International News
Over $4bn wiped off Coca-Cola market value after Ronaldo rejects bottle
Footballer Cristiano Ronaldo, removed two Coca-Cola bottles from the table during a press conference at the Eurocup 2020 football tournament and caused a $4bn fall in the share price of the company.
Stocks slip as Fed raises projections for rate hikes in 2022 and 2023
Central bankers in the US nudged up their individual projections for short-term interest rates in 2022 and 2023 at their two-day policy meeting, although they didn't actually discuss potential dates for the so-called 'lift-off' in rates.
Ex-Fed Governor Warsh says betting on change in stance is a 'long putt'
A former top US central bank official said that betting on a change in policy stance before August's Jackson Hole central banking symposium was a "long putt from here".
Europe close: Stocks little changed ahead of 'crucial' Fed meeting
European shares were mostly higher on Wednesday as investors waited on news of the US Federal Reserve's two-day policy meeting that was scheduled to end later the same day.
Director dealings: Aston Martin Lagonda director picks up some shares
Aston Martin Lagonda non-executive director, Robin Freestone, picked up some shares in the carmaker as they were trading near their level from just before the start of the Covid-19 pandemic.
Waymo announces $2.5bn investment round
Alphabet owned Waymo announced a $2. 5bn investment round Wednesday, which will go toward advancing its autonomous driving technology and growing its team.
US open: Stocks in holding pattern ahead of Fed meeting
Wall Street's main market gauges were little changed in early trading with traders opting to sit on their hands ahead of Federal Reserve chairman Jerome Powell's press conference scheduled for the afternoon.
GM to raise spending on EVs by almost one third
General Motors announced on Wednesday that it would increase spending on electric vehicles to $35bn by 2025, a 30% increase on the plans announced in 2020.
US import prices jump past forecasts in May
The cost of goods purchased overseas jumped past forecasts last month, even if those exported increased in price even faster.
Lincoln expects half of its car sales to be all-electric models by 2026
Ford Motor’s luxury carmaker brand Lincoln, expects at least 50% of its sales to come from all-electric cars by 2026.
US housing starts rise in May, even as sector comes off the boil
Housing starts rose last month but by less than anticipated, alongside a continued decline in permits for new construction, pointing to a residential market that was coming off the boil.
Chinese retail sales, factory output miss forecasts
China’s ongoing economic recovery appeared to have stumbled on Wednesday, after official data came in below expectations.
Iran nuclear deal must wait until formation of new government
Returning to the 2015 Iran nuclear accord will have to wait until the formation of a new Iranian government, said the head of the UN nuclear watchdog on Wednesday.
Citi sees Q2 trading revenues falling by a third
Citigroup's trading revenues could drop by nearly a third during the second quarter as the pandemic-fuelled boom loses steam.
US pre-open: Traders jittery ahead of Fed decision, 'dot plot' in focus
US stock market futures are little changed ahead of the result of the Federal Reserve's two-day policy meeting later on Wednesday, as traders try to anticipate if anything will really change.
Asia report: Markets mixed after slew of China, Japan data
Stock markets in Asia closed mixed on Wednesday, as investors digested a slew of economic data out of the region, and looked ahead to the outcome of the two-day Federal Reserve meeting in the US later in the global day.
Ifo Institute cuts German growth forecasts for 2021
Germany’s Ifo Institute has cut its growth forecasts for the country this year, citing supply bottlenecks in manufacturing.
Volvo aims to build cars with fossil-free steel by 2026
Swedish steelmaker SSAB said on Wednesday it had agreed with Volvo Cars to start a joint-venture to explore the development of fossil-free steel to use in the automotive industry.