The Indian airline Go First has been announced by authorities to have bankruptcy protection. Moreover, a moratorium has been placed on the airline's leases.
The United States Bureau of Labor Statistics has just released the United States Producer Price Index data. US Producer Prices and Core Producer Prices have increased 0.2% in April, compared to the previous decline experienced in March.
Recently released Chinese company quarterly financial results have revealed to the world that despite an increase in dining, luxury and travel consumption other consumer sectors have lagged behind.
The BoE has just increased its Official Bank Rate from 4.25% up to 4.50%. The central bank has decided to hike only 0.25%, despite annual inflation in the United Kingdom once again being above 10.00% mark
The rental booking firm Airbnb has revealed that it expects a decline in global bookings and a decrease of prices in the second quarter of 2023.
After the first meeting of US President Joe Biden and US House of Representatives Speaker Kevin McCarthy, the two parties have concluded that they are in a deadlock in regards to the US sovereign debt.
Decreasing imports and exports in and out of China have prompted economists to expect that the government stimulus programs might not provide the previously forecast impact.
The United States Bureau of Labor Statistics has just published the monthly inflation data sets. US Consumer Price index m/m was forecast to have increased 0.4%. The actual number hit the forecast. Consumer Price Index y/y was forecast to have increased 5.0%. The actual number is 4.9%. Core Consumer Price Index m/m was forecast to have increased 0.3%. Core inflation
Amazon is offering its customers $10 for picking up their purchases on their own instead of delivery. The company intends to cut costs by moving them onto their customer.
LinkedIn has announced that it would fire more than 700 of employees, as the company phases out its Chinese app.
In the aftermath of the SEC accusing Bittrex of running an unregistered exchange, the company has filed for bankruptcy. However, the company would not close its business outside the United States.
US Treasury Secretary Janet Yellen has been reported by Reuters to have been calling various US company Chief Executive Officers to personally warn about the possible catastrophic impact of a United States sovereign default.
German industrial production has decreased more than forecast in March. The decline has occurred due to weak performance of the automotive sector.
43 Republicans of the US Senate have formed a group which would oppose a bill that would increase US debt ceiling without dealing with other issues like the US economy being in a "free fall."
Recent data has revealed that Euro Zone investor morale declined in May, as the market participants see inflation as persistent.
The US President Joe Biden is set to meet with top Democrats and Republicans from the US Congress in an effort to resolve the US sovereign debt ceiling issue and avoid a default by the start of June.
The Ford Motor Corporation has revealed that it expects to spend from $1.5 up to $2.0 billion in restructuring charges in 2023.
Ford Motor Corporation has announced that it would decrease the prices of Mustang Mach-E in the aftermath of Tesla continuing to cut its model prices.
The US Treasury Secretary Janet Yellen has announced that without a debt ceiling increase, the US government would default on June 1.
Reuters has reported that Japanese automakers face competition in China from local producers, which appears to have caused a 32% annual decline of Japanese brand sales.
Artificial Intelligence pioneer Geoffrey Hinton has stated at a recent summit that he had to quit Google to freely speak about the dangers of developing AI.
Bloomberg News has reported that IBM would pause hiring and replace 7,800 jobs with AI. The process is set to take place during the upcoming years.
Reuters has revealed that Morgan Stanley intends to reduce costs by firing 3,000 employees during the second quarter of 2023.
The International Monetary Fund has increased its economic forecasts for the Asian region, as China has implemented economic stimulus programs.