April 6, 2022 9:10 am
Ingka Group, which owns the majority of IKEA stores across the globe, has purchased 9 solar photovoltaic park projects in Germany and Spain for a total value of EUR 340 million in an attempt to bolster renewable energy generation. The projects, which would have a combined capacity of 440 megawatts, will be acquired from Germany’s […]
Read moreApril 6, 2022 7:34 am
The compensation package for David Baszucki, the founder and Chief Executive Officer of gaming platform Roblox Corp (RBLX), stood at $232.8 million in 2021, compared with $6.8 million a year ago. According to a Roblox regulatory filing, a major part of the pay package was comprised of a long-term performance award estimated at $232.2 million. […]
Read moreApril 5, 2022 8:05 am
AUD/USD registered a fresh 42-week high on Tuesday, after the Reserve Bank of Australia dropped its pledge to be “patient” on policy tightening, while indicating the first interest rate hike in over a decade may be closer. The RBA kept its official cash rate intact at a record low level of 0.10% for the 16th […]
Read moreApril 4, 2022 9:23 am
EUR/USD extended a two-day streak of losses on Monday, as US bond yields surged on expectations of sharp interest rate hikes by the Federal Reserve, while the common currency was pressured by talk of fresh European sanctions on Russia. Concerns over economic damage stemming from Russia-Ukraine military confrontation have been weighing on the Euro, which […]
Read moreApril 4, 2022 7:04 am
RV maker THOR Industries Inc (THO) said last Friday that it had signed a Letter of Intent to sell a majority interest in its digital application business, TH2 Connect LLC. Private equity firm Graham Allen Partners, which specializes in building value through technology and digital transformation, will acquire a controlling interest in the business in […]
Read moreApril 1, 2022 9:26 am
United Parcel Service Inc (UPS) said it was testing out a four-wheeled “eQuad” electric cargo bike, which is intended for deliveries in densely populated urban regions that can be more easily accessed by bikes. According to Luke Wake, UPS’ vice president of fleet maintenance and engineering, the company is testing nearly 100 of the eQuad […]
Read moreMarch 31, 2022 11:32 am
IKEA announced on Wednesday that it intended to close its store in Tottenham, north London, later in 2022, while the move would affect 450 workers. The home furnishings retailer also said it remained committed to retaining as many affected employees as possible. IKEA also announced plans to add more than 600 other jobs in London […]
Read moreMarch 31, 2022 7:48 am
Futures on US West Texas Intermediate Crude Oil retreated more than 4% on Thursday, as the United States is weighing the release of up to 180 million barrels from its strategic petroleum reserve over a few months to curb skyrocketing oil prices. According to a report by Reuters, US President Joe Biden is expected to […]
Read moreMarch 30, 2022 10:30 am
Titan International Inc (TWI) said on Tuesday that it had entered into a definitive agreement to sell its Australian wheel business to OTR Tyres, a domestic tire, wheel and service provider. The deal is expected to close on March 31st. The transaction includes gross proceeds and cash to be repatriated of nearly AUD 23 million […]
Read moreMarch 30, 2022 8:46 am
Johnson & Johnson (JNJ) on Tuesday became the latest major company to limit its business operations in Russia in response to its incursion into Ukraine. Johnson & Johnson said that it would discontinue selling personal care products in the Russian Federation. The company said it would still provide medicines and medical devices in the region, […]
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