In the second quarter of this year, Canadian business starts fell by more than 49 percent compared to a year earlier and compared to the same quarter in 2019, according to the Equifax credit reporting agency.
Tag: Economy
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GERMANY ROLLS OUT €200 BILLION IN ENERGY SUBSIDIES
Germany’s government will provide a €200-billion “shield” for businesses and low-income households grappling with relentlessly rising energy bills, the government announced last week.
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REFINANCING DEBT COULD ADD $1 TRILLION TO COSTS
Emerging nations and wobbly corporations needing to refinance debt will need to pay interest an average of 1.56 percentage points higher than the current rate for the same securities—a total of $1.01 billion extra, according to Bloomberg’s analysis of bonds owed by current public-and private-sector debtors.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
Dragflation: Economic growth declining and inflation rising... plus the pressure of interest rate hikes that are drying up the cheap money pool are causing companies in many sectors to lay off employees.
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U.S. MORTGAGE RATES HIGHEST IN 15 YEARS
Last week, U.S. mortgage interest rates rose to their highest levels since July 2007 during the Great Recession.
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MAJOR STORES LOCK MERCHANDISE AS THEFTS SKYROCKET, FURTHER CEMENTING OUR FORECAST
You would need to be living under a rock if you are unfamiliar with videos showing people with guns robbing stores, groups of brazen shoplifters entering supermarkets and high end retail outlets exiting with designer bags, Apple computers, jewelry, robbing people in the streets, stealing their cars, etc.
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INFLATION IN EUROPE REACHES DOUBLE DIGITS
Inflation across the 19-country Eurozone reached 10 percent last month, it’s 11th consecutive month of increases and the first to reach double digits.
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KEY INFLATION GAUGE COMES IN HIGHER THAN EXPECTED
Despite the Federal Reserve raising interest rates five times this past year, inflation continues to be much higher than the central bank’s 2 percent target. The Personal Consumption Expenditures inflation measure, which was released Friday, showed the index rose last month by 6.2 percent from a year ago, which was slightly down from 6.4 percent...
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MORTGAGES IN U.S. HIT HIGHEST LEVEL SINCE THE 2008 FINANCIAL CRISIS
The average mortgage rate on a 30-year fixed mortgage hit 6.7 percent, according to a survey released Thursday by the mortgage giant Freddie Mac. “The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” a statement read. “Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has...