NextEra Energy, North America’s largest electric power and energy infrastructure company, is buying Dominion Energy in an all-stock deal valued at $66.8 billion.
Tag: Global Economy
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LVMH WILL SELL HANDBAG MAKER MARC JACOBS FOR $850 MILLION
LVMH, the luxury industry’s largest conglomerate, will sell handbag brand Marc Jacobs to a partnership between global brand manager WHP and G-III Apparel Group, which owns an array of fashion brands including Calvin Klein, DKNY, Donna Karen, and Tommy Hilfiger.
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HONDA POSTS FIRST-EVER ANNUAL LOSS AS EV INVESTMENT SOURS
On 14 May, Honda Motor – Japan’s second-largest auto company – posted its first annual loss since it went public in 1957 as it wrote off more than $9 billion in costs to restructure its electric vehicle (EV) operation.
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FORD, STELLANTIS EXPAND CHINESE PARTNERSHIPS IN EUROPE
Stellantis, the Dutch conglomerate that owns Fiat, Jeep, Ram, and 11 other car brands, is broadening its partnership with Chinese EV maker Leapmotor.
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TURKEY’S CENTRAL BANK HIKES ITS INFLATION TARGET
Last week, the Central Bank of the Republic of Türkiye raised its target interest rate from 16 percent to 24 percent – a 50-percent increase – in an acknowledgment that the Iran War is spiking prices throughout the country’s economy.
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CHINA’S ECONOMY BOGS DOWN IN APRIL
The domestic sector of China’s economy slowed in April, with several missing economists’ expected levels.
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INVESTORS DUMP BONDS AS OIL PRICES CLIMB
Investors around the world are fleeing bonds, fearing that central banks will be forced to raise their interest rates to tamp down rising inflation that soaring oil prices have already set in motion, Bloomberg reported.
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SPECIAL REPORT: IRAN WAR DISRUPTS WORLD’S OIL SUPPLY
As we have detailed since the Iran War was illegally launched by the United States and Israel on 28 February, the war has inflicted severe socioeconomic and geopolitical damage across the globe.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Hiring is slowing, wage growth is losing ground to inflation, and layoffs are quietly expanding across more industries.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As AI continues to take over human jobs, Open AI CEO Sam Altman, said that although AI isn’t the cause of all layoffs, it has been responsible for displacing human workers, according to CNBC-TV18.