Tag: may 24 2022

Each week, we report instances where the money junky hedge funds, private equity groups and the already big companies swallow another piece of the global economy. Here are some more of what the BIGS have been gobbling up and how the Bigs keep getting bigger and the rich keep getting richer. SAUDIS PAY $3 BILLION...

YELLEN REJECTS SUGGESTION TO RAISE 2-PERCENT INFLATION TARGET Advanced nations should not adjust upward their 2-percent inflation targets just because inflation is running at high rates, U.S. treasury secretary Janet Yellen told reporters on 19 May in Bonn, Germany, where she was attending a meeting of finance ministers of the G7 nations. “The challenge is...

Companies hawking haute couture, pricey perfumes, and three-figure bottles of cognac expect sales in China to return to COVID-era highs and to accelerate in the U.S., despite roaring inflation and an extended sell-off of luxury-company stocks. Antoine Arnault, CEO of the Berluti division of luxury conglomerate LVMH, and Gildo Zegna, head of Italy’s Ermenegildo Zegna...

In April, car sales in Europe declined for a 10th consecutive month, with new registrations off 20 percent, year over year, the European Automobile Manufacturers’ Association said, recording the largest drop this year. Stellantis, the conglomerate that subsumed Chrysler Fiat, saw sales plunge 31 percent. Italy lost more than a third of its sales, compared...

Home prices across 70 cities in China edged down 0.11 percent in April, year over year, their first decline since November 2015, according to The Wall Street Journal’s analysis of data published by China’s National Bureau of Statistics. Prices rose in 30 cities and fell in 40. The decline was concentrated in China’s poorer, smaller...