Getting in one last bit of work before the long weekend, the US Census Bureau released its Monthly Advance Economic Indicators Report for October on the day before Thanksgiving. Advance wholesale inventories were up for the month of October, by 0.9%. The August to September percentage change was revised from up, 0.4% to up 0.7%.
The prime ministers of Hungary and Poland conducted a meeting in Budapest on November 26. During the meeting, the Prime Minister of Hungary, Viktor Orban, and Prime Minister of Poland, Mateusz Morawiecki, signed a joint declaration rejecting a European Union proposal which would have linked each EU member’s budget payments to the EU.
According to reports, Vice President of the European Commission Maros Sefcovic said on Tuesday that by 2025, the EU can produce enough batteries to power its fast-growing electric vehicles without relying on imported batteries. It’s part of the plan to achieve “climate neutrality” by 2050.
Western Union, the world’s largest money transfer company, spent $200 million to acquire a 15% stake in the digital payment division of STC Group. Saudi Arabia’s largest telecommunications operator said in a statement on Saturday that the acquisition will provide the company with funds and support its long-term expansion plans.
The United States officially withdrew from the Treaty on Open Skies on Sunday, six months after notifying parties to the treaty that it would do so. The treaty allows signatories to scout each other’s military installations, which is seen as an important measure to build mutual trust after the end of the Cold War.
Germany and Russia recorded the highest daily numbers of positive COVID-19 cases since the start of the pandemic i.e 23,648 and 24,318, respectively. Germany recorded 1,039 more infections than last Thursday, and 106 above the record of daily infections registered a week ago, according to data from the Robert Koch Institute (RKI).
The Russian Ministry of Economic Development announced new draft law pertaining the simplified procedure for the foreign nationals to obtain Russian residential permit. It should be noted, Ukrainian nationals can obtain Russian citizenship under the simplified procedure already without the need of the investment.
The European Union warned that the UK has not taken enough action to overcome the three major obstacles facing a post-Brexit trade agreement. The leaders of Belgium, France, and the Netherlands urged greater efforts to prepare contingency plans in case an agreement is not reached.
Late last month, sports equipment company Under Armour announced it was cutting ties with some 2,000 retailers over the next two years. In doing so, Under Armour would focus on building up its direct-to-consumer business. Promo Marketing reported a more than 50% growth in Under Armour’s e-commerce business during the third quarter, with a 17% increase in direct-to-consumer sales.
The large scandal erupted within German government pertaining the plagiarism accusation and reprimand. Plagiarism is an unethical on all levels. At present, German Minister Franziska Giffey is forced to give up her academic degree. Ms Giffey is accused of plagiarizing her PhD dissertation from the Free University of Berlin.
The heir to the British throne, Prince Charles, and his wife, Camilla, traveled to Berlin on Sunday, November 15, to mark the annual ‘National Day of Mourning’ in Germany to pay tribute to the victims of war, terrorism and extremism. In a speech in German, Prince Charles emphasized the continuation of his country’s friendly relations with Germany.
Tanzanian opposition leader Tundu Lissu left the German embassy in Dar es Salaam for Brussels with the help of Western diplomats. He told the media that he is being threatened following his move to challenge President John Pombe Magufuli in the country’s recently concluded presidential elections.
Top European leaders on Tuesday engaged US president-Elect Joe Biden via phone calls to congratulate him on his electoral victory and wish him well. Among them were British Prime Minister Boris Johnson, President Emmanuel Macron of France, and German Chancellor Angela Merkel.
The World Health Organization (WHO) resumed its meetings beginning from November 9 to 14. The United States once again criticized the World Health Organization for not being transparent enough. After the new coronavirus broke out in China at the beginning of the year, it spread to all parts of the world.
Israeli Prime Minister Benjamin Netanyahu discussed COVID-19 vaccines and other ways of ending the pandemic at a video conference with world leaders. The video conference was hosted by the Chancellor of Austria, Sebastian Kurz, with the participation of the Prime Ministers of Austria, Norway, Denmark, Greece and the Czech Republic.
On Monday, a Swedish court overturned a decision to prohibit Huawei equipment from entering the country’s 5G network, forcing the Swedish Postal and Telecommunications Administration (PTS) to announce that it will postpone the auction of 5G network frequency bands originally scheduled for Tuesday.
On November 3rd, American citizens voted to elect the new President of the United States. The winner is Democrat Joe Biden, who has a long history in politics. Many major changes are coming to the US’ national and foreign policies in the new year. Furthermore, for the European Union, it will be a welcome change.
The European stock market jumped to an eight-month high today after Pfizer and Biontech announced strong progress in their vaccine against COVID-19. Meanwhile, Democratic presidential candidate Joe Biden’s victory in the US presidential election raised hopes for a more stable trade policy for the United States.
Necessity is often the mother of investment. The Great Lockdown, itself made necessary by the coronavirus pandemic, has caused the disruption of many sectors of the economy, a tidal wave of business closings, and even the collapse of entire industries. However, as is often the case in economic downturns, it’s not all bad news.
Following the Democratic Party presidential candidate, Joe Biden’s resounding victory in the US presidential elections, a section of world leaders have already sent in their messages of goodwill while wishing him well as he assumes the reins of power of the world’s superpower.
Scotland became the first country in the United Kingdom to enact legislation prohibiting the physical punishment of children under the age of 16. In Scotland, a law has come into force against spanking children, according to the online edition Express and Star on Saturday, November 7.
On Friday, according to foreign media reports, lithium compound producer Livent announced that it has extended its supply contract with Tesla until 2021. Livent also revealed that it will set up a joint venture to acquire the troubled Nemaska lithium mine project in Canada, which will help the company increase lithium production.
The European agricultural world is in crisis, but not all players have been equally affected by events. Certain industry champions are standing up, ensuring the continent’s agricultural resilience and contributing to its present and future food security.
Although consumers might not realise it, the European agriculture sector has faced a torrent of strife and regrettable circumstances in the years since the 2008 recession. Following the sting on exports of Russia’s 2014 agricultural import ban, 2015 saw the dairy industry further thrown into disarray by deregulation, with long-standing quotas and minimum pricing being jettisoned by the European Commission in favour of liberalisation of the market.
Armenian Prime Minister Nikol Pashinyan has asked the Russian president for help in securing his country. The Armenian Foreign Ministry announced on Saturday (October 31st) that Prime Minister Nikol Pashinyan had officially asked Russian President Vladimir Putin to launch an “urgent consultation” on ensuring Armenia’s security.
U.S. stock technology stocks suffered “Black Friday”. On Friday, Eastern Time, the three major US stock indexes closed down collectively. The Dow once fell more than 500 points. The Nasdaq’s biggest intraday drop exceeded 3%, and the late decline narrowed.
On Wednesday, the U.S. Census Bureau released a preliminary report on data pertaining to wholesale inventory for the month of September. Wholesale inventory in the United States was shown to have decreased by 0.1% in September. This is compared to a 0.3% increase in August, which itself was revised from 0.4%.
The President of Turkey, Recep Tayyip Erdogan, implored the citizens of his country Monday not to buy products from France. His remarks came in retaliation for the strong position taken by France against Islamic groups, following the beheading of one of its teachers by a radical Muslim young man.
The executive committee of the Christian Democratic Union (CDU), which is Germany’s ruling party, has settled on the decision to postpone its national congress that had initially been scheduled for December 4. The primary aim of the congress was electing its new leader, and successor to German Chancellor Angela Merkel.
In separate meetings with his Azeri and Armenian counterparts, US Secretary of State Mike Pompeo called for an end to the war in Nagorno-Karabakh. Azerbaijan has stated that it is ready to resume political talks after the occupation of Nagorno-Karabakh by Armenia.
The German government has approved a bill allowing intelligence agencies to “listen” to encrypted messages of users of messengers like WhatsApp in order to fight terrorism, according to SecurityWeek. Users of these apps may have their future and past messages searched if the bill passes.
Russian President Vladimir Putin said Thursday that he personally intervened and okayed the evacuation of Russian opposition politician Alexei Navalny to Germany to be treated, following pleas from his wife after he was allegedly poisoned. Putin spoke via video conference at a discussion forum in Moscow.
German Chancellor, Angela Merkel on Saturday Oct 17th, called upon the Germans to stay at home as the country is experiencing a new wave of the coronavirus pandemic. Merkel opined that the country is in a difficult phase of the pandemic and infections are increasing faster over the last three days, than in spring.
According to the World Health Organization (WHO), there are currently more than 7.2 million cases of new coronavirus across Europe, and the number of hospitalizations is increasing at an alarming rate. European stock markets fell across the board.There were more than 30,000 new confirmed cases in France in a single day on Thursday.
Earlier this week, Reuters reported that Japanese wholesale prices fell by 0.8% in September, marking the seventh consecutive month of year-on-year declines. Prices also declined by 0.2% as compared to August, the first on-month decline in Japan in four months. Their data was courtesy of the Bank of Japan (BOJ).
Russian opposition leader Alexei Navalny was poisoned in August. As a result, the future of the Nord Stream 2 natural gas pipeline has been questioned. There is an attempt to simultaneously put pressure on Russia as part of the package of sanctions for the Navalny poisoning and not use these sanctions against Nord stream 2.
After the poison attack on Kremlin critic Alexei Navalny, the European Union is launching new sanctions on Russia. The foreign ministers of the EU countries agreed on Monday at a meeting in Luxembourg to begin the necessary preparations. In addition to travel restrictions for certain people, these could also include economic sanctions, for example.
Germany’s capital city, Berlin on Saturday ordered the closure of all bars and restaurants therein between 11.00 PM and 06:00 AM effective from Saturday as a measure aimed at halting COVID-19 infections therein. The sale of alcoholic beverages at service stations as well as in supermarkets as from 23:00 was equally banned.
Scientists regularly turn to the animal world for inspiration, especially when they are working to improve the aerodynamic characteristics of aircraft. European scientists who study aerodynamic forces have discovered several interesting areas of future work, inspired by fish scales. Such structures can reduce the drag of aircraft by as much as 25 percent.
India’s GDP has just dropped by a whopping 24% in the last quarter, one of the biggest drops globally. The core reason for this significant decline was that India had one of the strictest COVID 19 economic lockdowns in the world.
This greatly and negatively affected the livelihoods of millions of Indians. So what can Indians do to repair their economy and increase lost incomes for their millions of citizens? A study has shown almost all countries need to grow and establish new Global Value Chains (GVC). Almost nothing has been proven better to raise incomes and reduce poverty, while requiring very little government involvement or costs.
Many industries and sectors across the global economy have greatly suffered as a result of the coronavirus pandemic and the associated recession caused by the Great Lockdown. Demand for some goods and services has simply collapsed, while in other areas, the means of distributing them to retailers or consumers has been severed or greatly disrupted.
Russian opposition politician Alexey Navalny on Wednesday called upon the European Union to impose tough sanctions on key figures in Russian President Vladimir Putin’s government, as well as his inner circle. His proposed sanctions would include entry bans in response to Navalny’s poisoning.
The Organization for the Prohibition of Chemical Weapons (OPCW) made an announcement Tuesday to the effect that it had discovered Novichok-like substances thanks to tests it had conducted on Russian opposition politician, Alexei Navalny. He was hospitalized in Berlin after he was allegedly poisoned.
Indonesia is the largest economy in Southeast Asia, both in terms of population (267 million people) and economic size with a GDP of $1.12 Trillion.
Can this archipelago’s future economic growth match demographic youthful transition for the next few years with an average age of their citizens at 30.5 years? Studies have shown and Indonesia needs to expand their global value chain, as it has been proven to raise incomes and reduce poverty.
Just as it has become kind of a norm in Belarus every weekend, tens of thousands took to the streets today demanding that Lukashenko must step down as the nation’s president. It’s estimated that about 100,000 people took part in today’s demonstrations against President Alexander Lukashenko despite the heavy security deployed by the authorities.
The coronavirus pandemic, and the associated Great Lockdown designed to contain it, have wreaked havoc on the global economy throughout 2020. The global wholesale market is no exception. Forecasters believe this typically robust market will experience an industry-wide decline over the course of the year.