CP BUSINESS WATCH ประจำวันที่ 8 มิ.ย. 2565 -

The World Bank slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now faced recession.
World Bank President David Malpass said global growth could fall to 2.1% in 2022 and 1.5% in 2023, driving per capita growth close to zero, if downside risks materialized.
The bank forecast a slump in global growth to 2.9% in 2022 from 5.7 percent in 2021, a drop of 1.2 percentage points from its January forecast, and said growth was likely to hover near that level in 2023 and 2024.
World Bank Forecasts: sharp decline in US, EU, China growth U.S. growth was seen dropping to 2.5% in 2022, down from 5.7% in 2021, with the euro zone to see growth of 2.5% after 5.4%. Emerging market and developing economies were seen achieving growth of just 3.4% in 2022, down from 6.6% in 2021, and well below the annual average of 4.8% seen in 2011-2019. China’s economy was seen expanding by just 4.3% in 2022 after growth of 8.1% in 2021. Negative spillovers from the war in Ukraine would more than offset any near-term boost reaped by commodity exporters from higher energy prices, with 2022 growth forecasts revised down in nearly 70% of emerging markets and developing economies.

The lira closed at 16.765 to the dollar from a close of 16.58 on Monday. It has weakened over 21% this year, on top of a 44% slide in 2021, when it was hit by a series of unorthodox interest rate cuts made despite high inflation.
Erdogan sought to downplay the surge in annual consumer prices, 73% last month, as just one of several problems for the economy that should begin to ease early next year. He said, Turkey will not raise interest rates but rather continue cutting them in the face of high living costs.
He also redoubled his commitment to boosting production, exports and employment with the low-rates policy and promised a current account surplus that will eventually steady the currency and cool inflation.

Kraft Heinz aims to double the pace of its sales growth in Latin America, making the region its second-largest global market within the next five years.
Chicago-based Kraft Heinz now considers the region its fourth-largest market outside the United States, behind Britain, Canada and Australia. Brazil is home to four of Kraft Heinz’s six Latin American factories, employing around 4,300 people.

Kohl’s Corp. is in advanced talks to be sold in a deal that could value the department-store chain at roughly $8 billion.
The Wisconsin company has entered exclusive talks with retail holding company Franchise Group. The exclusivity period is to last three weeks, adding that a deal isn’t guaranteed.
Franchise Group, which owns brands including Vitamin Shoppe, had offered around $60 a share for Kohl’s. It has been vying for the company in competition with private-equity firm Sycamore Partners, which put in a bid in the mid-$50s a share.
Weeks ago, Kohl’s had indicated to suitors that it believed the company was worth at least $70 a share, though difficult conditions for retailers and for financing leveraged buyouts might have reined in its price expectations.

The first Sony car will likely be a high-end model featuring entertainment such as movies and videogames for which owners will pay extra.
Sony and Honda said in March they would form a joint venture to sell an electric vehicle starting in 2025. The Sony-Honda joint venture will outsource its manufacturing to Honda.
Currently, drivers’ ability to enjoy a Sony movie or videogame is limited by the need to keep their eyes on the road, but Sony hopes that full autonomous driving would spread in the next few years. For video gamers in their car seats, Sony might use what it has learned from its haptic controllers for the PlayStation 5, which convey vibrations and other sensory feedback.

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