Klarna, a Swedish online “buy now, pay later” lender has issued a U.S. dollar-backed stablecoin to use for international payments, enabling the company to “dramatically reduce costs for both consumers and merchants,” it said.
Tag: Global Economy
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INDIA REPORTS FASTEST ECONOMIC EXPANSION IN 18 MONTHS
n this year’s third quarter, India’s economy grew at an annual rate of 8.2 percent, beating both the second quarter’s 7.8-percent pace and the 7.3 percent economists had forecast in a Reuters poll.
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U.K. RAISES TAXES FOR SECOND YEAR IN A ROW
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.
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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.