May 10, 2021 7:29 am
According to a statement by American International Group Inc’s (AIG) Chief Executive Officer Peter Zaffino last week, the company intends to use an IPO in order to sell a 19.9% stake in its life and retirement unit. The company weighed interest from competitors, however, according to the CEO, “at this time, we believe an IPO […]
Read moreMay 7, 2021 9:00 am
Spot Gold extended gains to an 11 1/2-week high on Friday and was also set to register its best weekly performance in six months, as the US Dollar was hovering near a one-week low and 10-year US government bond yields were near a two-week low ahead of the key US Non-Farm Payrolls data due out […]
Read moreMay 6, 2021 9:05 am
Futures on US West Texas Intermediate Crude Oil rose on Thursday following a slight retreat the prior day, as US crude oil stocks decreased at a sharper rate than anticipated last week due to a surge in refining output and exports. An official report by the US Energy Information Administration showed on Wednesday that crude […]
Read moreMay 5, 2021 8:44 am
According to a Tuesday report by Bloomberg News, citing sources with knowledge of the matter, Goldman Sachs Group Inc (GS) intends to inform its employees to be prepared to return to offices by mid-June. The Wall Street bank employs almost 40,000 people across the globe. Other banks such as Wells Fargo & Co had previously […]
Read moreMay 4, 2021 8:42 am
AUD/USD retreated on Tuesday, while staying within a relatively narrow range, after the Reserve Bank of Australia kept policy settings without change and reiterated that monetary conditions would remain accommodative until at least 2024. Still, the central bank raised its forecasts for Australia’s economy. The official cash rate was kept intact at a record low […]
Read moreMay 3, 2021 9:14 am
GBP/USD bounced from a two-week low at the start of a week heavy on major macroeconomic data and central bank meetings. Trade volumes were lighter due to holidays in Japan, China and the UK, while market volatility – subdued. The Bank of England is scheduled to hold a policy meeting on Thursday, with asset purchases […]
Read moreApril 30, 2021 9:10 am
Spot Gold was a notch weaker on Friday and looked set to register its first weekly loss in the past four weeks, as robust US macro data drove bond yields higher, increasing the opportunity cost of holding Gold which generates no interest. Still, the commodity was on track to post its first monthly gain this […]
Read moreApril 29, 2021 8:27 am
Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Thursday, as upbeat oil demand forecasts overshadowed concerns stemming from COVID-19 resurgence in some parts of the world, including India and Brazil. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, revised up their oil demand […]
Read moreApril 28, 2021 9:31 am
United Parcel Service Inc’s (UPS) quarterly revenue, reported on Tuesday, surged past Wall Street estimates, as the package delivery company experienced a boom in online purchases amid the coronavirus pandemic. UPS’ total revenue went up 27% year-on-year to $22.9 billion during the latest fiscal quarter, while outstripping a consensus of analyst estimates pointing to revenue […]
Read moreApril 28, 2021 7:31 am
Tesla Inc (TSLA) intends to add facilities at its plant in Shanghai with which to repair and reproduce essential components such as electric motors and battery cells, according to a document submitted by the company to local authorities. The auto maker also intends to add manufacturing capacities for car structures and electric motor controllers, the […]
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