Analysts surveyed by Refinitiv SmartEstimate have come to a consensus that Samsung Electronics quarterly profits are set to drop by 96%. The earnings are scheduled to be published on August 2.
Reuters has reported that PwC Australia provided confidential and leaked tax law information to Google. It was previously assumed that the documents were only leaked to other PwC employees.
Environmental, social and governance equity funds have suffered major loss of investors during the second quarter of 2023. Funds have suffered due to regulatory and economic worries.
The JPMorgan Chase & Co bank has announced that there is a risk that due to high inflation the Bank of England would have to hike its official bank rate to 7.00% and cause a recession.
Bloomberg has published information that the number of super rich families in the rural parts of India is set to increase five-fold by 2030.
The Chief Executive Officer of Twitter Linda Yaccarino has revealed that the recently implemented tweet reading limit has not impacted advertising.
The Energy Minister of Saudi Arabia Prince Abdulaziz bin Salman has recently stated that the cooperation with Russia remains strong and the production cuts that have been done since November serve as a proof to the relationship.
In an effort to compete with Boeing, Airbus has increased testing of new radical wing technologies by opening a new facility in England.
In June, the Caixin services sector Purchasing Managers Index declined to 53.9 from 57.1 in May. The decline reveals a failure of the sector to recover in the aftermath of last year's COVID-19 restrictions.
German defence firms have expressed displeasure with the conclusion that half of the announced 100 billion Euro German army modernization funds are set to be earned by US companies.
Thatcham Research has announced that, due to lacking data about electric vehicle batteries, insurers continue to struggle with EVs, as minor accidents cause full scrapping of cars.
Reuters has revealed that the recent semiconductor production metal export restrictions were just a start to the response of the country in the chip dispute with the US.
The Virgin Group lawsuit against the train operator Brightline has impacted Virgin reputation. It has been revealed to the media that Virgin Atlantic applied for a bailout despite the Virgin Group being registered with a tax haven.
Chinese state banks have lowered US Dollar deposit rates for another time, as authorities have increased measures to stop the ongoing decline of the Chinese Yuan. Lower USD rates are expected to increase demand for Yuan, as the USD demand decreases.
Markit US Manufacturing Purchasing Managers Index for June has revealed that the decline in US industry continues. The index has declined to 46.0, compared with 46.9 in May.
Bloomberg has reported that Alibaba has been exploring future options for the firm's video streaming platforms Tudou and Youku. The company could invest funds and increase the scope of the platforms.
The online retailer Amazon has started to use Rivian electric vehicle vans for deliveries in Germany. The company is set to start with 300 vehicles. Amazon ordered a total of 100,000 vehicles from Rivian in 2019.
As the United States have set restrictions on technology exports to China, the Chinese government has replied with an export ban on metals that are used in the semiconductor industry.
The United States Bureau of Labor Statistics published the US monthly employment data sets at 12:30 GMT. The released data caused an immediate drop of the US Dollar, as these official data sets indicate that the US labor market is doing worse than previously assumed.
Meta Platforms has revealed that the company would launch a new app named Threads. The app intends to compete in the microblogging market against the current leader, Twitter.
The Founder of Taiwan Semiconductor Manufacturing Company Morris Chang has commented on US-China relations stating that national security and tech leadership takes precedent before globalisation.
Reuters has reported that Microsoft is set to be under investigation by European Union antitrust regulators, as negotiations between the company and authorities have failed.
The Automatic Data Processing Non-Farm Employment Change number is seen as a precursor to official US employment data. It was forecast that the US would have created 226,000 jobs in June. Instead the ADP data shows 497,000 new jobs created. Due to the news the US Dollar index surged by 0.31% in less than five minutes after the release.
The price for Bitcoin reached today the $31.500 level, which beat the previous June 23 high. By reaching the new high level, the price has booked a level not seen for 13 months. The last time BTC traded this high was in early June of 2022.