Reuters has revealed that British Petroleum intends to abandon its production cut goals and review its broader strategy. Previously, the firm was expected to cut production by 25% by 2030.
The Chief of the French Central Bank Francois Villeroy de Galhau has revealed to an Italian newspaper that the ECB is most likely going to cut interest rates at its October 17 meeting.
The major bank Goldman Sachs has reduced its expected odds of a recession in the United States by the end of 2024 to 15%. The reduction was done due to good monthly employment data.
Reuters has received information that Samsung Electronics does not intend to spin off its foundry business.
Goldman Sachs has increased its end of year forecast for the S&P 500 index. The target has been raised from 5,600.00 up to 6,000.00.
The monthly US Consumer Price Index data has revealed that inflation in the USA is higher than expected. Dollar is trading with increased volatility. US CPI is 0.2% instead of 0.1%. Core CPI increased 0.3% not 0.2%. Annual inflation is 2.4% instead of expected 2.3%.
Atsushi Mimura, Japan's top currency diplomat, has stated that the government monitors the FX market for speculative Japanese Yen trading.
The German steel producer Thyssenkrupp has announced that the company would review its green steel production plans, as the green solution appears not to be economically viable.
The Tokyo Metro intends to raise $2.4 billion in its initial public stock offering. This would make the IPO the largest in Japan since 2018.
The US oil giant Chevron has announced the sale of its Athabasca Oil Sands project in Canada to Canadian Natural Resources for a total of $6.5 billion.
The US liquor maker Constellation Brands has revealed that it has managed to pass quarterly financial result estimates due to high demand for Corona beer.
The asset manager Blackstone has announced that the firm would raise almost $10 billion to create a new Asia oriented private equity fund.
Uber Technologies have teamed up with the autonomous tech start up Avride to develop new solutions for robotaxi services and food delivery.
In September, total announced employee firing numbers declined, after reaching a five-month high in August. US firms had announced 72,821 lay-offs in September, compared to 75,891 in August.
In the aftermath of major price drops, the US office real estate market has been observed to be bottoming, as reduced interest rates have revived demand.
The ChatGPT maker OpenAI has attached new investment from Microsoft, Nvidia and venture capitalists. The total attracted investment is $6.6 billion.
The US retailer Amazon has announced its plans to hire 250,000 workers in warehouses and transportation to meet this holiday season demand.
A US Federal judge has dismissed the Department of Justice case that accused eBay of allowing the sale of harmful products like motor pollution avoidance kits and pesticides.
US carmaker Stellantis has recalled 194,000 Jeep plug-in hybrid cars due to fire risks.
The Federal Communications Commission has fined T-Mobile with a $31.5 million fine for data breaches that impacted the firm's clients over the span of three years.
The US Federal Trade Commission has allowed Chevron to acquire Hess Corporation for a total of $53 billion, if the current CEO John Hess does not get a seat on the Chevron board of executives.
The Canada based Toronto Dominion Bank has agreed to pay a $20 million fine to resolve the ongoing spoofing case with US authorities.
President of the Atlanta Federal Reserve Raphael Bostic has revealed to Reuters that he is open to another 0.50% Federal Reserve interest rate cut.
Various major banks have published their outlook for gold prices in 2025. In general, most bankers expect the bull run to continue and gold to book new all-time high levels.