Daily Management Review
Economics

Deutsche Bank’s head warns of recession

Christian Sewing, the CEO of Deutsche Bank, cautioned that China posed a severe danger to Germany and that Europe needs big banks to compete with U.S. lenders. Germany "can no longer avoid recession," according to the chief executive of the major German bank, because of its excessive reliance on...

Bank of Canada raises key rate by 75 basis points

The Bank of Canada increased its benchmark interest rate by 75 basis points on Wednesday, reaching its highest level in 14 years while announcing the need for additional increases to tackle high inflation. Following its regularly scheduled meeting, the Bank of Canada increased its interest rate...

A Large Rate Hike Could Be Implemented By European Central Bank With The Slowing Of The Economy Toward A Recession

Due to the rising cost of living, which is on the verge of increasing even further, the European Central Bank is anticipated to frontload a number of rate increases and sacrifice regional growth.   Isabel Schnabel, a member of the ECB Executive Board, set the tone for this week's policy...

China's Trade Suffers As Domestic And International Demand Declines

As rising inflation stifled international demand, new COVID restrictions impeded output, and heatwaves interrupted exports and imports, China's exports and imports lost steam in August, and consequently rate of growth missed predictions. This revived downside risks for the fragile...

Norway expects to deliver record gas volumes to Europe this year

According to Frode Leversund, CEO of Norwegian gas transport firm Gassco, Norway will supply record amounts of gas to Europe this year. Over the coming years, Norway will also export sizable amounts of gas to the EU. This year, Norway surpassed Russia to become the major gas supplier to Europe,...

Bayer to pay $40 million to settle drug claims

A former employee of Bayer, Laurie Simpson, sued the manufacturer in 2005 and 2006 for Bayer's deceptive advertising and medication sales practices. To resolve the claims, the medication manufacturer has agreed to pay $40 million to American authorities; Ms. Simpson will receive $11.1 of that...

Why Does Russia Influence European And British Gas Prices?

Russia postponed a Saturday deadline to reinstate flows through the Nord Stream 1 pipeline to Europe, citing a fault found during servicing, compounding Europe's difficulties in obtaining gas for the winter.   From August 31 to September 2, the Nord Stream 1 pipeline, which transports gas...

Energy Import Costs For Italy Likely To Double To 100 Billion Euros In 2022

The Italian government expects net costs for importing energy into the country will almost double this current year to about 100 billion euros ($99.5 billion), said the country’s economy minister, who also issued a caution about the country not being able to continue to spend for an indefinite...

Global Food Price Index In August Fell For The Fifth Consecutive Month

The UN Food and Agriculture Organization's world price index fell for the fifth month in a row in August, falling further from all-time highs reached earlier this year, as grain exports from Ukrainian ports resumed, contributing to improved supply prospects.   The Food and Agriculture...

Economic sentiment indicator in Eurozone falls to its lowest in 19 months

Eurozone's economic mood indicator hit its lowest level in 19 months. Analysts anticipated a less pronounced fall. According to the press office of the European Commission, the indicator of economic sentiment (ESI) in the countries of the euro zone declined for a month by 1.3 percentage points,...
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