The Official Bank Rate of the Bank of England has been published. Markets expected the central bank to keep rate at 5.25%. Bank of England has done, as expected.
Chinese Tencent Holdings has revealed that fourth quarter revenues increased by 7%. In addition, the company intends to double share buybacks throughout 2024.
Unexpectedly to the financial markets the Swiss National Bank has just cut its base interest rate from 1.75% to 1.50%. The Swiss Franc is losing value due to the news. USD/CHF currency pair jumped 103 base points or 1.16% over the span of five minutes after the news were announced.
The Chief Executive Officer of Apple Tim Cook has visited China and the firm's suppliers in the country. In addition, the CEO is rumoured to have additional plans during his visit that could be associated with the recent drop of iPhone sales in the country.
The stock of Gucci brand's owner Kering has experienced a decline due to a 20% drop of the brand's sales. Moreover, the equity price drop has spilled over into LVHM and Hermes shares.
Chief Executive Officer of Audi Gernot Doellner has stated that the firm would stick to its electric vehicle shift strategy. The company has experienced a decline in EV sales, but still intends to end combustion vehicles sales in 2026.
The luxury vehicle producer Bentley has reported lower 2023 profit that is attributed to weak economy and high interest rates.
The United States Federal Reserve has just announced its Federal Funds Rate. Markets expected the Fed to keep the base interest rate unchanged at 5.50%. The Fed has done exactly that.
The food producer Unilever has announced that it is spinning off ice cream unit and fire 7,500 employees in a cost savings programme. Markets saw the announcement as positive. The stock price of the company surged more than 5.00%.
Reuters has reported that Fidelity International intends to fire 16% of its employees in the Chinese fund unit.
The suppliers of NVidia SK Hynix has launched mass production of new next generation memory chips that are used in AI chipsets.
Chinese Xiaomi has beaten its fourth quarter of 2023 revenue expectations and posted a 10.9% increase in the total revenues.
The Chief Executive Officer of Tesla Elon Musk has revealed in an interview that his use of Ketamine has been benefiting Tesla investors.
The tech company Super Micro Computers has joined the S&P 500 company list, as its value has surged due to demand for AI servers and close cooperation with NVidia.
The US tech giant NVidia has revealed a new AI chip, the B200, which is set to be 30 times faster at some tasks than the preceding chips.
The weight loss drug producer Novo Nordisk has revealed that it would place more grants outside of the home country of Denmark.
BYD, the Chinese electric vehicle producer, continues to reveal upgraded car models with lower prices. Most recently the Destroyer 07 hybrid has received a makeover and an 11.3% reduction in price.
The founder of the Vietnamese electric vehicle producer VinFast has created a new company named V-Green. The firm is set to develop new EV charging stations.
The Bank of Japan has hiked its base interest rate from the -0.10 rate up to +0.10. This it he first rate hike in Japan in 17 years. The event has ended the eight years of negative interest rates in Japan.
The pharmacy giant Pfizer has reduced its stock holdings in the toothpaste Sensodyne maker Haleon from 32% to 24%. These news caused a decline of Haleon's share price.
Bloomberg has revealed to the world that Apple and Google are negotiating a deal that would benefit Google. Namely, Apple intends to use Google's Gemini to power iPhone AI features.
Recent comments made by Bank of England policy makers have hinted that on Thursday the central bank is set to keep the Pound's base interest rate unchanged. Policymakers are looking for more confirmation that inflation has slowed down.
After the US legislators voted to force ByteDance to sell TikTok or be banned, advertisers have expressed views that they would move to other platforms for advertising in the United States.
Reuters has reported that Japanese banks have been training staff for a potential Bank of Japan rate hike.