In January, US Consumer Spending has reportedly increased by 1.8%. Meanwhile, wages had grown only by 0.6%, which indicates that US consumers continue to take on debt for their expenses, amid surging inflation.
The US Core PCE inflation has reached a new high level, as it has beat expectations, causing a surge of the US Dollar. The surge of the USD is being attributed to the fact that the US Federal Reserve would be forced to further hike interest rates due to failing to combat inflation.
Reuters has revealed that Intel Corporation is evaluating increasing its already existing $1.5 billion investment in the company's chip facility in Vietnam.
The January Producer Price Index for China has revealed that prices at the producer level had declined more than expected. The prices have been declining due to the post-Covid reopening not creating enough consumer demand.
Despite recent price cuts, Tesla has increased the starting price for the Model Y vehicles in China by 0.8%.
Financial Times has reported that the UK regulators were investigating Barclays bank's anti-money laundering system.
Reuters has published a report, which has revealed that Advanced Micro Devices Incorporated has gained control of almost a third of the central processor market.
Yahoo has announced that it would fire more than one fifth of its workforce by the end of 2023. The firing has started in mid-February with the laying off of nearly 1000 employees.
The co-founder of Microsoft Bill Gates has stated that he considers the ChatGPT is a significant invention that would change the world.
The latest quarterly Gross Domestic Product data for the United Kingdom has revealed that the country's economy stagnated during the fourth quarter of 2022.
Canadian airplane maker Bombardier has revealed that in 2023 the company would increase its business jet deliveries.
The soft drink maker PepsiCo has revealed that it expects its 2023 core earnings per share to reach $7.20.
The UK pharmaceuticals company AstraZeneca has revealed that it expects profit growth in 2023, as the company focuses on improving its profit margins.
The Chief Executive Officer of JPMorgan Chase Jamie Dimon has stated that the Federal Reserve has announced victory against inflation too soon.
Exchange filings have revealed that Warren Buffet's Berkshire Hathaway has continued to sell off electric vehicle producer's BYD shares.
Reuters has reported that various artificial intelligence companies have urged investors to rationally evaluate AI companies due to the ChatGPT caused stock frenzy.
Credit Suisse Group has reported its worst yearly loss since the 2008 financial crisis. In addition, the bank has warned that it expects losses to continue into 2023.
The streaming platform Netflix has announced that it would crack down on account sharing by creating primary location registration and implementing a charge for extra account users.
South Korean authorities have fined German automakers for a collision aimed at curbing emission cleaning technologies.
Airplane maker Airbus has urged its suppliers to increase their stock in an effort to avoid output snags.
Toyota Motor Corporation has revealed that its quarterly profits had increased by 22% due to a decline of the value of the Japanese Yen against peer currencies.
Unilever has announced that the company would continue to increase its product prices into the second half of 2023.
Walt Disney Company has revealed to be amidst a restructuring, which would result in the firing of 7,000 employees in an effort to save $5.5 billion in costs.
Recently published data has revealed that the year on year consumer price index in January increased by 9.2%. Compared to December, prices had increased by 0.5%.