July 21, 2021 7:09 am
Volkswagen AG (VOWG) said earlier this week that it would discontinue sales and production of the Passat sedan in the United States next year, as the auto maker moves away from passenger cars in favor of Sport-utility vehicles. The company pointed out it would discontinue assembly of the Passat sedan in Tennessee, US, with model […]
Read moreJuly 20, 2021 9:13 am
AUD/USD, a liquid proxy for risk, traded near a fresh 34-week low on Tuesday, as rising concerns about the impact of the Delta variant on global economic recovery triggered a rush to safety, supporting the US Dollar and the Japanese Yen. “Learning to live with COVID is not being enthusiastically embraced amid the spread of […]
Read moreJuly 20, 2021 6:57 am
Zoom Video Communications Inc (ZM) said over the weekend that it had agreed to acquire cloud-based call center operator Five9 in a $14.7 billion deal, the company’s largest acquisition ever, amid intensifying competition in the video conferencing field. The Five9 acquisition is expected to complement Zoom Video Communications’ Zoom Phone service through the addition of […]
Read moreJuly 19, 2021 11:00 am
Ford Motor Co (F) said last week that it would recall nearly 775,000 Explorer SUVs worldwide due to a steering issue, which reportedly led to six injuries in North America. The recall covers 676,152 vehicles in North America, 59,935 vehicles in China and 38,600 vehicles in other parts of the globe, the auto maker said. […]
Read moreJuly 19, 2021 8:43 am
GBP/USD plunged to a fresh three-month low on Monday, as jittery mood over England’s re-opening dominated global markets amid continuing spread of the Delta variant of the novel coronavirus, supporting demand for safe haven assets such as the US Dollar and the Japanese Yen. July 19th marks the end of most social restrictions in England, […]
Read moreJuly 16, 2021 8:25 am
Spot Gold looked set for a fourth consecutive week of gains, supported by some dovish rhetoric from the Federal Reserve. In a hearing before the Senate Banking Committee yesterday, Fed Chair Jerome Powell faced sharp questions about inflation and once again reiterated that the central bank would continue to provide “powerful support” in order to […]
Read moreJuly 16, 2021 7:05 am
Daimler AG (DAIGn) on Thursday reported preliminary adjusted earnings before interest and tax (EBIT) of EUR 5.42 billion ($6.42 billion) during the second quarter, a result that outstripped the median analyst estimate of EUR 4.3 billion. Daimler’s Mercedes-Benz Car and Van division reported an adjusted EBIT of EUR 3.60 billion during the second quarter, which […]
Read moreJuly 15, 2021 8:41 am
Futures on US West Texas Intermediate Crude Oil extended losses on Thursday, as the market braced for increased supply after a compromise between key OPEC producers. Additionally, fuel inventories in the United States, the largest oil consumer globally, increased, while raising demand concerns. Yesterday both WTI and Brent plunged more than 2% following a report […]
Read moreJuly 15, 2021 7:12 am
Africa-focused Tullow Oil PLC (TLW) said on Wednesday that it forecast $600 million in full-year operating cash flow, or unchanged compared to 2020, in case the price of oil remains at $60 per barrel on average during the remainder of the year. The company added that its full-year operating cash flow would be $50 million […]
Read moreJuly 14, 2021 9:15 am
United Airlines Holdings Inc (UAL) on Tuesday announced plans to purchase 100 19-seat ES-19 electric jets from Swedish startup company Hart Aerospace. The decision comes at a time when the air carrier seeks to shift to battery-powered aircraft for regional routes. In a publication, United Airlines’ venture funding arm said that it would invest an […]
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