Cash-strapped European governments have raised taxes on wages to their highest rates in almost 10 years to collect quick money to fund business and household aid programs, as soaring energy bills squeeze consumer, business, and national budgets.
Tag: Global Economy
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U.K. CONSUMER CONFIDENCE TANKS IN APRIL
Confidence in the U.K.’s economic prospects among British households fell four points last month to -25 in a survey by global research firm GfK.
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BRITAIN’S ECONOMIC OUTPUT JUMPS TO GET AHEAD OF WAR’S IMPACT
After a brief slump at the onset of the Iran War, the U.K.’s private sector has rebounded, according to S&P Global’s purchasing managers index (PMI) for April.
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COMPANIES SURGE PRODUCTION TO BEAT SUPPLY CHAIN DISRUPTIONS
Factory output in Britain, France, India, and Japan rose in March, according to Standard & Poor’s purchasing managers' indexes, even as the Iran War raged.
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GLOBAL CURRENCIES RISE IN VALUE AS U.S. DOLLAR SLIDES
The U.S. dollar’s value rose early in the Iran War as investors sought safety and saw the U.S. as somewhat insulated from the war’s global economic damage.
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SPOTLIGHT: BIGS GETTING BIGGER
Elon Musk’s Space Exploration Technologies, known informally as SpaceX, has paid $60 billion for the right to buy AI coding startup Cursor at a future time.
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SPOTLIGHT: CLEAN ENERGY IS BACK IN FOCUS
In 2025, renewable energy systems generated more electricity than coal-fired generating stations, research organization Ember reported.
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SPOTLIGHT: PRIVATE CREDIT’S MISERY
With the markets focused on the geopolitical and socioeconomic effects of the Iran War, it has been forgotten that the equity markets were in decline before the Iran War was launched by the U.S. and Israel on 28 February.
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STELLANTIS TARGETS FOUR EUROPEAN FACTORIES FOR CHINA DEAL
Stellantis, the Dutch auto conglomerate that owns Alfa Romeo, Dodge, Jeep, Ram and 10 other vehicle brands, has chosen four European factories that it may sell to Chinese EV makers or use in partnerships with them.
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DOLLAR STABLECOINS THREATEN EMERGING NATIONS, BIS CHIEF WARNS
Stablecoins denominated in U.S. dollars are increasingly being used as the medium of exchange in international trade – a shift that risks the “dollarization” of emerging economies, weakens their ability to control their money flows, and leaves them vulnerable to criminal activity, Pierre Hernandex de Cos, general manager of the Bank for International Settlements (BIS), said in a 20 April speech.