Reuters has revealed that Tesla has announced new price cuts for Model 3 and Model Y in Hong Kong. The company continues an ongoing price war in the electric vehicle market.
Biogen Incorporated has announced that it would fire nearly 1,000 employees or 11% of the company's workforce, as the company has started a new cost reduction program.
General Electric Company has increased its 2023 full-year profit forecast due to a boom in aviation. The company has reported resilient demand for jet engine parts and airlines services.
Dow Chemical has published a 70% decline in quarterly profits. The company has attributed the decline to lower product prices and weak sales volume. Moreover, the company expects the macroeconomic environment to continue to be challenging.
Mexican authorities have been urging US appeals court to revive a $10 billion lawsuit against US gun manufacturers, which allegedly have facilitated gun trafficking to drug cartels.
General motors has announced that due to declining profits in the second quarter of the year the company would continue its cost cutting campaign.
The Indonesian government is creating a new package of incentives for electric vehicle makers to invest in the country. Moreover, the government has revealed that it is in talks with BYD and Tesla.
Vietnam has revealed plans to increase its raw rare earths production to 2.02 million tonnes per year by 2030.
The Canadian government has created legal framework for the elimination of inefficient fossil fuel subsidies. Canada is set to become the first G20 country to rationalise and phase out fossil fuel sector subsidies.
Taiwan Semiconductors Manufacturing Company has announced plans to invest $2.87 billion in a new advanced facility in the northern part of Taiwan.
The French government had agreed with a 75 food company group for a limit of price increases of 10.00%. However, Nestle and Danone have not complied with the deal by increasing prices for some products up by 36.6%. The companies are expected to be under government scrutiny.
More than 1,500 app developers have sued Apple in the UK over app store fees. The class action lawsuit amounts to a total of $1 billion.
The ECB has just increased its base interest rate from 4.00% up to 4.25%. In addition, the central bank has released its Monetary Policy Statement, which explains the reasoning behind the policy decision.
The owner of Facebook released its quarterly financial results after Wednesday's market close. Good results have caused a surge of the stock price in Thursday's pre-market trading of $25.00 or 8.50%.
The stocks of various Chinese real estate property firms have surged during this week due to the Chinese government pledging domestic economic stimulus.
Larger demand for low-rise rubber-soled terrace sneakers is causing expectations that Puma and Adidas are set to have an advantage in sales, compared to Nike.
Reuters has reported that Chinese major state owned banks have been selling off US dollar and buying Chinese Yuan in an effort to boost the Chinese currency's value.
The US Federal Reserve Federal Open Market Committee has just increased the Federal Funds Rate from 5.25% up to 5.50%. The increase was expected. In addition, the Fed has released the FOMC Statement, in which the rate decision's base is explained.
The French company Thales Group has announced the acquisition of US cybersecurity company Imperva for a total of $3.6 billion.
The stock price of Alphabet has started the day's New York trading with a gap up of 6.43% or $7.86. The surge of the company's value was caused by the company reporting better than expected second-quarter profit.
The Chinese government has revealed a new stimulus program that would be aimed at increasing local demand, consumer confidence and the prevention of economic risks.
The renaming of Twitter into X is set to face trademark issues, as nearly 900 firms have active trademarks that use the letter X.
The aero-engineering company Rolls-Royce has beat its first-half-year earnings and has increased 2023 profit forecast by 45%. The announcement caused a 24.00% surge of the company's stock price. In addition, the stock has reached highest levels since March 2020.
The RIA news agency has revealed that Russia and various African nations are set to meet at a summit to discuss Russian gran and fertilizer shipments.