The price of Brent crude oil, the benchmark for world oil prices, spiked more than 9 percent last week, trading above $78 a barrel after Israel bombed targets in Lebanon and Iran and Israel exchanged aerial attacks.
Tag: Global Economy
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NETANYAHU’S GRIP IN ISRAEL STRENGTHENS AS U.S. PREPARES TO DEFEND COUNTRY FROM ‘IRANIAN ATTACK’
Israeli Prime Minister Benjamin Netanyahu managed to consolidate power Sunday when he appointed a former rival in his Cabinet.
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FAST-FASHION GIANT MISSING PROFITABILITY TARGET
Sweden’s H&M, the global fast-fashion house, has said it will likely not reach its goal of a 10-percent operating margin this fiscal year.
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VOLKSWAGEN CUTS ITS FINANCIAL OUTLOOK AGAIN
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.
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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…