Markets & Industries
World Bank expects commodity prices to hit 5-year low in 2025 - 10/30/2024
The World Bank's Commodity Markets Outlook predicts that global commodity prices may drop to a five-year low by 2025 due to an excess of oil supply. WB analysts wrote that the surplus is so significant that it will probably restrict the price influence of a broader conflict in the Middle East. However, in general, commodity prices will stay 30 per cent above their levels in the five years prior...
Saudi state investment fund to cut its foreign investments share - 10/30/2024
The Financial Times reports that Saudi Arabia's Public Investment Fund (PIF) plans to decrease foreign investments by approximately one third. Yasir Al-Rumayyan, the head of PIF, mentioned at the Future Investment Initiative conference in Riyadh on Tuesday that in the beginning, most of the Public Investment Fund's funds were put into projects within the local area. He noted that foreign...
Sales of electric cars in the U.S. in Q3 add 11%, hit record high - 10/22/2024
According to Cox Automotive, electric vehicle sales in the U.S. during the third quarter rose by 10.7% from the previous year to a new high of 346,408 units. Therefore, their share of total car sales in the nation has increased to 8.9% from 7.8% in the previous year. Stephanie Valdez Streaty, director of industry analysis at Cox Automotive, points out that even though growth has decreased,...
China's central bank introduces credit and swap facility to support stock market - 10/21/2024
China's central bank, the People's Bank of China (PBOC), has implemented a specific credit program to assist businesses and major stakeholders in purchasing their own stocks. The PBOC announced a program worth 300 billion yuan ($42.1 billion) in September, which will offer low-interest loans to 21 commercial banks for companies and shareholders meeting specific criteria, as a recent PBOC...
Four US IT companies invest over $8 billion in UK data centers - 10/16/2024
The UK government has successfully obtained investments worth £6.3 billion ($8.2 billion) from four US technology firms for data center projects, according to The Wall Street Journal. Specifically, CyrusOne, a data center operator supported by investment company KKR & Co., intends to invest 2.5 billion pounds in British projects set to be up and running by the end of 2028. ServiceNow, a...
Canada's stock market surpasses the UK in terms of capitalization - 10/11/2024
According to Bloomberg, the UK has dropped to seventh place globally in the volume of capitalization, falling behind Canada's market. Since the start of the year, Canadian companies traded on the stock market have seen an 11 percent increase in their market value, reaching $3.22 trillion. The British stock market, which was once one of the top global markets, now lags behind the US, China,...
Germany worsens 2024 forecast for the economy - 10/10/2024
The German government has revised its 2024 economic forecast downwards, now predicting a 0.2% GDP decline compared to the previous 0.3% growth forecast in April. Germany experienced a 0.3% decrease in GDP in 2023. The Financial Times reports that there will be a decrease for two years in a row for the first time since the early 2000s. German Economy Minister Robert Habeck stated on October 9...
Cognac producers in France alarmed by EU and China’s plans to mutually raise duties - 10/09/2024
The National Cognac Bureau (BNIC) stated that French cognac producers are now being held captive by the impact of the EU's tariff increase on Chinese electric cars and Beijing's retaliatory actions. "We urge our government to act accordingly to put an end to the escalation that is affecting us," stated BNIC on Tuesday. The organization said that China's response to brandy shipments would have a...
Italgas, 2i Rete Gas deal will create Europe's largest gas distributor - 10/08/2024
Italgas, an Italian gas company, has revealed the acquisition of 2i Rete Gas, a smaller competitor, for €5.3 billion, which includes debt, from F2i SGR S.p.A. and Finavias. Italgas announced in a press release that the agreement is set to be finalized in the first half of 2025 pending regulatory approval. The consolidation of the firms will lead to the establishment of the biggest operator of a...
Goldman analyst expects S&P 500 index to add 5% more by the end of the year - 10/04/2024
Scott Rubner, a technical strategist at Goldman Sachs Group, expects that the S&P 500 American stock index could achieve 6,000 points by the end of this year. MarketWatch reports that the forecast predicts an approximately 5% increase in the indicator from its current levels. Rubner anticipates a late October start for the rally in the U.S. stock market, with three weeks of heightened volatility...
