General Motors starts paying dividends again

General Motors announced the resumption of monthly dividend payments, which it canceled at the beginning of the COVID-19 pandemic to maintain reserves. The Board of Directors of GM decided to pay monthly at $0.09 per share. This is 76% lower than it was before the cancellation of dividends: until April 2020, the company’s shareholders received … Read more

Control and supervision will be recalculated before autumn // Mandatory requirements are promised an additional test for effectiveness

The White House has until September 1 to revise the lists of mandatory business requirements, which should come into force before the end of 2024. Additional expertise was required in connection with attempts to reduce administrative pressure on entrepreneurs in the face of sanctions due to the military operation of the Russian Federation in Ukraine … Read more

Services have pulled up consumption // But the growth of business activity in this area may be short-lived

With improved business activity in the services sector, the composite PMI rose to its highest since mid-2021 in July. The main reason for this is the increase in domestic demand. However, the demand for services, which increased from the second half of June, began to shrink again by the end of July. Growth in consumer … Read more

Fed keeps step // Key rate raised again by 0.75 percentage points

The US Federal Reserve System (FRS) Wednesday, July 27, again raised the key rate, bringing it to the range of 2.25-2.5% per annum. As in June, the increase was “non-standard” 0.75 percentage points. Explaining his decision, the regulator, as before, referred to the rise in inflation in the United States – in June it accelerated … Read more

Longer, softer, more boring // The Central Bank reduced the cost of credit and extended the forecast for the duration of the recession

The key rate has been reduced again, and unexpectedly much: the Board of Directors of the Bank of Russia decided to set it at 8% per annum. In the revised forecast for 2022-2024, the Central Bank assumes that the continuation of the recession in 2023 is inevitable, the recession will be less deep and longer … Read more

2023 is not the same as before // EC revised the macro forecast for the eurozone and the European Union

The European Commission (EC) on Thursday, July 14, again worsened the macroeconomic forecast for the countries of the European Union and the euro area. The main revision concerned the growth rates of economies in 2023: they are now expected to be almost one percentage point lower. Inflation expectations have been adjusted upwards – the peak … Read more

Let’s find something to tie to // The ban on linking contract prices to the exchange rate again did not suit the president’s lawyers

The draft law revised by the government to ban the “currency clause” – tying contract prices to foreign currency or world stock indicators – again did not find support from the Council for Codification and Improvement of Civil Legislation under the President. The bill has not been approved by lawyers, even after significant easing by … Read more

Industrial activity has renewed the minimum of the sanctions crisis // Monitoring of the conjuncture

The first leading indicators of the state of the industry record a noticeable decline in business activity in the sector in July 2022. The Gaidar Institute Industrial Optimism Index (IEP), as of July 14, fell by another five points, updating the low of the current crisis and falling below the March 2022 level. The deterioration … Read more

Escaping surplus // Expenses matched revenue in Q2

The federal budget for the first half of 2022 was executed with a surplus of 1.4 trillion rubles, the Finance Ministry said. Almost the entire amount of this “surplus” was accumulated in the first quarter. In the second, against the backdrop of a military operation and new sanctions, revenues were almost equal to expenditures. Oil … Read more