Fortune (April 24)
“National governments are spending a record amount of money on defense and arms, as Russia’s invasion of Ukraine and a more complicated geopoltical environment push countries to buy more military equipment.” All told, defense spending grew by 3.7% in 2002. Roughly “half of that increase was due to a 640% surge in military spending by Ukraine, as the country quickly expanded its armed forces to defend against the invasion.”
Tags: Arms, Complicated, Defense, Environment, Geopoltical, Governments, Military equipment, Record, Russia, Spending, Ukraine
Bloomberg (March 5)
China’s reopening “means Chinese oil consumption is poised to hit a record this year. Daily demand will reach an all-time high of 16 million barrels a day,” and looks increasingly likely to tip the price back above $100 a barrel amid tight supply.
Tags: 100, 16 mmb/d, China, Consumption, Demand, Oil, Poised, Price, Record, Reopening, Tight supply, Tip
New York Times (February 24)
“The energy transition poised for takeoff in the United States amid record investment in wind, solar and other low-carbon technologies is facing a serious obstacle: The volume of projects has overwhelmed the nation’s antiquated systems to connect new sources of electricity to homes and businesses.” The interconnection system now faces a multiyear logjam of over 8,100 projects (mainly clean energy) “waiting for permission to connect to electric grids,” up from 5,600 a year earlier.
Tags: Antiquated, Electricity, Energy transition, Grids, Interconnection, Investment, Low-carbon technologies, Obstacle, Record, Solar, U.S., Wind
Forbes (November 27)
“It’s an omnichannel holiday!” This Black Friday weekend, Americans re-embraced “in-person shopping…returning to stores and malls in big numbers.” That did not, however, lessen their “love affair with online shopping.” On Black Friday, a “record $9.12 billion was spent online,” up more than 2% since 2021.
Tags: $9.12 billion, Black Friday, Holiday, In-person shopping, Malls, Omnichannel, Online shopping, Record, Stores, U.S.
Wall Street Journal (November 25)
“China’s zero-Covid reckoning” is approaching as “record infections and new lockdowns lead to rising public frustration and slower economic growth.” China’s economy is expected to slow further, “with growth estimates falling for the fourth quarter and the year below 3%. That’s assuming Chinese officials aren’t gilding the books. China’s official GDP target for this year had been 5.5%.”
Tags: China, Economy, GDP, Infections, Lockdowns, Public frustration, Q4, Reckoning, Record, Slower economic growth, Zero COVID
Nikkei Asia (October 31)
“A record sell-off of China stocks has revealed investors’ fears over the country’s largest companies after Xi Jinping secured his third term,” cementing his grip on leadership. Any hopes “that China’s down-beaten tech sector would revive” or that more open borders might “boost the economy were apparently dashed” when the CCP’s national congress affirmed a Politburo Standing Committee most “notable for a lack of reform-minded top leaders.”
Tags: Borders, CCP’s, China, Companies, Dashed, Down-beaten, Economy, Fears, Grip, Hopes, Investors, Leadership, Politburo Standing Committee, Record, Reform, Sell-off, Stocks, Tech sector, Xi
Institutional Investor (August 16)
“With everybody worried about a cash crunch, the private equity secondaries market is expected to hit a new record. Investors are expected to sell stakes in private equity funds worth $153 billion in 2023, according to the latest PE secondaries report from Lazard’s private capital advisory team.”
Tags: $153 billion, 2023, Cash crunch, Funds, Investors, Lazard, Private equity, Record, Secondaries market, Sell, Stakes
USA Today (June 12)
“A historic heat wave in the West was forecast to roll eastward this week after Phoenix, Las Vegas and Denver joined a plethora of cities and towns posting record temperatures and more than 50 million Americans sweltered under heat advisories.” Across a large swathe of the country, temperatures are “ranging from 10 to 30 degrees above normal for this time of year.”
Tags: 50 million, Denver, Heat advisories, Heat wave, Historic, Las Vegas, Phoenix, Record, Temperatures, U.S.
Investment Week (May 9)
“BP’s latest plan to buy back $2.5bn of stock this quarter has pushed forecasts for FTSE 100 firm buybacks to be on track for a record high in 2022. FTSE 100 firms are now planning £37bn of share buybacks this year, compared to the prior record of £34.9bn in 2018.”
Wall Street Journal (February 1)
“Despite record-high case numbers, the U.K. and other governments across Europe responded to Omicron with lighter restrictions than any previous wave of the virus, allowing businesses to remain open.” Moreover, individuals and businesses have “adapted to restrictions, minimizing the effects.” As a result, economic growth in Europe has slowed far less than during previous surges.
Tags: Businesses, Cases, Economic growth, Europe, High, Individuals, Omicron, Open, Record, Restrictions, Slowed, U.K., Virus
