The Chief Financial Officer of BMW Nicolas Peter has stated that the company expects to reach its 7.00%-9.00% margin target, as demand in China had recovered during the third quarter of the year.
On Monday, the Philippines government announced that it would shut down 175 offshore gambling companies and deport 40,000 Chinese workers.
This week, a decline in demand for copper was attributed to copper prices reaching a two-month-low level.
Reuters has reported that the ongoing war in Ukraine and droughts have resulted in global grain stocks reaching a decade low level.
The Finance Minister of Japan Shunichi Suzuki announced that Japanese authorities would respond to speculative currency moves. The warning was issued in the aftermath of the Bank of Japan intervening in the market.
This week, the Pound sharply declined, as the UK government revealed that it would implement a fiscal stimulus program. The GBP/USD declined below its previous 1985 all-time low level.
Samsung has revealed plans to lure in additional 175 million customers in India with a new cashback card program.
With the start of Monday's trading, the Pound reached a new record low level against the USD. The selloff of the UK currency was caused by the new fiscal budget plan.
The Wall Street Journal has let the public know that Meta intends to cut at least 10% of the company's costs within the next few months.
The CEO of Renault has revealed that the company aims to reach its goals for an integrated electric vehicle chain before 2030.
In tandem with the US Federal Reserve, various Persian Gulf country central banks have increased their currency base interest rates. Namely, Bahrain, Saudi Arabia, Qatar and United Arab Emirates all have hiked.
In the aftermath of this week's Federal Reserve Rate hike and press conference, major banks like Barclays and Goldman Sachs have increased their Fed Fund Rate hike forecasts.
This week, the Bank of England, Swiss National Bank, Norges Bank and Sveriges Riksbank all hiked interest rates from 0.50% up to 2.00%. The hikes came in tandem with the US 0.75% rate hike, as the world is fighting inflation.
In August, US already existing home sales had declined less than expected. The markets expected 4.87 million homes to be sold. However, the actual number came in at 4.81 million. In July, 5.12 million homes were sold.
Average US mortgage rates have reached the highest level since October 2008, as the interest rates have reached the 6.25% level.
At 11:00 GMT, the Bank of England voted to hike interest rates by additional 0.50%, as it was expected by the markets. Moreover, the markets expected the decision to be unanimous. The committee voted exactly that way, as all nine members voted for a 0.50% hike.
The German government has nationalised the energy giant Uniper with a 8 billion Euro buyout. The government had already subsidized the company, before taking over.
It has been reported that for the first time since 1998, the Bank of Japan has intervened in the currency market with a direct transaction. The central bank operation has been confirmed by the bank's representative Masato Kanda, who stated "We have taken decisive action in the exchange market."
Due to higher food prices, General Mills has increased its full year earnings and profit forecasts. The news caused a surge of the company's stock price.
The Financial Times have reported that various United States banks have threatened to leave the United Nation's climate envoy's financial alliance due to legal risks.
The market consensus was that the US Federal Reserve would hike its base interest rate from 2.50% up to 3.25%. At exactly 18:00 GMT the rate was hiked as expected by 0.75%.
The Swiss bank UBS Group has revealed that it has experienced positive client fund flows during the third quarter.
For the first time since the pre-pandemic period land prices in Japan had increased in August. The government attributes the rise the easing of Covid-19 measures.
A United Nations affiliated group has reported that the top 40 global food producers are set to lose 25% or $150 billion of their value due to the ongoing climate changes.