July 12, 2022 8:33 am
The common currency extended losses against the US Dollar on Tuesday and came another step closer to parity due to concerns an EU energy crisis could drive local economies towards recession. At the same time, the greenback continued to be underpinned by expectations of more aggressive interest rate hikes by the Federal Reserve compared to […]
Read moreJuly 11, 2022 10:30 am
Ford Motor Co (F) reported its weakest quarterly vehicle sales in China since the beginning of the COVID-19 pandemic amid resurging virus infections in the country and continuing global supply chain disruptions. The auto maker sold 120,000 vehicles during the second quarter, or a nearly 22% drop compared to the same period a year ago. […]
Read moreJuly 11, 2022 8:55 am
Safe-haven flows stemming from global growth concerns drove the US Dollar to a fresh 20-year peak against its major peers last Friday, while the US currency traded within striking distance from that level on Monday. The Dollar Index was gaining 0.65% on the day to 107.593, after climbing as high as 107.786 on Friday – […]
Read moreJuly 8, 2022 9:37 am
BMW (BMWG) sold 13.3% fewer vehicles during the first half of 2022 compared to the first six months of 2021 amid semiconductor shortages and China lockdowns. The German auto maker delivered 1.16 million BMWs, Mini cars and Rolls-Royces from January to June this year, it said on Friday. BMW’s vehicle sales decreased almost 20% in […]
Read moreJuly 8, 2022 7:07 am
Against the backdrop of rising inflation, total aggregated Bank of America (BAC) credit and debit card spending increased 11% year-on-year in June, following a 9% surge in May and a 13% increase in April, the Wall Street bank said on Thursday. Credit card spending surged 16% year-on-year and debit card spending rose 6% year-on-year in […]
Read moreJuly 7, 2022 10:47 am
NextDecade Corp (NEXT) said it had inked a long-term agreement, involving the supply of liquefied natural gas to China Gas Hongda Energy Trading from its Rio Grande LNG export project in Texas. Under the 20-year sale and purchase agreement (SPA), China Gas will be provided with 1 million metric tonnes of LNG per year. The […]
Read moreJuly 7, 2022 8:41 am
Futures on US West Texas Intermediate Crude Oil regained some ground on Thursday after a sharp decline in the prior two trading days, as market players again turned their attention to tight supply despite global recession risks. Commodities and other risk-sensitive assets have been under pressure in recent weeks, as rising interest rates across the […]
Read moreJuly 6, 2022 11:02 am
Amazon (AMZN) said this week it had agreed to acquire a 2% stake in Just Eat Takeaway.com’s US meal delivery business, Grubhub, and that its Prime members would be granted access to the service for 1 year. Under the agreement, announced as part of Amazon’s July “Prime Day” promotion Wednesday, Amazon clients will be able […]
Read moreJuly 6, 2022 8:35 am
Xos Inc (XOS), a fleet services provider and manufacturer of Class 5 through Class 8 battery-electric vehicles, said on Tuesday that it had delivered four of its 100% battery-electric vehicles to Loomis, a cash-handling company across North America. “Building on a strong existing relationship, we are pleased to deliver additional vehicles to Loomis, a leading […]
Read moreJuly 5, 2022 9:21 am
AUD/USD remained pressured near the two-year low from last week even after the Reserve Bank of Australia raised interest rates for a third consecutive month at its policy meeting earlier on Tuesday and signaled further tightening ahead in an attempt to bring surging inflation back under control. The RBA raised its cash rate by 50 […]
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