March 22, 2022 9:57 am
Last week’s rally in AUD/USD stalled at the start of the new week as fresh bets on Fed rate hikes supported the US Dollar and US bond yields registered multi-year highs. Speaking at the annual conference held by National Association for Business Economics, Federal Reserve Chair Jerome Powell noted “the economy is very strong and […]
Read moreMarch 21, 2022 10:42 am
Royal Dutch Shell said on Monday that it had been given the green light by Australia’s offshore petroleum regulator to resume production at its Prelude floating liquefied natural gas facility off northwestern Australia. In December, a power outage led to the shutdown of the 3.6 million tonnes per year site. The company cut the power […]
Read moreMarch 21, 2022 8:32 am
Kohl’s Corp (KSS) and Capital One, National Association, a subsidiary of Capital One Financial Corporation (COF), announced last week a multi-year extension of their credit card partnership. This has been the second contract extension, following one that occurred in 2014. The contract extension enables consumers to expand buying power and also further solidifies an already […]
Read moreMarch 18, 2022 10:31 am
General Electric Co (GE) announced on Thursday that Chief Executive Officer Larry Culp’s incentive grant for 2022 would be cut by 67% following a non-binding but rare shareholder rebuke last year. The industrial conglomerate said in its annual proxy statement that the CEO’s annual equity incentive grant would be cut to $5 million from $15 […]
Read moreMarch 18, 2022 8:17 am
Toyota Motor Corp (7203) announced on Thursday that it would reduce its global production target in April by 150,000 units to 750,000 units due to continuing semiconductor shortage as well as COVID-19 pandemic. The company expects monthly global production for the period from April to June to be approximately 800,000 vehicles on average. According to […]
Read moreMarch 17, 2022 10:30 am
E.ON’s (EONGn) Chief Executive Officer Leonhard Birnbaum said yesterday that the group had halted procuring new gas amounts from Gazprom trading companies in Europe, while responding to the military conflict in Ukraine. Although the group has no long-term supply contracts directly with gas producers, a small amount in its portfolio has been acquired from Gazprom […]
Read moreMarch 17, 2022 9:31 am
Walmart Inc (WMT) on Wednesday announced plans to hire over 50,000 workers in the United States during the first quarter. The US retailer said the new hires would fill roles at its stores, clubs, campuses as well as supply chain facilities. Last year the company hired 5,500 pharmacists or pharmacy managers, more than 13,000 pharmacy […]
Read moreMarch 16, 2022 10:27 am
Bentley on Tuesday announced plans to manufacture 1 new electric model per year for 5 years from 2025, as the company reported a considerable surge in its annual profit. Bentley’s earnings stood at EUR 389 million in 2021, which compares with a profit of EUR 20 million in 2020, driven by a 31% surge in […]
Read moreMarch 16, 2022 8:47 am
Ford Motor Co (F) said earlier this week its Turkish joint venture would acquire the auto maker’s Craiova facility in Romania for EUR 575 million and eventually move Courier van production there. The acquisition is expected to be finalized in the third quarter, Ford said. Ford manufactures Puma and EcoSport passenger models at its Romania-based […]
Read moreMarch 15, 2022 9:44 am
AUD/USD sank to a fresh two-week low on Tuesday on concerns that coronavirus disruptions in China could hamper commodity demand. Prices of industrial metals, precious metals and agricultural commodities have registered considerable declines since their peaks, but not as steep as energy. The lockdown of the Chinese city of Shenzen and the imposition of a […]
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