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Iris Barker


Lavazza CEO expects further growth in global coffee prices

Climate change, disruptions in supply, and new restrictions from the European Union will push up costs for roasters, which will translate into higher coffee prices for end users, according toโ€ฆ
Published on July 10, 2024
By Iris Barker

Over 6.5 thousand Samsung employees go on strike

According to the Financial Times, more than 6,500 workers at Samsung Electronics, based in South Korea, began a three-day strike on Monday.
Published on July 9, 2024
By Iris Barker

For the first time Chinese state procurement includes Tesla electric cars

A batch of Model Y electric cars from the American corporation Tesla was recently purchased by several state-owned enterprises in Shanghai's pilot free trade zone (FTZ) for corporate use, accordingโ€ฆ
Published on July 9, 2024
By Iris Barker

Keir Starmer becomes new Prime Minister of the United Kingdom

Keir Starmer, the head of the Labour party that won parliamentary elections, was appointed Prime Minister of Britain.
Published on July 7, 2024
By Iris Barker

NY Fedโ€™s Head: the Fed has not reached the inflation target

According to Federal Reserve Bank of New York President John Williams, the Fed has successfully slowed the rate at which consumer prices are rising in the United States, but itโ€ฆ
Published on July 7, 2024
By Iris Barker

European airlines will have to raise prices due to decarbonization costs

According to Luis Gallego, CEO of International Consolidated Airlines Group S.A. (IAG), European airlines would have to increase ticket prices to offset the expense of cutting harmful emissions, as reportedโ€ฆ
Published on July 4, 2024
By Iris Barker

European Commission imposes duties on imports of Chinese electric cars into the EU

While talks with China are ongoing, the European Commission has placed temporary extra charges on the importation of Chinese electric motor vehicles (EVs) into the EU.
Published on July 4, 2024
By Iris Barker

EU reduces energy imports in volume and money terms in Q1

According to EU statistical office Eurostat, the EU purchased 183.8 million tonnes of energy products worth โ‚ฌ95.5 billion between January and March of 2024. Comparing the two, the former decreasedโ€ฆ
Published on July 2, 2024
By Iris Barker

Tesla cuts Q2 deliveries by almost 5%, but result exceeds forecasts

Deliveries of the US electric car manufacturer Tesla Inc. decreased in the second quarter, but the quarter results exceeded market expectations.
Published on July 2, 2024
By Iris Barker

Hong Kongโ€™s volume of share placements in the first half of 2023 hits the lowest since 2003

The London Stock Exchange Group reports that the Hong Kong Stock Exchange saw $6.3 billion in share and convertible bond offers in the first half of this year, a 43.8%โ€ฆ
Published on July 2, 2024
By Iris Barker

German consumer prices rise 2.5 per cent in June, as forecasted

German consumer prices, which are in line with EU regulations, rose 2.5% annually in June 2024 after increasing 2.8% the previous month, according to preliminary statistics released by the Federalโ€ฆ
Published on July 2, 2024
By Iris Barker

Bankrupt Fisker to recall over 12.5 thousand electric cars

Fisker, an American electric vehicle manufacturer that filed for bankruptcy earlier in June, has voluntarily recalled over 12,500 vehicles in North America and Europe due to potential issues with externalโ€ฆ
Published on June 30, 2024
By Iris Barker

EU Council Presidency passes to Hungary

On Monday, Hungary will take over the rotating presidency of the European Union Council for the next six months.
Published on June 30, 2024
By Iris Barker

EU and Ukraine sign agreement on security guarantees

Zelensky and the EU have inked a deal pertaining to long-term security obligations. The agreement codifies the union's pledges to, among other things, arm Kiev, train Ukrainian forces, demine, andโ€ฆ
Published on June 27, 2024
By Iris Barker

LVMH head Bernard Arnault becomes a shareholder of rival Richemont

The Financial Times writes, citing reliable sources, that Bernard Arnault, one of the richest men in the world and the creator of the luxury goods company LVMH, has purchased sharesโ€ฆ
Published on June 27, 2024
By Iris Barker

Tesla to cut at least 14% of staff this year

Based on internal business statistics, CNBC has determined that US electric vehicle manufacturer Tesla has reduced at least 14% of its personnel this year.
Published on June 25, 2024
By Iris Barker

Novo Nordisk to invest $4.1bn in US plant construction

Novo Nordisk, a Danish pharmaceutical corporation, said in a news release that it will invest $4.1 billion to construct a plant in Clayton, North Carolina.
Published on June 25, 2024
By Iris Barker

Amazon to replace 95% of plastic packaging with paper packaging in North America

According to a statement from the company, 95% of air-filled plastic packaging in North America will be replaced by paper fillers made entirely of recycled materials.
Published on June 23, 2024
By Iris Barker

Survey: US millionaires agree with raising taxes for the richest citizens

According to the Financial Times, a YouGov survey conducted among Americans earning more than $1 million revealed that the majority of them are in favor of Joe Biden's plan toโ€ฆ
Published on June 23, 2024
By Iris Barker

Onsemi to build $2 bln chip plant in Czech Republic

The US semiconductor maker ON Semiconductor Corp. (Onsemi) said that it intends to construct a chip facility in the Czech Republic.
Published on June 21, 2024
By Iris Barker

Swiss central bank cuts rate to 1.25% from 1.5%

The Swiss National Bank (SNB), lowered the benchmark interest rate by 25 basis points, to 1.25% annually.
Published on June 21, 2024
By Iris Barker

Bank of Japan keeps the rate unchanged, plans to cut purchases of government securities

The Bank of Japan decided to maintain the current key interest rate.
Published on June 16, 2024
By Iris Barker

Stellantis to move electric car production from China as part of JV with Leapmotor

The automotive company Stellantis will shift some of its production of electric vehicles from China to Europe in the event that more taxes are levied on Chinese-made automobile imports intoโ€ฆ
Published on June 16, 2024
By Iris Barker

Saudi Arabia to float Saudi Aramco shares for $11.2 bln

Saudi Arabia plans to sell an additional $11.2 billion worth of Saudi Aramco shares.
Published on June 9, 2024
By Iris Barker

IEA projects global clean energy spending to grow to $2 trillion in 2024

The International Energy Agency has projected that global spending on clean energy technology and infrastructure will exceed $2 trillion in 2024, despite the fact that increased financing costs deter newโ€ฆ
Published on June 9, 2024
By Iris Barker

Airbus in talks to sell more than 100 aircraft in China

According to Bloomberg, European aerospace company Airbus SE is in negotiations to sell more than 100 wide-body A330neo aircraft to significant Chinese airlines.
Published on June 4, 2024
By Iris Barker

S&P downgrades France’s rating from โ€˜AAโ€™ to โ€˜AA-โ€™

France's long-term sovereign credit ratings in foreign and local currencies have been reduced from "AA" to "AA-" by S&P Global Ratings. The agency released a press release stating that theโ€ฆ
Published on June 4, 2024
By Iris Barker

STMicroelectronics to build โ‚ฌ5 billion plant in Italy

The leading designer and producer of semiconductor components in Europe, STMicroelectronics, plans to construct a โ‚ฌ5 billion factory in Italy.
Published on June 2, 2024
By Iris Barker

Japan’s Finance Ministry confirms first intervention in the foreign exchange market since 2022

According to CNBC, data from the Japanese Finance Ministry released on Friday verified that the foreign exchange market had been intervened in to lessen the yen's slide.
Published on June 2, 2024
By Iris Barker

FT: NATO has only 5% of necessary air defense capabilities to defend Europe

Less than 5% of NATO members possess the air defense capabilities required to defend Eastern and Central European nations from a full-scale attack, writes the Financial Times citing people whoโ€ฆ
Published on May 30, 2024
By Iris Barker

Merck to pay up to $3 bln for pharma company EyeBio

American pharmaceutical company Merck & Co. has entered into an agreement to acquire EyeBio, a startup that develops medications for treating eye disorders, reports the Financial Times referring to aโ€ฆ
Published on May 30, 2024
By Iris Barker

Pipeline operator Energy Transfer to buy WTG Midstream Holdings for $3.3bn

According to a statement from the buyer, US pipeline behemoth Energy Transfer has agreed to pay $3.25 billion to acquire WTG Midstream Holdings from companies connected to Stonepeak, Davis Estate,โ€ฆ
Published on May 29, 2024
By Iris Barker

Reuters: Amazon plans to invest โ€˜billions of eurosโ€™ in data centres in Italy

Amazon Web Services is in negotiations with Italian authorities about investing "billions of euros" to expand its cloud service infrastructure, writes Reuters referring to sources.
Published on May 29, 2024
By Iris Barker

Guyana’s president offers Chevron entry into $150bn oil project

Irfaan Ali, the president of Guyana, would be pleased to see US-based Chevron Corp. acquire shares in the company running the Stabroek Block oil project off the coast of theโ€ฆ
Published on May 28, 2024
By Iris Barker

China sets up $48bn fund to support semiconductor industry

The Wall Street Journal reports that China has established a 344 billion yuan ($48 billion) fund to support the growth of the semiconductor industry.
Published on May 28, 2024
By Iris Barker

Analysts: Global buyback volume in 2023 down 14% to $1.11 trillion

The top corporations in the world repurchased $1.11 trillion worth of their own stock in 2018, as show figures by UK-based management firm Janus Henderson.
Published on May 26, 2024
By Iris Barker

Foreign direct investment in China falls by 27.9% in January-April

The continental China's Ministry of Commerce reports that the country's FDI, or foreign direct investment, shrank by 27.9% year over year to 360.2 billion yuan ($49.7 billion) from January toโ€ฆ
Published on May 26, 2024
By Iris Barker

EC fines Mondelez โ‚ฌ337.5m for interfering with cross-border trade

American Mondelez International Inc. has been penalized โ‚ฌ337.5 million by the European Commission for breaking competition laws. According to a news release from the watchdog, the EC believes that theโ€ฆ
Published on May 23, 2024
By Iris Barker

South Korea to offer $19 bln support to semiconductor industry

South Korean President Yoon Suk Yeol launched a stimulus package worth 26 trillion won, or more than $19 billion in an effort to boost the nation's semiconductor sector.
Published on May 23, 2024
By Iris Barker

Amazon to invest โ‚ฌ15.7bn to expand data centres in Spain

According to a statement from the firm, Amazon.com Inc. plans to invest โ‚ฌ15.7 billion to expand its cloud infrastructure in Spain.
Published on May 23, 2024
By Iris Barker

Muslim countries welcome three European countriesโ€™ decision to recognize Palestine

A number of Muslim nations applauded Norway, Ireland, and Spain for their decision to recognize Palestine as an independent state.
Published on May 23, 2024
By Iris Barker

Hong Kong’s GDP growth in Q1 was the highest in a year

Hong Kong's GDP growth surged quarterly but declined annually in the first quarter of 2024.
Published on May 19, 2024
By Iris Barker

Daimler and Volvo create JV to develop digital manufacturing platform

According to Daimler, the Swedish company Volvo Group and the German company Daimler Truck will form an equal-share joint venture (JV) to create a software-based platform for the manufacturing ofโ€ฆ
Published on May 19, 2024
By Iris Barker

India in March imports maximum LNG volume in the post-covid era

The countryโ€™s ministry of commerce and industry reports that India imported 2.304 million tons of liquefied natural gas in March 2024, a 20 percent increase from 1.924 million tons inโ€ฆ
Published on May 16, 2024
By Iris Barker

Chevron to leave British part of North Sea after over 55 years in business

According to the companyโ€™s statement, U.S. Chevron Corp. will sell its remaining oil and gas assets in the British portion of the North Sea, where it has been active forโ€ฆ
Published on May 16, 2024
By Iris Barker

Slovak authorities say Fico’s condition critical after assassination attempt

According to Slovakia's interior minister, the prime minister is still undergoing surgery and is in a critical situation.
Published on May 15, 2024
By Iris Barker

IEA notes decline in refineries profitability in April to two-year lows

The IEA noted in its May report that although geopolitical tensions remain high, oil prices fell considerably in April and early May due to concerns about the global economy andโ€ฆ
Published on May 15, 2024
By Iris Barker

90 per cent of U.S. and Canadian companies report increase in cybersecurity threats

In 2023, % of North American businesses faced cybersecurity risks, according to the Wall Street Journalโ€™s survey of compliance specialists.
Published on May 14, 2024
By Iris Barker

UK authorities cut stake in NatWest bank below 27 per cent

The United Kingdom government has lowered its ownership position in NatWest, the old Royal Bank of Scotland, from 27.93% to 26.95%.
Published on May 14, 2024
By Iris Barker

Tesla to invest over $500 million to expand its network of EV fast charging stations

According to the companyโ€™s Chief Executive Officer Elon Musk, Tesla Inc. would spend more than $500 million this year to increase the number of fast-charging stations for electric vehicles inโ€ฆ
Published on May 13, 2024
By Iris Barker
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