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Bodum CEO: Partnership with Starbucks based on 'mutual respect' from former CEO
By Globe Banner | Sep 10, 2024
Jorgen Bodum, CEO of Bodum USA, said his company's relationship with Starbucks was based on the "mutual respect" between himself and former Starbucks CEO Howard Schultz, which degraded when Schultz stepped down.
BusinessEurope endorses Draghi's report on EU competitiveness
By Globe Banner | Sep 9, 2024
Welcoming the much-anticipated report on the future of the EU’s competitiveness, presented by Professor Mario Draghi, BusinessEurope President Fredrik Persson expressed his support.
U.S trade deficit widens to nearly \$79 Billion as imports surge
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from $73.0 billion in June, revised.
U.S trade deficit rises to \$78\.8 Billion in July
By Globe Banner | Sep 4, 2024
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from a revised figure of $73.0 billion in June.
US Bureau reports rise in income and consumer expenditures for July
By Globe Banner | Aug 30, 2024
Personal income increased by $75.1 billion, or 0.3 percent at a monthly rate, in July 2024, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI), which is personal income less personal current taxes, rose by $54.8 billion (0.3 percent) and personal consumption expenditures (PCE) increased by $103.8 billion (0.5 percent).
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.