June 15, 2023 10:18 am
Unilever said this week it had entered into an agreement to buy Yasso Holdings Inc – a premium frozen Greek yogurt brand in the US. However, the terms of the agreement remained undisclosed. The acquisition is aligned to the premiumization strategy of Unilever’s Ice Cream Business Group, it said. Established in Boston in 2009 by […]
Read moreJune 15, 2023 8:32 am
According to a Volkswagen spokesperson, the company’s passenger car brand is set to implement savings and cost-cutting measures at the amount of EUR 10 billion by 2026 in order to achieve a return on sales of 6.5%. The person noted that it was not yet certain how the EUR 10 billion saved would be allocated. […]
Read moreJune 14, 2023 11:05 am
General Motors Co (GM) and Samsung SDI are set to establish an over $3 billion electric vehicle battery cell manufacturing facility in Indiana, which is expected to initiate production in 2026. Located near New Carlisle, Indiana, the plant is meant to have a production capacity of 30 gigawatt hours per year. The facility, which will […]
Read moreJune 14, 2023 8:44 am
EUR/USD traded not far from recent three-week peak, as surprisingly soft US CPI inflation report reinforced prospects that the Federal Reserve would probably abstain from raising interest rates later on Wednesday. US consumer price inflation slowed down to 4% in May, or the lowest annual level since March 2021, data by the Bureau of Labor […]
Read moreJune 13, 2023 9:24 am
Pernod Ricard’s Corby Spirit and Wine is set to purchase a 90% stake in Ace Beverage Group at an enterprise value of CAD 165 million, the company said on Tuesday. Founded in 2020 via the merger of Cottage Springs and Ace Hill, Ace Beverage Group has already become a leader in Canada’s ready-to-drink (RTD) market. […]
Read moreJune 13, 2023 8:22 am
Germany’s largest defense contractor Rheinmetall (RHMG) could see a further increase to its stock market value because of the war in Ukraine and higher defense spending in Europe. “Our operating income in 2025 should be about 1.5 billion euros ($1.6 billion), maybe even 1.7 billion euros. For a fair valuation, multiply that with a factor […]
Read moreJune 12, 2023 8:59 am
Spot Gold traded mostly little changed at the start of the week amid investor caution ahead of the key US inflation data and the outcome of the Federal Reserve’s policy meeting. Markets are currently pricing in a 74% chance that the US central bank will keep the target range for the federal funds rate unchanged […]
Read moreJune 12, 2023 7:50 am
23andMe Holdings Inc (ME) said in a SEC filing dated June 9th that it intended to reduce its workforce by roughly 9%, or 75 employees. 23andMe Holdings said the move aimed ”to restructure and strategically align our workforce with the Company’s strategy and to reduce the Company’s operating costs.” It also said it expected to […]
Read moreJune 9, 2023 9:38 am
Lucid Group Inc (LCID), backed by Saudi Arabia’s Public Investment Fund, said this week it was preparing an entry in China’s auto market. According to a report by Reuters, citing an unidentified source with knowledge of the matter, the luxury electric vehicle maker intends to sell imported cars in China and is also considering producing […]
Read moreJune 9, 2023 8:14 am
GXO Logistics Inc said on Thursday that it was initiating a multi-year plan to significantly expand its operations in Germany. In the initial phase, the company intends to invest in a new, 387,000 square foot, state-of-the-art warehouse in Dormagen – an essential logistics location in Dusseldorf. The Dormagen facility is expected to be a launchpad […]
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