On 17 October, the European Central Bank (ECB) cut its key interest rate by a quarter point, the same as it did in June and September, bringing the rate to 3.25 percent.
Tag: Global Economy
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, increased minimum wage, looming fears of a recession, and a tangible decrease in revenues for many sectors…
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Manufacturing and healthcare top the list of job cuts this week with several companies announcing hundreds of layoffs.
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HIGH DEBT, SLOW GROWTH DRAG DOWN GLOBAL ECONOMY, IMF SAYS
The world’s debt burden, already high and still growing, coupled with “anemic” economic growth are hobbling the global economy, Kristalina Georgieva, the International Monetary Fund’s managing director, said in a 17 October CNBC interview.
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GOVERNMENTS’ DEBT WILL TOP $100 TRILLION THIS YEAR, IMF SAYS
Worldwide public debt will exceed $100 trillion before this year is over, rising to 93 percent of the globe's total economic output, according to a new study by the International Monetary Fund (IMF).
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DO PEPSI’S SLOWING SALES SIGNAL A TREND TO HEALTHIER EATING?
In this year’s third quarter, sales in PepsiCo’s Frito-Lay snack division rose an “underwhelming” 1.3 percent, The Wall Street Journal reported, with Frito-Lay North America posting a decline of 1.5 percent.
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RETAILERS CUT PRICES TO WIN BACK CUSTOMERS
After years of hiking prices to keep up with inflation, retailers are now cutting prices to hold onto shoppers who have less to spend and are looking for bargains.
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BANKSTER BANDITS: TD BANK PLEADS GUILTY, WILL PAY $3 BILLION IN FINES
On 10 October, Canada’s TD Bank pleaded guilty in a U.S. federal court to charges related to money laundering and agreed to pay $3 billion in fines, the largest cash penalty ever imposed in the U.S. on a bank guilty of money-laundering charges.
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GERMAN STEELMAKER IS LATEST TO SLOW THE TRANSITION TO CLEAN ENERGY
Thyssenkrupp, one of Germany’s largest steel producers, is reviewing its plan to move its steelmaking processes from fossil fuels to clean energy sources.
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STELLANTIS SHARE PRICE FALLS AFTER MANAGEMENT SHAKE-UP
Stellantis, the Netherlands-based owner of 15 car brands including Jeep, RAM, and Fiat, has announced its CEO will leave the company early in 2026, while the chief financial officer and North America’s chief operating officer will depart sooner.