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On December 9th, Piral Dadhania, an analyst at RBC Capital Markets, pointed out in a research report that luxury goods companies are expected to return to a growth trajectory next year, benefiting from creative revitalization. The analyst predicts the industry will achieve 5% organic revenue growth, with Brunello Cucinelli, Hermès, and Richemont leading the way. Market expectations for recovery are supported by creative direction adjustments by several high-end brands. Recently, several luxury brands have changed their creative teams to reignite consumer interest, and related new products are expected to launch in stores in 2026. The analyst also predicts that the strong performance of the jewelry category will continue next year.December 9th - Carsten Brzeski of ING noted in a report that following the summer rebound, German export data for October indicates that the countrys traditional growth engine still has a long way to go to achieve a sustainable recovery. Data released on Tuesday showed that German exports rose only slightly by 0.1% month-on-month in October, far below the 1.4% increase in September. "The volatility caused by US advance purchases seems to have passed, and German exports have returned to a new normal: weak growth," he pointed out. He added that US tariffs continue to put pressure on exports, and their full impact may not be fully apparent until the coming months. Furthermore, the share of German exports to the US in total exports has fallen from 10.5% last year to approximately 9.5% this year.On December 9th, US President Trump gave an interview to Politico at the White House on the 8th. When asked if he was considering granting more tariff exemptions to other goods that Americans consider overpriced, Trump answered "yes." When asked if he ruled out further tariff reductions on other goods, Trump replied, "Some goods will [have tariffs reduced], some I will raise. Whats happening right now is all because of tariffs, like all the car companies coming back to the US." Furthermore, regarding interest rates, when asked if an immediate rate cut was a litmus test for a new chairman, Trump answered "yes," but did not explicitly state that he had communicated with potential chairmen.The European Commission has briefed US officials on the antitrust investigation into Google.December 9th - According to Politico, US President Trump denied providing financial assistance to Hungarian Prime Minister Viktor Orbán. In an interview with the US news website, Trump stated, "No, I didnt promise it, but he did make a request."

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."