The French vehicle part supplier Forvia has announced that due to Chinese competition it is set to fire 10,000 employees.
A survey done by ResumeBuilder has revealed that 44% of surveyed companies expect AI technology to cause layoffs in 2024.
The European Union has started an investigation of TikTok over potential breaches of online content rules that protect children and ensure transparent advertising.
The German Bundesbank has commented that Germany is most likely in a recession due to weak external demand, low consumer spending and high borrowing costs beating down investment.
The Chinese Electric Vehicle maker BYD has launched a new plug-in hybrid Qin Plus DM-i. Moreover, the company has reduced the price of the new model by 20%.
The United States government has announced that it would award GlobalFoundries with $1.5 billion for the firm to expand its US semiconductor production.
This week, Nintendo announced that it would delay the successor to its Switch console until 2025. The news caused a market reaction that was observable in the company's stock price.
The China Securities Regulatory Commission has held initial seminars with equity market participants. The seminars are aimed at finding ways to revive the Chinese market.
The Chinese electric vehicle maker BYD has revealed plans to launch high-end luxury car models during 2024.
Reuters has reported that Stellantis considers could produce up to 150,000 electric vehicles in Italy at the Mirafoni complex in Turin.
Recently, at the Singapore Airshow, the Commercial Aircraft Corporation of China has presented its new narrow-body passenger jet C919.
The banking group Goldman Sachs has increased its 2024 S&P 500 target price to 5,200.00. The bank has increased its target for the second time over the span of a couple of months.
The Australian Westpac Banking Corporation has revealed that its quarterly profits have declined, compared to the previous half-year period.
The New York Times has reported that the US administration intends to reduce tailpipe emission limits that are aimed at forcing US consumers to get electric vehicles.
The Financial Times has reported that Apple is set to receive a 500 million Euro fine from the European Union officials.
Spending on travel during the Lunar New Year holidays in China has beaten the 2019 level, as it has surged by 47.3% on a year on year basis.
The Chinese central bank, the Peoples Bank of China has kept its base interest rate at 2.50%, as it follows the example of the US Federal Reserve.
The New York Stock Exchange has set the electric vehicle start up Fisker a non-compliance notice, as the stock of the company has closed below $1.00 mark for more than 30 days. In general, the stock should be moved to basket of penny stocks.
The US retailer Amazon has joined Trader Joes and SpaceX in the claims that the US National Labor Relations Board violates the US Constitution. The agency has been fighting against Amazon's efforts against labor unions.
Bloomberg has reported that the United States government intends to subsidize Intel with more than $10 billion.
Due to gaps in trade reporting, JPMorgan is set to receive a $350 million fine. The company has responded that it has caused no harm to clients or the market.
The New York Times has reported that the AI firm OpenAI has finalized a stock deal that pushes the valuation of the company to $80 billion.
The Finance Minister of France Bruno Le Maire has admitted that the government expects French GDP to grow only 1% in 2024, compared to the previous expectations of 1.4%. The reduction has been caused by lower global trade.
The stocks of Novo Nordisk and Eli Lilly have been classified as growth stocks due to the invention, implementation and spread of new weight loss drugs.