Chinese startup Li Auto sold more cars in October than Tesla’s China business did in October, according to the China Passenger Car Association.
Powell says Fed is ’not confident‘ it has done enough to bring inflation down
Powell said in remarks for an International Monetary Fund audience that more work could be ahead in the battle against high prices.
Watch Fed Chair Jerome Powell speak live to an IMF panel on monetary policy
The U.S. central bank leader’s remarks follow a Fed decision last week to hold benchmark policy rates at their current level.
China’s largest chipmaker SMIC posts a 80% drop in third-quarter profit
China’s largest chipmaker SMIC on Friday posted a 80% profit drop as global demand weakness hit foundries hard.
Startup Li Auto is beating Tesla China’s EV sales
Chinese startup Li Auto sold more cars in October than Tesla’s China business did in October, according to the China Passenger Car Association.
Flutter shares fall after disappointing earnings — but it insists FanDuel is No. 1 in sports betting
A disappointing earnings report sent shares of FanDuel parent Flutter falling, as it defends its first place position in the U.S. sports betting market.
Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes
Shares of The Trade Desk plunged in extended trading on Thursday after company provided guidance that fell well short of analyst expectations
Unity shares slide as the company posts a revenue miss and skips guidance
While China impact persisted, the game engine maker is in the midst of a review that might affect future operations. That’s why Unity isn’t giving guidance.
Cash funds continuing to attract inflows, set for record year – BofA
Cash funds continuing to attract inflows, set for record year – BofA
Global investors continued to pour money into cash funds in the week to Wednesday, as higher yields on short-dated debt put cash funds course for record inflows this year, according to Bank of America and data provider EPFR.
BofA’s weekly ‚Flow Show‘ report showed cash funds attracted $77.7 billion of inflows in the week to Nov. 8, putting them on track to see around $1.4 trillion of inflows in 2023.
This article was written by Ryan Paisey at www.forexlive.com.
Italian economy likely to slow in next few months
Italian economy likely to slow in next few months – stats bureau
The Italian economy is likely to slow further in the next few months after stagnating in the third quarter, national statistics bureau ISTAT said on Friday.
In its monthly economic bulletin ISTAT noted that consumer confidence fell for a fourth month running in October, while business morale also dropped in all sectors barring construction.
The data „suggests the Italian economy could slow down in coming months,“ ISTAT said.
*Italian gross domestic product was flat in the third quarter compared with the previous three months, a preliminary ISTAT estimate showed last week, following a 0.4% contraction between April and June.
This article was written by Ryan Paisey at www.forexlive.com.