May 27, 2022 8:33 am
Southwest Airlines Co (LUV) on Thursday provided upbeat revenue forecast for the current quarter due to robust travel demand, despite concerns that a surge in inflation may curb consumer spending. The company said it now expected a 12% to 15% increase in current-quarter operating revenue compared to pre-pandemic levels. Previously, it had forecast an 8% […]
Read moreMay 26, 2022 10:00 am
Apple Inc (AAPL) said on Wednesday that it would raise the starting pay for its employees in the United States amid a tight labor market and a surge in unionization efforts. Apple’s US team members will now receive starting pay of $22 per hour or higher based upon the market, which is a 45% increase […]
Read moreMay 26, 2022 7:50 am
Xperi Holding Corporation (XPER) said on Wednesday that it had appointed Paul Davis as Chief Executive Officer of Adeia, Xperi’s intellectual property business. The appointment will become effective once the separation of Adeia as a stand-alone company is completed during the fall. Prior to spinoff, Davis is to serve as the President of Adeia, while […]
Read moreMay 25, 2022 10:14 am
Best Buy Co Inc (BBY) on Tuesday revised down its full-year earnings forecast, as it became another major US retailer to warn of an inflation impact. Best Buy’s comparable sales shrank 8% year-on-year during the first quarter ended on April 30th, but outstripped market expectations of a 9.1% decline. The company now expects a 3% […]
Read moreMay 25, 2022 9:08 am
NZD/USD surged to a fresh three-week high on Wednesday after the Reserve Bank of New Zealand raised its official cash rate by 50 basis points to 2.0% at its May meeting, in line with market expectations. It has also been the fifth RBNZ rate hike in a row. What bolstered the kiwi dollar was a […]
Read moreMay 23, 2022 10:44 am
Hyundai Motor Group (005380) said over the weekend that it intended to invest additional $5 billion in the United States by 2025, as it seeks to bolster collaboration with US companies in advanced technology. The group’s investments will focus on areas such as robotics, urban air mobility, autonomous driving and artificial intelligence. The third-largest auto […]
Read moreMay 23, 2022 9:18 am
Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Monday, supported by US fuel demand, tight supply and a softer US Dollar, while Shanghai is due to reopen on June 1st after a two-month lockdown that had raised concerns over a sharp growth slowdown. “Oil prices are supported […]
Read moreMay 20, 2022 11:09 am
Singapore Airlines Ltd’s (SIAL) Chief Executive Officer said on Thursday that the air carrier’s growth plans would probably not be heavily impacted by Boeing Co’s delivery date delay for its first 777X jets. In April, the US plane maker said its customers would receive the first 777X jet in 2025, compared with a previous target […]
Read moreMay 20, 2022 8:52 am
Ford Motor Co (F) announced on Thursday the recall of 39,000 SUVs after it received reports of 16 fires. The US auto maker also advised SUV owners to park their vehicles outdoors and at a distance from structures. The recall will affect some 2021 Ford Expedition and Lincoln Navigator models. The move came as an […]
Read moreMay 19, 2022 10:44 am
Stellantis’ regional sales chief said earlier this week the auto maker would begin a reshuffle of its European dealers’ network in 2023 from Austria, Belgium and the Netherlands, as well as its van and premium brands in all markets. Under the plan, Stellantis’ distribution structure in Europe will be shifted towards an “agency model”. This […]
Read more
