February 17, 2021 8:08 am
Adidas AG said on Tuesday that it was considering the divestiture of underperforming sports brand Reebok. Adidas first bought the US fitness label in 2006 in a deal valued at $3.8 billion in an attempt to better compete with rival Nike Inc. As of 8:03 GMT on Wednesday the shares of Adidas AG were losing […]
Read moreFebruary 16, 2021 10:36 am
AUD/USD extended gains from the previous three trading days on Tuesday, while touching a fresh one-month high, as it benefited from a surge in oil prices and optimism over a global economic recovery. The Aussie dollar, along with other commodity currencies, tracked higher oil prices after a cold front triggered a shutdown of wells and […]
Read moreFebruary 16, 2021 8:24 am
Mercedes-Benz USA, Daimler AG’s US unit, announced over the past weekend that it would recall 1.29 million vehicles, as their software may not communicate the correct vehicle location in case a crash occurs. The German company added it was preparing a software update, which will be installed by dealers or over-the-air. Daimler also said it […]
Read moreFebruary 15, 2021 10:08 am
GBP/USD rose to a fresh 34-month high on Monday, as market players doubted whether US recovery from the pandemic-induced shock would be as fast as anticipated, which pressured the US Dollar. The Sterling has also drawn support from the success of the UK government’s vaccination program. Reports emerged that the government had achieved its objective […]
Read moreFebruary 12, 2021 10:52 am
Spot Gold extended losses from the prior trading day on Friday, as the US Dollar rebounded from recent two-week lows, supported by a rise in 10-year US bond yields. Still, however, the yellow metal looked set to register its first weekly gain in the past three weeks on hopes of additional fiscal stimulus in the […]
Read moreFebruary 12, 2021 8:43 am
According to a report by the Wall Street Journal earlier this week, Best Buy Co Inc (BBY) has informed employees of some incoming job cuts at its stores, as the novel coronavirus pandemic forces retailers to become more reliant on online shopping than ever before. “Customer shopping behavior will be permanently changed in a way […]
Read moreFebruary 11, 2021 10:27 am
Futures on US West Texas Intermediate Crude Oil eased from yesterday’s over 1-year high on Thursday due to expectations of slower economic recovery, while speculation emerged that recent oil price gains could prompt key producers to cut output at a lesser rate. “Benchmark crude oil futures fell … as investors tapped the brakes on the […]
Read moreFebruary 11, 2021 8:21 am
According to a Wednesday report by Nikkei Asian Review, Apple Inc (AAPL) has tied up with Taiwan Semiconductor Manufacturing Co (TSMC) over the development of micro OLED displays, which the tech giant intends to use in its next augmented reality devices. Apple shares closed lower for a second consecutive trading session on NASDAQ on Wednesday. […]
Read moreFebruary 10, 2021 10:33 am
BlackRock Inc (BLK) on Tuesday announced the appointment of Rachel Lord as its new Chairman of Asia Pacific business. Lord’s appointment is effective from May 1st, subject to regulatory approval, the asset manager said. BlackRock shares closed higher for a second consecutive trading session in New York on Tuesday. The stock edged up 0.32% ($2.35) […]
Read moreFebruary 10, 2021 8:11 am
Comtech Telecommunications Corp (CMTL) said on Tuesday that its Mission-Critical Technologies group had been awarded a contract from the US Army worth up to $235.7 million to ensure provision of ongoing system refurbishments, sustainment services and baseband equipment. The agreement is expected to support the sustainment of the Army’s AN/TSC-198 Secret Internet Protocol Router and […]
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