August 25, 2021 9:47 am
A.P. Moller-Maersk announced earlier this week the order of eight new tankers powered by carbon-neutral methanol, as it seeks to speed up its fleet’s decarbonisation initiative. These vessels will be manufactured by Hyundai Heavy Industries and will have the capacity to carry 16,000 containers. Every tanker will have a cost of about $175 million, which […]
Read moreAugust 25, 2021 7:45 am
Volvo Cars announced plans to pause production at its facility in Torslanda, on the outskirts of Gothenburg, during the upcoming week because of the shortage of semiconductor chips. “Due to the current material shortage situation, triggered by a combination of global semiconductor shortages and new COVID-19 outbreaks, Volvo Cars has decided to pause production in […]
Read moreAugust 24, 2021 8:59 am
AUD/USD extended a rebound from 41-week lows on Tuesday, supported by a 3% surge in iron ore prices and some weakness in the US Dollar, as market focus turns to the Jackson Hole convention hosted by the Federal Reserve. Market risk sentiment improved after the US Food and Drug Administration granted full approval to the […]
Read moreAugust 24, 2021 7:36 am
Pfizer Inc (PFE) said on Monday that it had agreed to buy oncology biotechnology company Trillium Therapeutics in a deal valued at nearly $2.3 billion, as the US drug maker looks to bolster its arsenal of blood cancer therapies. Pfizer intends to acquire all the outstanding shares of Trillium Therapeutics at a price of $18.50 […]
Read moreAugust 23, 2021 9:05 am
GBP/USD rebounded from last week’s one-month trough on Monday, while tracking other risk-sensitive assets, as investor risk sentiment improved while the safe-harbor greenback came off recent highs. The US Dollar eased from an over 9-month peak against a basket of six major peers on Monday, as market sentiment improved with a rebound in Asian shares […]
Read moreAugust 23, 2021 7:34 am
Marks & Spencer on Friday revised up its profit outlook after a surge in demand for food and an increase in online clothes’ orders provided indication that the British retailer’s latest turnaround plan was beginning to pay off. Thanks to efforts aimed to improve the quality of products and solid investment initiatives in technology and […]
Read moreAugust 20, 2021 8:07 am
Volkswagen AG (VOWG) said on Thursday that it might need to reduce production further because of a global semiconductor shortage. “We currently expect supply of chips in the third quarter to be very volatile and tight,” the German auto maker was quoted as saying by Reuters. “We can’t rule out further changes to production.” The […]
Read moreAugust 19, 2021 8:45 am
Futures on US West Texas Intermediate Crude Oil dropped for a sixth consecutive trading day on Thursday, while marking their longest streak of losses since late-February 2020, as the relentless spread of the Delta variant of the novel coronavirus worldwide bolstered concerns over fuel demand. Additionally, an unexpected increase in US gasoline stocks last week […]
Read moreAugust 19, 2021 7:13 am
Geely Automobile Holdings on Wednesday maintained its annual sales target as it bet on new product launches. However, the company warned that its near-term performance would be affected by a global chip shortage and resurgent COVID-19 infections. Geely reported a 22% year-on-year surge to 45 billion yuan ($6.94 billion) in its six-month revenue to June […]
Read moreAugust 18, 2021 9:03 am
Germany’s financial agency said earlier this week that the government intended to sell up to a quarter of its 20% stake in Lufthansa during the upcoming weeks, as it cited the positive developments at the previously bailed out air carrier. This 20% state stake was obtained for as much as EUR 300 million, as part […]
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