The Royal Bank of Canada (RBC) is planning to cut its interest rates in the near future to energize the country’s economy.
Tag: Global Economy
BUSINESS BANKRUPTCIES SOAR IN CANADA
In this year’s first quarter, Canada’s business bankruptcies shot up 87.2 percent, year on year, to 1,599, according to data from the government’s Office of the Superintendent of Bankruptcy. Household bankruptcies rose 14 percent.
BRITISH OFFICIALS AT ODDS OVER PRIVATE EQUITY’S RISK TO THE ECONOMY
The Bank of England (BoE) has escalated its warnings that private equity firms pose a systemic risk to the U.K. economy through their leverage, valuations, and lack of public disclosure of their data.
HUGO BOSS PROFIT UP AS COST CUTTING RISES
German luxury clothier Hugo Boss reported a first-quarter net profit of €38 million, beating analysts’ expectation of €36 million. Gross profit rose 5 percent and operating profit by 6 percent, year on year.
MAERSK POSTS LOWER PROFITS
Shipping giant AP Moeller-Maersk reported a sharp drop in first-quarter profits due to continued attacks on freighters in and near the Red Sea by Yemen’s Houthi militants in support of terror group Hamas in its war with Israel.
EUROPE’S CARMAKERS REPORT FALLING SALES, REVENUE, AND PROFITS
Stellantis, the conglomerate that owns Alfa Romeo, Dodge RAM, Fiat, and Peugeot, among other vehicle brands, posted first-quarter revenue below expectations after its sales shrank across Europe.
EUROZONE BUSINESS ACTIVITY GROWS FASTEST IN 11 MONTHS
In April, a robust services sector more than outweighed a deepening slump in manufacturing to power the Eurozone’s economy to its strongest monthly growth since May 2023.
IMMIGRATION IS DRIVING GROWTH IN RICH COUNTRIES
“Exceptionally large” numbers of immigrants last year entering into Australia, Canada, Spain, the U.K., and the U.S. “definitely” helped ease labor shortages and grow GDPs, the Organization for Economic Cooperation and Development (OECD) said in a study released last week.
STRONG DOLLAR POSES DANGER TO GLOBAL ECONOMY
As the U.S. Federal Reserve keeps its interest rates near a 20-year high to combat persistent inflation, the dollar continues to sap value from other currencies and creates a danger for the global economy, The New York Times reported.
GOING OUT OF BUSINESS TRENDS
In recent times, 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, looming fears of a recession, and a tangible decrease in revenues for many sectors…