latest news in economy
South Korean Won Hits Two-Year Low as Inflation Stays Below Target
Seoul, Tuesday, 3 December 2024.
South Korea’s economy faces a complex scenario as November inflation rises to 1.5%, marking the third consecutive month below the central bank’s 2% target. Meanwhile, the won weakens to 1,428 against the dollar, reaching October 2022 levels. The Bank of Korea’s recent rate cuts and lowered inflation forecasts signal growing concerns about economic stability.
Ketones Market Set to Surge: Biohacking and Sports Nutrition Drive Growth to $918M
Global, Tuesday, 3 December 2024.
The ketones market is experiencing unprecedented growth, projected to reach $918.1 million by 2030. This 5.8% annual growth is fueled by increasing adoption in sports nutrition, weight management, and cognitive enhancement. North America leads the market expansion, with innovative supplement formulations and rising consumer awareness driving global demand. The solid ketones segment shows particular promise, expected to capture a significant market share with a 5.7% growth rate through 2030.
Biotech Firm Slashes Interest Costs with Strategic $75M Credit Deal
Montreal, Tuesday, 3 December 2024.
In a significant financial restructuring on December 2, 2024, Theratechnologies secured a $75M credit package from TD Bank and Investissement Québec, dramatically reducing interest rates from SOFR+9.50% to SOFR+2.75%. This strategic move is set to free up $19M in cash for 2025, positioning the company for aggressive business development in the biopharmaceutical sector.
Fed's Waller Signals December Rate Cut Despite Inflation Battle
Washington, D.C., Tuesday, 3 December 2024.
Federal Reserve Governor Christopher Waller expresses cautious optimism about a December rate cut, while acknowledging ongoing inflation concerns. Using a vivid MMA fighting analogy, he describes the Fed’s persistent struggle to control inflation, which remains stubbornly above the 2% target at 2.8%. This potential policy shift marks a significant turning point in the Fed’s monetary strategy for 2025.
Automotive Tailgate Market Set to Hit $17 Billion: Asia-Pacific Leads Global Growth
Los Angeles, Tuesday, 3 December 2024.
The automotive tailgate sector is undergoing a remarkable transformation, with Asia-Pacific emerging as the powerhouse driving global growth. The region, already commanding $4.81 billion in revenue, is expected to reach $7.94 billion by 2026, outpacing all other markets with a robust 6.6% CAGR. This growth is primarily fueled by increasing demand for electronic components and automated tailgate systems, particularly in luxury vehicles, despite challenges from high configuration costs.
Europe's Soaring Sick Leave Crisis: €200 Billion Annual Hit to German Economy
Brussels, Monday, 2 December 2024.
A dramatic surge in worker sick days is straining European economies, with Norway leading at record-high absence rates. Germany faces staggering annual losses of €200 billion, while employers’ sick leave costs doubled since 2010. Most concerning: workers on extended sick leave are more likely to permanently exit the workforce than return.
Electric Vehicle Pioneer Lion Electric Cuts 400 Jobs as Financial Crisis Deepens
Montreal, Monday, 2 December 2024.
Leading EV manufacturer Lion Electric faces severe financial turbulence, laying off 57% of its workforce and extending debt deadlines to December 16, 2024. With $293 million USD in debt, the Canadian company is now exploring options including potential sale or bankruptcy protection, raising concerns about the future of 1,300 electric school buses in Quebec.
Record-Breaking Cyber Weekend: US E-commerce Sales Surge 9% Despite Lower Discounts
United States, Monday, 2 December 2024.
Despite retailers offering smaller discounts averaging 28% (down 2% from 2023), US consumers drove a remarkable 9% growth in Cyber Weekend sales. Major retailers like Target, Amazon, and Best Buy led with strategic tech, appliance, and fashion deals, demonstrating strong consumer confidence in online shopping for the 2024 holiday season. This growth outpaces last year’s 6% increase, signaling a significant shift in holiday shopping patterns.
XRP's Historic Surge: Wall Street Giants Race for ETF Approval as Price Soars 404%
San Francisco, Monday, 2 December 2024.
In a remarkable turn of events, XRP has emerged as the third-largest cryptocurrency following a 404% surge since November 4, 2024. Major financial institutions including WisdomTree, Bitwise, and Canary Capital have filed for XRP ETFs, while SEC Chair Gensler’s announced January 2025 departure sparked an additional 36% price jump. The potential December 2024 ETF launch could reshape the crypto investment landscape, mirroring Bitcoin’s successful ETF debut earlier this year.
Mobile Device Management Market Set to Surge: 500% Growth Expected by 2032
Global, Monday, 2 December 2024.
A groundbreaking forecast reveals the mobile device management sector will expand from $10.49 billion to $51.13 billion by 2032. This remarkable 21.9% annual growth rate is driven by remote work trends, heightened security demands, and AI-powered innovations, transforming how businesses protect their digital assets.