Reuters has reported that WeWork could file for bankruptcy highly likely next week, as the company continues to struggle with debt and losses.
As the markets expected, the Bank of England has kept the Official Bank Rate at 5.25%. The GBP/USD initially reacted with a 21 point or 0.17% surge and reaching above the 1.2200 mark.
The United States Treasury Department has announced that it would need an additional quarter of debt auction size increases to meet the US financing needs.
The European Union data regulators have revealed that they could ban targeted advertising on Instagram and Facebook. Noncompliance with the ban could cost Meta up to 4.00% of the global turnover.
The CEO of Tesla Elon Musk has announced that the company intends to produce 200,000 electric pickup trucks per 2024.
The United States Federal Reserve has just revealed that it will keep the Federal Funds Rate unchanged at 5.50%.
The quarterly earnings publication of AMD has caused a 7.30% surge of the company's stock price. The company beat the earnings per share forecast by 3.02% and the total revenues by 1.77%.
In October, factory activity in China unexpectedly declined, which indicates that the post-Covid recovery of the economy might be losing momentum.
Reuters has reported that Chinese firms have been buying up French and Australian wheat. The buying has started due to Chines crop being damaged by dry weather.
The Bank of Japan has kept its policy rate at -0.10%. In addition, the board announced details that caused a drop of the Yen. Namely, the BoJ revised its inflation forecasts for 2023, 2024 and 2025. If compared to US and European announcements of 2.00% inflation in 2024, the news indicate that the Bank of Japan will do less tightening
The Chief Executive Officer of Carlsberg has announced that the company is cutting all ties to its Russian business, but refuses to make a deal with the Russian government. Any of the proposed deals would only legitimize the already done seizure of Carlsberg assets.
British Petroleum has reported its third quarter financial results. The markets expected the company to have earned $4.0 billion. However, the actual earnings were $3.3 billion.
United States pharmacy workers from Walgreens and CVS have started three day walkout to protest working conditions.
The hard drive maker Western Digital has revealed that it intends to split into two companies. The news caused a major surge of the company's stock price.
The Japanese electronics manufacturer Panasonic has revealed that it has reduced its production of electric vehicle battery production due to the expectations of a decline of the EV market.
The US restaurant chain McDonalds has reported higher than expected quarterly profit due to cheaper menu and McNugget promotion. The news caused a surge of the company' stock price.
The Ford Motor Company has announced that it expects lower profits due to a decline in demand for electric vehicles.
Due to support from the government Chinese industrial profits have reported to have continued to increase in September.
The Tokyo October Core CPI has increased to 2.7% instead of the market expected 2.5%. The new data pressures the Bank of Japan into ending its ultra-easy monetary policy.
The airplane maker Boeing has announced that its defence business has once again booked an annual loss. The total losses amount to $1.7 billion.
At 12:30 GMT the US Core Personal Consumption Expenditures Index revealed that month on month the inflation that affects the consumers had increased by 0.3%. The high reading was expected, due to which the US Dollar reacted with a slight decline from 106.65 down to the 106.35 mark.
Reuters has reported that Shell has decided to fire 15% of its low-carbon solutions unit. The company has decided to scale back an ongoing hydrogen overhaul.
United States interest rates on home loans have reached a high level not seen since September 2000. The average rate for a 30-year fixed mortgage has reached 7.9%.
As the USD/JPY currency exchange rate has reached above the 150.00 mark, the Japanese officials have reaffirmed their stance that excess currency volatility is seen as undesirable.