Inflation Soars In Germany
On Wednesday, the German Statistical Office (Desatatis) reported that in February, German inflation accelerated, growing 9.3% year over year, and 1% for the month. Harmonized to compare to other European…
Chinese Factory Activity Grows Fastest In Over A Decade
China’s National Bureau of Statistics reported Wednesday that China’s manufacturing sector grew at the fastest rate seen in over a decade in February, due to a production rebound following the…
Mortgage Rates Continue To Cool Housing Market
Just as the housing market is supposed to be heating up, mortgage rates have begun rising again, pushing buyers back out of the market. According to the Mortgage Bankers Association’s…
Fitch Predicts Recession In Major Western Economies
On Thursday, Bloomberg reorted that Fitch is expecting Germany and Italy to slide into recession by year’s end, as inflation continues to rise. James McCormack, the head of sovereigns and…
Tesla’s Mexican Factory To Be Double The Size Of Their Texas Facility
The site of Tesla’s planned new gigafactory in the northern Mexican border state of Nuevo Leon spans several thousand acres, making it almost twice as big as the company’s Texas…
Salesforce CEO Says Company Pressed “Hyperspace Button”
Marc Benioff, the CEO and co-founder of Salesforce, has won some temporary leeway in his battle with activist investors, as the tech company just reported beating Wall Street estimates and…
HP Sees Sales Lagging
HP (HPQ) printed a mixed report for investors. The computer giant reported first quarter sales fell 18.8% year over year, as consumers and businesses pulled back on spending. HP CEO…
VinFast Makes First US EV Deliveries
VinFast, the Vietnamese electric carmaker, made its first completed sales outside of Vietnam as it delivered its first 45 cars to customers in California on Wednesday. A subsidiary of conglomerate…
US To Do More Pain To Huawei
On Tuesday the Wall Street Journal reported that Washington is mulling over annulling existing export licenses which allow American companies to export items to Chinese tech giant Huawei Technologies. The…
Russian Oil Production Returns To Pre-Sanctions Levels
On Tuesday, Russian newspaper Kommersant reported that Russian energy companies increased their average daily production of crude oil and condensate by 2% in February, to 1.508 million tons per day,…
