Markets & Industries
UN expects Latin American economy to slow down - 09/01/2021
Economic growth in Latin America and the Caribbean will be 5.9 per cent in 2021, due to last year's weak performance, and is expected to slow to 2.9 per cent in 2022, the UN Economic Commission for Latin America and the Caribbean (ECLAC) said. "Latin America and the Caribbean will grow in 2021, although the pandemic continues and the crisis has exacerbated long-standing structural problems in the...
Porsche to open first factory outside Europe in 2022 - 08/31/2021
German carmaker Porsche announced that it will open an assembly plant in Malaysia next year. Although it is, as Porsche said in a statement, a "small assembly line," this is a rather important step for the company: the plant in Malaysia will be Porsche's first production facility outside of Europe. For a long time, this luxury car manufacturer has been reluctant to open plants outside of...
S&P 500, Nasdaq hit new record highs - 08/31/2021
The U.S. S&P 500 Index hit its 53rd record high close of the year on Monday on the back of a rise in technology stocks. The S&P 500 is up 21% in 2021, with the highest number of record highs in the current calendar year as of August. The S&P 500 ended trading up 19.42 points, or 0.4%, to 4,528.79 points. The Nasdaq Composite rose 136.39 points, or 0.9 percent, to 15265.89 points, its...
COVID-19 hits coffee market - 08/30/2021
Vietnam's coffee exports are suffering because of tight restrictions imposed by authorities to control the spread of the delta strain of coronavirus, Bloomberg writes. Vietnam is the world's second-largest coffee producer. The country's authorities are keeping the Ho Chi Minh City export center under a strict lockdown due to a growing number of infections with COVID-19. Coffee shipments in some...
Bloomberg: Global economy undergoes major transformation - 08/30/2021
During the coronavirus pandemic, when millions of people around the world found themselves isolated and forced to switch to remote work, the global economy underwent a massive transformation. As Bloomberg writes, many companies are now favoring the so-called new "hybrid" form of work. It's a combination of remote and office work. The agency notes that the pandemic has shifted the appeal for...
UK shows its lowest new car output in 65 years - 08/27/2021
In July, the United Kingdom produced the fewest new cars in 65 years (since 1956). The reasons for these figures were a shortage of processors and employee self-isolation due to the coronavirus. U.K. car production in July was the lowest for the month since 1956, according to the local Society of Motor Manufacturers and Traders (SMMT). There were 58,438 cars produced, 37.6 percent fewer than...
WSJ: Western Digital discusses merger with former Toshiba subsidiary - 08/26/2021
Hard drive and disk drive manufacturer Western Digital is in talks to merge with Japanese company Kioxia, formerly owned by Toshiba and known as Toshiba Memory, The Wall Street Journal (WSJ) reports citing sources. According to their information, the sides have advanced in discussions of a possible merger. Kioxia manufactures flash memory chips used in phones, servers and other devices. Western...
83% of German companies complain about supply disruptions and price increases - 08/20/2021
The majority of German companies (83%) report problems with the supply of raw materials, components and other goods, as well as significant price increases, says the German Federal Association of Chambers of Commerce (DIHK). Only about 20% of the companies said they expect the situation to improve this year, while 53% of the companies said they did not expect any improvement until next year....
Number of new buildings in the US falls worse than forecast in July - 08/19/2021
Number of new homes in the US with construction starts in July fell 7% from the revised June figure to 1.534 million, the country's Commerce Department said in a statement. Analysts polled by DailyFX had expected the figure to fall to 1.6 million from the initial June level of 1.643 million. However, the June figure was revised upwards to 1.65 million new buildings. Compared to July 2020, when...
WTO global merchandise trade indicator hits all-time high - 08/19/2021
The World Trade Organisation (WTO) reported that its merchandise trade figure has reached its highest level since the calculation began, indicating an economic recovery from the COVID-19 pandemic. As noted by the WTO, its indicator, the Commodity Trade Barometer, provides real-time information on the trajectory of merchandise trade relative to recent trends, outpacing traditional trade volume...
