The electric vehicle maker Lucid has announced that the company would fire 18% of its employees.
Apple has announced that the company is launching a new "buy now and pay later" service in the United States that would compete with Affirm Holdings and Klarna.
The World Bank has revealed that without bold policy shifts the world would experience an economic "lost decade".
The Walt Disney Company has started to lay off 7,000 employees, as the company intends to cut costs.
The CEO of Ferrari Benedetto Vigna has stated that the recent change of EU plans on combustion engines would give the luxury carmaker greater freedom in regards to systems.
In January and February Chinese industrial profits decline by 22.9%, compared to the same period in 2022. The drop in profits has been attributed to surging costs and low demand.
In the aftermath of the TikTok CEO's testimony before the US Congress, US lawmakers have revealed that they would continue on with the legislation that would address TikTok's threat to national security.
Swiss banking regulators have revealed that Credit Suisse managers might face disciplinary action over the rescue of the bank by UBS.
The Chief Executive Officer of Australia and New Zealand Banking Group Shayne Elliot has stated that the ongoing banking sector turmoil might trigger a financial crisis.
The US Federal Reserve and European Central Bank officials have revealed that they expect Europe and US to experience a tightening in lending.
Reuters has reported that CVS is closing in on the $8 billion deal to acquire Signify Health. The deal has been under regulatory scrutiny for months.
The government of India has announced to Airbus and Boeing that the airplane makers should open up assembly plants in India.
The stock price of First Citizens BancShares opened the day's trading by 49% higher than the Friday's close. The stock price started the day at $868.27, compared to Friday's $581.80. The surge occurred due to the bank announcing that it would buy out the Silicon Valley Bank deposits and loans from the Federal Deposit Insurance Corporation.
Reuters has revealed that Walmart would lay off hundreds of US employees at its e-commerce fulfilment centres.
Reuters has reported that the European Central Bank has been pressuring Raiffeisen Bank to stop its business in Russian.
The Chief Executive Officers of Citigroup Jane Fraser commented on Wednesday that the recent failures of some US banks is not a credit crisis.
Accenture has revealed that it has lowered its annual growth forecasts. Moreover, the company has decided to fire 19,000 employees.
The stock price of Deutsche Bank has plummeted, as the insurance costs for a possible default of the bank have surged.
The US Treasury Secretary Janet Yellen has recently stated that she is not considering deposit insurance for all US bank deposits.
Citigroup has issued a downgrade of the European banking sector, as it expects interest rate hikes to continue to impact lenders.
Former owners of the Silicon Valley Bank are set to sue the Federal Deposit Insurance Corporation for seizing $2 billion in cash. The cash was seized together with bank's assets.
The stock price of Block Inc has plummeted from the prior close of $72.65 down below $60.00 at the start of the day's trading. The stock dropped due to Hindenburg research revealing that the fund is shorting the company's stock and would soon release its research on it.
The Swiss government has enacted limits on salary bonus payments for Credit Suisse employees.
The Bank of England has once again hiked its base interest rate. Official Bank Rate has been increased from 4.00% up to 4.25%, as the market expected. In the meantime, note that seven out of the nine BOE Monetary Policy Committee members voted for the 0.25% rate hike. Two members voted to keep interest rates intact.