“We have a huge fiscal problem everywhere,” Tim Adams, CEO of the International Institute for Finance (IIF), said in a CNBC interview at the World Economic Forum earlier this month.
Tag: Global Economy
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…
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.
GLOBAL CORPORATE DEFAULTS SPIKE FIVEFOLD
Last November, four corporations monitored by Moody’s Analytics defaulted on their debts. That number jumped to 20 in December, a fivefold increase.
BURBERRY CUTS 2O24 GUIDANCE
The British firm Burberry became the latest purveyor of luxury goods to cut its 2024 outlook. It did so after a disappointing holiday sales season.
SAUDI ARABIA CUTS OIL PRICES FOR FEBRUARY
Saudi Arabia has cut its oil price for February, a month traditionally slow in demand, as the world enters a supply glut due to strong production in the U.S. and a worldwide economic slowdown.
ARGENTINA’S INFLATION PASSES 211 PERCENT AS MILEI ENACTS TOUGH MEASURES
Argentina’s 2023 inflation rate was 211.4 percent, Bloomberg reported, beating Venezuela’s 193 percent for the year’s worst price spike.
EUROZONE’S ECONOMY SHRANK IN FOURTH QUARTER, ECB OFFICIAL SAYS
The Eurozone’s economy probably contracted again in 2023’s fourth quarter after shrinking in the third, Luis de Guindos, vice-president of the European Central Bank (ECB), said in a 10 January speech.
GERMANY’S FACTORY OUTPUT FALLS FOR A SIXTH CONSECUTIVE MONTH
In November, Germany’s industrial production edged down 0.7 percent from October, a month in which output fell 0.3 percent from September.
AFRICA WILL LEAD ECONOMIC GROWTH IN 2024, IMF SAYS
Among the world’s ten fastest-growing economies this year, six will be in sub-Saharan Africa, the International Monetary Fund said in a report last week.