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%.
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.