June 27, 2022 10:47 am
Chevron Corp (CVX) is considering a relocation of its global headquarters to a new leased space in California, according to a report by Reuters, citing a spokesperson for Chevron. The oil company is also planning to sell its existing head office in that state. The move to the new site is expected during the third […]
Read moreJune 27, 2022 8:33 am
EUR/USD extended Friday’s gains at the start of the new week ahead of Tuesday’s ECB forum in Sintra, Portugal. Fed Chair Jerome Powell, ECB President Christine Lagarde and Bank of England Governor Andrew Bailey are all expected to make speeches at the event. Meanwhile, the US Dollar continued pulling back from a 20-year peak after […]
Read moreJune 24, 2022 10:52 am
Netflix Inc (NFLX) said on Thursday that it had laid off 300 employees, or approximately 4% of its workforce, in another round of job reductions meant to cut costs after the streaming company lost subscribers for the first time in more than ten years. The decision, which has affected mostly the company’s workforce in the […]
Read moreJune 24, 2022 8:38 am
Volkswagen AG (VOWG) is considering reduction of working hours and wages at its facility in Sao Bernardo do Campo, Brazil, as it struggles with a shortage of auto parts and electronic components for vehicle assembly. Earlier this week, the metalworkers union of Sao Bernardo do Campo said it had agreed to a plan for Volkswagen […]
Read moreJune 23, 2022 10:33 am
Toyota Motor Corp (7203) on Wednesday revised down its global production plan for July by 50,000 vehicles, as chip crunch and pandemic-related parts supply disruptions continued to weigh on output. “As it remains difficult to look ahead due to the shortage of semiconductors and the spread of COVID-19, there is a possibility that the production […]
Read moreJune 23, 2022 8:42 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Thursday, as market players reassessed recession risk and fuel demand amid rising interest rates in developed economies. “Oil markets remained under pressure as investors were concerned that U.S. rate hikes would stall an economic recovery and dampen fuel demand,” […]
Read moreJune 22, 2022 9:26 am
At a conference in Doha on Tuesday, Exxon Mobil’s (XOM) Chief Executive Officer Darren Woods said the oil major was in talks with the US government to speed up the expansion of the Golden Pass LNG project. According to a report by S&P Global Platts, the $10 billion project is expected to begin in 2024. […]
Read moreJune 21, 2022 10:55 am
ABB has once again postponed the planned IPO of its electric vehicle charging business, citing turbulent stock market conditions. “The listing of the business remains an important part of ABB’s strategy. However, recent market conditions have made it challenging to proceed with a planned share offering in the second quarter of 2022,” the Swiss company […]
Read moreJune 21, 2022 8:35 am
AUD/USD extended gains from the prior trading day on Tuesday, after Reserve Bank of Australia Governor Philip Lowe signaled more interest rate hikes in the coming months. Gains, however, seemed limited by concerns over slowing global economic growth. The minutes of RBA’s June meeting, released on Tuesday, revealed the bank’s board had discussed increasing the […]
Read moreJune 20, 2022 10:50 am
Last Friday General Motors Co (GM) raised the price of its Hummer EV pickup truck by $6,250 in an attempt to mitigate the effect of rising commodity and shipping costs as demand for cars and trucks surges. Currently priced within a range of $80,000 to $110,000, GM’s Hummer EV has over 77,500 existing bookings. Yet, […]
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