The tech giant Intel has announced that it would create an independent company based on its AI software development projects. The new project would be backed by DigitalBridge Group asset managers and associate investors.
The publication of the US Federal Reserve Meeting Minutes has reminded the world that the Fed is debating a reduction of interest rates and a stop to the reduction of the central bank's balance sheet. The reminder caused a decline of the US Dollar's value.
The banking group UBS has revealed that it expects AI revenues to increase to $420 billion in 2027. The bank is upgrading its previous forecast of $300 billion.
The United States National Highway Traffic Safety Administration has announced that Ford would recall 112,965 F-150 trucks due to a rear axle issue.
Due to concern over demand for new devices in 2024, Barclays has downgraded the stock of Apple, which has caused a decline of the price to a seven week low level.
The Chinese electric vehicle maker BYD has announced that in 2023 its sales had increased by 62%. The company has sold more than three million vehicles.
McDonald's Malaysian unit has sued an anti-Israel boycott movement for making false and defamatory statements that have hurt the company's business.
GasBuddy.com has revealed that the US drivers expect gas prices do go down by 13 cents on average during 2024. The expectations have occurred due to higher US gasoline stocks and increased global refining volume.
The Chinese retailer JD.com has won an anti-monopoly lawsuit against its rival Alibaba. Alibaba has been fined 1 billion Yuan or $140.68 million.
Nippon Yusen, Mitsui O.S.K. and Hapag-Lloyd have announced that they would continue to reroute their shipping from the Suez Canal despite other firms returning to using the dangerous path.
The consumption of coffee has increased by 15% in China. Meanwhile, Brazil's exports to the country have for the first time reached over one million bags.
The United States chip maker NVidia has announced that it would launch a modified gaming chip that would comply with export controls and could be exported to China.
The price for Iron Ore has ended 2023 trading with gains of 55.00%, as Chinese government stimulus has caused demand for construction in the country and with it demand for metal.
The Chinese tech company Huawei Technologies has revealed that it expects its 2023 revenues to reach $98.5 billion, which compared to 2022 is an increase of 9.00%.
The price for Cocoa is set to end the year of 2023 with a gain of 72% and at 46 year high level. The surge of the commodity has been attributed to various supply disruptions.
Interest rates on US home loans have continued to decline, as levels not seen since May have been reached. The rate on 30-year-fixed mortgage has declined to 6.61%.
Various Asian region stock exchange indices have ended 2023 with gains. The surge of the assets has been caused by the expectations of US interest rate cuts. Namely, lower rates are set to cause lower income from bonds. Due to this reason, money managers are investing in riskier assets all over the world, including Asian stocks.
Crude oil price benchmarks are set to end the year with a decline of almost 10.00%. The annual decline has been attributed to declining global demand that has not been offset by OPEC production cuts.
The US Dollar index was set to end its two year winning streak by booking a loss for 2023. The decline of the US Dollar has occurred due to the expectations of US Federal Reserve Fed Funds Rate decrease.
The Chinese phone producer Xiaomi has announced that it would produce electric vehicles. The first model of the company would be a sedan called SU7.
The US jet producer Boeing has urged airlines to inspect the new 737 Max planes due to a potential loose bolt. The bolt is reportedly located in the rudder control system.
Reuters has revealed that Maersk shipping schedules show that most of the company's Asia-Europe route ships are set to sail via the Suez Canal.
The Vietnamese electric vehicle maker VinFast has debuted in the United States market by partnering with Leith Automotive Group in North Carolina. The producer has decided upon a hybrid distribution model by partnering with local dealers instead of the previously used direct approach.
Bank regulators of Singapore have fined Credit Suisse with a fine of 3.9 million SGD for a failure to detect and prevent relationship manager misconduct.