The European Union banks have lobbied EU law makers to have the EU banking sector designated as a strategic sector. Bankers have pitched that their competitiveness is set to impact the political block's future.
The Chinese city Zhengzhou has requested state owned companies to buy housing in the second-hand market to reduce oversupply of new real estate.
Analyst consensus forecast for the quarterly earnings of Taiwan Semiconductor Manufacturing Company is that the company will reveal a 5.00% surge in quarterly profits.
Reuters has reported that the US consumer goods producer Procter & Gamble could have experienced a decline in demand, as the firm has continued to rise prices and consumers have reduced their spending on the products.
The Biden administration is set to grant $6.4 billion to Samsung for the firm to expand its factories in Texas. United States have been recently subsidizing chip makers that produce in the country.
German airline Lufthansa has stated that it has made concessions to receive an approval from the EU authorities to acquire ITA Airways.
The United States National Highway Traffic Safety Administration has reported that is investigating reports of brake assist loss on more than 3,300 Cadillac Lyriq cars.
The publication Electrek has reported that Tesla is set to fire more than 10.00% of the company's workforce in an optimization reform. This would amount to a firing of more than 14,000 people.
The United States Internal Revenue Service has announced that it has surpassed its goals in assisting taxpayers and reducing phone waiting times. Previously, the agency has been scrutinized for being outdated in its processing of US tax collection.
Reuters has reported that Tesla has been scouting India for locations for its showroom locations, as the company intends to expand in India's market.
The People's Bank of China has kept its policy rate unchanged. However, despite unchanged rate the central bank appears to have tightened monetary supply by using bond instruments.
In the first quarter of 2024, the Chinese GDP growth is expected to have declined due to an ongoing real estate market downturn.
The recent and still ongoing surge of the US Dollar has been attributed to the markets changing their expectations for US monetary policy. As new data continues to confirm a return of inflation, US monetary policy is expected to return to tightening instead of easing.
Reuters has reported that Chinese and Russian firms have been marking new copper and other metals as scrap metal to avoid taxation and sanctions set on such exports.
At the start of the week, the financial markets were watching the Middle East, as a response from Israel to the weekend attack was expected to impact commodity prices.
The US Census Bureau has published the United States monthly retail sales data. In general, the data shows high demand at the retail level. The publication strengthened the US Dollar's value.
During Monday's Asian trading hours, stock indices of Asian stock markets declined, as the market expected to all profit be reduced by higher costs that would be created by increased oil prices as a result of an escalation of the conflict in Middle East.
On Monday, market analysts expected crude oil prices to surge at the start of US market trading, as middle east geopolitics are set to squeeze supply.
The Governor of the Bank of Japan Kazuo Ueda has stated that he BoJ has ruled out responding to a weak Japanese Yen by hiking interest rates.
A poll done by Reuters has revealed that it is likely that In April exports from China have increased, after a drop in March.
During the first quarter of 2024, BMW has increased its total car sales by 1.1%. Meanwhile, its competitor Mercedes Benz has experienced a 6.00% decline that was attributed to supply chain issues.
The sports apparel brand Nike has set out to reveal new kits for national Olympic teams. By doing so, the firm intends to increase demand for its products.
The ongoing boom in Chinese electric vehicle export boom has increased demand for ships that are capable of shipping cars.
Deutsche Telekom, Airbus, Orange and additional 15 EU companies have expressed their anger with a recent proposal to allow Google, Microsoft and Amazon access to sensitive EU cloud contracts.