Latest News
JPMorgan Chase invests $70 million for economic opportunity in France
By Globe Banner | Nov 29, 2023
JPMorgan Chase announced a $70 million initiative aimed at fostering economic opportunities for individuals and entrepreneurs in France. This venture, set to create the Spark France investment initiative, seeks to direct funds towards women-led organizations and those contributing to societal impact.
European business message for COP28 - All G20 countries should commit to 2030 targets
By Globe Banner | Nov 29, 2023
COP28, starting on 30 November in Dubai, is an important moment for international climate negotiations. BusinessEurope Director General Markus J. Beyrer emphasized the importance of all G20 countries committing to ambitious 2030 targets. Beyrer stated, "European business stands firmly behind the Paris Agreement. However, with the EU counting for 7% of current global CO2 emissions and only 4-5% by 2030, it is critical that all G20 countries agree to similarly ambitious 2030 targets. They must also commit to implementing concrete, transparent and reliable transformation...
Norway contributes NOK 9 million to WTO Fisheries Funding Mechanism
By Globe Banner | Nov 24, 2023
The World Trade Organization (WTO) announced Norway has committed NOK 9 million (about CHF 730,500) to the WTO Fisheries Funding Mechanism. This financial support from Norway, presented by WTO Ambassador Petter Ølberg to Director-General Ngozi Okonjo-Iweala, is intended to assist developing and least-developed members in effectively implementing the Agreement on Fisheries Subsidies. This move reinforces Norway's continued commitment towards global marine sustainability.
Business Message to Belgian EU Presidency: Tackle Short-Term Challenges and Empower European Economy
By Globe Banner | Nov 24, 2023
On November 24, 2023, the Presidents and Directors General of BusinessEurope’s member federations gathered in Brussels to present their priorities for the incoming Belgian Presidency of the Council of the European Union. BusinessEurope President Fredrik Persson highlighted the importance of the upcoming presidency, stating, "The European economy is growing even more sluggishly in the first half of 2023, and the six months of the Belgian Presidency will be crucial."Persson urged the Belgian Presidency to focus on finalizing proposals essential for the competitiveness and...
BusinessEurope Director General Markus J. Beyrer Welcomes European Parliament's Approval of EU-New Zealand FTA
By Globe Banner | Nov 22, 2023
BusinessEurope Director General Markus J. Beyrer welcomed the European Parliament's approval of the free-trade agreement between the European Union and New Zealand. Beyrer commented on the plenary vote, stating, "This is a welcome step in the EU’s efforts to diversify its sources of supply, create new export market opportunities, and to increase its economic resilience in the face of rising geopolitical tensions."Beyrer emphasized the significance of the trade agreement in strengthening the EU's presence in the Indo-Pacific region, noting that it is home to some of the...
The construction aggregates market in the US to grow by CAGR of 8.36%
By Globe Banner | Nov 19, 2023
Technavio released a report saying that the construction aggregates market in the US is expected to grow by $17.14 billion from 2023 to 2028. This substantial growth is primarily driven by an increasing interest in sustainable construction practices and government regulations.
The fish sauce market to expand by $915.54 million by 2028
By Globe Banner | Nov 18, 2023
Technavio released a report detailing the growth of the fish sauce market, which will be progressing at a CAGR of 6.83% during the forecast period of 2023-2028. The primary factor driving this growth is an increasing preference for convenience in cooking, as per the report.
Outdoor recreation contributes significantly to US economy: BEA report
By Globe Banner | Nov 17, 2023
The U.S. Bureau of Economic Analysis (BEA) has published new statistics on the outdoor recreation economy for 2022, covering all 50 states and the District of Columbia.
Personal Income Sees Varied Growth Across U.S. Counties and Metropolitan Areas in 2022
By Globe Banner | Nov 16, 2023
The U.S. Bureau of Economic Analysis (BEA) recently released statistics on personal income by county and metropolitan area for the year 2022. According to the BEA, personal income experienced fluctuations across different regions.In 2022, personal income saw an increase in 1,964 counties, a decrease in 1,107 counties, and remained unchanged in 43 counties. The metropolitan portion of the United States recorded a 2.1 percent increase in personal income, while the nonmetropolitan portion saw a 1.3 percent increase.The data revealed significant variations in personal...
EU Urged to Recognize Economic Migration's Role in Addressing Labor and Skills Needs
By Globe Banner | Nov 15, 2023
BusinessEurope Director General Markus J. Beyrer has emphasized the importance of economic migration in addressing Europe's labor and skills needs. Beyrer stated, “It is high time that the EU acknowledges the role of economic migration in helping to address Europe’s labour and skills needs.”Beyrer also highlighted the potential impact of the proposed Talent Pool, saying, “The proposed Talent Pool can be a game changer in making Europe a more attractive destination for the needed skilled workers from third countries around the world. Helping to match skilled third-country...
The global Glucagon-like Peptide 1 (GLP-1) market set to reach $18.75 billion by 2023
By Globe Banner | Nov 12, 2023
Ireland Research And Markets released a report detailing the growth of the Glucagon-like Peptide 1, or GLP-1, market which is predicted to grow at a CAGR of 6.48% during the projected period of 2022-2027.
Ahbap founder: Binance's donation for earthquake recovery shows how 'crypto can be harnessed for good'
By Globe Banner | Nov 10, 2023
Haluk Levent, founder of the Turkish nonprofit Ahbap, said Binance's donation will help support his organization's efforts to rebuild homes that were destroyed by the recent earthquake and also demonstrates how cryptocurrency and blockchain can support humanitarian efforts. Binance, the largest crypto exchange in the world, recently announced a crypto donation of $100,000 to help Ahbap construct earthquake-resistant steel homes in Turkey.
BusinessEurope Comments on EU Parliament Plenary Vote on EU Data Act
By Globe Banner | Nov 9, 2023
BusinessEurope Director General Markus J. Beyrer has commented on today's EU Parliament Plenary vote on the EU Data Act, emphasizing the importance of assessing its impact on the EU's global competitiveness. Beyrer stated, "Making data flows easier in Europe is a necessary step, but it will be key to assess the Data Act’s impact on the EU’s global competitiveness."Expressing the concerns of the European business community, Beyrer highlighted the need to prevent a chilling effect on data innovation investments in the EU. He stated, "The number one concern of the European...
US allocates $600,000 for developing economies' trade capacity-building
By Globe Banner | Nov 8, 2023
The World Trade Organization (WTO) has disclosed that the United States will provide a financial contribution of USD 600,000 (approximately CHF 535,000) in 2023 to the WTO's Global Trust Fund. This fund is designated to support training programs aimed at government officials from developing economies and least-developed countries (LDCs), according to a press release by WTO.
BusinessEurope Economic Outlook Reveals Significant Drop in European Business Sentiment
By Globe Banner | Nov 8, 2023
BusinessEurope Director General Markus J. Beyrer, upon the release of BusinessEurope’s Economic Outlook, expressed concerns about the current state of the European economy. Beyrer noted, "The European economy continued to grow even more sluggishly in the first half of 2023 as businesses were faced with the impact of higher interest rates, a slowing global economy, and increasing long-term competitiveness challenges." He highlighted that factors such as higher interest rates and increased credit standards have hindered investment and consumer spending, leading to a more...
On Tuesday, oil prices fell over 4%, marking their lowest point since July
By Globe Banner | Nov 7, 2023
Thomson Reuters reported the falling oil prices and weak demand within the oil market, as the dollar strengthens.
WTO says prompt food market information is a key to solving agriculture crises
By Globe Banner | Nov 7, 2023
The Agriculture Market Information System (AMIS) Global Food Market Information Group at WTO discussed the importance of timely food market information in solving multiple challenges in the food market, such as climate change, conflict, and other challenges.
Growing at an outstanding 11.7% CAGR, the work order management systems global market is set to reach record value
By Globe Banner | Oct 31, 2023
Research And Markets released a report detailing the intense growth of the work order management systems global market, noting its $634.5 Million in the year 2022 and impressive predicted increase to $1.5 BIllion by 2030. According to Cision's PR Newswire, "The global market for Work Order Management Systems estimated at US$634.5 Million in the year 2022, is projected to reach a revised size of US$1.5 Billion by 2030".
After a drawn-out strike, GM makes a deal with UAW, ending the conflict
By Globe Banner | Oct 31, 2023
After similar deals made by auto giants Ford and Stellantis, General Motors finally likewise writes a deal with the United Auto Workers union.
European Companies Face Critical Labour and Skills Shortages, New Survey Reveals
By Globe Banner | Oct 30, 2023
BusinessEurope today released findings from a recent survey of European companies, shedding light on the significant labour and skills shortages prevalent in the region. According to BusinessEurope Director General Markus J. Beyrer, "Our survey of European companies confirmed that they are facing growing labour and skills shortages. This is fuelled by three factors: demographic change, high rates of inactivity and low levels of intra-EU mobility. These shortages will continue to be Europe’s key labour market challenge in the coming years."The survey revealed that...