Volkswagen, Europe’s top carmaker, is currently deliberating the closure of factories in Germany for the first time. This move highlights the increasing price pressure that the company is facing from its Asian rivals. The decision marks a significant clash between Chief Executive Oliver Blume and the influential unions within Volkswagen. Resistance from Works Council The
Economy
Bank Negara Malaysia (BNM) has decided to maintain its key interest rate at 3.00% in an effort to sustain economic growth and keep inflation in check. This decision comes amidst a backdrop of robust economic performance and a stable inflation rate of 2.0%. Despite the recent appreciation of the Malaysian ringgit, which has become one
Brazil’s Finance Ministry is faced with significant challenges as it seeks to secure the 2025 fiscal goal amidst potential revenue shortfalls. To address these issues, the ministry has proposed various measures, including taxing big tech companies and implementing a global minimum tax of 15% on multinational corporations. One of the key proposals put forward by
As investors navigate the unpredictable landscape of the stock market, it is crucial to anticipate and prepare for potential volatility. Bank of America Securities recently emphasized the significance of hedging against the possibility of a hot nonfarm payrolls figure, which could result in substantial market fluctuations. The nonfarm payrolls report has once again taken the
Brazilians will soon be facing an increase in their electricity bills, thanks to a decision made by local power regulator Aneel. With more than half of the country’s power supply still coming from hydroelectric plants, the drop in reservoir levels during the dry season has led to additional charges being imposed on consumers. Despite the
In recent years, Chinese lenders have played a significant role in providing financial support to African countries through various loan agreements. The landscape of Chinese loans to Africa has been evolving, with fluctuations in funding levels and a shift in focus towards more sustainable lending practices. A recent study conducted by Boston University’s Global Development
China’s manufacturing sector experienced a significant slowdown in August, as indicated by the official factory survey. The purchasing managers’ index (PMI) dropped to a six-month low of 49.1, falling below the 50-mark that separates growth from contraction. This decline for the fourth consecutive month was unexpected, raising concerns about the state of the economy. The
The Bank of Israel is facing a challenging economic environment characterized by rising price pressures and persistent geopolitical risks. Despite concerns over inflation reaching a 3.2% rate and ongoing conflicts such as the Gaza war, the central bank has maintained its benchmark interest rate at 4.5% for the fifth consecutive decision. Deputy governor Andrew Abir
Poland’s largest opposition party, the nationalist Law and Justice (PiS), is set to lose millions in state funding after the electoral commission’s ruling. The commission stated that PiS had misused public money for campaigning during the 2023 general election. This decision is expected to have significant implications for the party’s future and political influence in
The Bank of Israel has made it clear that they do not intend to lower short-term interest rates at their remaining two policy meetings in 2024. This decision comes as a result of rising price pressures and ongoing geopolitical risks. Despite holding the benchmark interest rate at 4.5% for five consecutive decisions, concerns about inflation