Markets & Industries
Global food prices fall by record 14.6% in 6 consecutive months - 10/10/2022
Food costs have been falling globally for six months running. In September, the FAO (Food and Agriculture Organization of the United Nations) food price index in U.S. dollars decreased 1.1% from the previous month and 5.5% from the previous year (as opposed to a decrease of 1.9% and 7.7% in August). According to the FAO index's most recent publication, the decline in the past six months has been...
OPEC+ to cut production again - 10/06/2022
Following a summit on Wednesday, OPEC+ nations agreed on new significant reductions in oil output. Starting in November, the group will lower the production level permitted by the alliance in August by two million barrels per day. The choice was made despite a developing energy crisis in Europe and energy costs growing globally. Prince Abdulaziz bin Salman, Saudi Arabia's energy minister, said...
Global M&A volume falls by 54% in Q3 - 10/05/2022
In the third quarter, global M&A activity decreased by 54% to $716.6 billion, according to Reuters, which used data from the analysis firm Dealogic. Thus, the third consecutive quarter saw a fall in M&A activity, which has since intensified. Comparatively, the second quarter's transaction volume, which was $1 trillion, decreased by 25.5%. Since the start of the year, the overall amount of...
Kim Kardashian fined $1.26M for advertising cryptocurrency on social networks - 10/04/2022
Kim Kardashian has been fined $1.26 million by the SEC for using social media to promote a cryptocurrency without disclosing that she was being paid to do so. Kim Kardashian, a celebrity TV actress and businesswoman, was fined $1.26 million by the U.S. Securities and Exchange Commission (SEC) in 2021 for using Instagram to promote the cryptocurrency EthereumMax (EMAX), which is held by Meta....
Swiss National Bank tightens monetary policy - 10/04/2022
The Swiss National Bank's overnight deposits dropped by 77.5 billion Swiss francs ($78.32 billion) last week, the largest weekly decline ever. This is yet another indication that the monetary policy of the central bank is becoming tighter. Demand deposits, or funds held by commercial banks at the SNB, decreased from 747.1 billion francs a week earlier to 669.6 billion francs, according to data...
Goldman Sachs downgrades oil prices forecast 2023 - 09/29/2022
On Tuesday, Goldman Sachs analysts cut their prediction for the price of oil in 2023 due to concerns over declining demand and an increase in the currency. However, due to continued supply issues, the long-term forecast for the oil market is still favorable. Although a seasonally adjusted supply shortfall is anticipated in the fourth quarters of 2022 and 2023, the bank reduced its oil price...
S&P 500 index closes near two-year low - 09/28/2022
As U.S. Federal Reserve officials stated they are prepared to hike interest rates further, even if it results in an economic slowdown, Wall Street entered bear market territory and the S&P 500 stock index finished at a nearly two-year low on Tuesday. From its record close on January 3, the S&P 500 was down 24%. Earlier, the Fed gave a warning that high interest rates might last until 2023....
Colombia's Ecopetrol increases oil exports to Europe - 09/26/2022
According to Reuters, Colombia's Ecopetrol has expanded its oil shipments to Europe. Colombian oil and gas producer Ecopetrol is involved in exploration, production, transportation, refining, and commercial activities. The government of Colombia owns 88.49% of the company. The business has operations both domestically and internationally. Ecopetrol CEO Felipe Bayon stated during the APPEC...
Global economy expected to face serious shortages of copper - 09/23/2022
The shortfall of this metal on the global market will only get worse in the future as a result of the current decline in copper prices. The rise of capital investment in the expansion of copper production is hampered by weakening of quotes. Copper is required for the manufacture of a variety of products, from computer chips and toasters to air conditioners. Since March, the metal's prices have...
Global steel output declines in August - 09/23/2022
According to a survey from the World Steel Association, global steel production was 150.6 million tons in August, a 3% reduction from the same month previous year (World Steel Association, WSA). "World steel production in August 2022 declined 3.0% to 150.6 million tons," reads a message from the WSA. Included in the reporting period, the total amount of steel produced by CIS nations and Russia...
