May 31, 2023 9:06 am
Futures on US West Texas Intermediate Crude Oil retreated for a third consecutive trading day on Wednesday, as concerns over slowing demand in the world’s largest oil importer China overshadowed some progress in US debt ceiling talks. The latest macro data coming out of China showed manufacturing sector activity had shrunk at a steeper pace […]
Read moreMay 30, 2023 9:28 am
Nestlé said on Tuesday that François-Xavier Roger, its Executive Vice President and Chief Financial Officer, would step down from both roles to pursue new opportunities after spending 8 years at the company. Nestlé also said that Anna Manz, who currently serves as Chief Financial Officer and is a member of the Board for the London […]
Read moreMay 30, 2023 7:52 am
According to a report by Bloomberg News, citing sources with knowledge of the matter, Boeing Co is working on a deal to sell 150 737 MAX aircraft to Saudi Arabia’s Riyadh Air. Riyadh Air, which is entirely owned by Saudi Arabia’s Public Investment Fund, is looking for between 300 to 400 single-aisle planes in total, […]
Read moreMay 29, 2023 9:15 am
Tire manufacturer Michelin said last week that it would sell its Russia Tyre Manufacturing Company and Camso CIS in Russia to Power International Tires. The financial details were not disclosed. Under the agreement, some 250 jobs mostly based at the company’s only Russian facility in Davydovo will be preserved. The facility itself employs 750 people […]
Read moreMay 29, 2023 8:01 am
According to a report by Reuters, citing an unidentified knowledgeable source, JPMorgan Chase & Co intends to lay off about 500 employees this month across a number of its divisions. The layoffs are expected to affect people employed across JPMorgan’s main businesses – consumer, commercial banking, asset and wealth management, along with technology and operations. […]
Read moreMay 26, 2023 11:20 am
Spot Gold rebounded from a two-month low on Friday, but was still on track to register a third consecutive week of losses, as market players closely watched the progress of US debt ceiling talks as well as the Federal Reserve’s interest rate hike trajectory. The situation surrounding debt ceiling negotiations between U.S. President Joe Biden […]
Read moreMay 26, 2023 8:59 am
EUR/USD remained pinned near a two-month trough on Friday as investors awaited the outcome of US debt talks, while the common currency was pressured by confirmation that Germany’s economy plunged into a recession during the first quarter. A final GDP estimate showed on Thursday that German economy had contracted at an annualized rate of 0.5% […]
Read moreMay 26, 2023 7:03 am
Loblaw Companies Limited on Thursday announced plans to buy 5 Class 8 T680 hydrogen fuel cell electric vehicles from Kenworth, which have a range of over 700 kilometers. The new vehicles are expected to provide Loblaw with greater flexibility to complete long-haul zero-emission deliveries. The T680 EVs are powered by Toyota fuel cell technology and […]
Read moreMay 25, 2023 8:56 am
According to a report by the Verge on Wednesday, Verizon Communications Inc conducted a meeting with customer service employees to inform them of upcoming “restructuring” and “streamlining” measures, which could lead to significant layoffs. Over 6,000 employees reportedly attended the event, while the consolidation measures could impact far greater numbers. Further details will be disclosed […]
Read moreMay 24, 2023 10:51 am
According to a report by Reuters, citing knowledgeable sources, energy giant Repsol intends to sell a 49% stake in wind farms and photovoltaic power plants across Spain. According to one source, the deal would be valued at between EUR 700 million and EUR 800 million. The renewable plants are operational or near operational and have […]
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