March 1, 2021 8:39 am
General Motors Co (GM) announced last week that all workers at one of its plants in Brazil would be put on furlough for 20 days during March in relation with maintenance and updating of factory lines. As a result, production at the plant will be suspended. The facility, which is located in Gravatai in the […]
Read moreFebruary 26, 2021 10:08 am
Spot Gold extended losses from the previous three trading days on Friday, while hitting a fresh eight-month low, as optimistic macroeconomic outlook and higher inflation expectations gave US bond yields a boost. The commodity was also poised to register its second straight week of losses and the worst monthly performance since November 2020. Yesterday the […]
Read moreFebruary 25, 2021 10:15 am
Futures on US West Texas Intermediate Crude Oil extended gains from the previous trading session on Thursday, while touching a fresh 59-week high, as a Texas winter storm led to a considerable drop in US crude oil production last week, while the Federal Reserve assured markets that monetary policy would remain accommodative. The latest data […]
Read moreFebruary 25, 2021 8:07 am
Exxon Mobil Corp (XOM) said on Wednesday that it would divest some of its exploration and production assets in the UK and North Sea in an over $1 billion deal with private-equity fund HitecVision. The agreement includes ownership interests in 14 producing fields, operated mostly by Shell, along with interests in the associated infrastructure. Another […]
Read moreFebruary 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 […]
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