This week's Going Out of Business Report reveals a growing wave of bankruptcies, business closures, bank branch shutdowns, plant closings, retail retreat, and workforce reductions stretching from Main Street to multinational corporations.
Tag: Global Economy
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
The layoff train keeps rolling, and the numbers tell a story that the government and Wall Street would rather ignore.
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XI URGES CLOSER TIES AMONG BRICS NATIONS
In his closing speech at this year’s conclave of member nations in the BRICS trading bloc, Chinese president Xi Jinping urged leaders to deepen and tighten their economic ties, in part by creating a BRICS “Special Economic Zone” and opening a discussion about making commerce in services smoother among the countries.
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SPOTLIGHT: BIGS GETTING BIGGER
Payment processing company Stripe will put up $8 billion in cash and stock to take over OpenRouter, a startup that allows companies to switch among various AI models to find the one that is cheapest or best suited to a particular need.
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SPOTLIGHT: THE “HORMUZ WAR” SHAKES UP THE SHIPPING INDUSTRY
Iran claims to have blacklisted 45 tankers that have violated its rules for passing through the Strait of Hormuz.
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AI FRENZY VAULTS CHINA’S TECH STOCKS’ VALUATIONS ABOVE U.S. RIVALS
China’s top tech stock index has returned 29 percent this year through 18 August, more than twice the NASDAQ’s 12.4 percent.
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EUROPEANS PILE UP SAVINGS, SLOWING GDP GROWTH
In this year’s first quarter, Europeans’ gross savings ratio – the amount of disposable income not spent on goods and services – was 14.3 percent, rising above the average of 12.5 percent during the five years before the COVID War, the European Union’s statistics office reported.
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U.S., CANADA TRADE TALKS COLLAPSE, BOTH SIDES IMPOSE TARIFFS
Trade negotiations between the U.S. and Canada ended abruptly on 21 August, with both sides saying the other had sprung last-minute changes that were unacceptable.
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GOING OUT OF BUSINESS TRENDS
America’s economic decline continues to spread from Main Street to major corporations.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Companies continue slashing jobs as economic pressures intensify and business conditions weaken.