Facebook owner Meta has started a final round of employee layoffs, which is part of a program to eliminate 10,000 positions.
The stock price of NVidia has started the day's trading with a 26.08% or $79.68 gap up. The price action was caused by the company's last night's earnings release.
The United States Bureau of Economic Analysis has published the US quarterly Preliminary GDP data. GDP was expected to have increased by 1.1%. The actual number has been revealed to be 1.3%. The news strengthened the USD.
The Chinese government has announced that it is against the recently made trade agreement between the United States and Taiwan.
The streaming service company Netflix has increased its measures against password sharing in more than 100 countries. The company has forbidden passwords to be shared outside households.
United Kingdom's monthly consumer price index increase has been reported to be 8.70% year on year. The inflation number was higher than expected. However, inflation has declined below 10.00%.
In the aftermath of the recent Bud Light marketing campaign, Heineken has observed an opportunity to take over a part of the US market. The company intends to revitalise its US business and compete with Anheuser-Busch.
The co-founder of Microsoft Bill Gates has recently stated that top AI agents will replace search and shopping sites.
Chevron Corporation has announced this week that it would acquire PDF Energy for $7.6 billion. The major oil company intends to increase its production by 260,000 barrels per day.
The United States Treasury has confirmed that the first of June is the deadline for a US debt ceiling increase. In the case of no increase the US government would default.
The Reserve Bank of New Zealand has unexpectedly revealed that it would end its monetary tightening cycle. This morning, the central bank hiked its rate from 5.25% up to 5.50% and announced that it is the last hike.
During the most recent negotiations done on Monday, the US President Joe Biden and US House Speaker Kevin McCarthy have failed to reach an agreement on an increase of the US sovereign debt ceiling.
The government of Australia has revealed that it would take action against the accounting firm PricewaterhouseCoopers for leaking government tax plans.
Financial Times has reported that a group of Credit Suisse employees are set to sue Swiss regulators over lost $400 million AT1 bonuses that were cancelled after the troubled bank's takeover.
The airline Ryanair has revealed that it expects strong demand for travel during this summer and subsequently forecasts an increase of profits.
Recent polls show that most economists have realized after the recent speech of the Chairman of the Federal Reserve Jerome Powell that the Federal Reserve would not cut interest rates during 2023.
Facebook parent company Meta has received a $1.3 billion fine from the European Union regulators for sending user data to the United States. Moreover, the company is being forced to stop its practices.
The Chinese electric car maker BYD has created a new division that would deal with the company's lagging behind in autonomous driving.
The recent Japanese first quarter GDP data has revealed that the Japanese economy has emerged from the recent minor recession and grown by 1.6%.
Home prices in China have continued to grow in April, as an increase of +0.4% has been reported. However, the pace of growth has slowed down compared to 0.5% in March.
UBS Group AG has revealed in a regulatory filing that it was rushed into buying its rival Credit Suisse Group in an unwanted deal.
The ex-CEO of Frist Republic Bank Michael Roffler has stated that the collapse of the bank occurred due to contagion from other banks not strategy, liquidity or bank's management.
UBS Group AG has revealed that it expects to take a loss of $17 billion due to the takeover of Credit Suisse.
The Chief Executive Officer of Tesla Elon Musk has warned investors that the company would not be immune to the upcoming tough economy.