The BRICS trading bloc of emerging economies have not created and are not creating an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which enables smooth transfer and settlement of international l payments among governments, banks, and businesses.
China will account for 22 percent of global economic growth over the next five years and India 15 percent, according to the International Monetary Fund’s (IMF’s) new economic outlook report.
The economic landscape has presented an array of challenges that have profoundly affected the business community.
The retail, restaurant, manufacturing, and tech industries continue to be hit hard as prices increase and demand slows.
A newly released UN report raises the alarm about the risks of freedom of expression around the world as Israel carries out its effort to ethnically cleanse Gaza.
Sales for Swiss-based Nestlé, one of the world’s largest packaged foods conglomerates, will grow about 2 percent this fiscal year, not the 3 percent it had forecast as recently as July. Sales grew a meager 1.3 percent in the third quarter.
Stellantis, maker of Jeep, Ram, Fiat, and a dozen other vehicle brands, shipped 1.15 million units in the third quarter, down from 1.43 million a year earlier.
On 16 October, LVMH, the world’s largest luxury conglomerate, reported third-quarter sales fell 3 percent below last year’s during the same period, landing at €19.08 billion.
When England and Scotland left the European Union (EU), the city of London lost 40,000 finance jobs, Michael Mainelli told Reuters in an interview.
Despite a growing population and three interest rate cuts by the central bank, Canada’s economy eked out only a 1-percent expansion in the third quarter, according to initial calculations among economists polled by The Wall Street Journal.