June 21, 2022 8:35 am
AUD/USD extended gains from the prior trading day on Tuesday, after Reserve Bank of Australia Governor Philip Lowe signaled more interest rate hikes in the coming months. Gains, however, seemed limited by concerns over slowing global economic growth. The minutes of RBA’s June meeting, released on Tuesday, revealed the bank’s board had discussed increasing the […]
Read moreJune 20, 2022 10:50 am
Last Friday General Motors Co (GM) raised the price of its Hummer EV pickup truck by $6,250 in an attempt to mitigate the effect of rising commodity and shipping costs as demand for cars and trucks surges. Currently priced within a range of $80,000 to $110,000, GM’s Hummer EV has over 77,500 existing bookings. Yet, […]
Read moreJune 20, 2022 9:06 am
USD/JPY traded not far from last week’s 23 1/2-year high of 135.59 on Monday, as central bank monetary policy divergence between Japan and the United States became more evident. In light of last week’s massive monetary policy tightening by central banks, including the Federal Reserve, Bank of England and even the Swiss National Bank, Bank […]
Read moreJune 17, 2022 11:11 am
Sony Corp and Honda Motor Co Ltd said this week they had officially agreed to establish an equally owned joint venture with the aim to begin selling electric vehicles by 2025. The two companies will invest JPY 5 billion in the venture each. Senior Honda executive Yasuhide Mizuno will assume the roles of Chairman and […]
Read moreJune 17, 2022 7:58 am
Walmart Inc (WMT) said earlier this week it would raise the average pay of pharmacy workers to over $20 per hour and offer them more frequent and automatic pay raises as part of the company’s new “progressive wage model”. Under this plan, new pharmacy technicians will receive raises of up to $4 to their hourly […]
Read moreJune 16, 2022 8:11 am
Futures on US West Texas Intermediate Crude Oil rebounded on Thursday after a sharp decline in the prior trading day, while drawing support from tight supply and peak summer fuel demand. Yesterday WTI Crude retreated over 3% after the Federal Reserve hiked interest rates by 0.75% to rein in surging inflation, or the biggest single-meeting […]
Read moreJune 15, 2022 8:43 am
EUR/USD gained almost 0.7% on Wednesday after the ECB’s governing council announced an emergency meeting today to discuss the recent sell-off in bond markets, after the spread between the bond yields of Germany and some European peripheral nations, Italy in particular, rose to levels unseen in more than 2 years. “My hunch is that this […]
Read moreJune 15, 2022 7:35 am
Ford Motor Co (F) announced on Tuesday the recall of nearly 49,000 Mustang Mach-E electric vehicles in the United States, as a part could overheat and lead to propulsion power loss. DC fast charging and repeated wide-open pedal events may cause the high-voltage battery main contactors to overheat, the company warned. The US auto maker […]
Read moreJune 14, 2022 10:44 am
Energy giant TotalEnergies (TTEF) intends to acquire a 25% stake in India’s Adani New Industries Ltd, as part of an agreement with Adani Enterprises Ltd over the development of the world’s largest green hydrogen ecosystem. Adani New Industries Ltd intends to invest $50 billion during the next 10 years in green hydrogen and associated ecosystem. […]
Read moreJune 14, 2022 7:20 am
The economy minister of Brandenburg Joerg Steinbach said at a conference on Monday that Tesla Inc (TSLA) was hiring 500 to 600 people per month at its Gruenheide factory and was cooperating with the national employment agency to recruit workers no longer needed at German auto makers. A total of 4,100 to 4,500 employees have […]
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