October 25, 2021 9:05 am
GBP/USD edged up at the start of the new week as market players weighed the prospect of inflation speeding up the pace of rate increases outside the United States. Markets are now pricing a nearly 60% possibility that Bank of England will lift interest rates next week. Meanwhile, against a basket of six major peers, […]
Read moreOctober 25, 2021 7:30 am
VF Corp’s (VFC) quarterly revenue and earnings, reported last Friday, fell short of analyst estimates, as the apparel manufacturer faced product delays stemming from global supply chain disruptions as well as production shortfalls in Vietnam. The Vans owner reported a 23% year-on-year surge in total revenue to $3.20 billion during the fiscal second quarter, while […]
Read moreOctober 22, 2021 9:02 am
Spot Gold was poised to register its biggest weekly gain since late August, as the US Dollar continued pulling back from the recent one-year peak, making the commodity more attractive for international investors holding other currencies. However, a sharp increase in 10-year US Treasury yields so far in October has capped Gold’s upside, as it […]
Read moreOctober 22, 2021 7:30 am
Southwest Airlines Co’s (LUV) third-quarter loss, reported on Thursday, narrowed from a year earlier as vaccination progress underpinned demand for air travel ahead of the busy holiday season. The air carrier’s total operating revenue rose 161% year-on-year to $4.68 billion during the third quarter. Excluding special items, Southwest Airlines reported a net loss of $135 […]
Read moreOctober 21, 2021 10:03 am
Futures on US West Texas Intermediate Crude Oil eased on Thursday, as some investors took profits following the recent market rally. However, oil losses seemed to have been limited by strong US demand and a switch to fuel oil from coal and gas. Oil prices reached fresh multi-year highs this week due to a global […]
Read moreOctober 21, 2021 8:17 am
Taiwanese tech company Foxconn is setting sights on making electric vehicles (EVs) in Europe, India and Latin America, including “indirectly” working in cooperation with German auto makers, according to Foxconn’s Chairman Liu Young-way. Formally known as Hon Hai Precision Industry Co Ltd, Foxconn seeks to bolster its positions in the global electric vehicle market and […]
Read moreOctober 20, 2021 9:42 am
Maserati, Stellantis’ luxury brand, announced earlier this week that it would delay the launch of its new Grecale SUV to the spring of 2022 “in view of the background problems that have caused interruptions in the supply chains for the key components necessary to complete the car’s production process”. “In particular, due to the shortage […]
Read moreOctober 20, 2021 7:41 am
Ford Motor Company (F) said earlier this week that it would invest up to GBP 230 million ($316 million) in the production of electric car components at its facility in Halewood in northern England. That facility is expected to manufacture about 250,000 power units each year from mid-2024 and will be the first European in-house […]
Read moreOctober 19, 2021 8:38 am
AUD/USD hit highs not seen since early September on Tuesday amid improved risk sentiment as Asian shares tracked US tech equities higher as well as on indications China’s property market woes will probably be contained. The risk-sensitive Aussie dollar surged even as the minutes from Reserve Bank of Australia’s October policy meeting showed the central […]
Read moreOctober 19, 2021 7:23 am
Last week Toyota Motor Corp (7203) reduced its planned global production for November by 15% because of ongoing chip shortages. Still, the company signaled that it would increase output from December by sticking to its latest full-year production objective. In a press release, the Japanese company said it would produce between 100,000 and 150,000 fewer […]
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