MEDIA

 

 

MAY 2024

 

May 12

NOTICE: Commencing this Friday, May 17th many of our associated partner platforms will be closing for a couple of months.

New files can still be submitted to boomfii.com for PPP but the files will take a little longer to allocate and process. 

the-boomfiicom-team--finance-sale-metails-banks-investments-invest-tax

 

May 28

COPPER FUTURES PRICES SET RECORD On 15 May, the price of copper for July delivery in New York shot past $5 a pound, or more than $10,000 a ton, gaining 11 percent over just the previous week to set a record on U.S. markets.

copper--boomfiicom

 

May 24

Around the world, lawmakers & regulators are setting new fees and taxes on electric vehicles to make up for the loss of taxes on gasoline & diesel fuel as more drivers opt for electric mobility Measures include road use fees, registration fees, & taxes at public charging stations.

electric-vehicles

 

May 22

The Daily Mail reported that the largest office building in Fort Worth, Texas sold at a foreclosure auction for $12.3M just three years after it was sold for more than $137.5M. The report said alongside “Texas, other states have also seen an increase in commercial foreclosures.”

largest-office-building-in-fort-worth

 

May 20

World Debt in this year’s first quarter, nations took on another $1.3 trillion in debt, pushing the worldwide total to $315 trillion, the Institute of International Finance reported.

The figure is $55 trillion more than in 2014. New borrowing was led by China, Mexico, & India.

world-debt

 

May 16

EUROPE’S CARMAKERS REPORT FALLING SALES, REVENUE, AND PROFITS.

Stellantis, the conglomerate that owns Alfa Romeo, Dodge RAM, Fiat, and Peugeot, among other vehicle brands, posted first-quarter revenue below expectations after its sales shrank across Europe.

stellantis-europe’s-carmakers-report

 

May 14

Shipping giant AP Moeller-Maersk reported a sharp drop in first-quarter profits due to continued attacks on freighters in and near the Red Sea by Yemen’s Houthi militants in support of Hamas in its war with Israel.

ap-moeller-maersk

 

May 9

Microsoft has said it will spend $14 billion a quarter on property and equipment in response to demand for its AI and cloud services.

Investors were cheered; the company’s share price rose from $390 at the end of April to almost $407 on 3 May.

microsoft-has-said-it-will-spend-$14-billion-a-quarter-on-property

 

The Israeli #economy lost an estimated $56 billion to its current conflict in Gaza over the last six months—straining an already fragile economy that faces a budget deficit and unprecedented increase in public debt.

Israeli economy facing collapse experts says. 

the-israeli-economy

 

Should you be preparing for continuing volatility in the markets? many market experts think so and warn of a possible black swan event in the coming months.

prepare-for-volatility

 

A new poll finds that the people of Sweden are REJECTING the cashless agenda, with a major reason being FREEDOM.

boomfiicom--support-business

 

 
 
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Posts

May 27

An old technology called “magnetization switching” could cut computers’ electricity consumption a thousand fold, developers say.
Using magnetic fields to store data as ones and zeros in computer memories is widely known to be much more power-efficient than using transistors. 

technology--boomfiicom

 

May 23

On May 7th, a Russian court allowed the seizure of €12.4 million, remaining in Russia & belonging to a partnership of JPMorgan & Commerzbank.

The court suit was brought by Transkapitalbank, a Russian lender that came under Western sanctions after Russia's invasion of Ukraine.

jpmorgan-and-commerzbank

 

May 21

Sweden’s Riksbank cut a quarter of a percentage point from its key interest rate, dropping the rate to 3.75%. It was the first time this century the bank has cut its rate before the U.S. Federal Reserve did.

The Czech, Hungarian & Swiss national banks had cut their rates earlier.

sweden’s-riksbank

 

May 17

German luxury clothier Hugo Boss reported a first-quarter net profit of €38 million, beating analysts’ expectation of €36 million.

Gross profit rose 5 % and operating profit by 6 %, year on year. The company has focused on cutting costs while revamping its product line.

german-luxury-clothier-hugo-boss

 

May 15

In April, a robust services sector more than outweighed a deepening slump in manufacturing in Europe. A strong dollar promises a good summer tourist season.

However, manufacturing’s slump will continue, dragging the region’s economy back down when tourists go home in Autumn - TJ

summer-in-europe

 

May 13

In April, the BoE told commercial lenders to stress-test their exposure to the $8-trillion private equity industry (PE) to ensure the lenders are insulated from risks PE might pose to the larger economy.

FCA, is “not yet convinced” the risk is systemic or merits special concern.

boe-told-commercial-lenders

 

May 10

Compensation packages for CEOs of S&P 500 grew 9% this year compared to last,while average worker pay is up 4.2%,ISS reported.

The average chief executive is now paid $15.7M. About $1.3M is in cash,2.8% more than in 2023. However, compensation in stock jumped 10% to more than $12M

sandp-500

 

The global #economy will expand by 3.2 % this year, due largely to the U.S. economy’s resilience, the International Monetary Fund (IMF) said in its new World Economic Outlook report.

The outlook is brighter than last autumn when the IMF foresaw global growth at 2.9 % in 2024.

the-global-economy

 

Experts say, there are two key signs to watch to determine the strength & durability of China’s recovery the real estate market and the consumer economy.

Until those both show steady recovery over a period of several months, China’s economy will not be poised for sustained growth. 

china’s-economy

 

India in 2025 will overtake Japan in nominal GDP and become the 4th largest economy in the world with a GDP of $4.34 trillion. (IMF)

india-in-2025-and-become-will-overtake-japan

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