May 7, 2024
United States:
US Companies Have $1.76 Trillion Opportunity to Free Up Cash
With rates expected to stay high for a while, corporate finance chiefs have a strong incentive to skip debt markets and free up more of their companies’ cash instead. And it turns out, they have plenty of it.
The biggest US-based companies can wring a combined $1.76 trillion from their operations by taking steps to tighten up how they manage key areas such as inventory and payments, according to preliminary research from consulting firm Hackett Group.
Europe:
ECB Can Cut Rates in June If Inflation Path Holds, De Cos Says
The European Central Bank can begin to lower interest rates at its meeting next month, should there be no more jolts to consumer prices, according to Governing Council member Pablo Hernandez de Cos.
“If these inflation prospects are maintained, from my point of view it would be advisable to begin reducing the current level of monetary restriction in June,” the Spanish central-bank chief told lawmakers in Madrid on Tuesday.
Asia:
Taiwan Inflation Drops Below Key Threshold, Easing Rate Concerns
Taiwan’s inflation rate fell below the central bank’s 2% threshold last month, easing pressure on the central bank to raise borrowing costs again at its next meeting in June.
Consumer prices rose 1.95% in the 12 months through April, the government’s statistics bureau said Tuesday. That’s down from 2.14% in March and below the 2.2% forecast in a Bloomberg survey of economists. Officials cited significant declines in the prices of eggs, vegetables and transport fares among the main reasons.
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