Michel Barnier, known for his role in negotiating Brexit, has now been appointed as the Prime Minister of France. This new position comes with its own set of challenges as he steps into a country riven by deep political fault lines. With President Emmanuel Macron naming him as the Prime Minister, Barnier faces the task
Economy
The recent data from the Labor Department revealed a positive trend in the job market, with a decline in the number of Americans filing new applications for jobless benefits. This decrease in jobless claims indicates that layoffs are remaining low, which is a promising sign for the overall health of the labor market. The weekly
The recent release of soft U.S. manufacturing data has caused a ripple effect in global markets, with the Japanese yen emerging as a safe-haven currency while riskier options like the Australian dollar and sterling registered losses. This shift in market sentiment comes on the heels of the worst sell-off in almost a month on Wall
The European Central Bank (ECB) is facing a growing divide among policymakers regarding the outlook for economic growth. This discord could significantly influence the ongoing debate about potential rate cuts, with concerns regarding a recession on one side and inflation pressures on the other. While the ECB has already cut interest rates in June and
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
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