Unemployment Jumps In Italy
In Italy, unemployment jumped unexpectedly in July, hitting 7.6% following six months in a row of declines, according to preliminary data released Thursday. Italy’s statistics agency Istat reported that over…
German Companies Increasingly Looking To Move Operations Abroad
According to a survey by the German Chamber of Commerce and Industry (DIHK), over 50 percent of German businesses believe the transition toward renewable energy and away from cheap Russian…
Sweden On Course For A Mild Recession
On Tuesday, Statistics Sweden announced that Sweden is on course to enter a mild recession following a 0.8% decline in its GDP in the second quarter compared to the first…
Country Gardens Warns, Unless Finances Turn Around, Default Risks Grow
On Wednesday, China’s largest property developer, Country Garden Holdings, warned that if it is unable to reverse the present declines in its financial performance, the risk of it defaulting will…
Denmark Blames Record Falling Consumer Spending On Rain
According to new data from Statistics Denmark released on Monday, July saw retail sales in Denmark fall the most since the Covid-19 pandemic. Economists blamed the collapse in sales on…
Chinese Real Estate Developer Faces Its Lehman Moment
A meeting between distressed Chinese property developer Country Garden Holdings and bondholders, who were supposed to vote on an extension plan for the repayment of a 3.9 billion yuan (US$535…
As Business Activity Slows, A Eurozone Recession Grows More Likely
New data from S&P Global released this week revealed that in the Eurozone, business activity took another blow in August as the economic downturn of the bloc extended out from…
Russian Business Activity Soars
In July, small and medium sized businesses in Russia saw their activity hit a record high for July, with the latest study by Promsvyazbank (PSB) showing the RSBI (Russian Small…
Norway’s Economy Stalls
Norway’s statistics office reported this week that the nation’s economy saw no growth over the second quarter of this year, as soaring inflation and rising interest rates weighed down consumer…
British Energy Regulator Predicts High Energy Costs This Winter
British energy regulator Ofgem has released an analysis showing that UK households are facing the prospect of high energy costs this winter heating season, even in spite of the energy…
