#dieWIRTSCHAFTSPRAXIS-VW.THINKTANK I NEWS.BLOG

Russian President Vladimir Putin said the newly expanded BRICS group showed that a “multipolar world” is being created, in a challenge to the US-dominated global order.

The world economy is set to rely even more heavily on the BRICS group of emerging economies to drive expansion, rather than their wealthier Western peers, according to the International Monetary Fund’s latest forecasts.

The recent retreat in consumer-price growth and the weakening of economic activity call for further interest-rate cuts by the European Central Bank, according to Governing Council member Fabio Panetta.

The European Central Bank has room to lower borrowing costs further as inflation approaches its target but must pay close attention to upside risks, according to Governing Council member Christodoulos Patsalides.

Beijing’s latest blitz of economic policy measures is designed more to mitigate risks than to provide broad stimulus in the near term, according to Haibin Zhu, chief China economist at JPMorgan Chase & Co.

Blackstone Inc. Chief Executive Officer Steve Schwarzman said the US is likely to avoid a recession regardless of who wins the presidential election, as both candidates have policy proposals that appeal to growth.

An increasingly dire euro-area economy might exacerbate slowing consumer-price growth, according to European Central Bank Governing Council member Olli Rehn.

Chinese President Xi Jinping and Indian Prime Minister Narendra Modi both praised expanding relations with Russia at bilateral meetings with President Vladimir Putin on Tuesday.

Goldman Sachs Group Inc. said the euro could drop as much as 10% versus the dollar if Donald Trump and the Republicans win next month’s US elections and enact high global tariffs and generous domestic tax cuts.

The number of layoffs at troubled Swedish battery maker Northvolt AB is now at around 1,200 following an announcement from the IF Metall union that more than 800 of its members will be let go from the firm’s key manufacturing site.

Russia’s role in the European Union’s liquefied natural gas market is growing, even as the bloc weighs how to clamp down on supplies from the nation.

The European Central Bank must be agile with further interest-rate cuts to avoid the risk of acting too slowly, according to Governing Council member Francois Villeroy de Galhau.

China should issue 2 trillion yuan ($281 billion) of special government bonds to help create a market stabilization fund, according to a top government-linked think tank.

Central bankers are concerned that Donald Trump will unleash a new trade war if he returns to the White House, making their job much harder.

The direction of European Central Bank borrowing costs is clear but the pace at which they’ll be lowered is still to be decided, according to President Christine Lagarde, who didn’t rule out bigger moves.

The International Monetary Fund lowered its global growth forecast for next year and warned of accelerating risks from wars to trade protectionism, even as it credited central banks for taming inflation without sending nations into recession.

Über das Vermögen des Wiener Immobilienentwicklers Lukas Neugebauer rund um die LNR-Gruppe ist am Handelsgericht ein Konkursverfahren eröffnet worden. Laut vorläufiger Gläubigerliste sind 32 Gläubiger mit Gesamtverbindlichkeiten in Höhe von 94 Millionen Euro betroffen.

Over 100 countries are straddling the geopolitical fault line. For many, it’s working

Federal Reserve Bank of San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market.

Federal Reserve Bank of Kansas City President Jeffrey Schmid said he favors a slower pace of interest-rate reductions given uncertainty about how low the US central bank should ultimately cut rates.

Federal Reserve Bank of Minneapolis President Neel Kashkari repeated that he favors reducing interest rates at a slower pace in the coming quarters.

Colombia became the latest Latin American country to raise tariffs on Chinese steel, as producers complain of the threat to local jobs from cheap imports.

Catch up: Blinken travels to Israel; airlines suspend flights to Iran

Trotz eines leichten Rückgangs von rund einem Prozent bei den Übernachtungen haben sich Tirols Touristiker am Montag bei der Bilanz zur bisherigen Sommersaison zufrieden gezeigt. Es seien 20,3 Mio. Nächtigungen seien verzeichnet worden. Auch für den Winter gab man sich optimistisch.

Moldawien hat am Sonntag nicht nur eine Präsidentschaftswahl abgehalten, sondern auch über die EU-Annäherung des Landes abstimmen lassen. Das Votum dürfte nach einem Kopf-an-Kopf-Rennen knapp für die EU-Befürworter ausgegangen sein. Diese erlangten nach Auszählung aller Stimmzettel laut Wahlkommission 50,46 Prozent der Stimmen. Präsidentin Maia Sandu sagte, man habe „einen schwierigen Kampf“ auf dem Weg in die EU gewonnen. Zudem übte sie scharfe Kritik an Moskau, dabei bekam sie Rückenwind von der EU.

US stocks are unlikely to sustain their above-average performance of the past decade as investors turn to other assets including bonds for better returns, Goldman Sachs Group Inc. strategists said.

The European Central Bank remains flexible going into its final meeting of 2024, according to Governing Council member Peter Kazimir, who said disinflation is on a “solid footing” and more cuts in borrowing costs are possible.

Chinese banks cut their benchmark lending rates after easing by the central bank at the end of September, part of a series of measures aimed at reviving economic growth and halting a housing market slump.

Gold reached a record on Monday, with safe haven demand continuing to support prices as traders monitored escalating tensions in the Middle East and the increasingly tight US election race.