Swedish vehicle maker Volvo has delayed building a new battery plant in its home country to power its heavy-duty electric trucks.
Tag: Global Economy
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IEA CUTS OIL DEMAND FORECAST AGAIN ON CHINA’S WEAKNESS
For the second time in two months, the International Energy Agency (IEA) has reduced its 2024 oil demand outlook, once again citing China’s “rapidly slowing” oil usage.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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RUSSIA’S CENTRAL BANK RAISES INTEREST RATE AGAIN
For the second time in as many meetings, the Bank of Russia’s governing committee raised the bank’s key interest rate, adding a full percentage point and lifting the rate to 19 percent.
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ECB CUTS KEY INTEREST RATE BY QUARTER POINT
On 13 September, the European Central Bank (ECB) shaved a quarter point from its policy interest rate, cutting it to 3.5 percent as inflation slowed to 2.2 percent and indicators showed the Eurozone’s economy staggering.
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INVEST HEAVILY OR LIVING STANDARD WILL CRUMBLE, EUROPE TOLD
To maintain the living standards its residents desire and compete with China and the U.S., the European Union must invest €750 billion to €800bn billion a year.
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REGULATORS CAVE TO BANKS’ PRESSURE, WEAKEN PROPOSED NEW RULES
After the collapse of Signature and Silicon Valley banks in March 2023, Michael Barr, vice-chair of the U.S. Federal Reserve, proposed stringent new rules requiring American banks to keep more capital on hand.
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TURKEY’S ECONOMIC SLOWS MOST IN FOUR YEARS
In this year’s second quarter, Turkey’s economy grew by 2.5 percent, the slowest since the same quarter in 2020, the country’s statistical institute reported.
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BANK OF CANADA CUTS INTEREST RATE A THIRD TIME
The Bank of Canada has cut its key interest rate for a third time in as many meetings, dropping it by a quarter point to 4.25 percent.