Pilots of Southwest Airlines have managed to negotiate a $12 billion five-year contract. However, details of the deal are kept confidential.
The recent decline of crude oil prices has been caused by the US Energy Information Administration revealing that the US has increased its inventories by 2.9 million barrels. These news offset prior concern over disruption caused by the Houthis in the Red Sea.
Reuters has revealed that the airplane producer Airbus is set to book a record year of jet orders in 2023, as companies have ordered almost 200 aircraft.
Due to Chinese retailers shifting toward low price goods and services, the deflation experienced by the country could become permanent.
General Motors, Volkswagen and Toyota and two air bag producers have announced that they were opposing US auto safety regulator call to recall 52 million air bag inflators. The regulators have argued that the airbag inflators could rupture and send shrapnel flying.
The People's Bank of China has kept the Yuan loan one-year rate at 3.45% and the five-year rate at 4.20%.
Stock indices of various country markets have managed to reach two-year high levels, as a lot lower than expected UK inflation caused a British stock surge that lead the rally, on Wednesday.
An independent panel has revealed that 64 models of Daihatsu have safety issues, which has prompted a scandal that has been followed by an investigation and the company halting the shipping of vehicles.
Bloomberg news has revealed that Tesla would skip this year's employee merit-based stock compensations.
After trading 74 years on the Tokyo stock exchange, the shares of Toshiba have been delisted. A decade of turmoil and scandals have resulted in a decline of the brand and a buyout.
The global shipping company has reported lower than expected quarterly profits and reduced its annual income expectations. As a result of the news, the company's stock price was set to start Wednesday's trading with a gap down of nearly 10.00%.
The Bank of America has researched that the top demanded bonds during 2023 have been European government bonds, which has reached a market value of $10 trillion. The Euro bonds are expected to return 6.5% to their holders.
On Wednesday, the United Kingdom Office for National Statistics released the country's Consumer Price Index data. The event caused a major drop of the Pound against peer currencies.
The Japanese central bank has announced that it would continue with its ultra-loose monetary policy despite a widely discussed expectations of an end to the stimulus. Governor of the BoJ Ueda stated that the policymakers were waiting for more evidence of wage and price increases that would justify a change of policy.
The Japanese company Nippon Steel has reaffirmed that it considers the purchase of US Steel at $55.00 per share as reasonable. The offer is still at a 10% premium, compared to most recent prices.
Crude oil prices have recently declined due to the United States creating a task force that would guard commerce in the Red Sea from attacks by Yemeni militants.
IBM has announced that it would acquire enterprise integration platforms from Software AG for a total of $2.33 billion. The company intends to boost its AI and cloud products.
The United States airline Southwest Airlines is set to pay a $140 million fine for the cancellation of 16,900 flights during the 2022 holiday season that resulted in the stranding of 2 million passengers.
Goldman Sachs has decreased its 2024 Brent price forecast by $10 per barrel due to strong supply in the United States. The bank expects prices to remain in the $70/90$ range.
The Chinese Communist Party Finance and Economy Office has announced that the country's economy is set to improve in 2024.
Reuters has reported that Chinese banks have been selling off bad loans at an unseen pace, as regulators have been pressuring the sector to get rid of bad debt.
The head of New York Federal Reserve John Williams stated on Friday that the Fed would still monitor whether the current tightening has been enough instead of evaluating rate cuts.
The Japanese giant Nippon Steel has just announced that it would buy the United States Steel Corporation for a total of $14.9 billion. The US Steel shares reacted to the news with a jump of 28.00% that resulted in a price above $50.35 in the pre-market trading.
The Chinese government has approved a 2024 budget with a 3% deficit of GDP, which is set to be lower than the 3.8% of 2023. Reuters has reported that the government intends to issue special bonds to finance the fiscal budget.