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Potential Hardships Exist for Global Markets
Investors beware. There are potential risks ahead on the global market, according to Bloomberg. First, inflation may linger. Wage growth and supply-side pressures including high energy costs may keep consumer prices elevated, canceling out the pivot to cuts from the Federal Reserve and European Central Bank that markets expect to see in the middle of 2023...
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World Awaits Effects of China’s Reduced COVID-19 Restrictions
With China’s move to abruptly loosen COVID-19 restrictions despite a surge in cases, analysts are watching for the impact on the global economy. The country does not have a consistent vaccination effort nor transparent reporting of the scope of infections, leaving the details of any potential fall-out largely a mystery...
U.S. Trade Representative Indicates New Playbook Is Needed For China
The U.S. Trade Representative has once again come down hard on China’s economic policies and practices, and their global effects. The nation’s “20-year distortions” and its “state-centered and non-market trade practices” require that the U.S. develop strategic responses beyond defensive tariffs, Katherine Tai told a forum in late December...
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Financial Firms Now Hesitant About Climate Commitments
Following the UN’s recent climate summit, COP27, hope that the world’s financial sector would commit to taking planet-saving environmental measures may have fallen. Efforts to impact climate change, deforestation, and biodiversity will be hard to put in place due to systemic inertia, political conflict, and a bias toward incumbent providers, according to a Reuters analysis...
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U.S. Leads the Way in Inward Foreign Direct Investment
The United States led 112 economies in foreign direct investment (FDI) for 2021, increasing its position by 11.3%, according to data recently released by the International Monetary Fund (IMF). The average gain for the reporting countries was 7.1% in their national currencies, or 2.3% in U.S. dollars...
BlackRock Predicts Future Recession
The world’s biggest asset manager says a recession is coming, adding yet another prediction to a growing bucket of forecasts. Strategists at BlackRock, Inc., a New York-based multi-national investment company, said that as central banks hike borrowing costs to tamp down inflation, market turbulence will ensue...
Financial Institutions Urge Governments to Adopt Formal Measures to Preserve Biodiversity
One hundred and fifty financial institutions called upon world leaders meeting at the UN Biodiversity Conference COP15 in mid-December to adopt a post-2020 Global Biodiversity Framework requiring economic entities to take action to stop and reverse nature loss. The formal statement, which was coordinated by Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative...
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Goldman Sachs Plays Economic Soothsayer
Goldman Sachs has laid out predictions for the global economy over the next half-century, highlighting four key factors that will impact conditions, the investment bank’s economists wrote in a research paper presented in December. First, people are having fewer children, slowing population growth and putting pressure on economic output...
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Yellen Talks Omicron, Among Other Economic Issues
The latest Omicron variant could worsen supply chain snags and squash demand, slowing overall economic growth, Treasury Secretary Janet Yellen said at the Reuters Next conference on December 1, at which she addressed an assortment of economic issues. The highly contagious variant has caused much uncertainty, she said, comparing it to the Delta variant’s impact on the U.S. economy in early 2022...
IMF: Economic Growth Is Slowing Around the World
Global economic growth is slowing, due to Russia’s invasion of Ukraine, China’s strict COVID lockdowns, and rising interest rates, according to the International Monetary Fund. The world economy will grow 2.7% in 2023, down from 3.2% in 2022, the IMF predicted in a November report...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...