August 4, 2022 7:42 am
Futures on US West Texas Intermediate Crude Oil hovered just above a fresh 23-week low on Thursday following an unexpected increase in US crude oil and gasoline stocks last week. The official report by the US Energy Information Administration (EIA) showed on Wednesday crude oil inventories had increased by 4.467 million barrels during the week […]
Read moreAugust 3, 2022 10:46 am
Nintendo Co Ltd (7974) on Wednesday reported a 22.9% year-on-year decrease in Switch console sales during the April-June quarter, while citing a persistent chip shortage. Regardless of that, the Kyoto-based gaming company stuck to a forecast to sell 21 million Switch consoles during the fiscal year through end-March 2023, as demand remains stable in all […]
Read moreAugust 3, 2022 8:45 am
Ferrari reported record orders and higher-than-anticipated earnings during the second quarter and also revised up its full-year profit forecast, as the Portofino M and F8 family models drove revenue. Second-quarter shipments went up 4% year-on-year in the latest quarter, as deliveries to China more than doubled to 358 vehicles. According to Ferrari, hybrid models accounted […]
Read moreAugust 2, 2022 9:09 am
AUD/USD retreated sharply from recent 1 1/2-month peak on Tuesday, as market players trimmed bets on how far and how fast interest rates in Australia would ultimately rise. The Reserve Bank of Australia (RBA) raised its cash rate by 50 basis points to 1.85% at its policy meeting earlier today, in line with expectations, while […]
Read moreAugust 1, 2022 10:59 am
Schwab Asset Management, the asset management division of The Charles Schwab Corporation, said on Friday it would launch the Schwab Crypto Thematic ETF on or about August 4th. The ETF will track Schwab Asset Management’s new proprietary index, the Schwab Crypto Thematic Index, and will provide investors with global exposure to companies that may draw […]
Read moreAugust 1, 2022 9:04 am
USD/JPY registered a fresh six-week trough on Monday, as market players continued betting on less aggressive policy tightening by the Federal Reserve amid risks of recession. “U.S. interest rate expectations appear to have peaked (for now) in June,” Jefferies strategists wrote in a research note, cited by Reuters. “On all our measures, the dollar appears […]
Read moreJuly 29, 2022 10:01 am
French auto maker Renault SA (RENA) on Friday revised up its full-year margin forecast, as the company’s turnaround plan, focused on profitability over sales volumes, has begun to deliver results. Renault’s operating margins in the first six months of 2022 stood at 4.7%, compared with 2.1% in the same period of 2021. The company now […]
Read moreJuly 29, 2022 8:22 am
Panasonic Holdings Corp (6752) on Thursday reported a 39% slump in its fiscal first-quarter profit, as results were heavily affected by COVID-19-related lockdowns in China and surging costs of materials, all of which disrupted production. The company’s operating profit dropped to JPY 63.7 billion ($471 million) during the three months to June 30th, while falling […]
Read moreJuly 28, 2022 10:42 am
Swedish music streaming firm Spotify on Wednesday reported higher-than-expected revenue for the second quarter, as results were underpinned by a 14% growth in paying subscribers. Total revenue rose 23% year-on-year to EUR 2.9 billion ($2.94 billion), while outstripping a consensus of analyst estimates of EUR 2.8 billion. The number of premium subscribers, from whom Spotify […]
Read moreJuly 28, 2022 8:44 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Thursday amid improved investor risk sentiment and following a large drop in US crude oil stocks last week. “Risk sentiment has recovered from recession fears due to the ongoing U.S. earnings optimism and less aggressive Fed rhetoric on rate […]
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