Sothebys, Dow Chemical Provide Double Wins for Dan Loeb

In a surprising move, China's Central Bank cut its benchmark interest rates for the first time since 2012, aiming to counteract its slowest annual growth in over two decades. This unexpected decision, along with comments from ECB President Mario Draghi about Europe's low inflation, caused global stock markets to rise. Draghi emphasized the need for the ECB to address the low inflation to avoid a deflationary spiral, and the ECB began buying asset-backed securities. Meanwhile, the Gap lowered its profit forecast due to declining sales, and Sotheby's announced a leadership change following a proxy fight with activist investor Dan Loeb.

What action did the China Central Bank take regarding its benchmark interest rates?

What did ECB President Mario Draghi say about inflation expectations in Europe?

What measures is the ECB taking to address the inflation situation in the euro area?

What impact did the actions of the China Central Bank and the ECB have on global stock markets?

What recent changes occurred at Sotheby's regarding its leadership?