March 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 […]
Read moreMarch 20, 2023 9:39 am
According to a board member of Volkswagen-owned Skoda, the company will need to cut 3,000 jobs and slash some models if the European Union implements the “Euro 7” emissions scheme in its current form. The proposed Euro 7 legislation, which is to be negotiated this year, will tighten limits on the vehicles’ emission of health-harming […]
Read moreMarch 17, 2023 11:19 am
Dollar General Corp’s (DG) fourth-quarter same-store sales and profit, reported on Thursday, fell short of market expectations, since the company grappled with rising costs and lower customer traffic at its more than 18,700 stores. According to the store chain, regardless of a “modest decrease in customer traffic” during the latest quarter, the average transaction amount […]
Read more
