The electronics maker Electrolux has managed to increase quarterly forecasts above market expectations. The surge in profits has occurred due to higher demand in the United States.
On Friday, stock prices around the globe declined, as an IT outage caused uncertainty. Moreover, central banks appeared to have decided to keep interest rates unchanged, instead of the expected cuts.
The Japanese core price index has revealed that price in June had increased by 2.6%, compared to June 2023. The data indicates that the Bank of Japan could hike interest rates.
The head of the International Monetary Fund Pierre-Olivier Gourinchas has told Reuters that recent data indicates that the US Federal Reserve does not have to rush to decrease interest rates.
Brokerage Charles Schwab has revealed that the firms has experienced a 2% decline in quarterly profits, in the second quarter of 2024.
The US nicotine product producer Philip Morris has announced plans to invest $600 million to expand production in Colorado. A new factory is set to produce Zyn nicotine pouches.
In June, United States import prices have remained at prior levels, as lower energy import costs have offset a surge in food prices.
The tech giant Google is aiming at buying the cloud security firm Wiz in an effort to increase its cloud services line. The acquisition could help the firm take on its rivals Microsoft and Amazon.
Due to a recovery of investment banking activity, in the previous quarter Morgan Stanley has managed to increase the bank's profits. Earnings per share were at $1.82, compared to $1.24 the previous year.
The UnitedHealth group has announced that it expects larger hit to its 2024 profits due to the costs that were incurred by a hack of the firm's records.
The CEO of Leonardo, Italian space group, Roberto Cingolani has stated that the firm is working with Thales and Airbus on new strategic vision for the space sector.
Due to weak demand in China, the sales of luxury brand Cartier have been mostly flat in June. These news caused a decline of Richemont stock price. Richemont is the owner of the Cartier brand.
The Spanish train producer Talgo has announced that it has received a merger offer from its rival Skoda. The merger offer comes after a public tender offer was set up by Ganz-Mavag for the firm's shares.
Computer equipment supplier ASML is set to report a major increase of orders from chip producers due to the ongoing AI boom.
The head of the US Federal Reserve Jerome Powell has stated that the recent macroeconomic data provides additional confidence that inflation could return to 2.00%.
Bank of America has reported that investors around the world have remained bullish in July, as expectations of US interest rate cuts have fuelled the stock surge.
At 12:30 GMT, Census Bureau, revealed its monthly retail sales data. The USD reacted by surging.
After a two year decline in new loans, the European Central Bank has reported that new loan numbers have started to grow, as consumers seek funding.
The Chairman of the Federal Reserve Jerome Powell has stated that he is set to remain at his post until the end of his term, despite a potential Trump victory in the US elections.
Asset management firm BlackRock has reached a total asset valuation of $10.6 trillion. Most gains are attributed to clients buying the firm's ETFs.
The US steel maker Cleveland-Cliffs has announced the buyout of Canadian competitor Stelco Holdings in a deal worth $2.5 billion.
Competition regulators of France have revealed that they are investigating NVidia over anti-competitive practices.
In the second quarter of 2024, the global smartphone market has increased by 6.5%. The increase has been led by Samsung and Apple.
The European aerospace firms Airbus and Thales are considering a tie-up in space activates in an effort to compete with new market participants.