December 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 […]
Read moreNovember 30, 2022 9:30 am
ExteNet Systems, a leading privately held owner of LTE/5G wireless and fiber neutral-host communications infrastructure, and T-Mobile on Tuesday announced an exclusive agreement, under which ExteNet will deploy digital wireless infrastructure in large sports, entertainment, hospitality and transportation venues. This agreement expands ExteNet’s existing partnership with T-Mobile as a primary wireless carrier in its contracted […]
Read moreNovember 29, 2022 11:37 am
Coffee maker Lavazza has made a binding offer to buy France’s MaxiCoffee, it said on Monday, as it seeks to bolster its presence in the second-largest European economy as well as in e-commerce. “Our strategy is to support the further development of MaxiCoffee, which will maintain its profile as a multi-brand e-commerce platform and remain […]
Read moreNovember 29, 2022 9:00 am
Bread Financial Holdings Inc, a tech-forward financial services company that provides flexible payment, lending and saving solutions, said on Monday that it had formed a partnership with Versatile Credit Inc, a provider of innovative solutions linking bank lenders with consumers who apply for credit in retail stores. Under the tie-up, by using Versatile Credit’s platform, […]
Read moreNovember 28, 2022 11:29 am
According to a Monday report by the news service Dailian, citing an unidentified source, Hyundai Motor Co and LG Energy Solution Ltd are planning to establish two joint venture battery plants in the United States. The two facilities are expected to be set up in Georgia and each will have an annual capacity of about […]
Read moreNovember 28, 2022 9:57 am
AUD/USD, a liquid proxy for risk, retreated over 0.7% on Monday, as market sentiment was roiled by protests in China against the government’s zero-COVID policy, which underpinned the safe-haven US Dollar. Following an apartment fire that led to the death of 10 people in Urumqi, the capital of China’s Xinjiang Uyghur Autonomous Region, hundreds of […]
Read moreNovember 25, 2022 11:04 am
Futures on US West Texas Intermediate Crude Oil rose 2% on Friday, as investors were weighing concerns over China demand and developments surrounding a Western price cap on Russian oil. According to Virendra Chauhan, head APAC analyst at Energy Aspects, concerns over Chinese oil demand, thin market liquidity as well as assessments over how severe […]
Read moreNovember 24, 2022 12:28 pm
Ford Motor Co, the second-largest auto maker by sales in the US, said on Thursday that it would recall nearly 519,000 sport utility vehicles in the country due to fire risks from possible cracked fuel injectors. The recall will affect Bronco Sport and Escape SUVs equipped with 3 cylinder, 1.5 liter engines, produced between 2020 […]
Read moreNovember 24, 2022 8:57 am
Richardson Electronics Ltd (RELL) said on Wednesday it had inked a global distribution deal with Gallium Semiconductor. Headquartered in Singapore, Gallium Semiconductor is an innovative provider of RF Gallium Nitride (GaN) semiconductor solutions for 5G communication networks along with aerospace, defense, industrial, scientific and medical applications. “Gallium Semi’s portfolio of GaN products offer exceptional performance […]
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