Markets & Industries
China's industrial activity falls for second consecutive month - 12/01/2022
The National Bureau of Statistics reports that the business activity index (PMI) for China's manufacturing sector dropped to 48 points in November. The nation's industrial activity index has declined the most since April. The manufacturing PMI in China fell for the second consecutive month. The figure was 49.2 points in September. A PMI score above 50 denotes increased activity, while one below...
FT: Global inflation is at its peak - 12/01/2022
According to the Financial Times, key economic indicators point to the possibility that global inflation has peaked and will continue to decline. Maximum values for the producer price index were seen in March through August of this year. Nearly all G20 nations' producer prices in October were lower than they were in September. More moderate changes in consumer prices are being caused by a...
WTO expects slowdown in global trade growth in late 2022-2023 - 11/29/2022
WTO analysts estimate that the world trade index is currently at 96.2 points with a baseline value of 100. According to the most recent WTO Merchandise Trade Barometer, which was published on November 28, as the global economy continues to experience significant headwinds, trade growth is anticipated to decline in the last months of 2022 and into 2023. The WTO stated that the current value of...
Hedge funds earn over $1B on Elon Musk's purchase of Twitter - 11/24/2022
Between the end of the first quarter and the end of the third quarter of this year, 13 hedge funds invested roughly $100 million to increase their interests in Twitter, according to Forbes USA. In his remarks on Nov. 3 at the Forbes Iconoclast Summit, Carl Icahn stated, "It doesn't take a genius to figure out that he was going to close this deal." According to Forbes USA, between the end of the...
Fed assumes transition to lower rate hikes - 11/22/2022
According to Cleveland Federal Reserve Bank President Loretta Mester, the U.S. Federal Reserve may start reducing the size of its interest rate increases as of next month in order to moderate inflation while enabling the economy to keep expanding. "At the next meeting, I believe we can reduce the rate rises from 75 basis points. This is not a problem in my opinion, and I believe that such a...
Tesla supplier warns of graphite shortage due to reliance on China - 11/22/2022
Due to its reliance on Chinese exports, the market for electric vehicles may see a graphite scarcity, according to a supplier to Tesla. The market domination of Chinese manufacturers will cause a severe graphite scarcity in the electric vehicle industry within the next ten years, said Shaun Verner, CEO of Australian company Syrah Resources. Syrah Resources is the largest producer of natural...
Saudi Aramco to invest $7B in petrochemical production in South Korea - 11/18/2022
According to a news statement, Saudi Aramco, the Saudi Arabian government-owned oil firm, would invest $7 billion in petrochemical manufacturing at a refinery in Ulsan, South Korea. According to a press release from the Saudi corporation, "The Shaheen project is worth 26 billion Saudi rials, or seven billion dollars, and is Aramco's greatest investment in South Korea. This investment will be...
Moet Hennessy warns about dwindling stocks of expensive champagne - 11/16/2022
The maker of upscale spirits Moet Hennessy has warned that its supply of pricey champagne is running low. According to Moet Hennessy's general manager Philippe Schaus, the company is practically out of all of its expensive champagne brands due to the huge demand for high-end alcoholic beverages. The corporation, according to Schaus, is already referring to this period of increased interest in...
Sales on online shopping sites on Singles Day in China total nearly $157B - 11/14/2022
According to data from the Chinese research firm Syntun, internet sales on Singles Day in China totaled 1.1 trillion yuan ($156.9 billion). Every year on November 11, China observes SIngles Day. 2009 saw the debut of the 27-merchant Alibaba sale event. According to Syntun statistics, the overall sales volume on electronic platforms throughout the entire sales festival was 934 billion yuan...
FT: ECB exerts "heavy pressure" on UniCredit due to its Russian business - 11/09/2022
According to the FT, the ECB is pressuring UniCredit to leave Russia because it views the bank's position there as a risk. The European Central Bank (ECB) is pressuring UniCredit to leave Russia because it views the Italian bank's position there as an unfavorable source of risk. The Financial Times reported this, citing reliable sources. The chief executive officer of Italy's largest bank,...
