On 16 October, LVMH, the world’s largest luxury conglomerate, reported third-quarter sales fell 3 percent below last year’s during the same period, landing at €19.08 billion.
Tag: Global Economy
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BREXIT WIPED OUT 40,000 FINANCE JOBS IN LONDON, MAYOR SAYS
When England and Scotland left the European Union (EU), the city of London lost 40,000 finance jobs, Michael Mainelli told Reuters in an interview.
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CANADA’S ECONOMY STUMBLES IN THIRD QUARTER
Despite a growing population and three interest rate cuts by the central bank, Canada’s economy eked out only a 1-percent expansion in the third quarter, according to initial calculations among economists polled by The Wall Street Journal.
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ECB CUTS KEY RATE ANOTHER QUARTER POINT
On 17 October, the European Central Bank (ECB) cut its key interest rate by a quarter point, the same as it did in June and September, bringing the rate to 3.25 percent.
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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. Some of the most significant challenges include soaring inflation rates, escalating interest rates, increased minimum wage, looming fears of a recession, and a tangible decrease in revenues for many sectors…
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Manufacturing and healthcare top the list of job cuts this week with several companies announcing hundreds of layoffs.
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HIGH DEBT, SLOW GROWTH DRAG DOWN GLOBAL ECONOMY, IMF SAYS
The world’s debt burden, already high and still growing, coupled with “anemic” economic growth are hobbling the global economy, Kristalina Georgieva, the International Monetary Fund’s managing director, said in a 17 October CNBC interview.
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GOVERNMENTS’ DEBT WILL TOP $100 TRILLION THIS YEAR, IMF SAYS
Worldwide public debt will exceed $100 trillion before this year is over, rising to 93 percent of the globe's total economic output, according to a new study by the International Monetary Fund (IMF).
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DO PEPSI’S SLOWING SALES SIGNAL A TREND TO HEALTHIER EATING?
In this year’s third quarter, sales in PepsiCo’s Frito-Lay snack division rose an “underwhelming” 1.3 percent, The Wall Street Journal reported, with Frito-Lay North America posting a decline of 1.5 percent.
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RETAILERS CUT PRICES TO WIN BACK CUSTOMERS
After years of hiking prices to keep up with inflation, retailers are now cutting prices to hold onto shoppers who have less to spend and are looking for bargains.