Worldwide gold purchases totaled 1,258 tons in this year’s second quarter, 4 percent more than a year earlier and the most in any three-month period since 2000 when the World Gold Council (WGC) began tracking sales.
Tag: Global Economy
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L’OREAL GROWTH SLOWS ON CHINA SLUMP
China’s staggering economy bogged down another luxury house in the year’s second quarter, with make-up and skincare conglomerate L’Oreal reporting a 2.4-percent sales slump in its Asia region that includes China.
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TOYOTA, VOLKSWAGEN REPORT IMPROVED FINANCIALS
The weak yen and robust sales of gas-electric hybrid vehicles increased Toyota’s net profit by 1.7 percent to ¥1.33 trillion year on year, equivalent to about $8.89 billion, during its fiscal first quarter, the company said.
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BRITISH SHOPPERS ARE NOT SHOPPING
During the four weeks ending 27 July, foot traffic in U.K.’s retail storefronts was 3.3 percent less than a year earlier and 2.3 percent less than in June, the British Retail Consortium (BRC) reported.
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BANK OF ENGLAND CUTS RATE A QUARTER POINT
On 1 August, the Bank of England’s (BoE’s) rate-setting committee shaved a quarter point from its policy rate by a 5-to-4 vote. The cut takes the rate from 5.25 percent, a 16-year high where it has remained since last August, to 5 percent now.
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EUROZONE INFLATION TICKS UP IN JULY
Last month, inflation in the 20-country Eurozone edged up to 2.6 percent after falling to 2.5 percent in June.
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CHINA’S WEAK ECONOMY TANKS COMMODITIES MARKET
Persistent weak demand in China and an abundance of supplies have driven many investors and speculators out of the commodities market, dumping about $41 billion in long positions on the way out.
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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. Some of the most significant challenges include soaring inflation rates, escalating interest rates, increased minimum wage, looming fears of a recession, and a tangible decrease in revenues for many sectors…
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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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SPOTLIGHT: TOP TREND 2024, EV GO FU
General Motors will delay introducing a new Buick electric vehicle (EV) and the opening of an electric truck factory, CEO Mary Barra said in a call with analysts last week.