Due to the reduction of COVID measures in China, the Yuan has surged above the 7.00 mark against the US Dollar. This is the strongest level since mid-September.
This week, the European Union, Australian and G7 country price cap on Russian oil exports came into force. However, there was no observable impact on oil prices, as the price cap appeared to have been price in beforehand.
Reuters has reported that the electric vehicle unit of Evergrande would suspend mass production due to a lack of orders.
The Chief Financial Officer of the state of Florida has announced that they would pull out $2 billion of assets from BlackRock's ESG fund. The divestment makes a precedent for removing a state investment from an environmental, social and corporate governance policy implementing fund.
The electric vehicle company Tesla has delivered its first heavy duty truck to PepsiCo. However, the company has not offered the model's pricing or revealed production plans.
The European Union has tentatively agreed upon a $60 price ceiling on Russian seaborne oil. In addition, the EU intends to implement an adjustment mechanism, which would keep the price cap 5% below market prices.
Due to the reduction of anti-coronavirus measures in China investment has poured into the country. This has resulted in the Chinese Yuan booking its largest weekly gains since 2005.
The United States monthly employment data has been revealed to be better than expected. The news have caused a surge of the US Dollar, which can be observed across all of the financial markets.
The European Union officials have informed Twitter that the app could be banned due to the company not abiding by EU content moderation rules.
Due to a marker light issue, Tesla has announced that it would update the software of 435,000 vehicles in China.
In November, housing prices in the United Kingdom have experienced largest decline since June 2022, as prices dropped by 1.4%.
In the aftermath of protests, the Chinese government has reduced its anti-coronavirus efforts by easing restrictions, despite daily infection numbers reaching record highs.
The Chairman of the US Federal Reserve Jerome Powell has stated that interest rate hikes would slow down. However, borrowing costs should remain high.
The United States cryptocurrency brokerage Genesis has revealed that it is restructuring in order to prevent a bankruptcy.
The publication of the Core PCE Price Index at 13:30 GMT, has caused a decline of the US Dollar. The inflation index revealed that prices had increased on a month-on-month basis by 0.2%. However, the market consensus was that inflation had increased by 0.3%.
The Finance Minister of India Nirmala Sitharaman has stated that the ministry expects capital spending to fuel economic growth.
The stock price of Credit Suisse entered its 13th consecutive day of declining, as the stock price lost additional 5.50% and reached 2.67 franc mark. Since November 23, the shares have lost 21% of their value. This has been the worst performance since 1989.
The Deputy Prime Minister of Singapore Lawrence Wong has revealed that Temasek Holdings would write-down nearly $275 million in investment in FTX.
The European Commission has revealed that its economic sentiment indicator has increased to 93.7 in November from 92.7 during October.
Reuters revealed this week that the Bank of Korea is ready to adjust its policy to a potential reopening of China. In addition, the central bank expects its base interest rate to peak at 3.50%.
The US cryptocurrency lender BlockFi has filed for bankruptcy. The company was listed by FTX as its second largest creditor.
The CEO of Airbus Guillaume Faury has stated that the supply chains remain complex and he awaits November data to understand the dynamics of deliveries.
Nestle has increased its 2022 sales growth forecast from 8.00% up to 8.50%. In addition, earnings per share are also expected to increase.
The Chairman of Renault Jean-Dominique Senard has stated to Reuters that he was confident that Nissan and Renault would reach an agreement on their future partnership.