The stock price of LVHM has plummeted more than 6.00% at the start of Wednesday's European trading. The French luxury group's stock trades at a low level not observed since December. The drop was caused by low sales volumes in the third quarter of 2023.
The Global Energy Monitor think tank has published research that indicates that the global coal industry might get rid of more than 1 million jobs by 2050. The job losses are expected to occur, if the world shifts to other energy sources.
The International Monetary Fund has stated that around 5.00% of banks are set to struggle in a potential economic decline that would be caused by high interest rates.
The Financial Times has reported that the European Union has started an investigation into Chinese steelmaker subsidies. The subsidies could be aimed at undermining European steel producers.
The central bank of Israel has boosted the value of the Shekel via the sale of foreign currency reserves. The sales are expected to amount to up to $30 billion.
IG Metall workers union has revealed that it has been joined by the Tesla Brandenburg employees. The workers have joined the union due to safety, overwork and health concerns.
The invention of new weight loss drugs has caused major demand for self-injection syringes with the new anti-obesity medication. Companies have reported to be investing billions in the expansion of production.
Reuters has published an article that lays out how the CEO of Tesla and owner of Twitter could lose his latest legal battle against the United States Securities and Exchange Commission.
The Saudi news agency has announced that United Arab Emirates, Saudi Arabia, Oman, Kuwait, Iraq and Bahrain are set to stick to oil production adjustments.
Reuters has published a report on US gasoline prices, which indicates that, due to rising stock prices and crude oil price decline, gas prices in the United States could decline to as low as $3 per gallon.
The US government has revealed that it is near the completion of new chip making tool export restrictions that are set to limit sales to China.
The events that unfolded during the weekend in Israel and Gaza have caused a major impact on the financial markets, as soon as trading had resumed. The Israeli currency hit an 8-year low. Oil prices surged. The price for gold and other safe haven assets started to rise.
Scope Ratings has announced that the high Italian sovereign budget deficit might make the country ineligible for the ECB bond support scheme. The lack of support for bonds could cause a decrease of the country's credit rating.
The electric vehicle maker Tesla has announced a price cut in the United States for the Model 3 and Model Y cars by nearly 2.7 and 4.2%.
It has been observed by market participants that the price for orange juice has continued to reach new all-time high level each week for more than a month.
Bloomberg News has reported that Apple might switch Apple Safari browser's search engine from Google to DuckDuckGo.
US shoppers have experiences record prices for chicken, as producers have reduced production and shoppers increase demand due to a switch from beef and pork. Market analysts expect Tyson Foods to benefit the most from the price increases.
The United States Bureau of Labor Statistics has just published the monthly employment data. The markets were waiting for the release for most part of the week. In general, the event has caused a spike up of the US Dollar.
Reuters has published to the world how Citigroup managers intend to review its staff and decide upon reassignment or firing. In general, the banking group has started its largest reorganization in decades.
US healthcare worker unions and Kaiser Permanente have failed to make an agreement on contracts. The failure to negotiate has started a 75,000 medical worker strike, which is the largest in US history.
The US Energy Information Administration has reported that finished motor gasoline demand had decreased to 8 million barrels per day, which is the lowest level since the start of the year. Moreover, JP Morgan has reported that seasonally adjusted US gas consumption has hit a 22 year low. The news have caused an oil price decline.
Reuters has reported that Meta has started to lay off employees in the Reality Labs division, which is developing the Metaverse.
The latest release of HCOB Composite Purchasing Managers Index for the Euro Zone has revealed that demand in the economic block had declined in September at a pace not observed since 2020.
The chip producer Intel has announced that the company intends to set up a standalone business for its programmable chip division starting from January. The news caused a 2% surge of the company's price.