Global Finance News
Stay updated with the latest global finance news at The Thaiger, your ultimate source for financial information. Keep informed on market trends, economic developments, and investment opportunities across the world.
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Fed halts rate hikes as inflation decline slows, growth outlook brightens
A halt in interest rate hikes has been announced by the Federal Reserve, reflecting a response to an unexpectedly robust economy and a reduced pace in inflation decline. In order to simultaneously tackle both economic risks and inflation control, the Federal Open Market Committee unanimously agreed to maintain the current interest rate range. In a statement following the announcement, Fed…
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Modelo Especial tops US beer sales as Bud Light faces boycott
Constellation Brands’ Modelo Especial has surpassed Bud Light as the leading beer in the US market amidst a conservative backlash against Anheuser-Busch InBev’s Bud Light for partnering with transgender influencer, Dylan Mulvaney. Sales of Bud Light and Budweiser fell considerably by 24.6% and 9.2%, respectively, in the four weeks through June 3, compared to a year ago. In contrast, Modelo…
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Beyoncé’s tour boosts Swedish inflation as hotel rates surge
The music industry powerhouse Beyoncé has garnered attention for her potential influence on inflation, particularly in Sweden. Last month, as part of the singer’s world tour, two concerts held in Stockholm resulted in increased hotel bookings and restaurant visits. Consequently, Sweden reported a higher-than-expected inflation rate of 9.7% in May. Michael Grahn, an economist at Danske Bank, highlights that the…
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Bud Light loses top spot in US sales after transgender influencer boycott
Bud Light has lost its status as the top-selling beer in the United States following a boycott, according to recent data. Sales dropped by nearly 25% in the four weeks leading up to June 3, as reported by consulting firm Bump Williams. The boycott began after transgender influencer Dylan Mulvaney shared a photo of a personalised Bud Light can on…
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Instant Brands files for bankruptcy amid $1bn liabilities, weak demand
Instant Brands, the company behind Pyrex glassware and Instant Pot multicookers, has filed for bankruptcy protection, citing liabilities of up to US$1bn. The firm attributes its financial troubles to high interest rates and weak demand. With over 2,400 employees, Instant Brands plans to continue operations while restructuring the business. This follows a warning from fellow kitchenware brand Tupperware in April,…
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Finance Ministry revokes Asia Wealth Securities licence for misusing client funds
The Ministry of Finance has withdrawn Asia Wealth Securities‘ (AWS) securities business license following a recommendation from the Securities and Exchange Commission (SEC) due to the unauthorised use of client funds. The SEC discovered that on November 14, AWS had improperly utilised 154 million baht of clients’ funds to buy shares of More Return (MORE) from Thailand Clearing House without…
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G7 finance leaders gather amid US debt ceiling standoff and recession fears
A standoff over raising the US debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders, heightening US recession fears as central banks seek a soft landing for the global economy. President Joe Biden recently urged Republican lawmakers to move quickly to raise the limit on the government’s permitted borrowing from the current US$31.4 trillion or risk throwing…
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French finance minister’s erotic novel raises eyebrows amidst economic turmoil
A recent novel by France’s Finance and Economy Minister, Bruno Le Maire, 54 years old, has caused quite a stir and left the government facing questions about how he finds the time to write amidst the nation’s current economic challenges. “American Fugue” is the 13th book penned by Le Maire, who has been at the forefront of defending President Emmanuel…
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