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
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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.
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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.
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GERMANS CUT SPENDING AS ECONOMY WEAKENS, SURVEY FINDS
Germans are continuing to lose confidence in their economic future, a new survey found.
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SPOTLIGHT: BIGS GETTING BIGGER
The Blackstone private equity firm has gobbled down a majority interest in the Jersey Mike’s sub sandwich chain.
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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.
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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.
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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.
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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.
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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.