The US 30-year fixed mortgage rate has reached a level not seen since September 2022, as lenders can fix the rate at 6.08%.
Last week, the Wall Street Journal reported that the US Justice Department has started an investigation of Super Micro Computer. The government is looking into accusations that the firm has been conducting accounting manipulation. These news have fuelled a major decline of the firm's stock price.
Data published by Dealogic indicates that Merger and Acquisition numbers are declining. The decline of activity has been attributed to the upcoming US Presidential Election.
Russian officials have announced an expansion of agriculture export capacity in the Baltic Sea ports. The country intends to increase agriculture exports by 50% by 2030.
Reuters has revealed that seven of its sources indicate that the European Central Bank monetary policy committee is set to argue whether further rate cuts are necessary, as the already done cuts might not have yet had an effect.
The President of the Atlanta Federal Reserve has recently stated that the US economy is approaching normal inflation and unemployment rates, which signals that the US central bank can cut rates.
The Chief Executive Officer of Volkswagen Oliver Blume has revealed that the firm expects the labour unions to come up with proposals for cost-cutting.
The President of the Minneapolis Federal Reserve Neel Kashkari has recently stated that the US 0.50% interest rate cut was a correct response to progress in the battle against inflation.
Elon Musk has announced that SpaceX intends to send five uncrewed spaceships to Mars during the next two years.
The China Automobile Dealers Association has revealed that it expects to incur a 138 billion Yuan or $19.55 billion loss due to being forced to sell cars at discount.
Goldman Sachs has announced that, as interest rates have been declining, hedge funds have bought up tech firm stocks.
Bloomberg has revealed that the US airline Southwest Airlines has issued a warning to its employees that the company faces tough decisions.
As Johnson & Johnson has proposed a $10 billion settlement in the talc cancer lawsuit, the firm's talc subsidiary has filed for bankruptcy for another time.
The results of a Reuters poll of economists have revealed that markets expect the US Federal Reserve to cut interest rates by 0.25% in November and December.
The tech firm Nokia has revealed that a German court has ruled in its favour in the patent case against Amazon.
General Motors has announced the laying off of 1,700 employees at the firm's Kansas factory. The firing is set to start on November 18.
The US Commerce Department has proposed the ban of Chinese autonomous driving software and hardware from US roads due to national security concerns.
FINMA has ordered an audit of the last months of Credit Suisse, as the regulator wants to find out how the now defunct bank was managed prior to its demise.
Various tech giants have merged forces to lobby and persuade the European Union to reduce regulation of new Artificial Intelligence technology.
The aeroplane producer Airbus has announced that it would deliver the new longest-range narrow body jet in October. Previously, the firm was expected to deliver the A321XLR in late summer.
The new Chief Executive Officer of Nike Elliott Hill has increased the firm's efforts to restore relation with retailers. Namely, the firm is reversing the prior strategy of using firm stores and websites.
The US carmaker General Motors has issued a recall of 450,00 pick-ups and SUVs due to a warning light issue.
The US Dollar is declining and with it, boosting asset prices, as Personal Consumption Expenditure Index has revealed that consumer inflation in the USA is below forecast. This in turn signals that the Federal Reserve can continue to ease its monetary policy.
The payment card firm MasterCard has announced that it expects US holiday sales to increase by 3.00%, compared to the holiday season of 2023.