Markets & Industries
Major carmakers get €458 million of fines in EC for participation in cartel - 04/02/2025
The European Commission (EC) imposed fines totaling approximately €458 million on several leading car manufacturers and the European Automobile Manufacturers' Association (ACEA) for their involvement in a cartel concerning car recycling. The regulator determined that the firms and ACEA had engaged in anti-competitive agreements and coordinated actions in this sector for over 15 years. Among other...
Goldman Sachs downgrades its S&P 500 outlook for the second time in a month - 04/01/2025
David Kostin, a strategist at Goldman Sachs Group, has reduced his target estimate for the U.S. S&P 500 index for the second time within a month, according to Bloomberg, citing the analytical report. Previously, on March 11, Kostin revised his prediction for the S&P 500 from 6,500 points at the end of 2025 to 6,200. He has now revised expectations downward to 5,700 points. The Goldman Sachs...
Analysts: Share of Chinese electric cars in Europe falls to 2 years-low - 03/31/2025
In February, the percentage of Chinese electric vehicles in the overall sales of these cars in Europe dropped to the lowest level in two years because of trade restrictions. As reported by the analytical firm Dataforce, it declined to 6.9% from 7.8% in January. In October 2024, the European Union authorized steep tariffs on imports of Chinese electric vehicles, with rates that can go as high as...
Goldman Sachs raises forecast for the value of gold by the end of 2025 - 03/28/2025
Analysts from Goldman Sachs Group increased their gold price prediction for the end of 2025 to $3300, as reported by Bloomberg, referencing a research note. This marks the second upward adjustment in Goldman Sachs' prediction for the precious metal since the start of the year. Just over a month ago, in February, analysts forecasted the price of gold to reach $3100 by the conclusion of 2025....
Bloomberg: Major commodity and energy traders admit the possibility of returning to Russia - 03/27/2025
Several leading commodity and energy trading firms may anticipate their return to Russia if the sanctions are removed, according to Bloomberg. The agency notes that some of them are still skeptical about the possibility of such a scenario occurring soon. “If the sanctions are relaxed sufficiently for us to go back to Russia, then why not? That is our responsibility,” Torbjörn Törnqvist, the...
Tech companies ask Trump to ease restrictions on AI chip exports - 03/26/2025
High-ranking foreign officials and representatives from leading tech firms have urged President Donald Trump's administration to lift the limitations on exporting AI chips, referred to as the "AI diffusion rule," according to Bloomberg, which interviewed over a dozen individuals familiar with the matter. Former U.S. President Joe Biden announced limitations on AI chip exports during his last days...
Canadian oil and gas chiefs call for reforms to develop sector - 03/24/2025
Leaders of 14 oil, gas, and pipeline companies in Canada have issued an open letter to the leaders of all political parties, encouraging them to hasten the development of energy projects to broaden the country’s export markets in light of the trade conflict with the United States. The letter notes increasing public backing for the development of new energy infrastructure in Canada, such as oil...
WSJ: Trump's family is in talks to buy a stake in Binance - 03/14/2025
Family members of US President Donald Trump were negotiating to acquire a stake in the US branch of the cryptocurrency exchange Binance, The Wall Street Journal reports, referencing knowledgeable sources. In November 2023, Binance Holdings Ltd. admitted guilt to breaching US anti-money laundering regulations, along with its founder Changpeng Zhao, who resigned. As per sources from WSJ,...
OPEC+ confirms plans to increase oil production from April - 03/04/2025
The eight member nations of OPEC+ held an online meeting to talk about the global crude oil market situation. At the conclusion of the discussions, they announced that they will begin a gradual rise in oil production starting April 1. They reached this agreement as early as last December. The typical sales volume is projected to be 2.2 million barrels daily (bpd). As a result, this gradual rise...
Bitcoin plunges below $90,000 amid Trump's duties and hacking of Bybit crypto exchange - 02/26/2025
The price of bitcoin dropped under $90,000, marking its lowest point since November 15, following the implementation of import tariffs by U.S. President Donald Trump and several setbacks within the crypto sector, Bloomberg reports based on trading data. Adrian Przelozny, CEO of crypto exchange Independent Reserve, believes the decline in bitcoin's value is likely linked to the widespread...
