Fortescue, an Australian energy and metals corporation, has abandoned its commitment to produce 15 tons of “green hydrogen” annually for the ammonia industry by 2030. Founder and executive board chair Andrew Forrest has realized the goal is unrealistic, people familiar told the Financial Times.
Canadians spent $66.1 billion in May, 0.8 percent less in dollar terms than in April when retail spending rose 0.6 percent. The volume of goods and services bought fell by 0.7 percent.
On 16 July, German high-fashion clothier Hugo Boss saw its share price dive as much as 10 percent after it trimmed its 2024 sales forecast from €4.5 billion to €4.35 billion.
On 18 July, the governing council of the European Central Bank (ECB) met and left its key interest rate at 3.75 percent, as analysts expected.
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…
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
“Global net wealth staged a significant recovery in 2023, growing by 4.3% after a difficult year in 2022,” according to the annual Global Wealth Report prepared by the Boston Consulting Group.
We have previously reported on the sudden surge in electricity demand among the data centers where artificial intelligence (AI) requests are processed. The trend will have far-reaching impacts on U.S. economic development, energy use, climate considerations, and regulatory structures. We will continue to follow these developments.
In the four weeks ending 7 July, Russia shipped 3.27 million barrels of crude oil, the least since it invaded Ukraine in February 2022.
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…