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.
German industrial production has decreased more than forecast in March. The decline has occurred due to weak performance of the automotive sector.
43 Republicans of the US Senate have formed a group which would oppose a bill that would increase US debt ceiling without dealing with other issues like the US economy being in a "free fall."
Recent data has revealed that Euro Zone investor morale declined in May, as the market participants see inflation as persistent.
The US President Joe Biden is set to meet with top Democrats and Republicans from the US Congress in an effort to resolve the US sovereign debt ceiling issue and avoid a default by the start of June.
The Ford Motor Corporation has revealed that it expects to spend from $1.5 up to $2.0 billion in restructuring charges in 2023.
Ford Motor Corporation has announced that it would decrease the prices of Mustang Mach-E in the aftermath of Tesla continuing to cut its model prices.
The US Treasury Secretary Janet Yellen has announced that without a debt ceiling increase, the US government would default on June 1.
Reuters has reported that Japanese automakers face competition in China from local producers, which appears to have caused a 32% annual decline of Japanese brand sales.
Artificial Intelligence pioneer Geoffrey Hinton has stated at a recent summit that he had to quit Google to freely speak about the dangers of developing AI.
Bloomberg News has reported that IBM would pause hiring and replace 7,800 jobs with AI. The process is set to take place during the upcoming years.
Reuters has revealed that Morgan Stanley intends to reduce costs by firing 3,000 employees during the second quarter of 2023.
The International Monetary Fund has increased its economic forecasts for the Asian region, as China has implemented economic stimulus programs.
Mercedes Benz has taken out engineers from the Formula One team and assigned them to the creation of efficient electric vehicles for the consumer market.
The US Fed has just increased its Federal Funds Rate from 5.00% up to 5.25%. The markets expected a 0.25% increase. The markets reacted to the news with an initial decline of the value of the US Dollar against other financial assets.
Due to high energy prices, BP has profited $5 billion during the first quarter of the year. The company intends to use $1.75 billion for share buybacks.
As the stock price of Tesla has continued to decline, the company has noticed that financial markets do not approve of the company's price war strategy. Subsequently, Tesla has recently increased car prices across the world.
The recent collapse of the First Republic Bank has spilled over into regional bank shares, which all are experiencing a stock sell off.
The two largest US oil companies Chevron and Exxon Mobil have reportedly encountered issues in deciding what to do with soaring amounts of cash that have been earned on high oil prices.
Recent data has revealed that in April Chinese factory activity had unexpectedly declined, despite the government efforts to stimulate the economy.
The markets expected that the Reserve Bank of Australia would not increase its official Cash Rate. Namely, the interest rate was expected by most to remain at 3.60%. Instead, this morning at 04:30 GMT, the RBA hiked the interest rate by 0.25%.