United States auto safety regulators have started an investigation of the 280,000 Tesla vehicles that have reportedly experienced loss of steering and power steering.
The United States pharmacy company CVS Health is set to get rid of 5,000 jobs, as reported by the Wall Street Journal.
In the first quarter of 2023, Toyota Motor Corporation has managed to double its quarterly profit due to larger productivity and sales. In addition, the company's profits have increased due to the weak Japanese Yen, as costs are paid out in Yen, but most income is in foreign currency.
Financial Times has revealed to the world that Meta is preparing to create new AI chatbots in an attempt to retain users.
Reuters has reported that Chinese authorities have asked banks to decrease or delay buying of US Dollars to reduce pressure on the Yuan.
The Chief Executive Officer of Lamborghini Stephan Winkelmann has stated that the company could sell 10,000 cars during 2023.
Financial Times has reported that the Securities and Exchange Commission had requested Coinbase to stop all crypto trading, except Bitcoin. The exchange denied the request and the SEC sued it in June.
Crude oil prices have shown monthly gains not seen for more than a year, as in July prices were boosted by Saudi Arabian production cuts and increased global demand.
Amidst tensions with the United States Chinese government has implemented export controls on drones and drone related equipment to safeguard its national interests.
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.