Is the global investment boom turning to bust?
Why capex spending is now heading in the wrong direction
Almost wherever you look, companies seem to be scaling back their ambitions. Meta, the owner of Facebook, recently said that it would invest less in 2023 than previously promised. Disney is slimming its capex plans for this year by a tenth, meaning punier investment in its theme parks. Calavo Growers, a huge producer of avocados and other fruit, intends to reduce its capital expenditures “while we navigate near-term uncertainties”.
This article appeared in the Finance & economics section of the print edition under the headline “Fun while it lasted”
Finance & economics March 18th 2023
- How deep is the rot in America’s banking industry?
- For markets Silicon Valley Bank’s demise signals a painful new phase
- The search for Silicon Valley Bank-style portfolios
- What the loss of Silicon Valley Bank means for Silicon Valley
- Credit Suisse faces share-price turbulence, as fear sweeps the market
- Is the global investment boom turning to bust?
- The Fed smothers capitalism in an attempt to save it
From the March 18th 2023 edition
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A new book by Byrne Hobart and Tobias Huber argues there are advantages to financial mania