On 27 November, the Russian and Saudi oil ministers held talks with their counterpart in Kazakhstan, which has consistently produced more oil than its agreed-upon amounts and thereby angered the group’s other members.
Tag: Economy
INDIA’S ECONOMY SLOWS UNEXPECTEDLY IN FISCAL SECOND QUARTER
In July through September, India’s economy expanded at an annual rate of 5.4 percent, its smallest growth rate in seven quarters.
EUROZONE INFLATION TICKS UP AS PRESSURES REMAIN
Inflation across the 20-country Eurozone rose from 2.0 percent in October to 2.3 percent in November, a change that economists had expected as winter weather and the holiday shopping season boosted demand and prices for related goods.
GERMANS CUT SPENDING AS ECONOMY WEAKENS, SURVEY FINDS
Germans are continuing to lose confidence in their economic future, a new survey found.
SPOTLIGHT: BIGS GETTING BIGGER
The Blackstone private equity firm has gobbled down a majority interest in the Jersey Mike’s sub sandwich chain.
SPOTLIGHT: HARD TIMES FOR CONSUMER-FACING COMPANIES
Nestlé has pared back its medium-term profit outlook and launched a cost-cutting campaign as part of new CEO Laurent Freixe’s turnaround program for the world’s biggest processed foods maker.
SPOTLIGHT: BIGS GETTING BIGGER
Private equity firms Shore Capital Partners and Silver Lake Technology Management have partnered to create an entity that has bought and merged two chains of veterinary clinics.
SPOTLIGHT ON CHINA’S ECONOMIC STRUGGLE: CHINA’S DOMESTIC ECONOMY PERKED UP IN OCTOBER
In October, China’s retail sales grew by 4.8 percent, their sharpest monthly increase since February, figures reported by the National Bureau of Statistics showed.
LUXURY COMPANIES MISS FINANCIAL TARGETS
The personal luxury goods industry lost 50 million customers this year, according to a new report by consulting firm Bain & Co. and Italian luxury trade group Altagamma.
SPOTLIGHT: CONSUMER PRODUCT COMPANIES ARE STILL TAKING A BEATING
BMW, Honda, and Toyota reported sharp drops in third-quarter profits and cited the continuing weakness in China’s passenger vehicle market as the cause.