The gas and electricity utility firm CenterPoint Energy has announced that it expects the costs to restore damage from the Hurricane Beryl to amount to as high as $1.3 billion.
The pharmaceutical firm Pfizer has announced that it is increasing the firm's expectations for 2024 profits, as there is strong demand for heart and cancer drugs.
The airline JetBlue Airways has published a higher than expected quarterly profit. Moreover, the firm has found a way to delay a $3 billion purchase of new Airbus airplanes.
For the second time this year, PayPal has raised 2024 profit forecast due to improving profit margins and spending hold ups.
UK authorities have announced that they are investigating Alphabet's partnership with the AI start up anthropic, as the partnership could impact competition in the sector.
The Singapore sate investment firm Temasek has announced plans to invest up to a total of $30 billion in US firms. Investments are set to be done over the span of the next five years.
Pershing Square, the firm owned by billionaire Bill Ackman, has revealed that it intends to raise $2 billion in a US initial public offering.
At 11:00 GMT Bank of England decided on the Official Bank Rate. Official Bank Rate has been decreased by 0.25%. BOE rate is 5.00%.
The Bank of England has reduced its Official Bank Rate from 5.25% down to 5.00%. This rate cut was expected by the market analyst consensus forecasts. The GBP is reacting to the rate cut with a decline. However, since the cut was already expected, the Pound already declined during the morning hours.
The stock price of Meta is set to start the day's trading with a $33.66 or 7.09% gap up. The gap up will occur due to the company reporting higher than expected quarterly financial results.
The Italian luxury car producer has announced that its Dutch parent Ferrari N.V. has joined an Italian tax compliance programme, which includes pre-emptive and regular checks.
The US electric vehicle producer Tesla has announced the recall of 1.8 million vehicles due to a software issue. EV software has been reportedly failing to detect an unlatched car hood.
Merck & Co have revealed higher than expected second quarter financial results. Earnings are attributed to Keytruda, the cancer immunotherapy drug.
Due to an increase in conflicts across the globe, the defence contractor Leidos has increased the firm's 2024 profit targets, demand for weapons continues to increase.
Meta Platforms has announced that the firm will introduce a new software AI Studio that allows users to create personalized AI chatbots.
The US Federal Reserve has just published its Federal Funds Rate and the Federal Open Markets Committee Statement. The FED has kept interest rates at 5.50%.
Due to a price war with Chinese automakers, in June, Toyota has experienced a fifth straight month of global output decline.
Semiconductor giant Advanced Micro Devices reported quarterly results after yesterday's US market close. In general, the firm has managed to beat quarterly expectations, which is causing a surge. The news are the reason for $10.88 or 7.84% gap up of the stock price.
The stock price of Microsoft has started the day's trading with a drop, despite beating quarterly earnings expectations. In general, the company has given up most of its revenue gains to higher costs, due to which the profit increase has been minor.
Market consensus was that the European CPI would show a reading of 2.5%. Actual number is 2.6%. Meanwhile, Core CPI showed a reading of 2.9% instead of 2.8%. The numbers signal that the ECB might have been too early to cut interest rates.
As the US Federal Reserve considers decreasing rates, the Bank of England being set to cut this week and the European Central Bank already have cut rates, the Bank of Japan faces a different situation and has raised base interests rates. The event has caused a move of the USD/JPY rate to the 150.00 mark.
The Japan's largest investment bank and brokerage Nomura Holdings has revealed first quarter profits. Nomura has reported a 195% increase in quarterly profits, as the global stock surge and high inflation has caused major demand for investing and wealth management services.
UBS has reported that the banking group expects Australian firm corporate profits to drop in 2024, as firms are experiencing a decline of earnings since the Covid pandemic.
An economist survey done by Reuters has revealed that official Purchasing Managers Index has revealed that the sector is set to decline, as the July reading is expected to decrease to 49.3, compared to 49.5 in July.