The threat of strikes at several Australian ports exporting liquefied natural gas (LNG) rocketed up prices for the fuel across Europe from around €30 per megawatt-hour on 8 August to €40 the next day.
Tag: Global Economy
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OIL PRICE CONTINUES ITS CLIMB
Oil demand set a record of 103 million barrels a day in June, driven by summer air travel, a surge in use by China’s petrochemical plants, and stronger-than-expected economic activity in Europe, the International Energy Agency (IEA) reported.
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EUROPEAN INFLATION WILL RISE FOR A DECADE
Inflation swaps, analyst surveys, and other indicators find Europe’s economy watchers expecting inflation to continue above the European Central Bank’s (ECB’s) 2-percent target for at least a decade.
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OIL PRICES CLIMB AS INFLATION SLOWS AND SUPPLIES TIGHTEN
World oil prices reached their highest in three months last week as inflation continued to slow in key nations and OPEC+ decided Friday to maintain its current production cut of one million barrels a day, begun in the spring, through September.As a result, the Saudi kingdom will produce about nine million barrels a day next......
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SPOTLIGHT: BIGS GETTING BIGGER
As we had long forecast, the higher central banks raise interest rates, the lower the Merger and Acquisition trend… which hit record highs at the height of the COVID War in 2021 when interest rates sank and governments pumped in countless trillions to artificially prop up sinking economies.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
Despite vowing policy support to jolt China’s economy back to life, the country’s leaders have done little other than make promises, global investors have said as they scaled back their expectations for China’s economic growth this year.
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CANADA GRAPPLING WITH CREEPING MONOPOLIES
Five companies—Costco, Empire, Loblaws, Metro, and Walmart—account for 75 percent of Canada’s grocery sales.
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U.K.’S LARGEST ASSET MANAGER REGROUPS FOR RECESSION
Legal & General Investment Management (LGIM), Britain’s largest asset manager, has been selling off stocks and buying bonds on the judgment that the Bank of England (BoE) will be forced to raise interest rates so high that a “significant” recession will be unavoidable.
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SURVEY: EMPLOYEES WORK AT HOME LESS THAN THEY WOULD LIKE
“There’s a gap between the number of days that employees would like to work from home and the number that their employers are planning for them,” Mathias Dolls, deputy director of Germany’s Ifo Center for Macroeconomics and Surveys, told a press briefing on release of a recent survey on the subject.
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U.S. GREEN ENERGY INCENTIVES MOSTLY GOING TO FOREIGN COMPANIES
The U.S. Inflation Reduction Act, passed by Congress last year, offered more than $260 billion in tax and other incentives for green energy manufacturing projects in the U.S.