On 10 October, Canada’s TD Bank pleaded guilty in a U.S. federal court to charges related to money laundering and agreed to pay $3 billion in fines, the largest cash penalty ever imposed in the U.S. on a bank guilty of money-laundering charges.
Tag: Global Economy
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GERMAN STEELMAKER IS LATEST TO SLOW THE TRANSITION TO CLEAN ENERGY
Thyssenkrupp, one of Germany’s largest steel producers, is reviewing its plan to move its steelmaking processes from fossil fuels to clean energy sources.
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STELLANTIS SHARE PRICE FALLS AFTER MANAGEMENT SHAKE-UP
Stellantis, the Netherlands-based owner of 15 car brands including Jeep, RAM, and Fiat, has announced its CEO will leave the company early in 2026, while the chief financial officer and North America’s chief operating officer will depart sooner.
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UK ECONOMY RETURNS TO GROWTH IN AUGUST
After shrinking in June and July, Britain’s economy managed to expand 0.2 percent in August, according to the Office of National Statistics (ONS). The figure matched the expectations of economists answering a Reuters poll.
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VOLKSWAGEN’S ILLS EMBLEMATIC OF GERMANY’S CRISIS
In the third quarter, Volkswagen delivered 7.1 percent fewer vehicles, citing falling sales in China, where buyers are gravitating toward native brands and Chinese electric vehicles (EVs) are higher in quality and lower in price than those from Western makers.
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GERMANY’S ECONOMY WILL END 2024 IN RECESSION
No surprise to Trends Journal subscribers. As forecast, Germany’s economy will contract 0.2 percent this year, officials now say, revising their earlier forecast of 0.3 percent overall growth. The economy shrank 0.3 percent in 2023.
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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.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As the Chinese economy continues to struggle, the country’s leading private firms cut their workforce, according to a report by the All-China Federation of Industry and Commerce.
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SPOTLIGHT: RETAIL ON THE ROPES
Since China launched the COVID War in January 2020 on its Lunar New Year, “The Year of the Rat,” The Trends Journal had long forecast that the world’s governments propping up economies with countless trillions of dollars backed by noting and printed on nothing…
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ALUMINUM CAN SALES RISE AS VENDORS DITCH PLASTIC
Ball and Crown Holdings, two of the world’s largest makers of aluminum cans, are seeing sales rise as beverage manufacturers and consumers forsake glass and plastic.