inflation

Summer of sport to help revive global beer sales

by
Summer of sport to help revive global beer sales

Global brewers are expected to see an increase in beer sales this year, with factors like sports events, slower inflation, and weather patterns contributing to the growth. Heineken and Carlsberg have already reported higher volumes after a period of decline, while Anheuser-Busch InBev’s sales were impacted by a boycott but are expected to improve. Price increases have been the main driver of revenue growth in recent years, but with cost increases easing, volume growth is expected to become a more significant revenue driver. This shift is also expected to help improve margins for brewers.

Cybersecurity levy, other taxes to fuel inflation and impede business growth – CPPE

by
Cybersecurity levy, other taxes to fuel inflation and impede business growth – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) in Nigeria has stated that the newly introduced cybersecurity levy and other taxes are impeding businesses’ capacity to drive economic growth, leading to job losses and inflation.

USD surges as Fed expected to prolong policy rates

by
USD surges as Fed expected to prolong policy rates

The U.S. dollar-yen pair is trading around 155.30 in European markets on Wednesday, with the possibility of the Federal Reserve prolonging higher interest rates contributing to the Greenback’s strength. President Kashkari’s remarks suggest anticipation of unchanged interest rates for a considerable period, while interventions by Japanese authorities to support the JPY have only provided temporary relief.

Upswing in UK services firms points to renewed economic growth

by
Upswing in UK services firms points to renewed economic growth

British services companies reported the strongest upswing in activity in almost a year during April, with the S&P Global UK Services Purchasing Managers’ Index rising to 55.0, its highest level since May 2023. The survey also showed a robust increase in new orders and the biggest acceleration of cost pressures since August. This increase in costs was attributed to a 10 per cent increase in the national minimum wage in April, leading to a slowdown in employment growth. The UK economy is expected to grow at a quarterly rate of 0.4 per cent, pulling further out of last year’s shallow recession. The composite PMI, which combines services and manufacturing data, rose to 54.1 from 52.8 in March, marking a one-year high.

IRS Modernization Efforts Pose Challenges as Enterprises Embrace eFiling  

by
IRS Modernization Efforts Pose Challenges as Enterprises Embrace eFiling  

The IRS is undergoing digital transformation efforts to modernize its systems and processes, including the development of the Information Return Intake System (IRIS) for online 1099 filing. This modernization aims to reduce errors, improve processing times, and shift away from legacy systems like FIRE. The transition to IRIS may require companies to adapt their operations and technology to comply with new filing formats and processes.

GBPUSD rises on dovish Fed sentiment

by
GBPUSD rises on dovish Fed sentiment

The GBPUSD pair is trading around 1.2550 in Asian markets on Monday, with the Sterling-Dollar appreciation attributed to recalibrated expectations for Federal Reserve interest rate cuts in 2024 following lower-than-expected US jobs data. The US economy added 175,000 jobs in April, signaling a slowdown from the previous month. The Fed is now expected to enact its initial rate cut in September, while the Bank of England is expected to maintain rates unchanged at 5.25% during Thursday’s meeting. Investor sentiment regarding interest rate cuts by the BoE has been postponed to September due to concerns about robust wage growth in the UK. BoE Governor Andrew Bailey expressed optimism about meeting the 2% inflation target.

Oil prices under pressure due to slower economies

by
Oil prices under pressure due to slower economies

Oil prices are trading down due to disappointing economic data and a rise in US crude oil inventories.

Weak demand, new model ramp up hit Europe, ’s top automakers

by
Weak demand, new model ramp up hit Europe, ’s top automakers

European car giants Volkswagen, Mercedes-Benz, and Stellantis all posted lower sales and first-quarter revenue due to higher costs, weaker demand for new cars, and the upcoming launch of new models.

Pierre Poilievre: Memo to corporate Canada – fire your lobbyist. Ignore politicians. Go to the people

by
Pierre Poilievre: Memo to corporate Canada - fire your lobbyist. Ignore politicians. Go to the people

The text discusses how business leaders are getting closer to high-tax, anti-resource Liberals.

UK factories slip back into downturn as cost pressures rise, PMI shows

by
UK factories slip back into downturn as cost pressures rise, PMI shows

British manufacturing fell back into contraction in April, with the S&P Global UK Manufacturing Purchasing Managers’ Index (PMI) falling to 49.1.