Important Developments in the Financial World of the Week

Important Developments in the Financial World This Week

$4.6 billion is the price for Kering, the owner of Gucci, selling its beauty business to L'Oreal. This represents a significant strategic move taken by the new CEO Luca de Meo to overcome the luxury group's high debt burden. Kering's fragrance line Creed will also be acquired by L'Oreal as part of this deal.

%10 is the percentage by which Intel Corporation stocks increased after the company exceeded its third-quarter earnings forecasts. Net income was reported at $4.1 billion, whereas in the same period last year, a loss of $16.6 billion was reported. The chip giant's shares have risen %90 this year, following multi-billion dollar investments from Nvidia and Softbank, marking the first earnings announcement since then.

%5 is the percentage increase in oil prices on September 24. Markets reacted after the United States imposed sanctions on leading Russian suppliers Rosneft and Lukoil regarding the Ukraine war. An analyst noted that this situation means that refineries, which are major buyers of Russian oil, such as China and India, need to find alternative suppliers.

%33 indicates how much Volvo Cars shares rose on Wednesday. Investors bought their shares after the automaker exceeded third-quarter profit forecasts. Extensive cost-cutting measures have produced unexpected results. Despite these developments, Volvo is one of the European automakers most affected by tariffs in the United States.

%20 is the percentage increase for Six Flags shares this week. The company is under pressure following its collaboration with activist investor Jana Partners and football star Travis Kelce. Kelce is the star tight end of the NFL's Kansas City Chiefs and has recently become engaged to singer Taylor Swift.