Trade deals eu

(Representative image: Reuters) A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention to the severe economic turbulence looming over the coming months as the full impact of Russia's war sinks in and the threat of recession rises. The EU's 27 leaders gathered in Brussels to grapple with surging inflation, energy shocks, dwindling business and consumer confidence, and growing budget pressures. The leaders also will have to contend with higher borrowing costs as the European Central Bank prepares to raise interest rates for the first time in 11 years to counter runaway price increases. ECB President, Christine Lagarde, who plans to raise rates next month and again in September, joined the EU summit to discuss the darkening economic outlook. Swedish Prime Minister Magdalena Andersson said, "We are in a difficult situation, its very important that we have this discussion." The EU has spent the previous decade battling … [Read more...] about EU leaders tackle inflation, energy shocks from Russia’s war

- A + A LONDON/NEW YORK (June 24): Global dealmaking is entering an arid season as raging inflation and a stock market rout curb the appetite of many corporate boards to expand through acquisitions. Russia's invasion of Ukraine in February and fears that an economic recession is looming dealt a blow to merger and acquisition (M&A) activity in the second quarter. The value of announced deals dropped 25.5% year-on-year to US$1 trillion, according to Dealogic data. "Companies are standing back from M&A in the short term as they are more focused on the impact of a recession on their business. The timing for dealmaking will come but I don't think it's quite there yet," said Alison Harding-Jones, Citigroup Inc's EMEA M&A head. M&A activity in the United States plunged 40% to US$456 billion in the second quarter, while Asia Pacific was down 10%, Dealogic data showed. Europe was the only region where dealmaking didn't crash. Activity was up 6.5% in the … [Read more...] about Global M&A braces for dry spell as boardrooms put expansion on hold

- A + A A weekly round-up of tanker and dry bulk market (June 24, 2022) This report is produced by the Baltic Exchange. The Baltic Exchange, a wholly-owned subsidiary of Singapore Exchange, is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 650 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic. For daily freight market reports and assessments, please visit www.balticexchange.com . Capesize The Capesize market was unable to carry the rally from last week as rates were seen to dip sharply this week with the 5TC down 4901 to US$19,875. Trade activity throughout the week came in fits and starts with the market struggling to settle. While activity in the Pacific was moderate and the Atlantic was heard to be tightening on tonnage, the financial … [Read more...] about Baltic Exchange shipping updates: June 24

New York (CNN Business) It's a bad news is good news day on Wall Street again. Stocks soared, and are set to finish the week with solid gains, after a key economic report showed a record low in consumer confidence levels. Investors cheered the drop in the University of Michigan's consumer sentiment reading in June. Why? Growing recession fears may mean that the Federal Reserve, which has begun to aggressively hike interest rates to fight inflation, could reverse course by the end of 2023 and cut rates again in order to deal with a slowing economy. The Dow surged more than 650 points, or 2.2%, in late morning trading Friday and is now up 2.6% for the holiday-shortened trading week. The US market was closed Monday in observance of Juneteenth. The S&P 500 and Nasdaq both rose more than 2% as well. The S&P 500 has risen more than 3% in the past four days while the Nasdaq has shot up 4%. All three indexes are on track to snap three-week … [Read more...] about Stocks surge even though consumers feel lousy. Here’s why

Share to Twitter Share to Linkedin In recent years, a great deal of attention has been paid to using legally mandated quotas to bring about greater gender and racial equality in the leadership ranks of businesses and professional organizations. On their face, such quotas seem to offer an effective and quick route to equality. After all, nine European countries have successfully used gender quotas to increase the diversity of the leadership of their domestic corporations. For example, corporations based in France, Norway, Sweden, and Italy now have over 35% women on their boards of directors, and in France—where corporations are subject to the most rigorous quotas—almost 45% of board members are women. In May, the European Union proposed requiring most corporations headquartered in EU member states to have at least 40% women as non-executive directors, or at least 33% women among all directors. In the United States, the best known effort to impose legally … [Read more...] about Mandated Quotas Won’t End Inequalities In Business Leadership

Share to Twitter Share to Linkedin General Motor GM s Co. dealers will have the opportunity to install automated drive-through inspection stations under a deal announced Wednesday between the automaker and Israeli technology company UVeye. Under the agreement, GM's capital investment arm, GM Ventures, has made an investment in UVeye to help fund the development and commercialization of its inspection technology. At the same time, the automaker itself entered into an agreement with UVeye to look into installing the inspection systems at its 4,000 dealerships. Several GM dealerships are already using the systems, said Dave Marsh, general manager, GM customer service and satisfaction during a briefing in Birmingham, Mich. While the automaker will “facilitate” placement of the inspection stations, it won't subsidize the costs of installation or the monthly subscription fees for the service, he said. “GM becomes the fourth OEM to invest in the … [Read more...] about General Motors Investment Could Bring In Instant Inspection Stations To Dealerships

Conny Braams from Unilever; Dara Treseder from Peloton; Forbes CMO Hall of Famer Antonio Lucio; and Frank Cooper III from Visa. Illustration by Alexander Wells for Forbes. Recognizing the 50 Most Influential CMOs in the World By Seth Matlins , Managing Director, Forbes CMO Network Additional reporting by Diane Brady , Emmy Lucas , Olivia Peluso , Lauren Debter , Isabel Lord , Katherine Dunn T wo hundred years before it was first used as a verb, “influence” was a noun denoting the stars’ ability to affect human lives and destinies. Today, we consider “influence” less astrologically and more practically, focusing on the chief marketers who wield it to shape the character and destinies of the brands and businesses they help steward. The link between marketing and influence has always been inextricable. After all, a chief marketer’s job is about nothing more than it is the influencing of attitudes and behaviors in … [Read more...] about The Forbes World’s Most Influential CMOs List: 2022

- A + A NEW YORK/BENGALURU (June 24): US stock index futures rose on Friday, as signs of slowing economic growth and falling commodity prices eased expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Fears that aggressive tightening by major central banks will cause a sharp economic downturn have roiled financial markets this month, pushing the benchmark S&P 500 to confirm a bear market or a 20% fall from its recent peak. Data on Thursday showed US business activity slowed considerably in June, driving investors to scale back bets on where interest rates may peak and bring forward their views on the timing of rate cuts. Money markets see US interest rates peaking at around 3.4% by next March, far below the just above 4% priced for June 2023 before last Wednesday's Fed meeting. Copper prices on Friday were set for their biggest weekly fall in a year and other industrial metals also tumbled, while crude oil was headed … [Read more...] about Futures rise as investors scale back rate hike expectations

UNITED NATIONS (Reuters) - There is a "real risk" of multiple famines this year, U.N. chief Antonio Guterres said on Friday and urged ministers meeting on food security to take practical steps to stabilize food markets and reduce commodity price volatility. "We face an unprecedented global hunger crisis," Guterres told the meeting in Berlin via video. "The war in Ukraine has compounded problems that have been brewing for years: climate disruption; the COVID-19 pandemic; the deeply unequal recovery." More than 460,000 people in Somalia, Yemen and South Sudan are in famine conditions under the Integrated Food Security Phase Classification (IPC) - a scale used by U.N. agencies, regional bodies and aid groups to determine food insecurity. This is the step before a declaration of famine in a region. Millions of people in 34 other countries are on the brink of famine, according to the IPC. "There is a real risk that multiple famines will be declared in 2022. And 2023 could be … [Read more...] about World faces unprecedented global hunger crisis, U.N. chief says

Share to Twitter Share to Linkedin Back in November, Duke guard Trevor Keels scored 25 points when the Blue Devils beat Kentucky in the Champions Classic at Madison Square Garden. Playing alongside eventual No. 1 pick Paolo Banchero, the 6-foot-5 Keels was the biggest surprise of the evening as he dominated his defenders by using his Ron Dayne-like frame to get to the basket a 10-of-18 shooting night. “This kid right here is going to be a great player,” Duke coach Mike Krzyzewski said that night. “Trevor is going to be a great player, he weighs 230 pounds and if he was a running back he would know how to pick holes. He gets fouled, he doesn’t charge very much because he’s so low and has great body control. For three straight years, he was probably the best player in the DC area.” Seven months after that game, the Knicks drafted Keels with the No. 42 pick in the NBA Draft and are bringing him back to the Garden. The Kentucky game was arguably his … [Read more...] about Knicks Draft Duke’s Trevor Keels, Who Dropped 25 Points At Madison Square Garden