A United Nations affiliated group has reported that the top 40 global food producers are set to lose 25% or $150 billion of their value due to the ongoing climate changes.
In August, Chinese coal imports from Russia and Indonesia increased, as an ongoing heat wave increased energy consumption. Namely, the Chinese population massively used air conditioners.
German producer prices have been revealed to have hit a new high level in August, as a 174.9% surge in energy prices has resulted in an overall year-on-year increase of 45.8%.
In September the US home builder sentiment had continued to decline for a ninth consecutive month, as the builders suffer due to rising mortgage rates and material costs.
At 12:30 GMT, Statistics Canada revealed that inflation in Canada had decreased more than expected. The news caused a decline of the Canadian Dollar, as it signals that the Bank of Canada is managing in its fight against inflation and it could reduce its monetary tightening plans.
Reuters has surveyed economists, which have stated that to stop the four decade-high inflation in Canada the country would have to enter a recession.
This week, the CEO of Daimler Truck Martin Daum stated that if there would be no supply shortages the company would deliver a five-digit figure amount of trucks in 2021 and 2022.
Reuters has reported that the Chinese government would accelerate various projects and boost consumption to create an economic recovery.
This week, the 10-year US Treasury yield has reached its highest level since 2011. The rise has been attributed to the incoming US Federal Reserve rate hike.
The stock price of FedEx plummeted 23.25% during Friday's trading. This is the company's biggest price drop ever. However, by Monday's 17:45 GMT, the shares had staged a recovery of 4.82%.
As the day's US trading started, the stock price of Take-Two Interactive Software plummeted nearly 6.00%. The drop occurred due to the leaking of early footage of Grand Theft Auto VI during the weekend.
Electrolux recently announced that the company would start a new cost-cutting programme due to the ongoing high inflation.
Volvo Cars has revealed that in September it has resumed limited production operations at one of the company's plants in China.
The EU antitrust regulators revealed that they would broaden their investigation to include Google's overtaking of a Portuguese competitor.
The Kroger Company has increased its 2022 profit and sales forecasts, as the company expects an increased demand for essentials and groceries.
Two leaders of congressional committees intend to probe how the US airlines handled the Coronavirus drop and recovery of demand. The US government subsidized the industry in three round that amounted to a total of $54 billion.
In July the United States Commerce Department revised its July wholesale inventories increase data to 0.6%, instead of previously reported 0.8%.
The Federal Reserve officials have ended a period of public comments and a consensus has been reached in the markets that the US central bank is set to do a large sized interest rate hike at its September meeting.
Analysts from Coalition Greenwich have reported that global investments banks are set to make $20 billion on trading commodities in 2022.
Reuters has revealed that various European banks are demanding that the European Central Bank hikes its base interest rates by 0.75% at its October meeting.
In the aftermath of the ECB rate hike, various policymakers of the central bank have revealed that additional rate hikes are required to fight inflation.
The governments of France and Germany have pledged unity in their support of the European economy in its struggle against inflation. Namely, the two countries would coordinate fiscal policy.
The Texas Comptroller's Office has revealed that Tesla might set up a lithium refinery in Texas, if the company would receive a local property tax relief.
BMW has announced that the company would power its new 2025 fleet of electric vehicles with cylindrical type of battery cells. The cells would be produced in six CATL and EVE factories.