After the collapse of Signature and Silicon Valley banks in March 2023, Michael Barr, vice-chair of the U.S. Federal Reserve, proposed stringent new rules requiring American banks to keep more capital on hand.
Tag: Global Economy
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TURKEY’S ECONOMIC SLOWS MOST IN FOUR YEARS
In this year’s second quarter, Turkey’s economy grew by 2.5 percent, the slowest since the same quarter in 2020, the country’s statistical institute reported.
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BANK OF CANADA CUTS INTEREST RATE A THIRD TIME
The Bank of Canada has cut its key interest rate for a third time in as many meetings, dropping it by a quarter point to 4.25 percent.
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POST-COVID TRAVEL SPLURGE HAS ENDED, INDUSTRY FIGURES SHOW
As the COVID War ended, people vented their pent-up wanderlust, spending their savings and even going into debt to criss-cross the globe.
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VW MULLING ITS FIRST-EVER CLOSURE OF A GERMAN AUTO FACTORY
Volkswagen, one of Germany’s iconic car makers, is thinking about doing something it never has: shutting down one of its German factories.
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GERMAN EXPORTERS FACE A RECESSION, TRADE GROUP WARNS
Germany’s economic model is under “massive pressure” as manufacturers making goods for export face a recession, the Federation of German Wholesale, Foreign Trade and Services (BGA) warned on 4 September after new data showed foreign trade continuing to decay.
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EUROZONE INFLATION SLOWS TO 2.2 PERCENT IN AUGUST
After peaking at 10.6 percent in October 2022, inflation in the 20-country Eurozone slowed to 2.2 percent in August, moving down from 2.6 percent in July and nearly reaching the European Central Bank’s 2-percent target.
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COVID WAR HITS PLANTATION WORKERS OF SLAVELANDIA
Workers’ share of the world’s economic output fell following the COVID War and still has not recovered, according to a new report from the International Labor Organization (ILO).
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EUROZONE FACTORY ACTIVITY CONTRACTS AS ASIA, U.K. IMPROVE
The Hamburg Commerce Bank’s purchasing managers' index (PMI) for the 20-country Eurozone’s manufacturing industry rated factory activity at 45.8 in August, well below the 50 mark that separates decline from growth.
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EUROZONE’S SECOND-QUARTER GROWTH MISSES ESTIMATE
The economic output of the 20-country Eurozone grew just 0.2 percent in this year’s second quarter, Eurostat, the European Union’s statistics agency, reported after previously estimating a 0.3-percent expansion.