April 26, 2022 8:58 am
After hitting a 20-year trough of 129.408 on April 20th against the US Dollar, Japan’s Yen attempted a slight recovery at the start of the new week, with USD/JPY slipping below the 128.00 mark. Still, the greenback remained underpinned by aggressive US interest rate hike expectations that kept Treasury yields high and by concerns over […]
Read moreApril 26, 2022 6:58 am
Ferrari will need to recall as many as 2,222 cars in China because of a potential fault in its braking systems, the country’s respective regulatory body said in a statement. According to the State Administration for Market Regulation, the recall, which is expected to be initiated on May 30th, will cover the 458 Italia, 458 […]
Read moreApril 22, 2022 8:55 am
Renault SA (RENA) on Friday reported lower first-quarter revenue, dented by the military conflict in Ukraine and a semiconductor shortage. The auto maker’s total revenue dropped 2.7% year-on-year to EUR 9.748 billion in the quarter. Excluding business operations of Avtovaz and Renault Russia, the group’s revenue went down 1.1% year-on-year to EUR 8.9 billion. In […]
Read moreApril 21, 2022 7:58 am
Futures on US West Texas Intermediate Crude Oil rose more than 1% in volatile trade on Thursday, with the market affected by supply concerns stemming from potential European Union ban on Russian oil and after an announcement by Libya of decreased oil output. “EU discussions to ban or phase out Russian oil purchases, the biggest […]
Read moreApril 20, 2022 9:35 am
Verizon Communications Inc (VZ) said earlier this week it would increase the minimum pay of its new and existing customer service, retail and inside sales employees to $20 per hour in light of a tight labor market and surging inflation. The wireless carrier also said that retail specialist and assistant manager roles in some regions […]
Read moreApril 19, 2022 10:22 am
Western Digital Corp (WDC) and Kioxia Corp said last week they had formally agreed to jointly invest in the first phase of the Fab7 (Y7) manufacturing facility at Kioxia’s Yokkaichi plant located in the Mie Prefecture of Japan. Construction of the first phase of the Y7 facility has already been completed, while initial production is […]
Read moreApril 19, 2022 9:08 am
NZD/USD rebounded from Monday’s seven-week trough of 0.6715 on Tuesday, after Reserve Bank of New Zealand Governor Adrian Orr said the bank remained focused on constraining inflation expectations and was ready to hike interest rates further in upcoming quarters. The RBNZ Governor said if the central bank raised interest rates too slowly there was a […]
Read moreApril 18, 2022 9:35 am
In an interview with CNBC last week, Amazon.com Inc’s (AMZN) Chief Executive Officer Andy Jassy said that the e-commerce company would probably not add cryptocurrency as a payment option to its retail business anytime soon. The CEO also said that users might be able to sell non-fungible tokens (NFTs) on Amazon’s e-commerce platform and that […]
Read moreApril 18, 2022 8:10 am
USD/JPY registered a fresh two-decade peak at 126.79 during the early Asian session on Monday, before comments from Bank of Japan Governor Haruhiko Kuroda and Finance Minister Shunichi Suzuki led to a swift bounce to 126.24. Although the US Dollar was stuck in a narrow range due to the Easter holiday in many parts of […]
Read moreApril 15, 2022 8:57 am
Oliver Zipse, BMW’s Chief Executive Officer, said during a roundtable in New York, that companies needed to be careful not to become too dependent on a few countries by focusing on electric vehicles only. The CEO noted that there still existed a market for combustion engine vehicles. “When you look at the technology coming out, […]
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