August 11, 2022 7:59 am
Having risen over 1% yesterday, futures on US West Texas Intermediate Crude Oil edged lower on Thursday, as investors weighed easing supply disruption concerns against proof of improving fuel demand. The official report by the US Energy Information Administration (EIA) showed on Wednesday gasoline inventories had decreased by 4.978 million barrels to 220.3 million barrels […]
Read moreAugust 10, 2022 9:48 am
Ford Motor Co (F) said earlier this week it would hike the prices of its electric F-150 Lightning pickup, as the company faces soaring raw material costs. The prices of Ford’s 2023 model F-150 lightning will be raised by between $6,000 and $8,500, depending on the variant. The price of the cheapest Pro model is […]
Read moreAugust 9, 2022 11:59 am
Sandvik AB said on Monday it had signed and completed an agreement to buy 100% of the equity interests in Swiss firm Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG. Founded in 1994 and having nearly 115 employees, Sphinx Tools will be reported within Sandvik Coromant, a division within Sandvik Manufacturing […]
Read moreAugust 9, 2022 9:00 am
Despite operational hurdles and decade-high inflation, the airline industry has seen sizable improvement in international travel demand and major air carriers have returned to profitability. Many airlines saw their revenue at levels near or even above those before the COVID-19 pandemic in the second quarter and are rather optimistic about their Q3 and Q4 performance. […]
Read moreAugust 9, 2022 8:35 am
After a 1% surge during the previous trading day, AUD/USD was a notch weaker on Tuesday, as investors were expecting the latest CPI inflation report from the US, wary of a surprising figure that could reinforce the case of more interest rate hikes. Yet, since prior CPI reports led to mixed moves within the Forex […]
Read moreAugust 8, 2022 11:02 am
Shipping giant A.P. Moller-Maersk said last week it had agreed to acquire Danish logistics firm Martin Bencher Group in a deal estimated at $61 million. “Martin Bencher will be an excellent fit to Maersk and our integrator strategy, strengthening our ability to provide project logistics services to our global clients. When Martin Bencher joins the […]
Read moreAugust 8, 2022 8:13 am
USD/JPY extended gains from last Friday and hit a fresh one-week high on Monday, after robust US employment data reinforced market expectations of a more aggressive monetary policy tightening from the Federal Reserve. Employers in all sectors of US economy, excluding the farming industry, added 528,000 job positions in July, or the most since February, […]
Read moreAugust 5, 2022 10:05 am
Yesterday Richard Branson’s Virgin Galactic Holdings Inc (SPCE) once again postponed the commercial launch of its space flight to the second quarter of 2023 from Q1. In May, the company had delayed the launch to the first quarter of 2023, while citing labor shortage and supply-chain disruptions. “While our short-term plans now call for commercial […]
Read moreAugust 5, 2022 7:48 am
Kellogg Co (K) on Thursday revised up its full-year sales and profit forecasts and reported higher-than-expected quarterly sales, as its pricier breakfast cereals and snacks helped it overcome higher costs of freight, labor and ingredients. Net sales went up to $3.86 billion during the quarter ended on July 2nd from $3.56 billion in the year-ago […]
Read moreAugust 4, 2022 10:58 am
The New York Times Co (NYT) on Wednesday forecast lower advertising revenue for the third quarter, as brands trimmed ad spending in light of rising interest rates, decade-high inflation and foreign exchange headwinds. Total revenue came in at $555.7 million in the quarter ended June 26th, up from $498.5 million in the year-ago period. The […]
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