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Tokenization of real-world assets poised for rapid growth, report finds
By Globe Banner | Aug 29, 2024
A report by Roland Berger in October 2023 announced the market value of tokenized assets is projected to surpass $10 trillion by 2030, signaling significant growth and adoption.
U.S economy shows growth as GDP rises by three percent
By Globe Banner | Aug 29, 2024
Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP increased by 1.4 percent.
US citizen’s 6 month detention in Nigeria alarms international business community
By Globe Banner | Aug 28, 2024
The six month detention of Tigran Gambaryan, a U.S. citizen and former federal agent, now employed by cryptocurrency exchange Binance, is raising concerns about Nigeria’s international business reputation and its attractiveness to foreign investors.
Employment and financial metrics of US multinational enterprises show growth in FY2022
By Globe Banner | Aug 23, 2024
Worldwide employment by U.S. multinational enterprises (MNEs) increased 2.2 percent to 44.3 million workers in 2022 from 43.3 million workers in 2021, according to statistics released today by the U.S. Bureau of Economic Analysis (BEA).
U.S trade deficit decreases slightly as exports outpace import growth
By Globe Banner | Aug 6, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.1 billion in June, down $1.9 billion from $75.0 billion in May, revised.
Puerto Rico's GDP decreased by 2.5% amid rising imports
By Globe Banner | Jul 31, 2024
Real gross domestic product (GDP) for Puerto Rico decreased by 2.5 percent in 2022 after a 4.1 percent increase in 2021, according to statistics released by the U.S. Bureau of Economic Analysis. The decrease in real GDP was attributed to an increase in imports, as well as declines in private fixed investment and exports. However, personal consumption expenditures, private inventory investment, and government spending saw increases.
Puerto Rico's GDP decreased by 2.5% in the year of economic challenges
By Globe Banner | Jul 31, 2024
El producto interior bruto real (PIB) para Puerto Rico decreció 2.5 por ciento en 2022, luego de crecer 4.1 por ciento en 2021, de acuerdo con las estadísticas difundidas hoy por el Negociado de Análisis Económico de EE. UU. (BEA). El decrecimiento en el PIB real en 2022 reflejó un aumento en las importaciones —que son un elemento de resta en el cálculo del PIB— así como decrecimientos en la inversión privada en capital fijo y en las exportaciones. Los gastos de consumo personal, la inversión privada en inventarios y los gastos de gobierno aumentaron.
Starbucks receives 'worst' possible rating from Ethical Consumer for supply chain management
By Globe Banner | Jul 29, 2024
Ethical Consumer, a consumer advocacy organization, gave coffee giant Starbucks its "worst Ethical Consumer" rating for its supply chain management, echoing concerns expressed by vendors and employees for years.
Business leaders outline priorities ahead of Hungarian EU presidency
By Globe Banner | Jul 28, 2024
The Presidents and Directors General of BusinessEurope’s member federations convened in Budapest today, hosted by the Hungarian member federation MGYOSZ – BusinessHungary. The gathering aimed to communicate business priorities for the European Union as Hungary prepares to assume the Presidency of the Council of the European Union. Key discussions were held with Tamás Sulyok, President of Hungary, Màrton Nagy, Minister for the National Economy of Hungary, and Enrico Letta, author of a recent report on the future of the Single Market.
Asia's emerging manufacturers urged to prioritize sustainability
By Globe Banner | Jul 25, 2024
Asian countries may face setbacks in their manufacturing ambitions if they fail to produce more sustainably from the outset and decarbonize swiftly. This warning comes as emerging manufacturing powerhouses in Asia look to emulate China's success while grappling with environmental challenges.
US direct investments abroad rose to $6T+; foreign investments hit new highs
By Globe Banner | Jul 23, 2024
The U.S. direct investment abroad position, or cumulative level of investment, increased by $364.0 billion to $6.68 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The increase reflected a $147.1 billion rise in the position in Europe, primarily in Ireland, Switzerland, and the Netherlands. By industry, holding company affiliates had the largest increase.
Foreign direct investment in US decreases by 28% in 2023
By Globe Banner | Jul 12, 2024
Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses reached $148.8 billion in 2023, according to preliminary data from the U.S. Bureau of Economic Analysis.
Study urges swift EU action to close Europe's growing energy price gap
By Globe Banner | Jul 4, 2024
A new, in-depth study published today by BusinessEurope, developed with economic consultancy Compass Lexecon, indicates that a more competitive energy and climate transition is still possible but only if swift action is taken by EU legislators during the next EU cycle.
India needs more women in workforce to meet economic goals
By Globe Banner | Jul 2, 2024
If India is to successfully double the size of its economy by 2030, the only viable path is raising the number of women in the workforce.
U.S. Virgin Islands sees economic contraction amid falling exports and investments
By Globe Banner | Jun 17, 2024
The U.S. Bureau of Economic Analysis (BEA) reported a 1.3 percent decline in the real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) in 2022, following a 3.7 percent increase in 2021.
European businesses urge new MEPs to prioritize competitiveness
By Globe Banner | Jun 11, 2024
BusinessEurope and the European business community have extended their congratulations to the newly elected Members of the European Parliament, acknowledging a strong voter turnout that underscores citizens' engagement with Europe.
Binance's user base surges to 200M
By Globe Banner | Jun 11, 2024
Binance’s user base has soared to 200 million. The company views its growth both as an achievement for the Binance community and the blockchain industry.
Marine economy's contribution to US GDP rises to $476 Billion in 2022
By Globe Banner | Jun 6, 2024
The U.S. Bureau of Economic Analysis (BEA) has released the Marine Economy Satellite Account statistics for 2022, revealing that the marine economy contributed $476.2 billion, or 1.8 percent, to the current-dollar U.S. gross domestic product (GDP). This marks an increase from $424.2 billion in 2021. The marine economy also accounted for 1.7 percent, or $776.9 billion, of current-dollar gross output.
BusinessEurope calls for renewed focus on EU competitiveness amid slight growth forecast
By Globe Banner | Jun 5, 2024
With the European elections approaching, BusinessEurope has released its Spring Economic Outlook, advocating for a reboot in EU policymaking to enhance Europe’s competitiveness and strengthen its industrial base.
BusinessEurope publishes recommendations on European Economic Security Strategy
By Globe Banner | May 30, 2024
BusinessEurope has published its position paper on a European Economic Security Strategy. BusinessEurope Director General Markus J. Beyrer stated, "At a time when the debate on the development of a European Economic Security Strategy is intensifying, BusinessEurope is publishing this paper to provide concrete recommendations on this topic. For us, the Strategy must be anchored in the principles of competitiveness and openness. The protection of vital security interests must not be used as cover for disguised protectionism, and it must not endanger the integrity of the Single...