The United States Department of Defense has revealed that it has contracted Lockheed Martin Corporation for the modernization of 126 F-35 aircraft. The contract amounts to $7.8 billion.
Walmart Incorporated and Energizer Holdings have been sued by retailers and consumers for conspiring to increase disposable battery prices.
Toyota Motor Corporation has announced that it has beat its annual car production target of 9.1 million vehicles.
The largest German bank Deutsche Bank has revealed that it would fire 800 employees in another cost cutting campaign.
Despite having the option to continue to raise prices in an inflation environment, Tyson Foods has announced employee layoffs. The company intends to fire 10% of corporate and 15% of senior leader position holders.
The UK banking group Barclays has managed to beat its quarterly earnings expectations. The consumers have been reportedly using credit cards to cope with the double digit UK inflation. Barclays has profited from credit card fees.
United Kingdom's antitrust regulators have commented that they would stick to the decision to block Microsoft's acquisition of Activision Blizzard.
The Republicans of the US House of Representatives have managed to move forward a bill that would increase the US debt ceiling up to $31.4 trillion. Next step for the law is to be passed by the US Senate.
The UK pharmacy company AstraZeneca has beat its quarterly result expectations. The good results were attributed to the cancer drug Imfinzi and sales across emerging market countries.
Unilever has smashed quarterly results by revealing that the company is capable to continue to hike prices. The company has increased sales by 10.5% via hiking prices by 10.7%. Meanwhile sales volumes had declined only 0.2%.
The US Treasury Secretary Janet Yellen has stated that a US default on sovereign debt would cause an economic catastrophe. The US service of debt has come into question, as interest rates have continued to surge and the US Congress fails to negotiate on a new debt ceiling.
The United States Bureau of Economic Analysis has just published the country's quarterly Advance GDP data. The markets expected that the GDP would have increased by 2.0% during the quarter. The data came in below expectations, as GDP had increased by 1.1%.
The United States Conference Board consumer confidence survey results have revealed that the index has reached a nine month low level.
The stock price of Facebook owner Meta has jumped $25.45 or 12.14% in US pre-market opening trading. The jump of the equity was caused by better than expected quarterly financial results.
The parent of Google has announced that the company would buy back stock for a total amount of $70 billion due to the company beating its first quarter earnings estimates.
Microsoft has announced that the company has launched a new data centre in Poland in the southern part of the country at Katowice.
The Swiss banking group UBS has revealed that due to setting aside emergency funds for covering investments in toxic mortgages the bank has reduced its first quarter profit by half.
Microsoft published its quarterly results after Tuesday's trading hours. The company has revealed stunning results, which caused the stock to trade up 8.37% at $298.72, before Wednesday's open. The stock price has reached levels not seen since April 2022.
The First Republic Bank has experienced another stock price drop, as the bank has revealed that its deposits have plummeted by mora than $100 billion.
Reuters has revealed that most investors have been buying short term, one-month US Treasury bills instead of longer term bonds due to the issues associated with the US debt ceiling.
The stock price of Nestle has spiked almost 2.00% due to the publication of the company's quarterly financial results. The company appears to be resilient against inflation, as it has hiked its product prices by 9.8%. However, as sales volumes have decreased, the company has experienced a -0.5% decline of what it calls real internal growth.
Reuters has reported that Chinese authorities have requested local banks to reduce deposit interest rates in an effort to stimulate domestic consumption.
The US House of Representatives is set to vote this week on a law that would increase the US sovereign debt ceiling.
Credit Suisse has announced that the company has lost $68 billion in assets in the first quarter of 2023.