The troubled New York Community Bancorp (NYCB) reported a $323-million loss in the year’s second quarter. During the same period in 2023, it turned a profit of $400 million.
Tag: Global Economy
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SPOTLIGHT: HARD TIMES IN HIGH FASHION. THIS TREND, IS NOT YOUR “FRIEND”
As we have long noted, the decline in luxury sales is an important trend indicator. As the old saying goes: “The Fish Rots from the Head Down,” and we are providing the facts in this SPOTLIGHT, to illustrate the economic danger ahead.
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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: A HARD ROAD FOR AUTO COMPANIES
From March of 2020, to March of this year, the average price of a new car spiked nearly 30 percent while the average price of a used car jumped 34 percent.
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SPOTLIGHT: BELLWETHER RETAILERS SIGNAL A CONSUMER SLUMP
We maintain our forecast for slower growth for the U.S. GDP through the rest of this year. Second-quarter results from three businesses in key consumer sectors, as we note with this SPOTLIGHT, offering evidence this forecast is correct.
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BANK OF CANADA CUTS INTEREST RATE AGAIN
After cutting its key interest rate by a quarter point in June, the Bank of Canada did so again this month, bringing the rate to 4.5 percent
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CHINA’S CENTRAL BANK MAKES SURPRISE INTEREST RATE CUT
On 25 July, the People’s Bank of China lowered its interest rate on one-year loans to commercial banks from 2.5 percent to 2.3 percent. Though small, it was the largest reduction in that rate since April 2020.
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EUROZONE ECONOMY STAGNATES IN JULY
The 20-nation Eurozone’s economy “barely moved in July” as growth in services slowed markedly and manufacturing continued to contract, especially in Germany, S&P Global reported.
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PLANTATION WORKERS OF SLAVELANDIA GOT POORER WHILE WORLD’S 1 PERCENT GOT $42 TRILLION RICHER
In the past 10 years, the world’s wealthiest one percent of individuals saw their wealth grow by $42 trillion, 34 times more than the poorest 50 percent of the global population, according to a study by Oxfam, a global nonprofit working to eliminate poverty.