Its The Economy, Stupid - Economic & Business News From Around The World

Fwiffo

Fwiffo

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Grand Potentate said:
so you mean you expect that companies will be profiting off the backs of the common man and then companies will report on it?
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I mean the media will moan companies are profiting off the backs of the common man.
 
Fwiffo

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www.nbcnews.com

Disney raises streaming prices after services post a big operating loss

Starting Dec. 8 in the U.S., Disney+ with commercials will be $7.99 per month — currently the price of Disney+ without ads.
www.nbcnews.com www.nbcnews.com

Basically no one is making money by creating original content and streaming it for a monthly membership plus catalogue films and shows.

Understandably streaming shows are higher quality than broadcast television now and films are still hit or miss, but the business model to fund the creation of all this (perhaps too abundant) content is flawed.
 
Grand Potentate

Grand Potentate

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very interesting thread on the nation's strategic oil reserves and how it looks like Biden is goosing oil prices downward with our stockpile and we'll run out in March causing massive inflation.
 
Grand Potentate

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Subscribe to read | Financial Times

News, analysis and comment from the Financial Times, the worldʼs leading global business publication
www.ft.com www.ft.com

Pound hits 37-year low against dollar as UK recession fears mount​

Sterling briefly dips below $1.14 after retail sales data showed sharpest fall in more than a year
 
Fwiffo

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www.bbc.com

Recession: Is the US heading into an 'ugly' downturn?

With stocks tanking and grocery bills high, many Americans feel like the economy is in a recession.
www.bbc.com

"US GDP has fallen for two consecutive quarters - 1.6% during the first quarter of 2022, and 0.6% the next. In most countries, that's a recession. Just not in the US.

The official recession call is made by the Business Cycle Dating Committee - a little-known group of eight economists chosen by the National Bureau of Economic Research, a non-profit organisation. And so far, the committee has refused to use the R word."

It will officially be a recession after both political sides have finished using and abusing the statistics for the midterm election.
 
Grand Potentate

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Fwiffo

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www.bbc.com

Fed rate hike: US interest rates hit 14-year high in inflation battle

The US unveils another sharp rate rise as it fights to bring soaring prices under control.
www.bbc.com

"But the 30-year-old works in the home loan industry, which has seen business plunge as mortgage rates cross 6% for the first time since 2008.
He said he feared losing his job 'every single day' and was cutting back spending and scrapping holiday plans amid the uncertainty.
'I don't know what 2023 is going to bring,' he said. 'All of that weighs heavily - not just on me, on everybody.'
'I don't know how stalling the economy is helping anyone.'"

For someone who works in the home loan industry, how can he think printing more money and showering the economy with at low interest rate is a long term solution?

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Fwiffo

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www.bbc.com

Chinese yuan: Currency hits record lows against US dollar

Major stock market indexes in Asia, including Japan and Hong Kong, also fell sharply on Wednesday.
www.bbc.com

www.euronews.com

British pound hits record low against US dollar

It dipped as low as $1.0349 per US dollar early Monday but then rebounded to $1.07.
www.euronews.com www.euronews.com

If only everyone was as aggressive as the States with increasing interest rates.

www.reuters.com

C$ slides to 2-year low as Fed eyes higher end-point for rates

The Canadian dollar slumped to a two-year low against its U.S. counterpart on Wednesday before paring its decline, as investors weighed the Federal Reserve's plans to continue raising interest rates to tackle inflation.
www.reuters.com www.reuters.com

Nope.
 
Fwiffo

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www.livemint.com

Recession Trigger? Credit Suisse 'free fall' a reminder of the Lehman moment

Explained whether continuous fall of No. 2 Swiss bank and one of the largest global investment banks, Credit Suisse can trigger a global financial turmoil similar to the Lehman moment
www.livemint.com www.livemint.com

“Today, its market value is only $10.4 billion and the shares have fallen 56.2%.

October 27 is being seen as the D-Day for the bank where the CEO is expected to present a strategic plan to avoid filing for bankruptcy. This should include the divestment of investment banking activities, the black sheep, speculate the markets. Analysts have estimated Credit Suisse needs to raise $4 billion Swiss francs ($6.3 billion) even after selling some assets to fund its restructuring, growth efforts and any unknowns, a Bloomberg report stated.”

www.cnbc.com

Credit Suisse to remain 'under pressure' but analysts wary of Lehman comparison

Credit Suisse shares briefly sank to an all-time low on Monday while credit default swaps hit a record high.
www.cnbc.com www.cnbc.com

”The bank’s share price is down more than 73% over the past five years, and such a dramatic plunge has naturally led to market speculation about consolidation, while some of the market chatter ahead of the Oct. 27 announcement has focused on a possible hiving off of the troublesome investment banking business and capital markets operation.”

There are experts on here who can comment on it better.

If you have a market cap of 10B and 730B in assets and you are asking for 4B or more to restructure why wouldn’t I just buy you out, take the lucrative pieces and then leave the shell and the staff as unsalvageable toxic crud for the Swiss government to bail out?
 
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