October 11, 2021 8:22 am
GBP/USD gained on Monday, while extending a rebound from a nine-month trough registered on September 29th, supported by rising expectations that the Bank of England could have to raise interest rates sooner in order to tackle a surge in inflation. “In the UK, markets are clearly taking the view that the BoE will be forced […]
Read moreOctober 10, 2021 5:51 pm
Production at Ford Motor Co’s (F) Hermosillo plant in Mexico will be temporarily suspended on October 11th and October 12th due to a shortage of material, the facility’s labor union said last week. However, it did not become clear which materials were in short supply. Plant workers will receive 75% of their salaries on those […]
Read moreOctober 8, 2021 8:50 am
Spot Gold was mostly steady within a tight daily range on Friday as market focus sets on the US Non-Farm Payrolls report due out later in the day. Some analysts project strong data will add to the case for the Federal Reserve to begin tapering monetary stimulus and mount pressure on the yellow metal. “Gold’s […]
Read moreOctober 8, 2021 7:17 am
Royal Dutch Shell said on Thursday that it expected to incur a $400 million hit to its third-quarter earnings, to be reported this month, from August’s Hurricane Ida. On the other hand, the oil company raised its cash flow forecast due to rising electricity prices. Gas and electricity prices have been surging since tight gas […]
Read moreOctober 7, 2021 8:38 am
Futures on US West Texas Intermediate Crude Oil retreated for a second straight trading day on Thursday after a surprise increase in US crude oil stocks raised concerns over weaker demand. The official report by the US Energy Information Administration (EIA) showed yesterday that crude oil inventories had risen by 2.346 million barrels to 420.8 […]
Read moreOctober 7, 2021 7:24 am
Alphabet Inc’s Google said on Wednesday that it intended to invest $1 billion in Africa over the upcoming five years in order to facilitate access to fast and cheaper internet service and to support the continent’s digital transformation. The announcement was made during a virtual event where Google launched an Africa Investment Fund, through which […]
Read moreOctober 6, 2021 9:10 am
General Motors Company (GM) announced on Tuesday plans to open a battery cell development center in Michigan in an attempt to reduce the cost and increase the driving range of its electric vehicles powered by lithium ion and solid-state batteries. The Wallace Battery Cell Innovation Center, which will be located on GM’s technical campus in […]
Read moreOctober 6, 2021 7:25 am
Verizon Communications Inc (VZ) and CareAR announced earlier this week a strategic partnership aimed to transform the service and customer experience delivered by CareAR. A combination of Verizon’s 4G, 5G networks and near real-time computing technology with CareAR’s augmented reality and AI-based platform will enable technicians to remotely and proactively resolve service issues faster and […]
Read moreOctober 5, 2021 9:12 am
AUD/USD snapped a three-day streak of gains on Tuesday as investors were concerned about inflation, rising oil prices and a possible economic slowdown in China, while Reserve Bank of Australia continued with its plan to maintain its bond-purchasing program at a pace of AUD 4 billion per week until at least mid-February 2022. At the […]
Read moreOctober 5, 2021 7:23 am
Amazon.com Inc- and Ford Motor Co-backed Rivian Automotive, which at present sources batteries from Samsung SDI, intends to manufacture battery cells of its own, the company’s filing for an initial public offering in the United States showed. “Given the paramount importance and impact of the battery system on vehicle range, performance, and price, we have […]
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