Xiaomi Corp.'s quarterly sales growth slowed remarkably on component shortages and growing competition in China. The company's revenue rose only 8% to $12.2 billion. Net income plummeted 84% to $123 million.
The euro dropped 0.3% on Wednesday to its lowest level since July 2020 at $1.1205 after a survey demonstrated a fall in German business morale. The Ifo institute said its business climate index deteriorated to 97.7 following supply bottlenecks and a spike in coronavirus infections.
According to the report published on Tuesday by Germany's E.ON SE, the group plans to invest in next five years nearly $30M in its core business, such as networks and retail power.
The British giant Barclays on Tuesday reviewed and raised its forecast for oil prices growth next year due to the unexpectedly rapid inventory drawdown and discreet supply response.
On Tuesday, the Italian antitrust body has accused Apple and Amazon.com of collusion and anti-competitive behavior in the sale of a number of products and imposed a fine of $151M and $77M, accordingly.
According to a source from the White House, the administration is planning to unveil oil from an emergency stockpile in an attempt to slow the rise of energy prices after the OPEC+ requests to match the growing demand.
The S&P 500 and the Nasdaq gained on Monday after President Joe Biden nominated Jerome Powell for a second term leading the central bank. The S&P 500 opened higher by 14.04 points, or 0.30%, at 4,712.00, while the Nasdaq gained 63.49 points, or 0.40%, to 16,120.92.
Around 3'000 workers from various Bosch plants protested in Germany against plant closures and job cuts. The automotive supplier plans to cut around 700 full-time jobs by 2025 to adapt to changing demand in the transition to electric vehicles.
In September, US airlines carried 58.4 million passengers, as the aviation industry continued to recover. Last year, in September 2020, the industry carried only 25.1 million passengers
The ECB Board Member Isabel Schnabel stated this week that the European Central Bank should be ready to control inflation, if it remains longer than forecast.
This week, BHP revealed that the global demand for nickel and copper would multiply during the next 30 years.
On Wednesday, Volkswagen announced that the company would double its charging and energy staff, release new payment tech and make alliances in an effort to compete with Tesla.
This week, the US President Joe Biden's administration revealed that it would help US auto industry in retooling for electric vehicle production.
In October, US single home construction decreased by 3.9%, as total housing construction declined 0.7%.
On Wednesday, data published by Canadian statisticians revealed that the Canadian annual inflation had reached a 18-year high level.
This week, the US Treasury announced that inflation, cyber-attacks and monetary tightening could cause systemic risk to the US financial system.
This week, the US President Joe Biden was expected to announce his choice for the position of the Chairman of the US Federal Reserve.
Data released on Wednesday revealed that the UK CPI had hit 4.2% instead of forecast 3.9%. Namely, inflation in the UK had reached a ten-year-high level.
On Wednesday, Reuters revealed that US rating agencies had stated to the news agency that the new Biden's spending plan would not impact inflation.
Chinese government research revealed on Wednesday that Chinese industry could hit peak coal consumption by 2024.
On Wednesday, the US Dollar index surged, as better than forecast retail sales data strengthened its value.
During Wednesday's trading hours, the price for Bitcoin continued to fluctuate below the 60,000.00 mark.
This week a group of US states filed an updated complaint about Google. The states accuse google of breaking antitrust laws.
The Secretary General of OPEC Mohammad Barkindo stated on Monday that the recent COP26 summit had set gas and oil as having no future.