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 […]
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CEO JPMorgan Chase: Geopolitical Unrest is the Biggest Concern
The geopolitical tensions in the world surrounding the war in Ukraine and the deteriorating relationship between the West and China are of greater concern to the global economy than a recession. That said, Jamie Dimon, CEO of major US bank JPMorgan Chase at an economic forum in Saudi Arabia. “The […]
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Facebook Parent Company Must Sell Giphy From British Regulator
The American multinational Meta, the parent company of Facebook and Instagram, will then have to sell the GIF website Giphy. The Competition and Markets Authority (CMA), the British market regulator, has decided this. Meta appealed the decision, but that has now failed. Meta acquired Giphy in May 2020 in exchange […]
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Gas Price to Lowest Level in Three Months Due to Mild Weather
The European gas price is at its lowest in over three months. The price is going down, among other things, because large quantities of liquefied natural gas (LNG) are currently reaching Europe. These are the highest numbers around this time of year since 2016. Continued mild autumn weather is also […]
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More New US Jobs Than Expected, Unemployment Falling
Last month, 263,000 jobs were added in the United States. The US Department of Labor reports this in its monthly jobs report. There were more than in August, and unemployment also fell further. The jobs report suggests that the US economy is still strong, despite previous steps to curb high […]
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Gazprom to Supply Gas to Italy Again
The Russian state gas group Gazprom will again supply natural gas to Italy via Austria. On Saturday, gas deliveries to Italy via an Austrian pipeline were halted due to changes in Austrian regulations. Gazprom says it has found a solution with Italian customers so that gas can be resupplied. The […]
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Brent Oil Barrel Drops Below $85 for the First Time Since January
The price of Brent oil has fallen below $85 a barrel for the first time since January. Ongoing concerns about slowing global economic growth have been driving prices down for some time now. Brent oil is the benchmark for oil from, for example, the North Sea and the Middle East. […]
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Allianz: Chip Shortage Costs European Car Industry 100 Billion Euros
The shortage of chips will cost the European car industry around 100 billion euros in 2021 and this year, credit insurer Allianz Trade has calculated. The chip shortage has resulted in approximately 18 million fewer vehicles being produced worldwide. According to Allianz, the European automakers were particularly hard hit. The […]
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EU Ministers Meet Again in 2 Weeks to Discuss Energy Price Plans
The EU countries will discuss new plans this month to do something about the sky-high energy bills. On September 30, the energy ministers will consider the proposals they have asked the European Commission for. The ministers “will finish on September 30 what we started last week”, tweets the energy minister […]