Goldman Sachs has announced that the bank now expects the European Central Bank to hike its base interest rates by 75 base points instead of previously expected 50 point hike.
This morning, at 09:00 GMT, the higher than expected Euro Zone Consumer Price Index Estimate caused a reversal of an ongoing decline of the Euro against peer currencies. The markets took in high inflation as a reason for the European Central Bank to be more hawkish and reduce the supply of the Euro more than previously planned.
Taiwan's China Airlines has announced that it aims to buy 16 Boeing airplanes to replace its aging Airbus fleet. The total sum of the deal is set to amount to $4.6 billion.
First Solar has revealed that due to new regulation the company would invest $1.2 billion in expanding its solar panel production operations in the US.
This week, for the first time the Qatar Central Bank granted a digital payments licence. The license was received by Vodafone Qatar for iPay services.
The Chinese government has announced that it would continue on with economic stimulus in an effort to boost demand and stabilise prices and employment.
In July, the production output of Toyota Motor Corporation continued, as production had fallen by 8.6% on an annual comparison basis.
The Finnish national airline Finnair has revealed that it would partner with Qatar Airways in an effort to open new routes from Doha to Nordic capitals.
This week, Olympus revealed that it would sell the company's microscope unit to Bain for a total of $3.1 billion.
The Founder of Tesla Elon Musk has announced that self-driving Tesla automobiles would be available in the United States by the end of 2022.
Honda Motor Company and LG Energy have revealed that they would partner to construct a new electric vehicle battery factory in the United States.
This week, OPEC+ announced that the oil producers might decrease supply due to potential return of Iranian producers to the global market. Namely, OPEC+ aims at keeping oil prices at the current levels.
Abercrombie & Fitch has announced that it would cut its 2022 margin and sales forecasts due to a recent surprise quarterly loss, which was attributed to rising inflation.
Tesla has announced that the state of California should mandate new vehicles sold starting from 2035 to be electric or plug-in hybrids.
The Wall Street giant Citigroup has revealed that it would close down its commercial and consumer banking business in Russia.
The Electric Reliability Council of Texas has revealed that it had experienced new demand records this summer 11 times. However, no blackouts have been experienced.
It has been revealed that in August business sentiment in Germany had declined. However, the decline had been less than expected by financial market forecasters.
The Thai lender SCBX has announced that it would stop its $500 million acquisition of the crypto exchange Bitkub.
Honda Motor Company revealed this week that the company would decrease its output in Japan by up to 40% due to disruption of supply.
Bank of Japan Board Member Toyoaki Nakamura has revealed that the central bank would continue on with its ultra-easy monetary policy, despite the decline of the Japanese Yen.
The European Central Bank President Lagarde commented this week that climate change has had an impact on the ongoing global high inflation.
The Chinese government has advised farmers to replant or switch their crops due to the subsiding of a record heatwave.
Peloton Interactive published its quarterly results, prior to the US market opening. The company revealed that it had suffered bigger than expected loss. The company's stock price reacted to the news with a 13.06% pre-market price drop from $13.47 down to $11.60.
This week, the central bankers of the world were heading to Jackson Hole, Wyoming, United States, where the Federal Reserve would host the top policymakers at a symposium.