1) The IMF (International Monetary Fund) has reduced their forecasted for world economic growth from 3.5% to 3.3%, which is the third reduction since last October. It forecasted 2.3% growth for the US economy, as well as reduced growth forecast for Germany and Great Britain.
2) Walmart is rolling out thousands of robots for use in their retail stores across America. These robots will automatically scan shelves and clean floors. With a million employees, Walmart is seeking ways to keep labor cost down.
3) Bank of America is raising it’s minimum wage to $20 an hour over the next two years. Starting the first of May, the rate will increase to $17 per hour. The bank has 205,000 employees.
4) 9 APR 19 Stock market closings: Markets pulled down by industrial sector.
Dow 26,150.58 down 190.44 Nasdaq 7,909.28 down 44.61 S&P 500 2,878.20 down 17.57
1) Study finds that Generation-X and Millennials are disillusioned and worried about their careers and future. They are working hard and long hours with little to show for it, worried about layoffs and no longer being needed, and therefore having to start over again. Also fears of little for their retirement.
2) This week may well be the most significant week since Great Britain went to war in World War II. The Prime Minister admits to not having enough votes for the exit plan. Parliament is working on its own exit plan, while the British people are now deeply divided as a ‘exit crash out’ is quickly approaching.
3) The laws of economics threatens to doom many American coal electric plants, amid claims that it’s cheaper to do renewable energy technology than to update coal plants. These doubtful power plants represents 211 gigawatts of power generation, or about 74% of coal fired plants in America.
4) 25 MAR 19 Stock market closings:
Dow 25,516.83 up 14.51 Nasdaq 7,637.54 down 5.13 S&P 500 2,798.36 down 2.35
UK elections are drawing closer, and the British pound is very volatile as the elections progress in the country. The pound sterling dissipated this past Friday, (May 26th, 2017) as new election polling data from the United Kingdom, showed that Prime Minister Theresa May was in the forefront of the general elections by a mere 5 points. During the course of 2017, Prime Minister May had been leading her challengers by over 20 points. The drop has been placing the sterling silver on a roller coaster ride.
May who has a majority currently in national parliament and local branches of government, is now seen as not being able to hold a wider majority throughout the country as anticipated. If this becomes a reality then the Torres (Prime Minister May’s party) will have a smaller faction, then they had in 2015-2016 elections; which can then translate in a downward trend for the currency. -SB
South Africa has been hit the hardest from the fall out of Great Britain leaving the European Union. According to Moody’s, the international rating agency, South Africa capital short term, sees investors capital outflowing. Their exposure of global capital markets and investors pouring out cash from the country makes S. Africa very vulnerable. South Africa relies on capital going into the country to fund municipal projects and other government projects.
S. Africa currency underperformed after the Brexit vote in Sub Saharan Africa. South Africa depends on investors money to fund governmental projects and other national resources. -SB