April 7, 2022 9:32 am
Shell announced on Thursday that it would write down up to $5 billion after its decision to leave the Russian Federation, as surging oil and gas prices supported trading activities in Q1. The oil major had previously said that Russia-related writedowns would be nearly $3.4 billion. The increase came as a result of additional potential […]
Read moreApril 7, 2022 7:29 am
Toyota Motor Corp (7203) said earlier this week it would close its facility in the Brazilian city of Sao Bernardo do Campo and move vehicle production to its other manufacturing sites in the state of Sao Paulo. According to Toyota, the move is part of its plan “to become more competitive when facing the challenges […]
Read moreApril 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 […]
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