April 9, 2023 12:00 pm
First Republic Bank (FRC) said in a regulatory filing this week payments of quarterly cash dividends on its preferred stock would be suspended “as a measure of prudent oversight.” In March, First Republic suspended dividends on its common stock following Silicon Valley Bank’s failure. Also last month, major US lenders poured $30 billion in deposits […]
Read moreApril 7, 2023 9:53 am
According to a report by the Financial Times, global investment firm KKR is approaching a deal to acquire a large stake in FGS Global that will value the latter at nearly $1.4 billion. FGS Global is backed by advertising group WPP. According to the report, KKR may acquire over 30% of FGS Global from a […]
Read moreApril 6, 2023 10:26 am
Lumentum Holdings Inc said this week it now expected revenue for its fiscal third quarter to be within the range of $380 million to $384 million. Previously, the company had forecast revenue in the range of $430 million to $460 million. “Late in our fiscal 2023 third quarter, a network equipment manufacturer who represented more […]
Read moreApril 6, 2023 8:01 am
Deutsche Telekom (DTEGn) now has a majority stake in T-Mobile U.S., Deutsche Telekom’s Chief Executive Officer Tim Höttges said during the company’s annual general meeting. “We have the majority and are the largest shareholder of the world’s most valuable telecommunications company – T-Mobile U.S.,” Höttges said. The value of T-Mobile U.S. has surged by EUR […]
Read moreApril 5, 2023 10:26 am
Walmart Inc (WMT) said this week it expected 65% of its stores to be serviced by automation by the end of fiscal year 2026. The announcement came several days after the retail chain disclosed plans to lay off over 2,000 people at facilities fulfilling online orders. Nearly 55% of packages processed through Walmart’s fulfillment centers […]
Read moreApril 5, 2023 7:19 am
According to the latest data by the China Passenger Car Association, Tesla Inc (TSLA) delivered 88,869 units of its China-made Model 3 and Model Y electric vehicles in March for both domestic sales and exports. That figure represents a 19.4% surge compared to February sales numbers and a 35% increase compared to March 2022. Tesla’s […]
Read moreApril 4, 2023 8:55 am
AUD/USD retreated from a 1 1/2-month high on Tuesday, as the Reserve Bank of Australia held borrowing costs steady after delivering 10 consecutive rate hikes. The RBA left its cash rate without change at 3.60% at its April policy meeting earlier on Tuesday, in line with market expectations. This marked the first pause in the […]
Read moreApril 3, 2023 10:10 am
UniCredit is expected to begin the first tranche of a share repurchase programme on Monday after receiving regulatory approval last week. The financial group hired BNP Paribas to buy back up to EUR 2.34 billion of shares, or 12% of UniCredit’s capital, while repurchases are expected to be completed by the end of June. Last […]
Read moreApril 2, 2023 2:02 pm
According to a report by Switzerland’s Tages-Anzeiger over the weekend, citing a senior UBS executive, the bank formed after UBS Group’s takeover of Credit Suisse is set to cut its workforce by 20% to 30%. Nearly 11,000 jobs in Switzerland could be eliminated, the report stated. Jobs in the group’s US investment banking arm could […]
Read moreApril 1, 2023 1:09 pm
Chinese smart electric vehicle maker XPeng Inc said on Saturday that it had delivered as many as 7,002 vehicles in the month of March. That translated into a 17% surge compared to February. The company’s total vehicle deliveries for the first quarter of the year stood at 18,230 units. XPeng’s new sports sedan P7i, which […]
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