U.S. bank Wells Fargo & Co (NYSE:WFC). recorded a 6% decline in revenue in the fourth quarter of 2022, while its net income fell by half due to one-time expenses. According to a press release from the bank, revenue in the October-December period totaled $19.66 billion, down from $20.86 billion in the same period a […]

Bed Bath & Beyond has had a tumultuous start to 2023, with the company’s stock up more than 230% in just four days, writes Business Insider. According to S3 Partners, short sellers of the dwindling retailer made $179 million in profits in 2022, but they lost more than $30 million in 2023, and are now […]

The European Union’s tenth package of anti-Russian sanctions should be ready by the end of February, it may include further restrictions on Russian media and disconnecting more banks from the SWIFT system, Reuters reports citing diplomats from Poland and Lithuania. “They (diplomats) said that the tenth package of sanctions should be ready by February 24,” […]

Russia and Iran have started discussing the creation of a joint steiblcoin linked to gold, and economists have assessed the likelihood of recession in the United States in the coming year – these and other important news for Monday morning, January 16, in our daily review. The Central Bank of Iran is discussing with Russia […]

At least four Chinese supertankers are delivering Russian Urals crude oil to China after the European Union and G7 countries imposed a price ceiling on energy from Russia, Reuters reports. According to the agency, another vessel was heading to India. According to Reuters’ sources, all five shipments were scheduled for the period from December 22 […]

According to recent data, consumer inflation in the U.S. is generally weakening, which strengthens expectations of further slowing of the rate dynamics by the Federal Reserve, but at the same time, inflation remains above the Fed’s 2% target, which does not yet give full hope of easing the central bank’s course, writes Business Insider. Bank […]

SPB Exchange shares soared by 16.96% to 141.4 rubles per paper as of 11:54 MSC, according to trading data on the Moscow Exchange. By 11:56 MSC, the growth slowed to 15.8%, and the price per share amounted to 140 rubles. The jump in quotations occurred after SPX Exchange published trading results for 2022 and announced […]

The average price of Urals oil from December 15, 2022 to January 14, 2023 was $46.82 per barrel or $341.8 per ton, the Finance Ministry said. This is 18.5% lower than a month earlier ($57.49). According to the calculations of the ministry, the export duty on oil in Russia from February 1, 2023 will be […]

Lambrecht said the incessant criticism in the media made it impossible for her to continue as minister. Critics accused her of incompetence and slowness in re-equipping the Bundeswehr. Lambrecht said in a statement released Monday, Jan. 16, that she had submitted a petition to that effect to German Chancellor Olaf Scholz. “The many months of […]

The price of gas in Europe during exchange trading on Monday fell below $650 per 1,000 cubic meters for the first time since the beginning of September 2021, according to the data of the London exchange ICE. The total price decline for the day is more than 11%. The cost of February futures at the […]

Wharton professor Jeremy Siegel believes Wall Street analysts are being too negative about the stock market as they expect a major sell-off in the first half of 2023, followed by a recovery in the second half. Siegel believes that when everyone expects the same thing, that’s exactly what doesn’t happen, writes Business Insider. “I think […]

Kelly Cox, an investment analyst at eToro, has highlighted the 2 biggest risks to watch for in the U.S. stock market this year and advised how investors should position themselves ahead of a potential recession in the U.S., writes Business Insider. According to her, this year the U.S. economy will either avoid recession or slip […]

Global sales of electric vehicles increased significantly in 2022 due to the upswing in demand in China and Europe. Their share in total annual vehicle sales approached 10%, according to data from analyst companies LMC Automotive and EV-Volumes.com. Sales of all-electric vehicles jumped 68% year-on-year to 7.8 million units, according to the data. In Europe, […]

U.S. House Speaker Kevin McCarthy called for spending cuts earlier this week as the U.S. faces the federal debt ceiling. The World Economic Forum kicked off in Davos, but there are big gaps in the delegate lists in the form of China and Russia. The U.S. stock market is closed due to the Martin Luther […]

In trading on January 16, the dollar index fell by 0.97% to 101.77 points. The indicator was last traded at this mark on June 3, 2022. The index fell to its lowest level in six months amid weakening inflation expectations in the United States. Investors are selling the dollar in anticipation that the U.S. Federal […]

Japanese automaker Nissan Motor Co. and French automaker Renault SA are in the final stages of negotiating a deal to renegotiate the terms of a bilateral alliance, according to Japanese newspaper Yomiuri. The parties are holding final discussions on reducing Renault’s stake in Nissan and Nissan’s investment in Renault’s electric car business, expecting to finalize […]

In December, consumer prices in Germany, harmonized with EU standards, increased by 9.6% in annual terms, according to the final data of the Federal Statistical Office of the country (Destatis). The rate of inflation slowed down from 11.3% in November and became the lowest for the last 4 months. In monthly terms, deflation of 1.2% […]