economicgrowth
The Q2 2024 Weil European Distress Index (WEDI) report by global law giant Weil Gotshal & Manges has been released, highlighting a slight fall in European corporate distress levels compared with the first quarter of the year. However, they were still higher than the same period last year. "Corporate distress can be defined as uncertainty about the fundamental value of financial assets, volatility and increase in perceived risk. It also refers to the disruption of the normal functioning of company financial performance, including their ability to fulfill their debt requirements," the report say...
Euronews (English)
"I think it's been decided, as obviously as it possibly can be, that America First is the future direction of the Republican Party," former presidential hopeful Vivek Ramaswamy tells me. Given the close association of "America First" with tariffs, industrial policy, and calls to close the borders, even to legal immigration, this might not seem to augur promising things for libertarians. But Ramaswamy sees two distinct live possibilities for what the phrase should actually mean. "From where I sit," he says, "the most important debate for the country to have is the intra–Republican Party and eve...
Reason
UK GDP grew by 0.4% month-to-month in May, the Office for National Statistics (ONS) confirmed on Thursday. The reading comes after a flat result in April and is double the total predicted by analysts. Growth was primarily driven by services output, which rose by 0.3% - the fifth consecutive monthly jump. Production output was also up 0.2%, while construction increased by 1.9%. This is positive news for the sector previously affected by wet weather as construction dropped by 1.1% in April. "It's amazing what a bit of warm weather can do," said Danni Hewson, head of financial analysis at AJ Bell...
Euronews (English)
S&P Global released its Eurozone economic outlook for Q3 2024 on Monday morning, highlighting that growth in the Eurozone has returned mainly due to a fall in energy and commodities prices. This is likely to allow gross domestic product (GDP) growth to increase from 0.7% this year to 1.4% in 2025, a slight rise from the 1.3% predicted by S&P Global in March. Eurozone inflation is also expected to come back to the European Central Bank (ECB)’s 2% target by mid-2025, if present conditions remain more or less constant. Productivity bouncing back, wages growing at a slower pace and profit margins ...
Euronews (English)
The United States Constitution vests all legislative powers in Congress. Yet, over the past century, we've witnessed a disturbing trend of legislators increasingly delegating much of the authority to set the laws that govern the land to the executive branch, which includes unelected officials at administrative agencies. This undermines democratic accountability, contributes to government bloat and abuse of powers, and disrupts the balance of power crafted so carefully by the Framers. Reasserting congressional authority is essential for maintaining a balanced government and ensuring that polici...
Reason
“We once had a client who said, ‘you can’t be green if you’re in the red.’ I think that’s a really important way to think about things,” said Amy Brachio, Global Vice Chair, Sustainability, at consultancy firm Ernst & Young (EY). How can businesses be both profitable and sustainable?Speaking at the Cannes Lions Festival of Creativity, Brachio told Euronews Business that the idea of creating an economy in which business, people and the planet can all thrive is currently “out of balance” with the reality of today. "When you look at 2024, and what it means, businesses have to deal with a lot toda...
Euronews (English)
The UK unemployment report for the three months ending April 2024 was released on Tuesday morning, coming in at 4.4%, according to the Office for National Statistics. This was more than both the previous period and analyst expectations of 4.3%. This was also the highest figure since September 2021. The number of people without a job rose to 1.51 million, inching up 24,000. A significant portion of this number was made up by people who did not have a job for the last 6 months. The number of people without jobs for more than 6 months, going up to 12 months also rose, as did the number of people ...
Euronews (English)
No matter what President Joe Biden and former President Donald Trump promise you, and no matter its past as the untouchable "third rail" of American politics, Social Security will be modified one way or another within the next 10 years. While both candidates are misleading their voters, the party with the most to lose from ignoring Social Security's troubles is the GOP. First, some background. It doesn't matter that some people continue to believe the money for Social Security is in an account with their name on it, or that they trust Biden's and Trump's word not to touch the program. If Congr...
Reason
Taylor Swift has taken the world by storm to become one of the most popular artists in the past few years. Commanding the loyalty of millions of fans, she joined the billion dollar club recently, with a net worth of about $1.1 billion (€1.01 billion) in April 2024. This wealth has mostly been gathered through her music catalogue, record sales, concert tour ticket sales and streaming deals. Swift is also one of the few artists who has made the most of her wealth through her main occupation as a singer and performer, rather than ancillary businesses such as fashion lines, beauty brands, restaura...
Euronews (English)
The World Economic Forum (WEF) released its latest Chief Economists outlook on Wednesday, which surveys top economists from both the private and public sectors. According to 82% of chief economists, the global economy is likely to become more robust, or at the very least, stay the same in 2024. This is nearly twice as many as was seen towards the tail end of 2023. On the other hand, the percentage of chief economists betting on worldwide conditions worsening plunged from 56% in January 2024, to 17% in May. More than two-thirds of chief economists also expect global growth to be boosted signifi...
Euronews (English)
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