December 7, 2022 10:43 am
According to BlackRock Inc’s Chief Financial Officer Gary Shedlin, the asset manager has frozen most hiring as it seeks to reduce expenses. At a financial conference hosted by Goldman Sachs, Shedlin said the measures were expected to place BlackRock in a better position in 2023. The CFO noted the company had faced some weakness in […]
Read moreDecember 7, 2022 9:01 am
Trinity Capital Inc, a provider of diversified financial solutions to growth-stage companies, said on Tuesday that it had entered into an agreement to co-manage a newly formed joint venture, i40 LLC, with certain funds and accounts managed by a specialist credit manager that has more than $5 billion of assets under management. The initial capital […]
Read moreDecember 6, 2022 12:13 pm
According to a Xinhua report, Tesla Inc (TSLA) sold 100,291 China-produced electric vehicles in November, which marked its highest monthly sales since the opening of the company’s Shanghai plant in late 2020. That figure represents a 40% surge compared to October sales numbers and a 90% increase compared to November 2021, after the electric car […]
Read moreDecember 6, 2022 10:02 am
AUD/USD recouped part of yesterday’s losses on Tuesday, after the Reserve Bank of Australia lifted its cash rate to a decade-high and stuck with guidance of further policy tightening, while quashing any view it was nearing a hike pause. The RBA raised its cash rate by 25 basis points to 3.1% at its December policy […]
Read moreDecember 5, 2022 11:02 am
BYD Co’s Japan unit said earlier today that it planned to begin selling its first battery electric vehicles in the country early in 2023. BYD said it would introduce an electric sport-utility vehicle, ATTO 3, with a driving range of 485 kilometers, in Japan as early as January 31st. The vehicle will cost JPY 4.4 […]
Read moreDecember 5, 2022 8:58 am
Exxon Mobil Corp (XOM) said last Friday that Lawrence “Larry” Kellner and John Harris had been appointed to its Board of Directors. Currently, Kellner serves as Chairman of the Board of Directors for Boeing Company. He is also President of Emerald Creek Group LLC, a Texas-based private equity company. From December 2004 to December 2009, […]
Read moreDecember 2, 2022 9:35 am
Spot Gold was set to register its best weekly performance in three weeks, as the US Dollar eased on expectations of slower rate hikes by the Federal Reserve. The US Dollar Index was set for a weekly loss of 1.5%, as expectations that a peak in interest rates could be near weighed on its demand. […]
Read moreDecember 1, 2022 10:45 am
Honda Motor Co Ltd said earlier this week it would develop technology, which will allow its Level 3 self-driving solution to operate at any speed below legal limits on highways by the end of this decade. Level 3 is also known as conditional driving automation. It uses technology allowing drivers to engage in certain activities […]
Read moreDecember 1, 2022 8:15 am
National Bank of Canada, the sixth-largest lender in the country, on Wednesday reported a drop in profit for its fiscal fourth quarter, since the bank set aside higher provisions in the face of a recession. National Bank of Canada reported CAD 87 million in provisions for the three months ended on October 31st, up from […]
Read moreNovember 30, 2022 12:35 pm
Swedish fashion retailer Hennes & Mauritz said on Wednesday that it expected to cut 1,500 jobs as part of its cost-saving program it had announced in September. As a result, the company expects to take a restructuring charge of a bit over SEK 800 million in its fiscal fourth quarter, which runs from September 1st […]
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