- Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households. The Edelman Trust Barometer found that economic pessimism was at its highest in some of the world’s top economies such as the United States, Britain, Germany and Japan.
- Global employment growth is expected to slow down sharply to 1% this year compared to 2% in 2022, hit by the economic fallout of the war in Ukraine, high inflation and tighter monetary policy, the International Labour Organization said.
- Japan’s annual wholesale prices rose at a faster-than-expected pace in December, data showed, adding to recent growing signs of inflationary pressure that could force the central bank to raise interest rates soon. The Bank of Japan is under pressure to change its interest rate policy as soon as Wednesday, after its attempt to buy itself breathing room backfired, emboldening bond investors to test its resolve.
- European traders are rushing to fill tanks with Russian diesel as the clock runs down on a February 5 European ban expected to tighten supplies, re-draw global shipping routes and increase price volatility. The ban is likely to create a diesel supply shortfall which Europe hopes to fill with Chinese fuel, some of which will be produced from Russian crude.
- Volkswagen wants to expand both its higher-end and lower-end offering in the Chinese market, China chief Ralf Brandstaetter said, calling the country’s high-paced, competitive market a “giant fitness center for the industry”.
- Financiers at the center of a $200 billion industry underpinning worldwide airline fleets are meeting in Dublin this week, gambling that China’s long-awaited decision to free travel will accelerate their recovery while warning of a shortage of jets.
|
|
|
/cloudfront-us-east-2.images.arcpublishing.com/reuters/ODXHLFSIMZPT7ASXZ3P4GA5VL4.jpg)
