September 27, 2021 7:26 am
Last week Nike Inc (NKE) revised down its fiscal 2022 sales forecast and said it expected delays during the busy holiday shopping season due to a supply chain crunch. The company now projects full-year sales growth in the mid-single digits, compared with the low-double-digit growth it had forecast previously. The sporting goods manufacturer also said […]
Read moreSeptember 24, 2021 9:57 am
Spot Gold rebounded from a six-week low on Friday, as concerns over indebted property developer China Evergrande supported demand for the safe-haven metal, while the US Dollar eased from recent one-month highs. “Asian investors could be building gold to protect against undesirable developments in the Evergrande saga over the weekend,” Jeffrey Halley, a senior market […]
Read moreSeptember 24, 2021 7:20 am
Workhorse Group Inc (WKHS) said earlier this week that deliveries of its flagship C-1000 electric van would be suspended, because additional tests and modifications were required for the vehicle to comply with regulatory standards. The company said that it would recall the 41 vans it had already delivered, regardless of that no reports of safety […]
Read moreSeptember 23, 2021 8:51 am
Futures on US West Texas Intermediate Crude Oil hit a fresh one-week high on Thursday after a sharper-than-expected drop in US crude oil inventories and as output in the Gulf of Mexico remains obstructed following recent hurricanes. Renewed investor risk appetite also supported oil prices, since concerns over a potential default by property developer China […]
Read moreSeptember 23, 2021 7:27 am
Macy’s Inc (M) said earlier this week that it intended to hire nearly 76,000 full-time and part-time workers at its stores, call centers and warehouses ahead of the busy holiday shopping season. The announcement indicated a return to hiring levels from before the coronavirus pandemic. Seasonal hiring plans also indicate retailers’ sales expectations for the […]
Read moreSeptember 21, 2021 8:58 am
AUD/USD snapped a three-day streak of losses on Tuesday, while tracking a rally in crude oil prices and despite overall risk-averse mood. Yesterday the Aussie slipped to a fresh one-month low against its US counterpart, as the risk of a potential default by property developer China Evergrande heightened, causing a flight to safety in the […]
Read moreSeptember 21, 2021 7:21 am
Verizon Communications Inc (VZ) said last week that it would increase its subsidies on offer for the newly launched iPhone 13, as it seeks to lure more clients to its network. Verizon will now offer trade-in subsidies of up to $1000, while matching its competitor AT&T Inc, up from $700 previously. Clients who turn in […]
Read moreSeptember 20, 2021 8:53 am
GBP/USD retreated for a third straight trading day on Monday, while touching a fresh one-month low, as the US Dollar remained firm on investor expectations of the Federal Reserve moving a step closer towards asset purchase tapering this week. Additionally, concerns that the eventual collapse of indebted developer China Evergrande could lead to a broader […]
Read moreSeptember 20, 2021 7:25 am
J.P. Morgan (JPM) intends to launch its long-planned digital retail bank Chase in the United Kingdom this week, according to reports in the media. “This is a very big strategic commitment from the firm’s standpoint,” Sanoke Viswanathan, head of J.P. Morgan’s international consumer division, said in an interview with the Financial Times. “We will spend […]
Read moreSeptember 17, 2021 8:47 am
Spot Gold rebounded from an over one-month low on Friday, but was still poised to register a weekly loss as the US Dollar held ground near a three-week peak ahead of the highly anticipated Federal Reserve policy meeting next week. A stronger dollar reduces Gold’s appeal for international investors holding other currencies. “While support at […]
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