A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday. From a report: It urged firms to take steps such as developing technology, farming out operations and bulking up through mergers ahead of a potential economic slowdown. “We believe we’re…
Tag: slowdown
Samsung Ends Mobile Phone Production In China
An anonymous reader quotes a report from Reuters: Samsung has ended mobile telephone production in China, it said on Wednesday, hurt by intensifying competition from domestic rivals in the world’s biggest smartphone market. The shutdown of Samsung’s last China phone factory comes after it cut production at the plant in the southern city of Huizhou in June and suspended another factory…
‘Global Economy is Probably in Recession’
An anonymous reader shares a report: The global economy is probably in recession, with most cyclical indicators showing business activity is flat or falling. Recessions become obvious only once they are well established given the lagging nature of most economic data. And end-of-cycle recessions are usually impossible to distinguish from mid-cycle slowdowns until well after the slowdown has started. The arrival…
Boeing Says It Might Have To Shut Down 737 Max Production
An anonymous reader quotes a report from CNN: Boeing CEO Dennis Muilenburg warned investors Wednesday that the company might need to further slow or temporarily halt its 737 Max production. Boeing has continued to build the 737 Max, its bestselling jet, although at a slower pace. The plane has been grounded since mid-March because of two fatal crashes that killed more…