The US monthly Consumer Price Inflation has increased by 0.1% instead of the forecast 0.3%. Year-on-year inflation is at 7.1%, compared to forecast 7.3%. Meanwhile, core CPI month-on-month is at 0.2% instead of 0.3%. The markets reacted to the news with an immediate spike up, as US 500 index hit the 4,140.00 mark.
As South Korean shipyards have reached full capacity for the production of liquefied natural gas freight ships, Chinese shipyards have been receiving the left over orders. The Chinese companies have reported an increase of orders of up to 30%.
This week, the authorities of the Bahamas have arrested the CEO of FTX Sam Bankman Fried and intend to extradite the culprit to the US Department of Justice.
The US Treasury Secretary Janet Yellen has stated that inflation in the United States would decline by the end of 2023, unless an unexpected shock impacts the economy.
Microsoft would buy a 4% stake in the London Stock Exchange. The acquisition is part of the 10-year deal that is set to incorporate the exchange's data into the Microsoft cloud.
Toyota Motor Corporation is set to outline its next three year electric vehicle strategy. The new strategy is expected to reveal measures for catching up with BYD and Tesla.
The stock price of Microsoft surged at the start of the day's trading, despite a broad stock sell off taking place. The company's share price reacted to the US FTC banned the Microsoft's $69 billion acquisition of Activision Blizzard.
Reuters published information on Monday that Air India is closing in on a decision to order 500 jetliners from Boeing and Airbus for a total value that would reach into tens of billions of USD.
Recently released data has revealed that Japan's wholesale inflation had steadied near a year-on-year rate of 9.3%.
On Monday, the price for oil surged, as it was announced that it is unclear when would the US Keystone oil pipeline reopen.
On a month-on-month basis the United Kingdom gross domestic product has increased by 0.5%, instead of the market consensus forecast of 0.4%. The higher than forecast GDP revealed that the Bank of England has room for interest rate hikes. Due to that reason, the Pound surged against peer currencies. The GBP/USD surged nearly 40 base points or 0.31%.
The Chief Executive of Blackstone Stephen Schwarzman has stated that REIT investment redemptions have been driven by investors that were avoiding market volatility not dissatisfaction with the fund.
The Turkish maritime authorities have issued a statement that they would continue to block inappropriately insured oil tankers from passing through the Bosporus strait.
Weekly United States jobless claims have increased over the past week by 4,000 and have reached 230,000. Meanwhile, continuous jobless claims have risen by 62,000 and have hit a 10-month high at 1.671 million.
As Credit Suisse approaches the final stage of its $4.25 billion worth new stock sale, Reuters has reported that its sources expect the bank to succeed in raising the additional cash and financing a recovery of the bank.
Blackstone Private Credit Fund has revealed in a regulatory filing that in the fourth quarter of 2022 the fund has received withdrawal requests from its investors that amount to nearly 5.00% of the total outstanding stock.
In November, Chinese exports have reached worst level since February 2020, as the steepest decline since May 2020 has been observed. The decline has been attributed to a decline in global demand and local production disruptions.
Tesla has announced a 6,000 Yuan ($859.20) to Chinese buyers starting from Wednesday up to the end of the year.
The Chief Financial Officer of BlackRock Gary Shedlin has revealed that the company would freeze hiring and reduce spending. In October, the asset manager revealed that its assets under management had decreased by 16%.
The government of South Korea and foreign electric vehicle makers have asked the US administration to create a $4,000 tax credit for EV buyers. The producers have suffered since the US cancelled a prior $7,500 tax credit for EVs assembled outside of North America.
The South Korean electronics companies LG and Samsung have revealed plans to invest additional $2 billion in Vietnam.
The Chief Economist of the European Central Bank Philip Lane has stated that the central bank would have to increase interest rates to tame inflation, despite inflation being close to peak.
In the aftermath of the FTX fiasco, the US bank Goldman Sachs has decided to invest in crypto companies with decreased valuations.
Due to government incentives, BP has decided to invest in a new hydrogen fuel production hub in Whiting, Indiana.