Chinese EV producer Xpeng has partnered up with Volkswagen to establish project houses for engineers that should increase new EV architecture development speed.
The Financial Stability Board of the G20 organization has revealed that the lack of reforms in the non-bank and money market fund sectors has left the global financial system at risk to more shock events.
Chief Executive Officer of Dolce&Gabanna has announced that the firm is ready to offer the firm's capital to new investors either through a stock listing or other ways.
The US Commerce Department has revealed that, despite a decline of semiconductor and various other restricted goods exports to Russia from China and Hong Kong, the two locations continue to remain transhipment hubs.
The Finance Ministry of China has announced that it is extending tariff exemptions for US products until February of 2025.
Reuters has reported that NVidia is preparing a new AI chip for the Chinese market that would comply with US export controls.
During the pre-market trading of Monday, US stock index futures surged, as the announcement by US President Biden was seen as positive for the markets. Namely, the US President has called off his candidature for the US Presidential election.
During Monday's trading, the stock price indices in Asia declined, despite an unexpected Chinese central bank rate cut.
The government of Thailand is set to introduce a new financial business law that is aimed at attracting new investment to the country.
The electronics maker Electrolux has managed to increase quarterly forecasts above market expectations. The surge in profits has occurred due to higher demand in the United States.
On Friday, stock prices around the globe declined, as an IT outage caused uncertainty. Moreover, central banks appeared to have decided to keep interest rates unchanged, instead of the expected cuts.
The Japanese core price index has revealed that price in June had increased by 2.6%, compared to June 2023. The data indicates that the Bank of Japan could hike interest rates.
The head of the International Monetary Fund Pierre-Olivier Gourinchas has told Reuters that recent data indicates that the US Federal Reserve does not have to rush to decrease interest rates.
Brokerage Charles Schwab has revealed that the firms has experienced a 2% decline in quarterly profits, in the second quarter of 2024.
The US nicotine product producer Philip Morris has announced plans to invest $600 million to expand production in Colorado. A new factory is set to produce Zyn nicotine pouches.
In June, United States import prices have remained at prior levels, as lower energy import costs have offset a surge in food prices.
The tech giant Google is aiming at buying the cloud security firm Wiz in an effort to increase its cloud services line. The acquisition could help the firm take on its rivals Microsoft and Amazon.
Due to a recovery of investment banking activity, in the previous quarter Morgan Stanley has managed to increase the bank's profits. Earnings per share were at $1.82, compared to $1.24 the previous year.
The UnitedHealth group has announced that it expects larger hit to its 2024 profits due to the costs that were incurred by a hack of the firm's records.
The CEO of Leonardo, Italian space group, Roberto Cingolani has stated that the firm is working with Thales and Airbus on new strategic vision for the space sector.
Due to weak demand in China, the sales of luxury brand Cartier have been mostly flat in June. These news caused a decline of Richemont stock price. Richemont is the owner of the Cartier brand.
The Spanish train producer Talgo has announced that it has received a merger offer from its rival Skoda. The merger offer comes after a public tender offer was set up by Ganz-Mavag for the firm's shares.
Computer equipment supplier ASML is set to report a major increase of orders from chip producers due to the ongoing AI boom.
The head of the US Federal Reserve Jerome Powell has stated that the recent macroeconomic data provides additional confidence that inflation could return to 2.00%.