Britain’s high energy prices are not only driving manufacturing jobs abroad but also risk the loss of key industries, a union and a manufacturing trade group warned last week.
Tag: Global Economy
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JAPAN’S YEN HOVERS NEAR 40-YEAR LOW AGAINST THE DOLLAR
The U.S. dollar’s value rose on the signing of the Iran War’s ceasefire last week, dropping the Japanese yen within a fraction of its lowest value since 1986.
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GLOBAL RECOVERY FROM IRAN WAR WILL BE LONG
Even though the Strait of Hormuz has reopened – at least for now – normal flows of oil, gas, and other products from Gulf nations will take months to return to pre-war volumes, economists and experts told The Wall Street Journal.
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SPOTLIGHT: BIGS GETTING BIGGER
Elon Musk’s SpaceX is trading $60 billion worth of its stock for the ownership of Anysphere, the company that operates Cursor, a popular AI coding agent.
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SPOTLIGHT: ASSESSING THE OIL SHOCK’S IMPACT
Asia is the region most dependent on oil and natural gas that transits the Strait of Hormuz.
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AI THREATENS BUSINESS SERVICE FIRMS, ASSET MANAGERS WARN
Accounting and law firms are among the most likely to be hurt as AI pervades professional services, private equity executives warned in recent interviews with the Financial Times.
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GOING OUT OF BUSINESS TRENDS
The wave of business failures and closures continues to accelerate, cutting across retail, restaurants, manufacturing, nonprofits, and even healthcare due to rising costs and weakening demand.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Layoffs continue to hit major sectors of the economy, from Wall Street to Silicon Valley to manufacturing and public services.
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SPOTLIGHT: CHINA’S TWO DIVERGING ECONOMIES
Beijing continues to believe that an industrial machine turning out “new productive forces” such as AI equipment, biotech machines, EVs, and solar panels will bring the domestic economy back to life.
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EUROZONE’S FACTORY SECTOR SLOWED IN MAY
The Eurozone’s manufacturing activity continued growing in May but at a slower pace than in the previous month, S&P reported, as the Iran War’s supply chain crash drove input costs to their highest since 2022.