Due to worries that high inflation is set to cause US monetary policy tightening the US Dollar has continued to gain value and this week hit a five-week-high level.
Tesla has announced another price increase for all of its vehicles. The company has been recently reverting its prior price cut policies.
The current CEO of Tesla and Twitter has announced that in six weeks a new female CEO would take over the management of Twitter. The Wall Street Journal has stated that the unrevealed CEO would be Linda Yaccarino of Comcast NBCUniversal.
The European Court of Auditors has announced that the European Central Bank has been lenient with supervising bank management of credit risk. Moreover, worst and highest risk cases have received the best treatment.
The US Treasury Secretary Janet Yellen has stated that it is uncertain when the US cash stores would run out. The current expectations point as early as June 1.
The Friday meeting of US President Joe Biden and US Senate lawmakers that would discuss the potential US default has been postponed to this week.
Reuters has reported that EU regulators might allow the $69 billion Microsoft acquisition of Activision on May 15.
Due to reported continuous streaming losses and decline in subscribers during the last quarter the stock price of Disney has experienced a decline.
The Friday meeting of US President Joe Biden and US Senate lawmakers that would discuss the potential US default has been postponed to next week.
The main supplier of Apple, Foxconn, has stated that its first quarter profits have plunged 56%, which is the largest drop in three years.
The US Treasury Secretary Janet Yellen has warned the US Congress that a possible US default would cause global economic downturn.
Despite missing fourth quarter expectations, Honda has announced that the carmaker expects its annual profits to have increased by 19% during 2022.
The Indian airline Go First has been announced by authorities to have bankruptcy protection. Moreover, a moratorium has been placed on the airline's leases.
The United States Bureau of Labor Statistics has just released the United States Producer Price Index data. US Producer Prices and Core Producer Prices have increased 0.2% in April, compared to the previous decline experienced in March.
Recently released Chinese company quarterly financial results have revealed to the world that despite an increase in dining, luxury and travel consumption other consumer sectors have lagged behind.
The BoE has just increased its Official Bank Rate from 4.25% up to 4.50%. The central bank has decided to hike only 0.25%, despite annual inflation in the United Kingdom once again being above 10.00% mark
The rental booking firm Airbnb has revealed that it expects a decline in global bookings and a decrease of prices in the second quarter of 2023.
After the first meeting of US President Joe Biden and US House of Representatives Speaker Kevin McCarthy, the two parties have concluded that they are in a deadlock in regards to the US sovereign debt.
Decreasing imports and exports in and out of China have prompted economists to expect that the government stimulus programs might not provide the previously forecast impact.
The United States Bureau of Labor Statistics has just published the monthly inflation data sets. US Consumer Price index m/m was forecast to have increased 0.4%. The actual number hit the forecast. Consumer Price Index y/y was forecast to have increased 5.0%. The actual number is 4.9%. Core Consumer Price Index m/m was forecast to have increased 0.3%. Core inflation
Amazon is offering its customers $10 for picking up their purchases on their own instead of delivery. The company intends to cut costs by moving them onto their customer.
LinkedIn has announced that it would fire more than 700 of employees, as the company phases out its Chinese app.
In the aftermath of the SEC accusing Bittrex of running an unregistered exchange, the company has filed for bankruptcy. However, the company would not close its business outside the United States.
US Treasury Secretary Janet Yellen has been reported by Reuters to have been calling various US company Chief Executive Officers to personally warn about the possible catastrophic impact of a United States sovereign default.