The economic slowdown continues to leave its mark on Main Street and corporate America alike.
Tag: Global Economy
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The layoff machine keeps rolling from banking and technology to healthcare, media, automotive manufacturing, education, and local government as companies slash costs, automate operations, and brace for an increasingly uncertain future.
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SPOTLIGHT: BIGS GETTING BIGGER
U.S. private equity giant Blackstone is buying HSBC bank’s Australian portfolio of home and personal loans.
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HERMÈS SHARE PRICE DROPS DESPITE POSITIVE SECOND QUARTER
The share price of luxury firm Hermès plopped down 10 percent on 28 July even though the company reported a modest rebound in sales during this year’s second quarter.
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SHELL OIL REPORTS SECOND-BEST QUARTER EVER
British energy giant Shell Oil posted $9.8 billion in adjusted earnings in the second quarter, beating analysts’ forecast of $8.9 billion and more than doubling the $4.3 billion from a year earlier.
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MERCEDES TRIMS 2026 REVENUE FORECAST
Mercedes-Benz lowered its 2026 revenue forecast last week, saying revenues would come in “slightly” below last year’s figure of €132.2 billion. Earlier, the company had forecasted this year’s revenue would be about the same as last.
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CHINESE STUDENTS FLOCK TO PUBLIC-SECTOR JOBS
Despite China’s world-class tech economy, more high-school graduates are choosing to pursue careers in the military, police, or other public service agencies.
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EUROZONE SQUEEZES OUT 0.4-PERCENT SECOND-QUARTER GROWTH
In this year’s second quarter, the economy of the 21-member Eurozone eked out 0.4-percent growth despite the Iran War’s energy price shock.
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SPOTLIGHT: CHINA’S ECONOMY ADVANCES AROUND THE WORLD
China’s world domination in electric vehicles technology and AI production has grabbed headlines, but China also has far outpaced competing nations in clean energy.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity giants Blackstone, Brookfield Asset Management, and KKR together are paying $16 billion to share a 49-percent stake in a joint venture involving all of Kuwait’s oil pipelines.