March 27, 2023 10:52 am
France’s Credit Agricole said on Monday that it had expanded its investment banking operations in China, while launching a new unit. Named Credit Agricole (Beijing) Advisory Services, the unit began operations on March 10th and is led by Huai Yang, the bank said. The new unit will specialize in cross-border merger and acquisition activities, covering […]
Read moreMarch 27, 2023 8:56 am
According to a Wall Street Journal report, citing sources, Rivian Automotive Inc plans to relocate parts of its manufacturing engineering team to Illinois, as the company seeks to accelerate production. Under the reorganization, employees who work on manufacturing engineering will be asked to relocate to Normal, Illinois, or to Rivian Automotive’s headquarters in Irvine, the […]
Read moreMarch 24, 2023 11:33 am
Electrical aircraft developer Joby Aviation Inc (JOBY) on Friday appointed Michael Huerta, former Federal Aviation Administration head, to its board of directors. Between 2013 and 2018, Huerta was FAA administrator, while before that he served as deputy administrator for 3 years. In 2018, Huerta was also appointed to the board of Delta Air Lines. According […]
Read moreMarch 24, 2023 9:58 am
Spot Gold was a notch weaker on Friday, trading within a narrow range, as the US Dollar bounced off a seven-week trough, while market players mulled US Federal Reserve’s indications of a potential pause in its policy tightening cycle. The yellow metal, which does not pay any interest, remained at levels not far from recent […]
Read moreMarch 23, 2023 11:21 am
Porsche SE said on Thursday that it sought to bolster its net liquidity to between minus EUR 6.1 billion and EUR 5.6 billion by the end of 2023 after it acquired an equity stake in Porsche AG last year. Porsche said it had proposed a dividend of EUR 2.56 per preference share and EUR 2.554 […]
Read moreMarch 23, 2023 9:32 am
Amazon.com Inc (AMZN) on Wednesday increased the minimum starting wage for its UK employees by up to 50 pence to between GBP 11 and GBP 12 per hour. Yet, the move has faced discontent from the company’s union. The raise came after a pay-related worker walkout at an Amazon warehouse in Coventry less than a […]
Read moreMarch 22, 2023 11:48 am
Speaking at the Financial Times Commodities Global Summit on Wednesday, Christophe Salmon, Trafigura’s Chief Financial Officer, noted that the recent bank shares rout would not cause a knock-on effect on Commodities. “On banks’ appetite for trading firms, let’s not forget trading firms give banks a lot of business opportunities from hedging to trade finance, M&A […]
Read moreMarch 22, 2023 10:06 am
The Play version of PDD Holdings Inc’s Pinduoduo application has been suspended by Alphabet Inc’s Google due to security concerns, after malware issues were discovered on versions of the app outside Google’s app store, the tech giant said this week. Google Play Protect scans Android-based devices with Google Play Services for applications that could potentially […]
Read moreMarch 21, 2023 10:05 am
AUD/USD came off recent two-week high on Tuesday, after the minutes of the Reserve Bank of Australia’s latest policy meeting showed the central bank would reconsider the case for a pause next month to reassess macroeconomic conditions. RBA policy makers said monetary policy in Australia was already in restrictive territory amid an uncertain economic outlook […]
Read moreMarch 20, 2023 10:53 am
Oil and gas producer Okea announced on Monday that it had agreed to acquire a 28% stake in Norway’s Statfjord production licence from state-controlled Equinor for $220 million. “In addition, the agreement contains contingent payment terms applicable for 2023-25 for certain thresholds of realised oil and gas prices,” the company said in a statement, cited […]
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