The President of the Minneapolis Federal Reserve Bank Neel Kashkari has just shook the financial markets. Neel Kashkari has stated that the Federal Reserve could keep interest rates on hold for the whole year, if inflation does not meet the central bank's expectations.
The airline of Richard Branson Virgin Atlantic has announced that it would return to profitability in 2024, as demand has reached a record high.
For the first time in four years, the Japanese economic output has reached full capacity. The recovery signals that the Bank of Japan has room to hike interest rates to battle inflation.
The US Federal Deposit Insurance Corp has started to consider proposing new regulation that would stop State Street, Vanguard and BlackRock from impacting the management of US banks. The major global asset managers have been known for setting rules and demands on firms, which seek capital investment.
This week, General Electric has finished a split into three separate companies. The event marks the end of the 132 year old conglomerate. The aerospace and energy divisions of GE have started to trade separately on the NY Stock Exchange.
General Motors have revealed that their vehicles sales have declined in the US in the first quarter of 2024. However, the US manufacturer has still sold more than Toyota.
In an effort to find more funds for lending, the World Bank has set out to issue new hybrid notes for a total amount of up to $1 billion.
In March, the sales of Tesla vehicles made in China had increased by 0.2% on a year on year basis. However, the growth does not offset the major miss of total global deliveries that was revealed this week.
The Iranian Labour News Agency has reported that in the 12 months up to April of 2024 Iran had exported oil for a total of $35.8 billion.
Reuters has reported that various US and Canadian firms have started the year by firing thousands of employees across various sectors. The layoffs signal that the 2023 firing is set to continue into 2024.
This week, European stock indices have reached new high levels. However, most of the surge can be attributed to weakness of the Euro, as the common EU currency has declined against its peers.
This week, the stock price of Intel declined due to increasing losses at the firm's contract chip producing business. These losses indicate that the company would struggle years to catch up with its rival TSMC.
The stock price of the Chinese electric vehicle maker BYD has started a decline due to the company reporting a decline in sales in the first quarter of 2024.
The market capitalization of the Chinese tech firm Xiaomi has surged by $7.6 billion, as the stock price surged after the company announcing that it would produce electric vehicles.
The tech firm Google has been forced by a California lawsuit to destroy billions of record of client browsing history. It has been revealed by the lawsuit that Google has been tracking and gathering data of users that were using private browsing.
The World Bank has revealed that job creation in South Asia has been lagging the growth of population, which indicates at upcoming increase of unemployment.
In an effort to avoid regulators of various countries, Microsoft has decided to separate MS Office and MS Teams by selling the Teams app separately from the Office software.
The World Bank has raised its 2024 GDP growth forecast for Sri Lanka to 2.2%. The country has been recovering after securing a $2.9 billion loan from the IMF.
The Swiss banking group UBS has announced that it would buy back its shares for a total amount of $2 billion.
In March, the growth rate of Indian factories has hit a 16-year high level. Moreover, factories have continued to hire workers, which indicates at continuous trend.
The stock price of Tesla plummeted nearly 7.00% at the start of Tuesday's US trading. The drop was caused by the company reporting that it has delivered 386,783 new vehicles in the first quarter of 2024. The market consensus forecast was that the company would deliver 431,000.
The Vice President of Bank of China Zhang Yi has commented that the bank's net interest margin is set to continue to face pressure during 2024.
The release of the United States Institute for Supply Management data has revealed that US production has increased of the first time since September 2022.
The top European Union's court has recently rejected Amazon's request to cancel the demand to make it's add repository available to the public.