Despite ongoing price cuts by domestic and foreign electric vehicle producers, recent China Passenger Car Association data has shown that the growth of electric vehicle sales has slowed down at the start of 2024, compared to 2023.
The job social media firm LinkedIn has revealed that it has gained a revenue of $1.7 from its premium subscribers during 2023.
As global demand for Chinese goods has increased, the Chinese exports have increased more than expected during the period of January and February.
Due to a new 1.2% tax on streaming companies in France, Spotify has increased prices in the country. The government officially intended to use the tax to help music creators. However, the consumer is set to pay for the subsidy not the streaming firm.
Novo Nordisk has announced that its new experimental weight loss drug has shown to be more effective than expected. The news caused a 10.00% surge of the company's stock price.
The US Bureau of Labor Statistics has just published the monthly US employment data sets. Data reveals a mixed month, as the statistics have shown good and bad aspects in the US labour market.
As the US monetary policy makers have made comments that rate cuts are unlikely, the price for crude oil has declined. Oil prices react to lower and higher rates, as lower rates mean more economic activity that always causes demand for oil.
The Governor of the Federal Reserve Michelle Bowman has stated this week that the US economy is not yet ready for rate cuts and the Fed would hike rates, if would be needed.
The weight loss drug maker Novo Nordisk has passed Tesla in market capitalization and become the 12th most valuable company in the world. The event has taken place due to a surge of Novo and a decline of Tesla.
The European central bank has announced that it has made good progress in battling inflation, as Euro Zone inflation has reached down to 2.6% in January and is expected to be at 2.4% in February.
Due to weakening electric vehicle demand, Morgan Stanley has announced a price target cut for the stock of Tesla. The news caused an extension of the ongoing share price decline.
The Abu Dhabi Etihad Airways have reported profits in 2022 and 2023. Moreover, the company's CEO has announced that the company could do an initial public offering by improving its governance and transparency of the balance sheet.
The financial markets have been observed to be preparing for a return of Donald Trump to the US Presidency. Namely, investors have adjusted to Trump's planned policies that affect the Chinese market, defence stocks and emerging market currencies.
US retailer Target has announced that it expects a sales recovery in 2024. Meanwhile, the company has revealed a new paid membership. The news caused a 12.00% jump of the company's stock price.
The government of the Netherlands has started talks with the country's largest company and semiconductor equipment producer ASML to gain assurance that the firm would remain in the country.
The Asset Management Association of China has reported that local investors have bought up assets abroad and hit the limit for outbound assets. The investors have turned to other markets, as the Chinese market has struggled due to low confidence, real estate sector issues and government involvement.
The ECB Main Refinancing Rate has just been released. As expected, the central bank has kept the rate at 4.50%. In addition, the central bank published its Monetary Policy Statement. The event caused a minor 0.20% dip of the EUR/USD.
The Chairman of the National Development and Reform Commission Zheng Shanjie has reaffirmed that the Chinese government's 5.00% GDP growth target for 2024 would be achieved.
Reuters has reported that the Starbucks franchisee of Middle East AlShaya is set to fire 2,000 employees due to consumer boycotts.
Since the Australian government implemented EV subsidies in 2022, the market has reportedly been taken by BYD and other Chinese electric vehicle makers.
The banking group Morgan Stanley has set out to fire 9% of its asset managers in China, as the country's stock market has been declining.
Despite already harming the demand for Tesla vehicles, the Chinese EV maker BYD has increased its bet on a price war. The company has announced additional 5.00% price cuts for its low budget car series.
In February, Ford sales in the SUV segment increased by 10.5%, as demand for hybrids has been observed to be growing.
A group of Country Garden lenders has hired advisors from Deloitte and Allen & Overy to assist in a possible loan restructuring.