For the second time in less than three months, Volkswagen has pared back its 2024 financial projections, citing a weak market for its passenger cars.
Tag: Global Economy
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PARTNERSHIP TAKES ORDERS IN EUROPE FOR CHEAP CHINESE EVS
The partnership between Chinese automaker Leapmotor and Stellantis, owner of 14 auto brands including Fiat and Peugeot, is taking orders for a low-priced Leapmotor electric “city car” and an all-electric SUV, both to be sold in Europe.
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SWEDEN’S CENTRAL BANK CUTS RATE AGAIN
Last week, Sweden’s Riksbank shaved another quarter point from its key interest rate, dropping it to 3.25 percent as forecast by a Wall Street Journal survey of economists.
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CANADA’S ECONOMY BARELY BUDGING
Canada’s GDP expanded by 0.2 percent in July, double what economists had forecast in a Reuters poll.
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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.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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OPEC INCREASES FORECAST FOR LONG-TERM OIL DEMAND
Economic growth in Africa, India, and the Mideast and a slowdown in the transition to electric vehicles (EVs) will raise world oil demand more over the long term than previously expected…
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MOODY’S CUTS ISRAEL’S CREDIT RATING A SECOND TIME
Moody’s Ratings has downgraded Israel’s creditworthiness for a second time this year, dropping it from A2 to Baa1 as the Gaza war, and now a conflict with Hezbollah, takes its toll on the country’s finances.
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ITALY SEES 1 PERCENT GROWTH THIS YEAR, CUTS DEFICIT REDUCTION GOAL
Italy expects its economy to expand by 1 percent this year and 1.2 percent in 2025 and says it will reduce its annual budget deficit below last year’s.
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GERMANY’S ECONOMY WILL END THIS YEAR IN RECESSION
Finally repeating what we have long forecast and detailed in The Trends Journal, in a joint report, four German economic think-tanks have flipped their forecasts, saying now that the country’s economy will shrink by 0.1 percent this year.