Due to a decline in demand for beer, US barley farmers have turned to wheat and feed grade barley. The farming sector is expected to suffer a decline in income, as the new crops are priced lower than the previously grown.
Reuters has reported that Samsung Electronics intends to start a cost-cutting program that would include the firing of up to 30% of its workforce.
The football club Manchester United has reported a fifth year of financial losses, as net losses have increased to 113 million GBP.
The Chief Executive Officer of the Bank of America Brian Moynihan has recently commented that Warren Buffett has been a great investor of the bank, but the CEO has not asked Buffet why he has made recent sales of the firm's stock.
The United Kingdom's Office for National Statistics has published the country's monthly Consumer Price Index data. Annual inflation in the UK remains at 2.2%, which indicates that the Bank of England has to keep monetary policy tight. This fact caused an appreciation of the GBP.
The government of the Netherlands has clarified that ASML has to acquire a licence to provide spare parts for equipment that has been sold to China.
The Italian UniCredit has revealed that it has purchased a 9% stake of Commerzbank from the German government. The news signal that the two banking groups could merge into one entity.
Bank of Japan policymaker Junko Nakagawa has recently commented that the central bank would continue to hike rates if inflation is as forecast.
The Chinese-Swedish electric vehicle maker Lynk & Co is not going to raise prices in Europe due to EU tariffs on EV's, as stated by the European CEO of the company Nicolas Appelgren.
The publication of the monthly US Retail Sales data has caused a market move. In general, Retail Sales have slightly increased not declined, which indicates that the US Fed can keep policy tighter for longer. The data release has caused a slight surge of the value of the US Dollar.
Thailand based electric vehicle makers have asked the government to renegotiate incentives, as the firms are experiencing a sales decline.
Data for August has revealed that the number of insolvencies in Germany has continued to increase, as the number has increased by 10.7%, compared to August 2023.
The US Census Bureau has finished compiling 2023 data. Main takeaways are that income has risen by 4.00%, but the increase of income has not caused a decline of poverty.
The firm known as Campbell Soup has changed its name to The Campbell's Company, as the firm shifts to other packaged foods.
Nike has reported that its stockholders have voted against the firm joining binding agreements to address human rights issues of workers in high-risk countries.
The major bank Morgan Stanley has revealed that it expects more IPOs, mergers and acquisitions to occur throughout 2024 and 2025, as central bankers cut interest rates.
The results of a poll done by Reuters have revealed that surveyed analysts expect the US Federal Reserve to cut interest rates by 0.25% at each of the meetings that are scheduled for the rest of the 2024.
The oil production cartel OPEC has recently issued another update to the global oil demand forecast. In general, the organization has reduced the demand numbers for 2024 and 2025.
The Governor of the Bank of Canada Tiff Macklem has recently stated that potential trade disruptions across the world might cause a return of inflation high.
Apple Inc. has lost a major, long-running lawsuit against the European Union and has to pay $14.4 billion in taxes to Ireland. Apple had made a deal with the Irish government and used it to pay less tax in the EU on its profits. In 2016, the European Commission accused the Irish government of making an illegal deal and sued.
Reuters has published a compilation of Wall Street analyst opinions, which indicates that most experts are worried about the potential harm to be done by the new Kamala Harris tax plan on US corporate profits.
The Chinese Commerce Ministry has issued a statement in regard to the upcoming US import tariff hikes. The government has commented that it will take necessary measures to resolutely defend the interests of Chinese companies.
The US small business confidence index for August has revealed that US small business owners have reversed their prior return of optimism and are back to a broad pessimistic outlook.
Reuters has spotted a brokerage report that indicates that the Chinese electric vehicle maker BYD has revised its 2024 sales target upwards by 11.0%, as the firm intends to sell 4 million cars.