBER
After falling to 1.7 percent in September, inflation in the Eurozone bounced back to 2 percent last month, edging above analysts’ forecasts of a 1.9-percent pace.
Post
EUROZONE GROWTH ACCELERATES IN THIRD QUARTER
The collective economy of the 20 countries sharing the euro currency grew 0.4 percent in the third quarter, twice the speed of the 0.2-percent gain in the second quarter, according to official data.
Post
GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
Post
WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The retail, restaurant, manufacturing, automotive and tech industries continue to be hit hard as prices increase and demand slows.
Post
SPOTLIGHT: BIGS GETTING BIGGER
Private equity firm KKR is paying $3.17 billion for 25 percent of Enilive, a biorefining subsidiary of Eni, the Italian national energy company.
Post
SPOTLIGHT ON CHINA’S ECONOMIC STRUGGLE: LOCAL GOVERNMENT DEBT MARKET SEES RECORD DEFAULT LEVEL
In 2023, local governments floundered in debt and Beijing swooped in with $309 billion in new bonds to pay back those debts. The central government also ordered state-owned banks to lend even more money to those failing municipalities.
Post
SPOTLIGHT: THE LUXURY INDUSTRY’S VERY BAD YEAR
Cosmetics powerhouse L’Oréal announced third-quarter sales growth of 3.4 percent, a far miss from analysts’ expectations of a 6-percent gain.