Europeans traditionally have saved a larger share of their incomes than Americans do.
Tag: Global Economy
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‘A LONG, SLOW GOODBYE’ TO RUSSIA’S OIL RESERVES
Russia has depended on its oil reserves to keep its war on Ukraine, and its economy, functioning for almost four years. Now Western sanctions and heavier production from those reserves to fuel the war machine are beginning to drain that natural resource.
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LABOR MARKETS IN ADVANCED ECONOMIES ARE SEIZING UP
Employers in G7 countries, considered the world’s most advanced, hesitate to hire or to lay off workers as uncertainties over interest rates, taxes, tariffs, and artificial intelligence (AI) leaves them unable to plan, the Financial Times reported.
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GLOBAL FACTORY ACTIVITY CRIMPED BY WEAKNESS IN CHINA AND THE U.S.
Factory output contracted around the world in September as U.S. economic activity slowed, demand in China weakened, and the ongoing U.S. tariff war made customers hesitate to buy, Reuters reported.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
U.S. employers have laid off nearly 95,000 people in the first nine months of the year, according to a recent report by outplacement firm Challenger, Gray & Christmas.
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SPOTLIGHT: IS CHINA WINNING THE TRADE WAR?
Donald Trump’s tariffs on Chinese goods have been a boon to the world’s second-largest economy. In less than six months since Trump’s “Liberation Day” tariff announcement, China is approaching a record $1.2-billion trade surplus.
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RUSSIAN GOVERNMENT CONTRADICTS PUTIN’S PROMISE, RAISES VAT TAX
Russia’s value-added tax rate will rise from 20 percent to 22 percent, the finance ministry has announced, negating President Vladimir Putin’s promise last year that no tax would increase before 2030.
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WESTERN BANKERS RUSH TO HONG KONG AS MARKETS SURGE
Citigroup, DBS, Deutsche Bank, JPMorgan, and Standard Chartered are among Western banks dispatching senior executives and adding to teams in Hong Kong as new stock listings proliferate, dealmaking is on the rise, and Chinese companies use the island as a gateway for foreign investment.
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EUROPE’S FOOD PRICES HAVE RISEN A THIRD IN THE PAST SIX YEARS
Rising labor and commodity costs have added about a third to Europe’s food prices since the COVID War, a study by the European Central Bank (ECB) has found.