The administration of British Prime Minister Keir Starmer will levy an additional £26 billion (about $34 billion) in taxes by 2030, chief financial officer Rachel Reeves announced last week.
Tag: Global Economy
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FIXED-ASSET INVESTMENT FALLS SHARPLY IN CHINA
Chinese President Xi Jinping’s mandate to reduce factories’ overcapacity and cutthroat competition in the country’s industrial sector seems to have had an impact: investment in fixed assets such as factory machinery dropped 1.7 percent through October this year compared to the same period in 2024.
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EUROZONE IN DANGER FROM TOO MUCH GOVERNMENT SPENDING, EU SAYS
Because of past and present “immense demands on public finances,” several Eurozone countries face fiscal “sustainability risks,” according to the European Commission’s (EC’s) new assessment of member countries’ compliance with rules governing public spending.
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AGING POPULATION WILL CRIMP LIVING STANDARDS, STUDY WARNS
An aging workforce and falling birth rate will combine to drop the annual GDP in Europe and China by 2050, a study by the European Bank for Reconstruction and Development (EBRD) has warned.
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SPOTLIGHT: THE WORLD’S SLOWING MANUFACTURING SECTOR
As we have greatly detailed, the global economy is in slowdown mode.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As AI continues to take over human jobs, computer and printer maker HP plans to cut 4,000 to 6,000 jobs as it invests in AI to accelerate product and software development and automate customer support functions.
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SPOTLIGHT: BIGS GETTING BIGGER
Investment bank Goldman Sachs is poised to take a market-leading 34 percent share of the advisory services for this year’s mergers and acquisitions as measured by value, data service LSEG reported earlier this month.
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STABLECOIN COULD DESTABILIZE EUROPE’S ECONOMY, ECB GOVERNOR SAYS
A U.S. run on stablecoins—a mass rush to convert them to cash—could force the European Central Bank (ECB) to change its interest rate to contain potential damage to Europe’s economy, Olaf Sleijpen, governor of the Netherlands’ central bank and a member of the ECB’s governing council, warned in a statement last week.
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CRYPTO MARKET HAS LOST $1.2 TRILLION IN SIX WEEKS
From 7 October through 18 November, investors yanked $1.2 trillion out of the crypto market as their concerns rose over the short-term future of risky assets.