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Despite the US Consumer Price Index not impacting the markets on Tuesday, there is still inflation at the producer level. Namely, the publication of the US Producer Price Index has revealed that inflation in the US is persistent. The Fed cannot cut interest rate, if prices continue to rise. Due to this reason the US Dollar index surged.
After missing quarterly revenue expectations Dollar Tree has announced the closure of a total of 1,000 stores. The stock price of the company plummeted 14.00% on the news release.
Wells Fargo has expressed concerns about the effect of Tesla car price cuts and their effectiveness. Due to this reason the bank has downgraded the automaker to underweight.
The US pharmacy chain Eli Lilly has partnered up with Amazon to sell prescription drugs via a direct-to-consumer service.
For the first time since 1992, Adidas has experienced a net loss instead of profit. Moreover, the company has warned that sales it expects a sales decline in North America.
Japanese automaker Toyota Motor has announced the largest wage increase in 25 years. The large pay increase is speculated to push the Bank of Japan into a policy shift, as higher wages could trigger inflation.
The Chinese electric vehicle maker BYD has introduced a new e2 hatchback that is cheaper than the previous one. The new price is 12.7% lower than the one of the previous version.
As a part of major restructuring PwC Australia has announced the layoffs of additional 329 employees. The firms has been restructuring in the aftermath of a tax plan leak scandal.
The anti-obesity drug maker Novo Nordisk has revealed that it expects to launch its new drug amycretin during this decade.
The market capitalization of NVidia has continued to surge. Most recently the company has approached Apple's evaluation levels. Recently, Microsoft took over Apple and bumped it down to the second most expensive company's spot.
The US energy company Chevron is set to face a bidding competition with Exxon Mobil for the exploration and production company Hess Corporation.
The US fund manager BlackRock has reduced its stake in the gold miner Polymetal to 4.01% from 7.44%.
Apple has been pressured into allowing app developers to distribute their applications from their own websites. Previously, app developers had to use the Apple Store.
Reuters has revealed that Goldman Sachs intends to increase its private credit portfolio to 300 million during the next five years.
Chinese tech giant Xiaomi has announced that it is starting to deliver to clients its first electric vehicle model. The stock price of the company surged on the announcement.
The price for Bitcoin has reached above the major 70,000.00 mark, as the ongoing buying frenzy continues.
This week, the United States House of Representatives is voting on legislation that is set to either ban TikTok or force ByteDance to divest from the app.
Bloomberg has reported that Chinese firms SMIC and Huawei have used United States technology to make their advanced chips. The required machinery had been provided by two US firms prior to the implementation of the legal export ban of such tech.
The tech company Broadcom has revealed that it expects to earn $10 billion from AI chips in 2024. However, the company's stock declined, as the markets expected even larger revenue forecasts.
Yonhap news have reported that South Korean regulators have been considering sanctioning Meta for failing to protects users of the firm's online marketplaces.
Data for January has revealed that Japanese household spending has experienced the biggest decline since February 2021.
Despite ongoing price cuts by domestic and foreign electric vehicle producers, recent China Passenger Car Association data has shown that the growth of electric vehicle sales has slowed down at the start of 2024, compared to 2023.
The job social media firm LinkedIn has revealed that it has gained a revenue of $1.7 from its premium subscribers during 2023.
As global demand for Chinese goods has increased, the Chinese exports have increased more than expected during the period of January and February.