As it was expected by market analysts, the European Central Bank has kept its base interest rate at 4.50%. In general, the ECB has continued to follow the example of the US Federal Reserve.
It has been revealed by in-depth analysis of the recent Consumer Price Index data that high rental costs have been the main driver for stubborn inflation.
The United Kingdom's central bank has just announced the Official Bank Rate and released the Monetary Policy Summary. As forecast by the market consensus, the bank kept the rate at 5.25%. The Monetary Policy Committee was expected to vote with two members voting for an increase and seven for keeping the rate intact. However, three instead of two members wanted
The Payments Systems Regulator of the United Kingdom has proposed to cap cross-border interchange fees that are charged by Visa and MasterCard in the UK and EU markets.
As it was expected by market analysts, the Swiss National Bank has kept its SNB Policy Rate at 1.75%. However, despite the flat rate, the Swiss Franc lost value, as the central bank announced a change of future inflation forecasts.
Due to an issue with autopilot safeguards, Tesla has announced a recall of 2 million United States vehicles.
The market consensus forecast was that the US Fed would keep its Federal Funds Rate at 5.50%. As expected, the rate was kept at that level. The US Dollar index reacted to the initial rate announcement with a sharp drop to levels near 103.50.
On Wednesday, Pfizer announced that their 2024 sales were expected to be $5 billion below Wall Street market expectations. The announcement caused a major decline of the company's stock price. The stock price of the company lost $2.45 or 8.59% of its value at the start of Wednesday's US trading.
The release of the US Producer Price Index has caused a minor 10 point decline in the US Dollar index. The move occurred due to the lower than expected Core PPI at 0.0% instead of 0.2% and the revision downwards of the previous month's PPI from -0.5% to -0.4%.
After experiencing low toy sales the children's toy producer Hasbro has announced that it would fire 15% of its workforce by laying off 900 employees.
In the aftermath of the US CPI publication, US futures contracts have adjusted to reflect a 40% chance that the US Federal Reserve would cut interest rates in May.
After giving up the rights to the cancer drug Bavencio, Pfizer has received permission from US regulators to buy Seagen. The deal is set to amount to $43 billion.
The UK's Chamber of Commerce in China has revealed that sixty percent of British firms have come to the conclusion that the Chinese economy had been slowing down, which creates challenges for the firm investment operations.
The release of the quarterly financial results of Oracle have disappointed for a third quarter in a row. The stock price of the company plummeted from the Tuesday's closing price of $115.08 to an opening on Wednesday at $102.65.
The United States have just released the monthly Consumer Price Index data sets. In general, the event caused large volatility of the Dollar, as the released data was mixed.
Reuters has reported that Chinese AI chip designers have been taking over NVidia's market share in the country. The most prominent mentioned has been Tencent.
Brigade Capital Management and Arkhouse Management have offered to buy out Macy's stock for $21 per share and take the company private.
The oil company Occidental Petroleum has announced that it would buy the Permian basin-focused company CrownRock in a deal that would amount to $12 billion.
The US stock indices have started the week with a booking of new 2023 high levels, which signals that the markets expect positive news from the upcoming US CPI and Federal Funds Rate announcement.
During today's trading session, the price for US Natural Gas has plummeted more than 10.00%, as the price reached the $2.30 mark. The today's drop is another extension of the broad decline that started after the pair touched the $3.64 level in late October. Since the event, the price has decreased by 37.05% over the span of six weeks.
The crypto exchange Binance has withdrawn its application for a licence in Abu Dhabi, as it changes its global structure.
The Hong Kong airline Cathay Pacific has reported that it has ordered six Airbus A350 airplanes to replace current Boeing 747 cargo jets.
The Chinese tech company Tencent Holdings has revealed a new ambitious video game for consoles named Last Sentinel. With the move Tencent intends to compete in the console market.
Reuters has reported that Boeing has been in talks to sell 80 wide bodied 787 Dreamliner jets to Thai Airways. The company appears to be interested in renewing its fleet with Boeing not Airbus airplanes.