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.
The UK pharmaceutical company has announced that it would withdraw its application for an approval of its coronavirus vaccine in the United States.
The carmaker Mazda has revealed that despite current strong demand for vehicles in the United States the company expects a downturn, starting from spring of 2023.
The Swedish security firm beat its third quarter results. However, the company revealed that the future of global demand for security solutions is uncertain.
Tesla has announced another car recall, as nearly 40,000 vehicles are at risk of loosing power steering during driving on rougher roads or hitting a pothole.
Geely and Renault have announced that the companies would work together on new gasoline and hybrid vehicle engines.
The EU President Ursula von der Leyen has stated to the COP27 climate summit that countries should increase their actions in regards to climate change.
Bank sector supervisors of the European Central Bank have revealed that an ongoing evaluation of Eurozone banks has been looking for potential systemic vulnerabilities