April 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 […]
Read moreMarch 31, 2023 9:03 am
Futures on US West Texas Intermediate Crude Oil edged down on Friday as optimism over China demand along with potential supply disruptions in Iraq was countered by uncertainty regarding US macro data due out later today. China’s industrial activity has become a major driver of oil prices in recent weeks. The country’s manufacturing sector activity […]
Read moreMarch 30, 2023 11:00 am
Aerospace and defense company BAE Systems and Swedish electric airplane maker Heart Aerospace on Thursday announced a collaboration to develop the battery system for Heart’s ES-30 regional electric jet. The battery will be the first-of-its-kind to be integrated into an electric conventional takeoff and landing regional aircraft, the companies said. The ES-30 jet will be […]
Read moreMarch 30, 2023 8:36 am
Petrofac Ltd (PFC) said on Thursday it and Hitachi Energy had been awarded a EUR 13 billion multi-year framework agreement by electricity grid operator TenneT to supply offshore platforms and onshore converter stations. The agreement is part of TenneT’s 2 gigawatt high-voltage direct current offshore wind programme in the North Sea. The deal encompasses 6 […]
Read moreMarch 29, 2023 10:56 am
Indiana American Water said this week it had agreed to acquire the Claypool water system in northern Indiana. The acquisition will add nearly 150 water customers to the company’s client base, which represents a population of over 400 residents, it said. Approved by the Indiana Utility Regulatory Commission in February, the deal was estimated at […]
Read moreMarch 29, 2023 8:19 am
Lucid Group Inc (LCID) said this week it would lay off about 1,300 people, or nearly 18% of its workforce, as part of a restructuring plan. Lucid Group’s Chief Executive Officer Peter Rawlinson said the company would communicate with all its employees over the upcoming days about the plan. The EV maker’s US workforce will […]
Read moreMarch 28, 2023 9:30 am
USD/JPY edged lower on Tuesday, as concerns over a full-blown banking crisis seemed to have diminished, curbing safe haven demand. The Japanese Yen firmed strongly, driven mostly by flows associated with the end of Japan’s fiscal year on Friday. According to Kristina Clifton, analyst at Commonwealth Bank of Australia, Japanese banks may seek USD funding […]
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