U.S.│Lyft’s new CEO
Mitchell Green and John Zimmer (pictured left), the co-founders of Lyft, an American ride-hailing app, stepped down as CEO and president respectively. David Risher, a former senior executive of Amazon, will become CEO. Effective from 17th. Green and Seamo were transferred to the chairman and vice chairman of the board of directors respectively.
United States│National house price index fell another 0.2% in January, falling for 7 consecutive days
The S&P Case-Shiller National Housing Price Index, which tracks the trend of housing prices across the United States, showed a monthly decline of 0.2% in January, which has fallen for seven consecutive months, showing that high mortgage interest rates continue to suppress the US housing market; compared with the same period last year, the housing price index in January was It rose 3.8 percent, also down from a 5.6 percent gain in December. The 30-year mortgage interest rate soared above 7% in October last year, and has fluctuated at a high level this year. It was reported at 6.42% last week, much higher than the 4.42% in the same period last year.
South Korea│LG strengthens OLED, borrows USD 770 million from parent company
LG Display (LG Display) announced after the close on the 27th that it has obtained a loan of 1 trillion won (about 770 million U.S. dollars) from its parent company LG Electronics (LG). The news encouraged LG Display’s share price to surge 13% on the 28th, the largest increase in 2 years and 7 months. The closing increase was still as high as 8.9%, surpassing the 1.1% increase of the broader market.
Australia│The central bank considers cutting interest rates and consumer confidence picks up
According to the latest data from ANZ Bank and Roy Morgan, a polling agency, consumer confidence in Australia rose slightly by 0.1 point to 76.6 points last week, reversing the four-week downward trend. On the other hand, the Australian Bureau of Statistics announced that retail sales in February increased by 0.2%, slightly higher than the market’s expected 0.1% increase, but lower than January’s 1.9%. Experts believe that high inflation this year may continue to compress consumer spending.
Saudi Arabia│Dissatisfied with no financial assistance to Credit Suisse? SNB chairman Khahudari resigns
Ammar al-Khudairy, chairman of the National Bank of Saudi Arabia (SNB), announced on the 27th that he would resign due to “personal factors”. His position will be taken over by Mohammed al-Ghamdi, CEO of SNB Group. Kahudari said in an interview with the media in mid-March that the company, as a major shareholder, was unwilling to inject further capital into Credit Suisse, which caused the latter’s stock price to plummet and triggered a crisis of confidence in the European banking industry.
France│Manufacturing confidence index declines
The French National Bureau of Statistics announced on the 28th that the manufacturing confidence index in March fell from 105 points after the upward revision in February to 104 points, ending the previous three-month rise. Monthly production capacity declines. French manufacturing confidence has recently remained at pre-pandemic levels, but lower than it was before the Russo-Ukrainian war broke out. Other recent reports have also pointed to a decline in French manufacturing production and new orders.
Brazil│End the losing streak! Consumer confidence rebounds in March
Brazilian consumer confidence finally rebounded in March after falling for two consecutive months. According to the Brazilian research institute FGV announced on the 28th, the consumer confidence index increased by 2.5 points to 87 in March. A reading below 100 reflects pessimism among consumers, while a reading above 100 indicates optimism. In addition, the current state of the economy and the economic outlook for the coming months have also improved.
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