March 2, 2023 9:15 am
Having gained 0.9% on Wednesday after a surprise inflation acceleration in Germany mounted more pressure on the European Central Bank to raise interest rates, EUR/USD weakened on Thursday, as the greenback drew support from a surge in US Treasury yields. Investors are now expecting the preliminary CPI inflation data for the Euro Area as a […]
Read moreMarch 1, 2023 12:14 pm
Germany’s gas importer Uniper said it had appointed Michael Lewis as its next Chief Executive Officer, amid a strategy overhaul after last year’s bailout. Michael Lewis became part of E.ON’s team in 2007 and has been in a number of executive roles within the company. Lewis has headed E.ON’s UK business for the past 6 […]
Read moreMarch 1, 2023 9:27 am
AMC Entertainment Holdings Inc (AMC) on Tuesday reported a 15% drop in revenue for the fourth quarter and said “the industry-wide box office will not return to pre-pandemic norms before 2024 or 2025 at the earliest.” Persistently high inflation has forced consumers to cut spending on out-of-home entertainment, on one hand, while movie releases remained […]
Read moreFebruary 28, 2023 1:42 pm
Chevron Corp (CVX) on Tuesday revised up its share buyback forecast to between $10 billion and $20 billion per year. Its prior annual buyback target was up to $15 billion. The company also reaffirmed its annual organic capital expenditure forecast of $13 billion to $15 billion through 2027. “Our guidance range is unchanged as affiliate […]
Read moreFebruary 28, 2023 9:20 am
Futures on US West Texas Intermediate Crude Oil surged 1% on Tuesday, underpinned by optimism a strong economic rebound in China will bolster fuel demand. However, WTI Crude Oil Futures looked set to register a fourth consecutive month of losses, being down 4.56% so far in February. Expectations over Chinese oil demand recovery supported the […]
Read moreFebruary 27, 2023 11:17 am
Finland’s Nokia said on Monday that it has been selected by MTN South Africa for the first time ever as one of its 5G Radio Access Network equipment providers. Under the agreement, Nokia will modernize the existing 2G/3G/4G radio network and expand MTN’s 5G radio network across 2800 sites in the central and eastern regions […]
Read moreFebruary 27, 2023 9:27 am
Europe’s largest arms electronics provider, Thales (TCFP), intends to hire 12,000 new employees in 2023 amid a strong demand across the group’s product range. Thales Chief Executive Officer Patrice Caine told France’s Le Journal du Dimanche that the company had hired 5,000 to 8,000 people per year over the past 8 years, while new hires […]
Read moreFebruary 24, 2023 12:01 pm
Ford Motor Co said on Thursday that it had appointed Sam Wu, who currently serves as managing director and COO of Ford China, as President and CEO of the business. The appointment will take effect on March 1st. Wu will take over from Anning Chen, who will part ways with the company on October 1st, […]
Read moreFebruary 24, 2023 9:49 am
The Federal Aviation Administration (FAA) said on Thursday that Boeing Co’s deliveries of the 787 Dreamliner had been temporarily halted, as the US jet maker conducts additional analysis on a fuselage component. The US company said in reviewing certification records that it “discovered an analysis error by our supplier related to the 787 forward pressure […]
Read moreFebruary 23, 2023 12:07 pm
Starbucks announced the launch of a new drink, a mix between coffee and olive oil, which will initially be offered at its Italian stores. Named “Oleato”, the new beverage is made with arabica coffee “infused with a spoonful of Partanna cold pressed, extra virgin olive oil,” the coffee chain said in a statement. Depending on […]
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