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Business Matters
BRICS invites six more countries to join the bloc
Aug 25, 2023
BRICS invites six more countries (Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, and UAE) to join the bloc. China suspends seafood imports from Japan due to nuclear plant wastewater release. Central banks gather for Jackson Hole conference. Other topics include protests and controversies surrounding Fukushima, the rise of Singapore's central business district, and the impact of celebrities, interest rates, and overproduction on the economy.
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- BRICS group of nations has invited six countries to join them
- China suspends all seafood imports from Japan over Fukushima release into the Pacific
Deep dives
Bike Industry Struggles with Overproduction
The bike industry experienced a boom during the pandemic as more people turned to cycling. However, many manufacturers overestimated the demand and now face challenges due to excess stock. Some companies, like van moof, have even declared bankruptcy. The overproduction has led to discounted prices in the market, which may affect competitors like Brompton. Despite the industry's struggles, Brompton has remained resilient due to its unique folding bikes and differentiated proposition.
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