The White House has expressed its dissatisfaction with the ExxonMobil record $56 billion annual profits, as the US government has blamed the companies in price gouging.
Recent South Korean -16.6% annual decline of January exports together with the -0.4% decline of last quarters GDP indicates that the country is set to enter a recession.
The Chairman of the US Federal Reserve has revealed in the post-rate-hike press conference that the US Federal Reserve would continue to hike interest rates throughout 2023 and no rate cuts are foreseeable during the year.
The United States Federal Reserve Federal Open Market Committee has hiked the US Federal Funds Rate from 4.50% up to 4.75%. The market consensus was that the US Fed would hike the base interest rate by 0.25%.
Reuters has reported that German firms have been hiring up employees, which have been fired by Silicon Valley firms.
Despite chip profits reaching the lowest level since 2009, Samsung intends to continue to invest in the sector, despite the expectations of a continuous decline of demand.
In January, the Chinese economic activity has reportedly returned to growth, as It has been indicated by the official purchasing managers index.
The World Gold Council has revealed that global central banks have bought a record high amount of gold not seen since 1967. Central banks have added to their inventory 1,136 tonnes of gold, which amounts to nearly $70 billion.
The sovereign wealth fund of Norway has announced that in 2022 it had suffered a loss of $164.5 billion or 1.64 trillion NOK. The previous largest loss of the fund was 633 billion crowns in 2008.
At 13:30 GMT, the Canadian GDP was revealed to have increased by 0.1% on a month on month basis. The news caused a surge of the Canadian Dollar against other currencies. As a result, the decline of the USD/CAD spilled over into a broader decline of the US Dollar index.
Following the example of Tesla, Ford Motor Company has announced that it would reduce the prices of Mustang Mach-E electric vehicles.
Philips has announced that the company would fire additional 6,000 employees in an effort to increase profit margins.
Fourth quarter German GDP data has revealed that the country's Gross Domestic Product had shrunk by 0.2% instead of the expected stagnation.
Toyota has revealed that the company has sold 10.5 million vehicles during the year of 2022, which puts it above the Volkswagen Group's 8.3 million vehicles.
The Chief Executive of TikTok Shou Zi Chew is set to testify before the US Congress, as lawmakers are set interrogate the CEO in regards to the app's security.
SAP has announced that it would cut its workforce by 2.5% by cutting nearly 3,000 jobs. Moreover, the company is set to sell its stake in Qualtrics.
The IBM Corporation has announced that it would lay off 3,900 employees. Moreover, the company has missed its annual cash target.
The CEO of Tesla Elon Musk has recently stated that the recent price cuts have increased demand for the company's vehicles, which should increase total sales.
The oil company Chevron has announced that it is tripling its share buyback budget from $25 billion up to $75.
Nokia has revealed that it expects the company to increase its telecoms market share and its sales in 2023.
In December, advertising expenditure on Twitter ads had decreased by 71%. The information has been compiled and published by Standard Media Index.
Due to a weakening of exports to Asia, the Japanese government has cuts its overall economic outlook for the first time in a period of 11 months.
The airline EasyJet has revealed that due to strong bookings for 2023 the company expects a return to profits.
The insurance broker Aon has revealed that due to various climate disasters the world has suffered a loss of $313 billion in 2022.