Ukraine war slams brakes on European car sales
European car sales sank in March as Russia's invasion of Ukraine added more problems to a sector already struggling with shortages of semiconductors, industry data showed Wednesday.
Apr 20, 2022
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Automotive
European car sales sank in March as Russia's invasion of Ukraine added more problems to a sector already struggling with shortages of semiconductors, industry data showed Wednesday.
Apr 20, 2022
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Automotive
Volkswagen said Friday its net profits jumped last year despite selling fewer cars due to the semiconductor shortage as buyers forked out for better-equipped cars.
Mar 11, 2022
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Business
Germany Siemens AG, global maker of big-ticket machines and industrial equipment and software, saw net profit rise 20% to 1.8 billion euros in the last three months of 2021 as the rebounding global economy increased orders ...
Feb 10, 2022
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Business
Shortages of semiconductor chips and other raw materials are continuing to hit Germany's manufacturers, as bottlenecks leave companies struggling to fill orders from a rebounding global economy.
Sep 24, 2021
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Business
China's regulatory efforts to increase control over its technology sector adds another "decoupling engine" to the global economy, which could weigh on Chinese growth prospects, the former head of the World Trade Organization ...
Sep 7, 2021
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Business
G7 countries that make up lucrative markets for US tech giants have moved closer to a plan to squeeze more tax money from the coffers of Amazon, Apple, Facebook and Google.
Jun 11, 2021
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Business
Proposed by the United States, supported by the IMF and welcomed by major economies including France and Germany, a global minimum tax rate on corporations is gathering momentum toward becoming a reality.
Apr 7, 2021
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Business
German industrial giant Siemens turned a page Wednesday as a new chief executive followed a restructuring drive after a year marked by falling sales due to the coronavirus pandemic.
Feb 3, 2021
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Automotive
America's love of big autos translated into blowout results Thursday for General Motors, which also benefited from recovering sales in China following a big hit amid the coronavirus pandemic.
Nov 5, 2020
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Business
General Electric reported a smaller quarterly loss Wednesday on lower revenues and a continued slump in aviation, but said it would be cashflow positive in 2021 following cost-cutting moves.
Oct 28, 2020
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The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). It is inseparable from the geography and ecology of Earth, and is therefore somewhat of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy – even if currently exploited in some way – and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention.
Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.
It is common to limit questions of the world economy exclusively to human economic activity, and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.
However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy, since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government. Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real US dollars. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 6.6 billion people have most of their economic activity reflected in these valuations.
This text uses material from Wikipedia, licensed under CC BY-SA