Argentina’s factory output dove 21.2 percent in March, year on year, far more than the 13.5 percent economists had expected. In a survey, 73 percent of manufacturers said they are laying off workers this quarter.
Tag: Global Economy
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NEWS CORP REVENUES AND PROFITS DROP WHILE NEW YORK TIMES GAINS
Rupert Murdoch’s News Corp, which owns The Wall Street Journal, book publisher HarperCollins, the Fox broadcasting network, and a string of newspapers and magazines around the world, said revenue slipped 1 percent in this year’s first quarter, while net profit plummeted 40 percent.
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SWEDEN’S CENTRAL BANK MAKES FIRST RATE CUT IN EIGHT YEARS
Sweden’s Riksbank shaved a quarter of a percentage point from its key interest rate last week, dropping the rate to 3.75 percent.
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AUSTRALIA’S CENTRAL BANK WILL KEEP INTEREST RATES HIGH
In February, the Royal Bank of Australia (RBI) noted “encouraging signs” that inflation was waning and hinted at an interest rate cut by the end of this year.
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GLOBAL DEBT SETS NEW RECORD AT $315 TRILLION
In this year’s first quarter, nations took on another $1.3 trillion in debt, pushing the worldwide total to $315 trillion, the Institute of International Finance (IIF) reported.
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GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
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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. Electric vehicle makers continue to announce job cuts as demand slows in line with one of our Top Trends of 2024: EV GO FU. Tesla announced 316 layoffs at its Buffalo, N.Y. facility and......
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CANADA CENTRAL BANK RATE CUTS LIMITED BY FED, BANK CHIEF SAYS
The Royal Bank of Canada (RBC) is planning to cut its interest rates in the near future to energize the country’s economy.
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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.
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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.