News from October 2021
Stagwell announces partnerships, Latin America expansion
By Emily Bevard | Oct 7, 2021
Stagwell announced an expansion of its presence throughout Latin America Sept. 30, following the creation of a new partnership between Allison+Partners and Grupo Garnier.
'We are delighted': Coco Republic expands with STORY3 partnership
By Glenn Minnis | Oct 7, 2021
Australia home furnishings giant Coco Republic has partnered with Los Angeles based STORY3 Capital Partners in a venture designed to jumpstart the company’s domestic and international expansion plans.
Avantive expands global reach with South African partnership
By David Beasley | Oct 7, 2021
Avantive Solutions, a U.S. based technology and business services company, is expanding its global reach with a new partnership in South Africa, according to a news release.
Spire Global announces acquisition of exactEarth
By Ariana Chiarenza | Oct 7, 2021
Spire Global announced Sept. 14 the company plans to acquire exactEarth for approximately $161.2 million in stock.
Statement by the IMF Spokesperson on the Ongoing Review by the IMF Executive Board on the Investigation of the World Bank’s Doing Business 2018 Report
By Alistair Thomson | Oct 6, 2021
Washington, DC: The IMF Executive Board met today with IMF Managing Director Kristalina Georgieva as part of its ongoing review of the matter raised by WilmerHale’s investigation of the World Bank’s Doing Business 2018 report.
Sticking to the plan: OPEC and allies increase production gradually despite rising prices
By David Beasley | Oct 6, 2021
The Organization of the Petroleum Exporting Countries, Russia and their allies, a group known as OPEC+ , stuck to its plan Monday of gradually increasing oil production.
GDP increased overall in the second quarter in all 50 states, D.C.
By Art Benavidez | Oct 6, 2021
The real gross domestic product (GDP) increased at an annual rate in all 50 states and the District of Columbia in the second quarter of this year, according to a recent report by the U.S. Bureau of Economic Analysis.
COVID-19-caused chip shortage cripples auto production in U.S.
By John Sammon | Oct 6, 2021
A shortage of semiconductor chips used in the production of vehicles is set to cost the auto industry big time.
BEA: August goods and services deficit up from July's numbers
By Press Release | Oct 6, 2021
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced Oct. 5 that the goods and services deficit was $73.3 billion in August, up $2.9 billion from $70.3 billion in July, revised.
ANZ appoints Simon Ireland as managing director for international operations
By Globe Banner | Oct 6, 2021
ANZ has announced the appointment of Simon Ireland as Managing Director, International.
AirBnB pledges to double the number of Afghan refugees it will house
By Carrie Bradon | Oct 6, 2021
Since the withdrawal of U.S. troops in Afghanistan and subsequent fleeing of Afghans seeking political asylum, Airbnb has pledged to house up to 40,000 individuals seeking places to live.
Infolob opens its first office in Dubai targeting Oracle Cloud business in UAE
By Zachary Richter | Oct 5, 2021
Infolob Solutions has completed the registration needed to operate as an IT service vendor in the United Arab Emirates and opened its first office in Dubai.
Expro and Frank's merge, creating new company, 'to create a new global leader '
By Carrie Bradon | Oct 5, 2021
Expro Group, an international services company, and Frank’s International N.V., a global oil services company, have merged, taking on the name Expro Group Holdings N.V., and giving them a greater scope of service for their customers.
Activision Blizzard agrees to $18M settlement, CEO Kotick says there's 'no place ... for discrimination, harassment, or unequal treatment '
By Carrie Bradon | Oct 5, 2021
Activision Blizzard is paying an $18 million settlement after being accused by a U.S. government agency of harassment and discrimination, stemming from claims of sexual harassment, retaliation for complaining about such actions and unfair compensation for female employees.
BEA News: U.S. International Trade in Goods and Services, August 2021
By 'Bureau of Economic Analysis' via News GlobeBanner | Oct 5, 2021
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services trade deficit was $73.3 billion in August, up $2.9 billion from $70.3 billion in July, revised.
Adient ends joint venture transactions, allowing the company to 'drive strategy independently in China'
By Emily Bevard | Oct 5, 2021
Adient has closed transactions, ending a joint venture with partner Yanfeng Automotive Trim Systems (YF), according to a Sept. 30 press release.
Caesars Entertainment enters into partnership with Clairvest Neem Ventures
By Emily Bevard | Oct 4, 2021
Caesars Entertainment Inc. has signed onto a partnership with Clairvest Neem Ventures (CNV) in its development and operating consortium for a Wakayama Marina City-based world-class integrated resort (IR).
Could cryptocurrency shake global financial markets?
By David Hutton | Oct 4, 2021
Currency under scrutiny as El Salvador becomes first country to accept it as legal tender
Lordstown Motors to sell Ohio plant to Foxconn for $230 million
By Ariana Chiarenza | Oct 4, 2021
Lordstown Motors announced on Thursday plans to sell its Ohio assembly plant to the Taiwan-based Foxconn for $230 million.
Ford to invest $7 billion on U.S. electric vehicle factories
By David Beasley | Oct 4, 2021
Ford Motor Co. is going all in on electric vehicles.