Recently released Canadian services sector Purchasing Managers Index has revealed that in December the sector continued to experience a decline.
Starting from Thursday, Carrefour has put up signs on PepsiCo products revealing that the supplier has reduced packaging size and increased prices. Moreover, the French retailer intends to no longer sell products of the company.
Data for December has shown a continuation of the decrease of business activity in the Euro Zone.
In 2023 bankruptcy numbers increased by 18%, as higher interest rates increased capital costs and turned a portion of businesses no longer capable to break even.
Recently published Caixin Purchasing Managers Index survey results have revealed that in December the Chinese services sector had experienced a major increase of activity.
This week, after booking record gains in 2023, US semiconductor industry stocks dropped with the sector index dropping 7% from the high reached on December 27.
Due to the more recent attacks on shipping in the Red Sea, shipping lines have increased cargo shipping rates and suspended plans to restart shipping via the Suez Canal.
Recently published data has revealed that in December unemployment had increased in Germany. However, the increase was smaller than forecast due to which the news were seen as positive for the Euro.
The tech giant Intel has announced that it would create an independent company based on its AI software development projects. The new project would be backed by DigitalBridge Group asset managers and associate investors.
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value.
The banking group UBS has revealed that it expects AI revenues to increase to $420 billion in 2027. The bank is upgrading its previous forecast of $300 billion.
The United States National Highway Traffic Safety Administration has announced that Ford would recall 112,965 F-150 trucks due to a rear axle issue.
Due to concern over demand for new devices in 2024, Barclays has downgraded the stock of Apple, which has caused a decline of the price to a seven week low level.
The Chinese electric vehicle maker BYD has announced that in 2023 its sales had increased by 62%. The company has sold more than three million vehicles.
McDonald's Malaysian unit has sued an anti-Israel boycott movement for making false and defamatory statements that have hurt the company's business.
GasBuddy.com has revealed that the US drivers expect gas prices do go down by 13 cents on average during 2024. The expectations have occurred due to higher US gasoline stocks and increased global refining volume.
The Chinese retailer JD.com has won an anti-monopoly lawsuit against its rival Alibaba. Alibaba has been fined 1 billion Yuan or $140.68 million.
Nippon Yusen, Mitsui O.S.K. and Hapag-Lloyd have announced that they would continue to reroute their shipping from the Suez Canal despite other firms returning to using the dangerous path.
The consumption of coffee has increased by 15% in China. Meanwhile, Brazil's exports to the country have for the first time reached over one million bags.
The United States chip maker NVidia has announced that it would launch a modified gaming chip that would comply with export controls and could be exported to China.
The price for Iron Ore has ended 2023 trading with gains of 55.00%, as Chinese government stimulus has caused demand for construction in the country and with it demand for metal.
The Chinese tech company Huawei Technologies has revealed that it expects its 2023 revenues to reach $98.5 billion, which compared to 2022 is an increase of 9.00%.
The price for Cocoa is set to end the year of 2023 with a gain of 72% and at 46 year high level. The surge of the commodity has been attributed to various supply disruptions.
Interest rates on US home loans have continued to decline, as levels not seen since May have been reached. The rate on 30-year-fixed mortgage has declined to 6.61%.