Sweden said it is prepared to dramatically increase its domestic nuclear energy production and expressed hope for France, Europe’s top producer, for help to achieve its goals.
Tag: Economy
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INFLATION SLOWS IN EUROPE AS ENERGY PRICES FALL
Inflation in France eased to 6.7 percent in December, down from 7.1 in November, because prices for oil and gas fell, as we detail in “Oil and Gas Prices Fall in U.S., Europe” in this issue.
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ASIAN FACTORY OUTPUT SHRINKS UNDER SLUGGISH GLOBAL DEMAND
In December, the S&P Global Market Intelligence purchasing managers index (PMI) for manufacturing in Vietnam slipped to 46.4 from 47.4 in November, its lowest rating since September 2021.
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WORLD FOOD PRICES SET RECORD IN 2022
The UN Food and Agriculture Organization’s (FAO’s) food price index, which tracks costs of the world’s most common commodity foods, jumped 14.3 percent last year to bring food prices to their highest on record.
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SPOTLIGHT: BIGS GETTING BIGGER
U.S. biotech giant Amgen has bought Horizon Therapeutics, a maker of drugs that treat rare autoimmune and inflammatory illnesses, for $28.3 billion, Amgen’s priciest purchase to date.
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SPOTLIGHT: INTEREST RATES RISING AROUND THE WORLD
The U.S. Federal Reserve raised its key federal funds interest rate by a half-point last week, meeting our prediction and analysts’ expectations and lifting the rate to between 4.25 and 4.5 percent, its highest since December 2007.
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SPOTLIGHT ON CHINA
In November, retail sales in China fell 5.9 percent year over year as anti-COVID lockdowns persisted, industrial production shrank when orders from foreign buyers dwindled, and business investment slowed.
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TURKEY: ERDOGAN’S “NEW ECONOMIC MODEL” WORKS – SORT OF
As inflation crashed Turkey’s economy over the past year and shredded the value of its lira currency, president Recep Erdogan insisted the country was pioneering a “new economic model” in which rock-bottom interest rates and a near-worthless currency would create an economic boom driven by exports.
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TOP TREND, NEW WORLD DISORDER: BRITAIN’S CRISIS
The way the mainstream media reported Britain’s consumer prices rising 10.7 percent year over year in November, down slightly from the 11.1 percent pace in October, which set a 41-year record... It was good news that inflation was easing!