The US authorities have failed to find a Silicon Valley Bank (SVB) buyer. So they plan to break up the California bank, which went bankrupt after a bank run. That writes the financial agency Bloomberg based on sources close to the file. According to the sources, the federal government agency […]
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iPhone Maker Foxconn’s Revenue Plummets Despite Restart in China
iPhone producer Foxconn reported a sharp decline in revenue last month, despite increased sales following the reopening in China. In February, its turnover fell by almost 12 percent to 12.2 billion euros after conversion, according to the Taiwanese company yesterday. The company’s massive iPhone assembly complex in the Chinese city […]
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German Industry Receives Considerably More Orders in December
German factories received considerably more orders in December. This seems to be a new sign that Europe’s largest economy can go unscathed through the winter. The number of orders from German factories was up 3.2 percent compared to the previous month. That was much more than analysts had expected. Substantial […]
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Lagarde: ECB Not Ready Yet to Raise Interest Rates
Even after the next policy meeting in March, the European Central Bank (ECB) has not yet finished raising interest rates. Central Bank President Christine Lagarde said this during a commentary on Wednesday’s interest rate hike. “We are not yet at the peak and still have a lot to do.” While […]
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Inflation in the Euro Zone Cools Down Further to 8.5 Percent in January
Daily life in the eurozone has become 8.5 percent more expensive in January, the European statistics office Eurostat reports based on provisional figures. As a result, the rate at which consumer prices rise in the euro area has slowed further compared to previous months. However, in December, inflation was still […]
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Toyota Rises on Japanese Stock Market After Production Increase
Toyota was one of the strongest risers on the Tokyo stock exchange on Tuesday. Investors welcomed the news that the Japanese car manufacturer wants to build significantly more cars this year than last year. Toyota thinks it can put the problems with the supply of parts due to corona lockdowns […]
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British Employers: Admit More Skilled Migrant Workers
More skilled migrant workers must be admitted to the UK to tackle the country’s economic problems. That is the opinion of the Confederation of British Industry (CBI), the largest employers’ organization in the United Kingdom, which is increasing the pressure on Prime Minister Rishi Sunak. “We have an immigration system […]
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Grain Deal Black Sea is Extended
The agreement on the export of Ukrainian grain is extended. A Turkish official who wished to remain anonymous confirmed this to the French news agency AFP on Thursday. However, the deal basically expired Friday night. The official said that the agreement will be extended “under the same conditions” that have […]
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Nintendo Falls on Lower Japanese Stock Market, China Stock Markets Also Fall
Nintendo was among the biggest decliners on the Tokyo stock exchange on Wednesday. The Japanese game console manufacturer raised its profit forecast for the entire fiscal year but expected to sell fewer Switch game consoles. This is partly due to production problems with the popular console due to shortages of […]
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Grain Price Increases Due to Russia Blowing Up Grain Deal
Prices for grain on the so-called futures market rose sharply on Monday. The increase is mainly caused by Russia’s decision no longer to allow grain exports from Ukraine via the Black Sea. This agreement, signed in July, was seen as crucial in solving the world’s tight supplies and keeping the […]