In this year’s first quarter, nations took on another $1.3 trillion in debt, pushing the worldwide total to $315 trillion, the Institute of International Finance (IIF) reported.
Tag: Global Economy
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GOING OUT OF BUSINESS TRENDS
In recent times, 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. Electric vehicle makers continue to announce job cuts as demand slows in line with one of our Top Trends of 2024: EV GO FU. Tesla announced 316 layoffs at its Buffalo, N.Y. facility and......
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CANADA CENTRAL BANK RATE CUTS LIMITED BY FED, BANK CHIEF SAYS
The Royal Bank of Canada (RBC) is planning to cut its interest rates in the near future to energize the country’s economy.
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BUSINESS BANKRUPTCIES SOAR IN CANADA
In this year’s first quarter, Canada’s business bankruptcies shot up 87.2 percent, year on year, to 1,599, according to data from the government’s Office of the Superintendent of Bankruptcy. Household bankruptcies rose 14 percent.
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BRITISH OFFICIALS AT ODDS OVER PRIVATE EQUITY’S RISK TO THE ECONOMY
The Bank of England (BoE) has escalated its warnings that private equity firms pose a systemic risk to the U.K. economy through their leverage, valuations, and lack of public disclosure of their data.
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HUGO BOSS PROFIT UP AS COST CUTTING RISES
German luxury clothier Hugo Boss reported a first-quarter net profit of €38 million, beating analysts’ expectation of €36 million. Gross profit rose 5 percent and operating profit by 6 percent, year on year.
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MAERSK POSTS LOWER PROFITS
Shipping giant AP Moeller-Maersk reported a sharp drop in first-quarter profits due to continued attacks on freighters in and near the Red Sea by Yemen’s Houthi militants in support of terror group Hamas in its war with Israel.
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EUROPE’S CARMAKERS REPORT FALLING SALES, REVENUE, AND PROFITS
Stellantis, the conglomerate that owns Alfa Romeo, Dodge RAM, Fiat, and Peugeot, among other vehicle brands, posted first-quarter revenue below expectations after its sales shrank across Europe.
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EUROZONE BUSINESS ACTIVITY GROWS FASTEST IN 11 MONTHS
In April, a robust services sector more than outweighed a deepening slump in manufacturing to power the Eurozone’s economy to its strongest monthly growth since May 2023.