Crude oil prices are reacting to the United States tightening Russian crude oil export restrictions. The new rules have caused an expectations of reduced global supply. At mid-Friday, US light crude traded near the 85.00 mark and Brent crude was above 89.00 level.
Internet giants Google, Cloudflare and Amazon have reported that they have encountered the largest ever denial of service operation. Moreover, the attacks had used a new technique.
The United Auto Workers have announced this week that they were expanding the ongoing strike to the largest Ford factory in the world.
Microsoft has announced that the United States Internal Revenue Service has notified the company that the government seeks an additional payment of $28.9 billion, interest and penalties for the period of 2004 up to 2013.
The President of Atlanta Federal Reserve Bank Raphael Bostic has stated this week that the Federal Reserve should not increase interest rates further, as the current rates have already slowed down inflation.
The monthly publication of the United States Consumer Price Index has revealed that inflation remains at previous levels, despite the markets expecting a slight decrease. US Dollar index reacted to the news with an immediate spike upwards.
The stock prices of firms that provide dialysis services to diabetes and kidney failure patients have dropped due to Novo Nordisk revealing that Ozempic has shown success in permanently treating these diseases.
Reuters has revealed that due to buying up cheaper sanctioned oil from Iran, Russia and Venezuela Chinese firms have saved almost $10 billion.
The United Kingdom Office for National Statistics has released the monthly UK GDP data. Despite hitting the forecast of 0.2% growth, the publication caused a drop of the Pound's value due to the revision of the prior data from -0.5% to -0.6%.
The Korean electronics giant Samsung Electronics has reported better than expected 2023 third quarter financial results. The new caused a surge of the company's stock price.
The United States Treasury Secretary Janet Yellen has revealed that she would meet with the Governor of the Peoples Bank of China Pan Gongsheng to discuss debt issues.
The International Monetary Fund has kept its global economic growth outlook almost unchanged. Although, the IMF has increased its GDP expectations for the US. Meanwhile, the GDP forecasts for China and Europe have been decreased.
The United States Bureau of Labor Statistics has just published the monthly US Producer Price Index and Core Producer Price Index. The PPI was expected to show an increase of 0.3% and the Core PPI was forecast to have grown by 0.2%. Instead the PPI was revealed to increase by 0.5% and the Core PPI shows growth of 0.3%.
The stock price of LVHM has plummeted more than 6.00% at the start of Wednesday's European trading. The French luxury group's stock trades at a low level not observed since December. The drop was caused by low sales volumes in the third quarter of 2023.
The Global Energy Monitor think tank has published research that indicates that the global coal industry might get rid of more than 1 million jobs by 2050. The job losses are expected to occur, if the world shifts to other energy sources.
The International Monetary Fund has stated that around 5.00% of banks are set to struggle in a potential economic decline that would be caused by high interest rates.
The Financial Times has reported that the European Union has started an investigation into Chinese steelmaker subsidies. The subsidies could be aimed at undermining European steel producers.
The central bank of Israel has boosted the value of the Shekel via the sale of foreign currency reserves. The sales are expected to amount to up to $30 billion.
IG Metall workers union has revealed that it has been joined by the Tesla Brandenburg employees. The workers have joined the union due to safety, overwork and health concerns.
The invention of new weight loss drugs has caused major demand for self-injection syringes with the new anti-obesity medication. Companies have reported to be investing billions in the expansion of production.
Reuters has published an article that lays out how the CEO of Tesla and owner of Twitter could lose his latest legal battle against the United States Securities and Exchange Commission.
The Saudi news agency has announced that United Arab Emirates, Saudi Arabia, Oman, Kuwait, Iraq and Bahrain are set to stick to oil production adjustments.
Reuters has published a report on US gasoline prices, which indicates that, due to rising stock prices and crude oil price decline, gas prices in the United States could decline to as low as $3 per gallon.
The US government has revealed that it is near the completion of new chip making tool export restrictions that are set to limit sales to China.