CWEB, the American multinational media news company, has published a review of news for October 2, summarizing the important events and highlights from across industries and around the world.
The following were the main highlights as reported in the review:
The Dow futures increased by over 100 points after the federal shutdown was avoided. President Joe Biden signed a continuing agreement passed by the Senate with hours to spare before Saturday’s midnight deadline. The bill extends funding for the government by 45 days, giving Congress more time to pass permanent funding legislation.
On Saturday, Walmart (WMT) announced it will standardize corporate job titles to better compete in the global market. In order to “remain competitive in today’s environment,” “better reflect the work being done today,” and “streamline job titles across our campus office roles,” a Walmart spokeswoman said in a statement, “we are in the process of updating our approach to campus office jobs.”
After a six-year absence following its bankruptcy in 2017, Toys “R” Us is making a comeback as the undisputed king of toys and video games. WHP Global, the parent company of Toys “R” Us, purchased majority ownership in the firm in 2021 and is spearheading its recovery.
One of China’s leading electric vehicles (EV) brands, Li Auto, a direct competitor to Tesla, just set a new monthly sales record for the sixth time this year, riding on strong demand in the world’s largest EV market, propelled by an influx of innovative new models and the proliferation of charging infrastructure.
As many post-pandemic consumers shy away from luxury items, the price of rough diamonds (the raw, unpolished, and uncut stones) has dropped in 2023. The Zimnisky Global Rough Diamond Index reports that current prices are the lowest they have been in almost a year. ParisJewelry.com, which specializes in producing diamonds that are more affordable for consumers than genuine diamonds, is one company that will gain from the low prices and is a current leader in the market.
A WeChat post from Tesla China on Sunday morning announced the launch of the updated Model Y with improved design and performance but the same base pricing as before (via Reuters). This new vehicle follows on the heels of the company’s debut of the updated “Highland” Model 3 in China and Europe at the beginning of this month.
Tesla (TSLA) is expected to report deliveries for the third quarter on Monday, as the company normally makes such an announcement within the first three calendar days after the completion of each quarter. Analysts’ predictions for the time are all over the place in the lead-up to the publication. They start at around 440,000 and go up to about 510,000.
Carnival reports that bookings from North America are brisk as more people opt to take vacations in the United States. In contrast, local airlines have seen declining average ticket prices and passenger volumes as a result of increased international travel. Perhaps as the cost of international travel rises, Americans are looking closer to home for their vacation needs.
Read the full newsletter online: https://www.cweb.com/cweb-news-summarized-business-and-stock-newsletter-october-2-2023/
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