43 Republicans of the US Senate have formed a group which would oppose a bill that would increase US debt ceiling without dealing with other issues like the US economy being in a "free fall."
Recent data has revealed that Euro Zone investor morale declined in May, as the market participants see inflation as persistent.
The US President Joe Biden is set to meet with top Democrats and Republicans from the US Congress in an effort to resolve the US sovereign debt ceiling issue and avoid a default by the start of June.
The Ford Motor Corporation has revealed that it expects to spend from $1.5 up to $2.0 billion in restructuring charges in 2023.
Ford Motor Corporation has announced that it would decrease the prices of Mustang Mach-E in the aftermath of Tesla continuing to cut its model prices.
The US Treasury Secretary Janet Yellen has announced that without a debt ceiling increase, the US government would default on June 1.
Reuters has reported that Japanese automakers face competition in China from local producers, which appears to have caused a 32% annual decline of Japanese brand sales.
Artificial Intelligence pioneer Geoffrey Hinton has stated at a recent summit that he had to quit Google to freely speak about the dangers of developing AI.
Bloomberg News has reported that IBM would pause hiring and replace 7,800 jobs with AI. The process is set to take place during the upcoming years.
Reuters has revealed that Morgan Stanley intends to reduce costs by firing 3,000 employees during the second quarter of 2023.
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.