After years of raising prices far higher and faster than the rate of inflation, luxury brands are slowing their increases as a key customer group cuts purchases.
Tag: Global Economy
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RUSSIA’S CENTRAL BANK CUTS KEY INTEREST RATE BY TWO FULL POINTS
On 28 July, the Central Bank of the Russian Federation knocked two points off its policy interest rate, lowering it to 18 percent. The cut is the largest since May 2022 when the country was coping with the imposition of Western sanctions related to Russia’s attack on Ukraine.
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ECB HOLDS INTEREST RATES FIRM AS A BULWARK AGAINST TARIFF UNCERTAINTY
On 24 July, the European Central Bank (ECB) decided to hold its key policy rate at 2 percent after reducing it eight times in a row over the past 13 months.
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AUTO STOCKS RISE ON “BAD” U.S. TRADE DEAL WITH JAPAN
U.S. automakers criticized Donald Trump’s trade deal with Japan as bad for the American auto industry while car companies’ share prices rose on the world’s stock exchanges. (See “Japan and U.S. Agree on Outline of a Trade Agreement”in this issue.)
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CHINA’S INDUSTRIAL SECTOR SAGS AGAIN IN JUNE
In China, manufacturers’ profits declined again in June as the country’s deflation continued and consumer demand remained feeble, the U.S.-China trade agreement remained unsettled, and the global economy remained generally uncertain, the country’s National Bureau of Statistics (NBS) reported.
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U.S. TRADE AND ECONOMIC POLICIES PUSHED EURO UP…AND DOWN
Last week it was reported that the dramatic shift in U.S. trade and economic policies, and their erratic implementation, have shaken investors’ confidence in the U.S. dollar as a safe store of wealth, The New York Times reported.
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WORLD ECONOMIES PROVE RESILIENT TO TARIFFS
Economies in Asia, Europe, and the U.S. have not faltered greatly as Donald Trump’s tariff war proceeds, although exporters are receiving fewer orders, The Wall Street Journal 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
Intel expects to cut its workforce by 25,000 this year through layoffs, attritions and other methods and will cancel plans to build new chip facilities in Europe.
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TESLA SALES CRASH IN SECOND QUARTER
Once the world’s leading maker of electric vehicles (EVs), Tesla delivered 384,000 EVs in this year’s second quarter, compared to 444,000 during the same period in 2024.