Crude oil prices plummeted almost 5.00% at the start of Monday's US trading due to a Wall Street Journal publication. The WSJ revealed that OPEC+ are in the process of discussing a 500,000 barrel per day crude oil production increase. A potential increase would be approved at the OPEC+ meeting on December 4.
Disney has announced that it would bring back Bob Iger as CEO a year after his retirement. The news caused an 8.21% jump of the company's share price.
The President of France Emmanuel Macron has invited various European Chief Executives to a dinner. The President intends to convince the CEOs not to shift production to the US due to lower energy prices and the incoming Inflation Reduction Act.
The US bank JPMorgan Chase has revealed that it expects a mild recession in 2023, which would be caused by the US Federal Reserve monetary tightening.
Reuters has revealed that the Chinese government would implement new measures to speed up vaccinations against the Coronavirus.
The Norwegian National Statistics Office has revealed that various oil and gas firms had increased their 2022 and 2023 investment forecasts.
Lidl has revealed that the company's profits had been rising in the United Kingdom, as consumers switch to the discount supermarkets.
The UK luxury brand chain Burberry has announced that due to tourists and Chinese shopper the company has outperformed its quarterly income forecasts.
The Governor of the Bank of Italy Ignazio Visco has stated that the European Central Bank would continue to raise interest rates. However, in his opinion the arguments for less monetary tightening have been strengthening.
The European Central Bank has revealed that it has observed financial stability risk in the use of financial derivatives by energy firms.
The Chief Executive Officer of the largest Spanish gas and oil company Repsol Josu Jon Imaz has stated that Europe had failed in its transition from Russian energy due to affordability.
During the G20 summit, the world leaders have agreed to implement data dependant central bank interest rates and set temporary targets for fiscal spending.
Toyota Motor Corporation has announced that it would revive the hybrid Prius with a new two liter plug in version.
On Wednesday, crude oil prices declined. Market commentators attributed the decline to an expected decline in demand in China due to rising coronavirus cases.
In October, inflation in the United Kingdom has reached a 41-year high level, as annual inflation has reached 11.1%.
The Bank of Canada Governor Tiff Macklem has stated that the lower income Canadian are bound to be hurt the most by the ongoing economic decline.
In effort to oust Gazprom from the German market, the government of Germany has announced the nationalisation of the gas import firm Sefe.
The US food producer Tyson Foods has announced that the company would increase its 2023 earnings forecasts due.
US stock indices started the week's trading with a decline, as comments made by US monetary policymakers were indicated as the catalyst of the equity price move.
Ralph Lauren has announced that the company has beat its quarterly earnings expectations, as wealthy consumers have not been affected by inflation.
Despite high inflation, in October, US consumers continued to spend, as early Christmas shopping was attributed to a rise in expenditure.
The ECB supervisor Andrea Enria has stated that major banks should use their recent good profits to buyback their shares.
The cryptocurrency exchange FTX continues to look for additional funds, as Binance has announced that it would not bail out the company. The string of news associated with FTX has caused a major cryptocurrency sell off.
In October, Chinese exports have reportedly declined, as the Chinese economy is being impacted by the zero Covid policy.