The financial markets have been observed to be preparing for a return of Donald Trump to the US Presidency. Namely, investors have adjusted to Trump's planned policies that affect the Chinese market, defence stocks and emerging market currencies.
US retailer Target has announced that it expects a sales recovery in 2024. Meanwhile, the company has revealed a new paid membership. The news caused a 12.00% jump of the company's stock price.
The government of the Netherlands has started talks with the country's largest company and semiconductor equipment producer ASML to gain assurance that the firm would remain in the country.
The Asset Management Association of China has reported that local investors have bought up assets abroad and hit the limit for outbound assets. The investors have turned to other markets, as the Chinese market has struggled due to low confidence, real estate sector issues and government involvement.
The ECB Main Refinancing Rate has just been released. As expected, the central bank has kept the rate at 4.50%. In addition, the central bank published its Monetary Policy Statement. The event caused a minor 0.20% dip of the EUR/USD.
The Chairman of the National Development and Reform Commission Zheng Shanjie has reaffirmed that the Chinese government's 5.00% GDP growth target for 2024 would be achieved.
Reuters has reported that the Starbucks franchisee of Middle East AlShaya is set to fire 2,000 employees due to consumer boycotts.
Since the Australian government implemented EV subsidies in 2022, the market has reportedly been taken by BYD and other Chinese electric vehicle makers.
The banking group Morgan Stanley has set out to fire 9% of its asset managers in China, as the country's stock market has been declining.
Despite already harming the demand for Tesla vehicles, the Chinese EV maker BYD has increased its bet on a price war. The company has announced additional 5.00% price cuts for its low budget car series.
In February, Ford sales in the SUV segment increased by 10.5%, as demand for hybrids has been observed to be growing.
A group of Country Garden lenders has hired advisors from Deloitte and Allen & Overy to assist in a possible loan restructuring.
Reuters has reported that a hacker group has claimed that it has received a $22 million random from UnitedHealth, which bought back its lost data.
The Chairman of the US Federal Reserve Jerome Powell has just caused market volatility. Comments made at a testimony before US Congress committee have created various market reactions.
The Portuguese construction firm Mota-Engil has revealed that it has doubled its 2023 profit, as the European country has experienced major increase in demand.
The US company American Airlines has revealed that it has made the largest plane purchase since 2011 by ordering 260 new planes from Airbus, Embraer and Boeing.
This week, the Chinese government announced that it intends to become self-reliant in the tech industry by increasing investment in AI and other tech sectors.
The Alphabet owned firm Google has implemented changes for app developers and users in an effort to avoid upcoming European Union tech regulation.
Bloomberg News has reported that AMD has encountered limits in selling its AI chips to China. Namely, the government has blocked the sale of a chip despite it being specifically designed for the Chinese market.
The Chinese government has announced plans to "transform" its economic growth model and set a GDP growth target for 2024 at 5.00%. In addition, among new tasks the government has picked the defusing of risks from bankrupt real estate firms.
The US White House has announced that it is set to reveal new limits on credit card late payment fees, as the administration intends to help the most indebt citizens.
The stock price of Tesla has started a decline during this week, as the company's sales in China had declined to a low level not seen for a years.
Bloomberg has reported that the Spanish Banco Santander is set to fire 320 US employees, as the bank automates retail processes.
Due to poor market conditions, Chevron has paused production at two biodiesel facilities in the US Midwest.