February 24, 2021 10:30 am
Macy’s Inc (M) on Tuesday projected full-year 2021 revenue well above Wall Street estimates, as progress in vaccine rollouts would allow clients to return to its department stores following pandemic-related restrictions. Macy’s said it now forecast full-year sales within the range of $19.75 billion to $20.75 billion, which compares with a consensus of analyst estimates […]
Read moreFebruary 24, 2021 8:48 am
A group of activist investors holding a combined stake of 9.5% in Kohl’s Corp (KSS) said earlier this week that it had nominated 9 directors to the department store chain’s board, as it aims to improve profitability. The group, which includes Macellum Advisors GP LLC, Ancora Holdings Inc, Legion Partners Asset Management LLC and 4010 […]
Read moreFebruary 23, 2021 10:21 am
AUD/USD traded in proximity to fresh three-year highs on Tuesday, underpinned by the recent surge in commodity prices. Higher prices for a range of materials, including oil, copper, lumber and milk powder, have provided support to commodity currencies such as the Aussie and the kiwi dollars. Yesterday the price of copper surged above $9,000 per […]
Read moreFebruary 23, 2021 8:41 am
According to a report by Bloomberg Law, citing sources with knowledge of the matter, Citigroup Inc is mulling the divestiture of some retail banking units in the Asia-Pacific area. The report said that Citigroup’s units in South Korea, Thailand, the Philippines and Australia could be divested. Still, no final decision has so far been made. […]
Read moreFebruary 22, 2021 10:12 am
GBP/USD hit a fresh 34-month high in early European trade on Monday, as the Sterling firmed further due to UK’s relative success in COVID-19 vaccination roll-out, which is expected to pull the economy out of the pandemic-induced recession. Ebbing concerns that the Bank of England could bring interest rates below zero has been another factor […]
Read moreFebruary 19, 2021 10:26 am
Spot Gold extended losses from the prior several trading days on Friday, while hitting a fresh 33-week trough, as the recent surge in US bond yields continued to weigh on demand for the safe-haven metal. Gold also looked set to register its biggest weekly loss since late November, being down 2.74%. The yield on 10-year […]
Read moreFebruary 19, 2021 8:38 am
Tesla Inc (TSLA) has slashed the price of its base variants of the Model 3 sedan and the Model Y Sports-utility vehicle (SUV), while the price for the performance variants of those vehicles has been raised. Lower vehicle prices come as the auto maker seeks to bolster its deliveries. Last year Tesla’s total deliveries stood […]
Read moreFebruary 18, 2021 10:07 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior three trading days on Thursday, while hitting a fresh 13-month high, due to concerns that a cold front in Texas, the largest oil-producing state, could disrupt oil output for days. Texas is facing massive refining outages and oil and gas shut-ins, with […]
Read moreFebruary 18, 2021 8:33 am
According to a report by the state news agency WAM, the United Arab Emirates’ civil aviation authority has given Boeing 737 MAX aircraft a green light to return to commercial service. Boeing shares closed lower for the fourth time in the past ten trading sessions in New York on Wednesday. The stock went down 0.76% […]
Read moreFebruary 17, 2021 10:30 am
The Swiss Competition Commission (COMCO) said earlier this week that it had launched a probe of Mastercard Inc (MA) in relation with possible obstruction of SIX’s National Cash Scheme, the legislation governing withdrawals and other transactions at banks’ cash machines. Mastercard shares closed higher for the fifth time in the past ten trading sessions in […]
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