Economics

The European Commission has fined Teva Pharmaceuticals €462.6m for abusing its dominant market position by blocking competition to its multiple sclerosis drug, Copaxone.

Amazon.com reported third-quarter earnings after market close today. They have exceeded market expectations, driven by strong performances in the company's cloud computing and advertising divisions.

The Australian Bureau of Statistics released a range of economic updates today, highlighting shifts across building approvals, export prices, and retail spending for September 2024.

Microsoft released its Q1 FY25 financial results after market close today, reporting revenues of US$56.5bn and an earnings per share of US$2.99. These figures surpassed consensus projections, which estimated revenue at US$54.5bn and EPS at US$2.65.

Meta Platforms (Nasdaq: META) reported its Q3 2024 earnings after market close, showcasing a strong financial performance.

KKR and Energy Capital Partners (ECP) have committed to a US$50bn investment to meet the fast-growing needs of artificial intelligence (AI) and cloud computing.

Australia’s inflation has returned to the Reserve Bank of Australia’s (RBA) target range of 2-3% for the first time since March 2021, driven by a substantial drop in energy and fuel prices.

Spot gold is trading at a record high of US$2,769.61 per ounce (surpassing a previous record of US$2757.22, set on 23 October this year).

HSBC’s third-quarter results have exceeded expectations, propelling its shares to a six-year high.

BP's shares have dropped to their lowest level since 2022, after the company reported a sharp reduction in profit in its third quarter 2024 results.

Bitcoin has once again surged beyond $70,000, marking a comeback after months of volatility.

The Reserve Bank of Australia’s (RBA) 2024 Annual Report reflects a year of significant financial challenges and organisational shifts.

Crude oil futures have declined following Israeli airstrikes that did not target critical Iranian oil infrastructure.

Japanese stocks have rallied as the yen has dropped to a three-month low. The currency’s fall follows Sunday’s election, where Prime Minister Shigeru Ishiba’s ruling coalition lost its parliamentary majority, raising political and economic uncertainty.

Gold prices experienced notable fluctuations last week.

On Friday, German Finance Minister Christian Lindner issued a warning about the dangers of a potential trade war between the United States and the European Union.

On Friday, the Nasdaq Composite surged to an all-time high, ending a turbulent week with a strong rally led by tech giants.

Over the past year, the price of gold has experienced something unusual. It has reached record highs, seemingly disconnected from traditional influencers like interest rates, inflation, and the dollar.

Gold prices reached all-time highs on Monday.

Mineral Resources Limited (ASX:MIN) is addressing governance issues following recent media reports concerning Managing Director Chris Ellison.

As of mid-October 2024, US crude oil stockpiles have risen, with a recent increase of 10.2 million barrels reported during the week ending October 11.

Elon Musk’s Starlink has scored a significant victory in India’s satellite spectrum allocation battle, raising the prospect of a price war with Mukesh Ambani’s Reliance Jio.

European markets closed higher on Thursday, after the European Central Bank (ECB) cut interest rates for the third time this year.

The US economy added 254,000 jobs in September 2024, significantly exceeding the 140,000 forecast by economists.

Retail sales in the United States rose by 0.4% in September 2024, surpassing market expectations of 0.3%.

Shares of Nvidia reached a new all-time high on Monday, surpassing their previous peak from July.

General Motors has significantly increased its investment in a key lithium project, raising its total commitment to nearly $1 billion as it aims to secure a long-term supply of the critical metal essential for electric vehicle battery production.