The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
Tag: Global Economy
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The number of U.S. workers laid off in May was 47 percent higher than May last year, according to a report by outplacement firm Challenger, Gray & Christmas. The firm reported 93,816 layoffs by U.S. employers in May, up from 63,816 layoffs last May. The total number of job cuts through the end of May was 696,309, an increase of 80 percent from the 385,589 job cuts in the first five months of last year.
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NEW HOME PRICES RISE IN CHINA. IS THE PROPERTY CRISIS ENDING?
Last month, the average price of new homes across 100 Chinese cities edged up 0.3 percent, more than doubling March’s increase of 0.14 percent, according to a new survey by the China Research Academy.
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INDIA’S ECONOMY ROCKETS AHEAD 7.4 PERCENT IN FIRST QUARTER
India’s economy leaped up 7.4 percent in the first three months of this year, more than the 6.7 percent economists had expected, as the country pulled out of a looming downturn.
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TRUMP’S ‘BIG BEAUTIFUL’ BILL HIDES A TAX BOMB FOR FOREIGN INVESTORS
Section 899 of Donald Trump’s tax-cut and spending bill now before the U.S. Senate includes a provision that allows the American government to slap additional taxes on foreign investments made by companies and investors from countries deemed to have punitive tax provisions on U.S. investments.
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RISING MORTGAGE INTEREST RATES WILL HOBBLE EUROPE’S ECONOMY, ECB SAYS
Although the European Central Bank (ECB) has lowered its interest rates, the cost of a mortgage is likely to continue rising throughout the 20-country Eurozone until at least 2030, the bank has warned.
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U.S. BANS SALE OF CHIP DESIGN TECHNOLOGY TO CHINA. GET READY FOR DOT-COM BUST 2.0
The Trump administration has banned the sale of “electronic design automation” services (EDA) by U.S.-based firms to China.
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CHINA’S RARE EARTH EXPORT CUTS COULD CLOSE WESTERN CAR PLANTS
Auto companies around the world face an imminent shortage of the rare earth minerals essential to making everything from anti-lock braking sensors to windshield wiper motors, executives have warned the Trump administration, Reuters reported.
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OPEC+ WILL BOOST OIL OUTPUT BY ANOTHER 411,000 BARRELS A DAY IN JULY
At its 31 May meeting, the OPEC+ oil cartel held to its previous commitment to increase oil production by 411,000 barrels per day in July.
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JAPAN’S GOVERNMENT: OUT OF MONEY, OUT OF OPTIONS
With a national debt more than twice the size of its economy, Japan is faced with rethinking its decades-long practice of using public money to affect social policy and keep the economy afloat.