In the aftermath of the tax document leak scandal, Pricewaterhouse Coopers Australia has announced that it would fire hundreds of employees, as major clients have cut ties with the firm.
Reuters has reported that Chinese buyers have made their largest one-day purchase of US soybeans. Chinese firms have been buying up food on the global market due to various production issues.
CNBC has reported that Citigroup has been considering cutting at least 10% of jobs in various major businesses of the group.
Large tech companies are set to face new political ad rules that would force companies to reveal which elections are targeted and who paid for the advertisement.
The International Monetary Fund has increased its GDP growth forecasts for China in 2023 and 2024. 2023 expectations have been increased from 5.00% up to 5.40%. 2024 forecast is increased to 4.6% from 4.2%.
Reuters has reported that Intel has shelved its plans to expand its operations in Vietnam. The previously intended expansion would had doubled the company's operations in the country.
Italian courts have ordered the seizure of nearly 780 million EUR of Airbnb Irish headquarters funds for alleged tax evasion.
The European Central Bank has announced that the euro zone is unlikely going to experience a consumption boon, as most savings have been accumulated by the rich households.
The Toyota Motor Corporation has announced the recall of 1.85 million RAV4 SUVs due to potential fire risks that have occurred due to the installation of new batteries.
The US airline Delta Air Lines has started to fire its corporate level employees in an effort to cut costs.
Reuters has reported that their sources indicate that the Bank of Japan would exit its ultra-easy monetary policy during 2024.
Shell has reported a decline of quarterly profits of 34%, compared to third quarter of 2022. The total profit of the company is $6.2 billion. In addition, the company has revealed share buybacks that would amount to $3.5 billion over the next three months.
The business focused social platform LinkedIn has announced that it has more than 1 billion members. Moreover, the company revealed that it would add some AI features for premium users.
The stock price of PayPal is set to start the day's trading with a gap up of 6.88% or $3.55. The move has been caused by the quarterly earnings release.
Reuters has reported that WeWork could file for bankruptcy highly likely next week, as the company continues to struggle with debt and losses.
As the markets expected, the Bank of England has kept the Official Bank Rate at 5.25%. The GBP/USD initially reacted with a 21 point or 0.17% surge and reaching above the 1.2200 mark.
The United States Treasury Department has announced that it would need an additional quarter of debt auction size increases to meet the US financing needs.
The European Union data regulators have revealed that they could ban targeted advertising on Instagram and Facebook. Noncompliance with the ban could cost Meta up to 4.00% of the global turnover.
The CEO of Tesla Elon Musk has announced that the company intends to produce 200,000 electric pickup trucks per 2024.
The United States Federal Reserve has just revealed that it will keep the Federal Funds Rate unchanged at 5.50%.
The quarterly earnings publication of AMD has caused a 7.30% surge of the company's stock price. The company beat the earnings per share forecast by 3.02% and the total revenues by 1.77%.
In October, factory activity in China unexpectedly declined, which indicates that the post-Covid recovery of the economy might be losing momentum.
Reuters has reported that Chinese firms have been buying up French and Australian wheat. The buying has started due to Chines crop being damaged by dry weather.
The Bank of Japan has kept its policy rate at -0.10%. In addition, the board announced details that caused a drop of the Yen. Namely, the BoJ revised its inflation forecasts for 2023, 2024 and 2025. If compared to US and European announcements of 2.00% inflation in 2024, the news indicate that the Bank of Japan will do less tightening