October 20, 2022 10:57 am
Citizens Financial Services Inc (CZFS), the holding company for First Citizens Community Bank, and HV Bancorp Inc (HVBC), the holding company for Huntingdon Valley Bank, said on Wednesday that they had entered into a definitive agreement under which HVBC will merge with CZFS. Under the agreement, HV Bancorp’s shareholders will have the right to elect […]
Read moreOctober 20, 2022 9:45 am
BMW AG (BMWG) announced on Wednesday that it planned to invest $1.7 billion in electric vehicle production in the United States, as it aims to offer at least 6 fully electric models by 2030. The car manufacturer said it would make a new $1 billion investment in its Spartanburg, South Carolina facility in preparation for […]
Read moreOctober 19, 2022 9:03 am
Tesla Inc (TSLA) reported the most registrations of battery-electric vehicles in Germany during the first nine months of 2022 – about 38,500, as it outpaced the Volkswagen (VOWG) brand by over 6,000 vehicles. Tesla’s battery-electric vehicle registrations were almost 50% more compared to the January-September period of 2021, while Volkswagen’s registrations were 40% fewer to […]
Read moreOctober 18, 2022 11:50 am
Lyft Inc said on Monday that it would raise the service fee, which its US riders pay directly to the company, so that it could cover rising insurance costs. “Lyft is facing insurance inflation pressures and we’ve nominally increased service fees to help offset these costs,” a spokesperson for the company said. The latest data […]
Read moreOctober 18, 2022 8:55 am
AUD/USD extended a rebound from last week’s 30-month trough on Tuesday, after Reserve Bank of Australia’s Deputy Governor Michele Bullock said the central bank would raise interest rates further during the upcoming months and it could keep up with the tightening cycle of its peers across the globe with more frequent, smaller rate increases. Meanwhile, […]
Read moreOctober 17, 2022 11:05 am
According to a report by Reuters, citing sources with knowledge of the matter, Broadcom will seek early antitrust approval from the European Union of its proposed $61 billion acquisition of cloud computing company VMware, as the US chip maker pointed to competition from Amazon, Microsoft as well as Google. The deal, which was announced in […]
Read moreOctober 17, 2022 9:04 am
Having reached a 32-year peak of 148.86 last Friday on firm US Dollar and surging US Treasury yields, the USD/JPY pair was trading just below that level at the start of the new week. The Japanese currency remains at risk of depreciating further to the psychological level of 150, which market players believe may prompt […]
Read moreOctober 14, 2022 10:33 am
Futures on US West Texas Intermediate Crude Oil were on track to register their first loss in three weeks, as global recession concerns and weak Chinese oil demand offset the positive effects from a softer US Dollar and a huge cut to the OPEC+ oil production target. Yesterday the International Energy Agency (IEA) revised down […]
Read moreOctober 14, 2022 8:12 am
Volkswagen’s software unit Cariad said on Thursday that it would spend more than $2 billion and acquire a 60% stake in a new joint venture with Chinese technology company Horizon Robotics. The unit will invest $1 billion in Horizon Robotics and additional $1.26 billion in the joint venture, Volkswagen said, and the transaction is expected […]
Read moreOctober 13, 2022 7:40 am
Roku Inc (ROKU) and Walmart (WMT) said on Wednesday that Roku’s new suite of smart home products, including security cameras, video doorbells, lighting and plugs, was about to be launched. The smart home devices will be available exclusively in almost 3,500 Walmart stores, starting October 17th. When launched, Roku TV Operating System integration will enable […]
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