September 7, 2023 12:41 pm
Swedish conglomerate ASSA ABLOY said on Thursday that it had acquired Lawrence Hardware and Gallery Specialty, Canada-based providers of commercial hinges, locksets, exit devices and door hardware accessories. Lawrence Hardware was established in 1876, while Gallery Specialty – in 1989, with the two firms together employing about 50 people. “I am very pleased to welcome […]
Read moreSeptember 7, 2023 9:35 am
Having registered a seven-day streak of gains, futures on US West Texas Intermediate Crude Oil retreated on Thursday, as demand concerns related to possible winter period slowdown countered prospects of tighter supply from extended output cuts. WTI Futures had risen earlier this week after Saudi Arabia and Russia extended voluntary production cuts to the end […]
Read moreSeptember 7, 2023 7:27 am
India’s Rupee traded little changed against the US Dollar on Thursday, while disregarding a drop in China’s Yuan and other Asian currencies, with investors betting the nation’s central bank will keep intervening to defend the currency. The Reserve Bank of India has been frequently intervening in the non-deliverable forward market to ensure the Rupee does […]
Read moreSeptember 5, 2023 2:45 pm
Applied Industrial Technologies said on Tuesday that it had acquired both Bearing Distributors Inc and Cangro Industries Inc, providers of bearings, power transmission, industrial motion and related service and repair capabilities. Bearing Distributors is based in Columbia, South Carolina, while Cangro Industries – in Long Island, New York. Bearing Distributors has a team of over […]
Read moreSeptember 5, 2023 12:34 pm
According to a report by the Nikkei newspaper on Tuesday, Nissan Motor Co Ltd (7201) will push back the start of production of its next “Kicks” sport-utility vehicle in Mexico by at least six months since mold components were stolen at a domestic supplier. The remodeled “Kicks” SUV production had been expected to begin in […]
Read moreSeptember 5, 2023 9:02 am
The South African Rand retreated against the US Dollar on Tuesday, as South Africa experienced the most severe power cuts on record. State utility Eskom reinstated the worst rolling blackouts on record, which resulted in up to 12 hours of power cuts for the majority of households per day. “With the increase in generation planned […]
Read moreSeptember 5, 2023 7:22 am
AUD/JPY lost ground sharply on Tuesday after the Reserve Bank of Australia left its cash rate without change at 4.1% at its September meeting, in line with expectations. The central bank extended the rate pause for a third consecutive month, while adding to market speculation its policy tightening cycle could be over. Policy makers noted […]
Read moreSeptember 4, 2023 9:40 am
USD/JPY was a notch firmer on Monday, being not far from last week’s 9 1/2-month high, with trading volumes likely to remain light due to the Labor Day federal holiday in the United States. As the major Forex pair continues to trade in the area around the psychological 145 level, market players are still on […]
Read moreSeptember 4, 2023 7:40 am
USD/CAD was little changed in thinned trading on Monday, as market players mulled the latest US employment data prints, which hinted at certain cooling. Those macroeconomic figures also added to expectations that the Federal Reserve may be nearing the end of its policy tightening cycle. Data showed on Friday that the US economy had added […]
Read moreSeptember 1, 2023 12:33 pm
Futures on US West Texas Intermediate Crude Oil were set to register their first weekly advance in three weeks, underpinned by prospects of tightening supply. Saudi Arabia is largely expected to extend a voluntary production cut of 1 million barrels per day into October in addition to curbs engineered by the OPEC+ group. Also, Russia’s […]
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