Consumers and shoppers are increasingly spending their time and money on credit cards and online shopping, moving away from cash payments and physical retailers. This infographic explores the ‘showrooming’ trend, where shoppers visit a brick and mortar store to visit and ‘feel’ and item, before ultimately buying from an online retailer – usually with the help of a smartphone.
Cuba’s oil hopes are hanging on its last thread, reported the Associated Press on Tuesday, after Spanish oil Repsol announced its decision to cease all oil exploration efforts in the country following more than $100 million spent drilling only to hit a dry well.
Hundreds of thousands of unemployed Americans will see their unemployment benefits end sooner than expected despite Congress signing into effect an unemployment benefits extension through the end of the year.
June onwards, several states across the United States will reduce the number of extended unemployment benefit checks, as mandated by federal law, as unemployment rates are no longer on the rise.
Nearly a quarter of all European companies operating in China are considering a switch of their investments away from the country, claimed a survey by the European Union Chamber of Commerce on Tuesday, as higher labour costs and an increasingly difficult regulatory environment continue to weigh heavily on companies’ profit margins.
According to existing data from the Chinese Ministry of Commerce, foreign direct investment from the EU has already slumped in the first four months of 2012 – by 27.9 percent compared to the same period last year.
European and Asian markets rose today on fresh speculation that China is set to ramp up stimulus spending in order to avoid a sharp economic contraction. According to a report by Credit Suisse released Monday, the central bank injection could be as high as 2 trillion yuan ($315 billion).
The speculation came as China’s official Shanghai Securities News reported the country’s biggest banks appeared to have accelerated lending towards the end of this month as Beijing started to fast track its approval of infrastructure investments.
China’s Ministry of Finance will impose a duty on all oil shipments entering Chinese waters beginning from July this year, said the China Daily on Tuesday, with the proceeds set to go into a new marine pollution compensation fund to be utilised during an oil spill.
As European leaders scramble to find remedies for a debt crisis that is threatening to spiral out of control, hedge fund managers in the United States have been finding ways and means to profit from Europe’s troubles. According to fund managers interviewed by Reuters, “there are a multitude of strategies to play Europe’s troubles, and many different participants.”
The multi-billion dollar shale energy industry in the U.S. is indirectly triggering a massive rush to harvest guar beans in India, claimed a report by Reuters on Monday, as thousands of farmers seek to capitalise on what is now a key ingredient in the U.S. hydraulic fracturing process.
Greek politicians and citizens are enraged by International Monetary Fund Managing Director Christine Lagarde’s dismissive comments that Greeks are avoiding paying taxes. In an interview with the UK’s Guardian newspaper, Lagarde said that while she was sensitive of the plight facing Greece, “they should help themselves collectively by all paying their tax.”
The gathering of European leaders last week failed to bring any clarity on the euro’s future and outlook. Neither progress was made over the debt crisis, nor any commitment from eurozone leaders to prevent the imminent Grexit, or Greece’s exit from the euro. Until a decision is made, the euro and eurozone markets will continue in its vulnerable state, threatened by the weight of huge capital outflows.
Monday, May 28
