During the most recent earnings announcement, Amazon.com Inc has revealed that it expects to continue to grow during the third quarter of 2023 due to cloud sales and recent shopping trends.
Due to an increase in demand for cruises, cruise operators are preparing to increase their prices during the upcoming months.
The shipping group Moller-Maersk has announced that it expects a major decline in global demand for sea shipping of containers due to a stop in economic growth.
Consumer goods producers, automakers and machinery makers have revealed that the Chinese post-pandemic recovery boost has grinded to a halt, as sales in the market have slowed down.
Amazon has published its second quarter results and third quarter forecasts. The company has rvealed that its cloud sales remain resilient and shopping trends are boosting earnings. The news caused an almost 10.00% surge of the company's stock price during pre-market hours.
Despite beating earnings expectations in the second quarter of 2023, Apple has reported bad news. The company has revealed that it expects sales to continue to decline in the third quarter of the year. This would mark a fourth quarter of sales decline.
The Wall Street Journal has reported that Binance continued to do monthly transaction of up to $90 billion in the banned Chinese market.
US oil prices have surged during this week due to the official US inventory data revealing that US crude oil stocks have dropped by 15.4 million barrels, compared to the expected decline of only 1.37 million barrels.
The rating agency Fitch has decreased the US credit rating to AA+ from AAA. The move has caused anger from the US administration and was a surprise to investors. The reason for the downgrade are issues with US debt ceiling future.
Recently released data sets and survey results have revealed that in July global factory activity had continued to decline.
The Bank of England has just now increased its Official Bank Rate from 5.00% up to 5.25%. The move was expected by the financial markets. As a result of the policy change the value of the Pound initially reacted with a downwards move, before returning to previous levels.
Uber stock price has experienced a decline during this week due to the company issuing a warning that Lyft had started to effectively compete in ride pricing.
Amazon has announced the creation of a new Amazon Web Services data centre network in Israel. The total investment is set to reach $7.2 billion.
Reuters has reported that Apple is likely set to report a decline in iPhone sales during the period from April up to June, as shopper have decided to wait out for newer models.
United States auto safety regulators have started an investigation of the 280,000 Tesla vehicles that have reportedly experienced loss of steering and power steering.
The United States pharmacy company CVS Health is set to get rid of 5,000 jobs, as reported by the Wall Street Journal.
In the first quarter of 2023, Toyota Motor Corporation has managed to double its quarterly profit due to larger productivity and sales. In addition, the company's profits have increased due to the weak Japanese Yen, as costs are paid out in Yen, but most income is in foreign currency.
Financial Times has revealed to the world that Meta is preparing to create new AI chatbots in an attempt to retain users.
Reuters has reported that Chinese authorities have asked banks to decrease or delay buying of US Dollars to reduce pressure on the Yuan.
The Chief Executive Officer of Lamborghini Stephan Winkelmann has stated that the company could sell 10,000 cars during 2023.
Financial Times has reported that the Securities and Exchange Commission had requested Coinbase to stop all crypto trading, except Bitcoin. The exchange denied the request and the SEC sued it in June.
Crude oil prices have shown monthly gains not seen for more than a year, as in July prices were boosted by Saudi Arabian production cuts and increased global demand.
Amidst tensions with the United States Chinese government has implemented export controls on drones and drone related equipment to safeguard its national interests.
Reuters has revealed that Tesla has announced new price cuts for Model 3 and Model Y in Hong Kong. The company continues an ongoing price war in the electric vehicle market.