Money Buzz! Europa

Tag: USA

  • For the first time in history, China overtook the US as the Euro Area’s top trading partner

    For the first time in history, China overtook the US as the Euro Area’s top trading partner

    According to the research data analyzed and published by Comprar Acciones, Chinese imports from the EA rose by 5.6% and exports increased by 2.2% in 2020.

    US imports, on the other hand, plummeted 13.2% as exports fell by 8.2%.

    Based on IMF projections, China’s GDP is set to grow by 8.1% in 2021 following its 2.3% growth in 2020. By 2022, the rate will slow down to 5.6%.

    In 2020, Euro Area exported goods were worth €2.13 trillion to the rest of the world, a 9.2% decline from 2019.

    Euro Zone imports fell by 10.8% to €1.89 trillion during the period, while Intra-Euro area trade fell by 8.9%.

    However, there was a slight recovery in December 2020, with exports up by 2.3%, imports down by 1.3% and Intra-Euro trade up by 0.9%.

    India is expected to have the highest GDP growth in 2021 at 11.5%, following an 8% decline in 2020. In the Euro area, Spain is expected to have the highest growth in 2021 at 5.9%.

    The UK is expected to grow by 4.5% after its massive 10% decline in 2020. Its 2020 GDP contraction was twice the 2009 fall and worse than the 1921 drop of 9.7%.

    According to the US government’s preliminary reports, its GDP fell by 2.3% in 2020 to $20.93 trillion. Meanwhile, China grew its GDP to $14.7 trillion (101.6 trillion yuan).

    That narrowed the gap between the two powerful countries to $6.2 trillion, compared to $7.1 trillion in 2019.

    However, China’s per capita GDP was $11,000 in 2020. Comparatively, the US had more than five times that total, at $63,200.

  • In Europe we Trust. Europeans believe the US is in decline and can’t stage a comeback

    In Europe we Trust. Europeans believe the US is in decline and can’t stage a comeback

    While most Europeans rejoiced at Joe Biden’s victory in the November US presidential election, few are confident that the United States will stage a comeback as the pre-eminent global player under his leadership.

    Even more, a majority of Germans today agree that after voting for Trump in 2016, Americans can’t be trusted, and across Europe, more respondents agree than disagree with this statement.  

    This shift translates into a very limited willingness of Europeans to back the US in potential international disagreements.

    For example, half or more of the public in all 11 European countries polled hold the view that their government should be neutral in a conflict between the US and China, and, in no surveyed country, would more than 40% want to take Washington’s side against Russia.

    There is scepticism in Europe on whether Biden can arrest the decline of the United States on the global stage

    Across the eleven surveyed countries, a majority (51%) does not subscribe to a view that, under Biden, the US is likely to repair its internal divisions and invest in solving international issues such as climate change, peace in the Middle East, relations with China, and European security.

    There is also a strong sense among Europeans that China will overtake the US as the world’s leading superpower within the next decade – an opinion that is held widely across surveyed countries, including in Spain (79%), Portugal (72%), Italy (72%) and France (63%).

    The legacy of the Trump administration has undermined trust in the United States 

    Almost a third (32%) of all respondents to ECFR’s poll agree that, after voting for Trump in 2016, Americans cannot be trusted.

    Most strikingly, 53% of German respondents hold this view – making them clear outliers on this point.

    Only in Hungary and Poland do significantly more people disagree with the statement than agree. 

    Very few Europeans believe the US would intervene on their behalf in the event of a military crisis

    Just 10% of those polled view the US as a ”reliable” security partner who will always protect Europe, while at least 60% of respondents in every country polled – and 67% across all the countries – feel their country cannot depend on US support in the event of a major crisis.

    Divisions over America in Europe have changed and have a lot to do with whether people feel the EU, USA or China are rising or declining.

    In Europe we Trust

    The study identified four new geopolitical tribes (”In Europe we Trust”, the biggest with 35% of respondents); ”In Decline We Trust”, second biggest with 29%; ”In the West We Trust” 20% and ”In America we Trust” with only 9%.

    This are the key finding of a major pan-European survey of more than 15,000 people in eleven countries, published today by the European Council on Foreign Relations (ECFR).

    The survey was conducted in November and December 2020 by Datapraxis and YouGov.

  • US imports from China grows by 126% to $292 billion amid pandemic

    US imports from China grows by 126% to $292 billion amid pandemic

    Data presented by Bankr indicates the United States imports from China have grown by 126.29% to $292.64 billion between March to October 2020.

    As of October, the value of imports stood at $44.83 billion, the highest figure during the review period. In September, the value stood at $41.21 billion, a growth of 0.9% from Augusts’ $40.82 billion.

    In July the value of imports was $40.66 billion while in June the figure stood at %37.64 billion. The figure represented a growth of 2.8% from May’s figure of $36.6 billion. In April, the value stood at $31.07 billion, while in March, it was at $19.81 billion.

    The research also reviewed the value of China’s imports from the US during the same period. The value increased by 84.69% to a total value of $81.76 billion, which is at least 3.5 times less than US imports from China.

    The highest value of China imports from the US was in October at $14.7 billion, an increase of 27.6% from September’s $11.53 billion. As of August, the value was $11.03 billion, an increase of about 22% from July’s $9.03 billion.

    As of June, the value was $9.24 billion, while in May, the figure stood at $9.64 billion. In April, the value was $8.6 billion, while in March, it was at $7.97 billion.

  • US proposed to Bulgaria to abandon the construction of Belene nuclear power plant

    US proposed to Bulgaria to abandon the construction of Belene nuclear power plant

    The United States has proposed to Bulgaria to abandon the construction of the second nuclear power plant in the country, given that this project, located in Belene, has been in place for years, AFP reports.

    The program has been suspended several times due to cost-effectiveness, even though two reactors have already been delivered by Russia.

    Seven groups, including the Chinese CNNC, Rosatom (Russia), Framatome (France), General Electric (USA) and KHNP (South Korea), submitted bids in August 2019 to complete works at this installation.

    But Washington prefers to focus on the other Bulgarian nuclear site, active at Kozloduy.

    US Ambassador in Bulgaria, Herro Mustafa, traveled to Kozloduy on Thursday. At the end of the visit, she proposed “a hybrid solution that would make the most of the equipment already purchased for the Belene project”.

  • Skanska acquired a land plot in Boston, USA, for USD 177M

    Skanska acquired a land plot in Boston, USA, for USD 177M

    Skanska has acquired about 2,787 square meters of land in Boston, Massachusetts for USD 177M, about SEK 1.5 billion.

    Located at 380 Stuart Street in the Back Bay neighborhood, Skanska plans to develop a 27-story, about 58,000 square meter, Class-A office building with ground-floor retail and below-ground parking.

    The project will target LEED Platinum, Fitwell, and WiredScore certifications.

    This acquisition marks Skanska’s seventh commercial venture in Greater Boston, and one of the few remaining opportunities for a new, ground-up development in Back Bay.

  • Italian brand Technogym opens new retail store in Los Angeles

    Italian brand Technogym opens new retail store in Los Angeles

    Technogym, one of the the world’s leading wellness companies, opened its brand-new retail store in Los Angeles, California.

    The two-floor space, located at 131 North Robertson Boulevard in the heart of the West Hollywood Design District, totals over 3,500 square feet.

    The store will also have access to experienced personal trainers and interior designers for bespoke home-gym projects and personalized consultations.

    Technogym LA is open Monday to Saturday from 10 AM to 6 PM.

    This store opening is part of the overall retail project that includes the direct presence of Technogym in the main cities around the world: Milan, New York, Madrid, Dubai, Mexico City, Doha, Vienna, Zurich, Moscow, and a dedicated space inside Harrod’s department store in London.

  • COVID-19 wipes over US$13 trillion off top nation brand values

    COVID-19 wipes over US$13 trillion off top nation brand values

    The top 100 most valuable nation brands in the world have suffered a monumental loss to their brand value because of the COVID-19 pandemic, amounting to US$13.1 trillion, according to the latest report by Brand Finance.

    The US and China remain a cut above the rest, claiming first and second position in this year’s ranking, recording brand values of US$23.7 trillion and US$18.8 trillion respectively.

    Long-standing leader the US, has recorded a 14% brand value loss to US$23.7 trillion, following yet another turbulent year.

    Unlike the US, China’s brand value has managed to remain largely stable, recording only a modest 4% drop this year.

    Japan has fared relatively better than its counterparts, recording a modest 6% brand value loss to US$4.3 trillion, and inching up to claim third spot in the ranking.

    Germany stands in the fourth place, with a brand value of $3,813 bn, down -21.5% y-o-y. The UK has retained fifth position, following a 14% brand value decrease to US$3.3 trillion.

    Ireland has bucked the negative trend this year as the only nation brand in the top 20 to record a positive brand value growth, up 11% to US$670 billion.

    Vietnam is the fastest-growing nation brand in this year’s ranking, its brand value skyrocketing 29% to US$319 billion.

    How CEE countries rank in Nation Brands 2020

    Poland is the most valuable nation brand in the CEE, ranking 22.

    Austria ranks on the 26th place, Czechia on 34, Romania 49, Hungary 50, Greece 54, Slovakia 56, Slovenia 59, Bulgaria 66, Lithuania 71, Serbia 74, Croatia 76, Latvia 80, Estonia 82.

  • Swedbank signed a 734 sq m lease on the 45th floor at the Empire State Building

    Swedbank signed a 734 sq m lease on the 45th floor at the Empire State Building

    Empire State Realty Trust, Inc. announced today that Swedbank, a Stockholm-based banking group, signed a 7,905 sq ft. (734 sq m) lease on the 45th floor at the Empire State Building.

    Swedbank offers retail banking, asset management, financial and other services.

    Swedbank has 4.0 million private customers in Sweden and 3.25 million private customers in Estonia, Latvia and Lithuania.

    The bank has 268,000 corporate customers in Sweden and 276,000 corporate customers in Estonia, Latvia and Lithuania.

    Swedbank has 15,614 employees that work in 160 branches in Sweden and 92 branches in Estonia, Latvia and Lithuania.

    Empire State Realty Trust, Inc. owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the ”World’s Most Famous Building.”

  • EU to impose additional tariffs on „Made in USA” products

    EU to impose additional tariffs on „Made in USA” products

    The European Union will impose additional tariffs on American products, European Commission Vice President Valdis Dombrovskis announced on Monday, AFP and DPA reported.

    On October 26, the World Trade Organization (WTO) formally authorized the European Union to impose additional tariffs on US products worth nearly four billion dollars (3.37 billion euros).

    Europe has already prepared a long list of US products that could be targeted by the new tariffs, a list that includes airplanes, wines, spirits, tractors, frozen fish and frozen orange juice.

    Last month’s WTO decision, to the benefit of the EU, comes about a year after the institution granted the US the right to impose additional tariffs on European products worth $ 7.5 billion, due to illegal subsidies granted by the European Union to Airbus.

  • Trump’s social media army 7x bigger compared to Biden’s

    Trump’s social media army 7x bigger compared to Biden’s

    Data acquired and aggregated by Finbold indicates that the United States President Donald Trump’s 143 million social media following is about 7.2 times more compared to his rival in the upcoming election Joe Biden.

    As of October 28th, Biden’s overall social media following stood at 19.94 million.

    On Twitter Trump has 87.2 million followers, representing about 7.86 more followers than Biden’s 11.1 million. The two candidates also have a share of fake Twitter followers with Trump having 6% more fake followers compared to Biden.

    An overview of their Instagram accounts indicates that Trump has 4.52 times more followers than Biden at 22.6 million while Biden has only 5 million followers.

    On Facebook, Trump controls a massive 32.26 million page followers while Biden followers are 9.06 times less than Trump at 3.56 million.

    On YouTube, Biden also trails with 0.28 million subscribers, which is about 5.04 times less when contrasted to Trump’s 1.41 million subscribers.

  • Global economy to shrink by 4.5% in 2020 as China’s GDP grows by 1.6%

    Global economy to shrink by 4.5% in 2020 as China’s GDP grows by 1.6%

    According to the research data analyzed and gathered by StockApps.com, the global economy is set to decline by 4.5% in 2020.

    In 2019, the global GDP grew 2.6% and by 2021, it is projected to grow by 5.0%. South Africa will suffer the hardest blow with an 11.5% decline.

    According to WeForum, the economic shock experienced in 2020 is three times worse than the 2008 financial crisis in terms of annual GDP decline.

    China’s economy could be worth $14.6 trillion in 2020

    The OECD report reveals that all G20 economies apart from China will suffer a recession in 2020. China is set to grow by 1.6% in 2020 according to World Bank projections, compared to a 5.2% global contraction. 

    Based on a report from CNN, China’s economy could be worth $14.6 trillion by the end of 2020, giving it a 17.5% share of the global GDP.

    During Q3 2020, China’s economy surged by 4.9% year-over-year (YoY), up from 3.2% in Q2 2020. In the first week of October 2020, tourist spending surged by 70% and reached $70 billion. Over 630 million people traveled around the country, 80% more than in 2019.

    On the other hand, the US GDP is set to sink by 3.8% in 2020 according to the OECD. However, Morgan Stanley projects that it will rebound to pre-pandemic levels by Q2 2021, two quarters earlier than previous forecasts anticipated.

    For the G20 as a whole, there will be a 4.1% GDP decline while the Euro zone will drop by 7.9%. In addition to South Africa, other hard-hit countries in the G20 will include Argentina (-11.2%), Italy (-10.5%), Mexico (-10.2%), India (-10.2%) and the UK (-10.1%). As a whole, the G20 will shoot up by 5.7% in 2020 while the Euro zone will grow by 5.1%.

  • U.S. new home sales jump 108% over the last 10 years

    U.S. new home sales jump 108% over the last 10 years

    Data presented by Buy Shares indicates that the United States’ new home sales annual rate has grown by 108.45%. The growth was recorded between 2010 and 2020.

    The highest sales were recorded this year at 697.542 as of September 28th, a growth of 2.9% from last year’s 677.386. Over the last decade, the lowest sales were registered in 2011 at 309.853, a drop of 7.40% from 2010’s 334.624.

    According to the research report: ”The rise in new home sales is a good indicator considering that the United States real estate market was among the worst hit by the coronavirus pandemic. The high sales show a rising momentum as the economy continues to recover from the pandemic.”

    The research also overviewed the sales relating to the existing homes where the annual rate jumped by 128%. The highest sales were recorded this year at about 1.3 million. Last year, the figure stood at 1.2 million. The lowest sales were recorded ten years ago at 577.774.

    An overview of the new home median sale price shows a spike of 46.96%

    The existing home median sale price had a growth of 62.08%. In 2020, the new home sale median price was $332,560, while ten years ago the figure stood at $219,484.

    On the other hand, the median sale for existing homes stands at $280,134 while ten years ago, the price was $174,843