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CAE signs 15-year agreement with Qantas Group

August 17, 2022 10:41 am
CAE said on Tuesday that it had inked an exclusive 15-year agreement with the Qantas Group to develop and operate a new pilot training centre in Sydney, Australia. The 7,000 square-metre CAE Sydney Training Centre is expected to open in early 2024. Having a capacity for up to eight full-flight simulators, the training centre will […] Read more

Walmart Grocery Prices Increased by 21.5% Between July 2019 and July 2022

August 16, 2022 11:51 am
Consumer price inflation in the US slowed to 8.7% in July 2022 from a 41-year high in June 2022 when the inflation rate accelerated to 9.1%, the highest rate since November 1981. According to The Federal Reserve’s economic projection published on June 15th, 2022, the personal consumption expenditures inflation rate is expected to come in […] Read more

Petrobras announces another cut in diesel prices, effective August 12th

August 12, 2022 9:52 am
Petroleo Brasilero SA said yesterday that refinery gate diesel prices would be lowered by 4%, starting August 12th. This has been the second price cut in a week amid a drop in global prices. In a statement on its website, the Brazilian state-run oil company announced its diesel prices would be reduced to 5.19 reais […] Read more

Deutsche Telekom raises full-year profit forecast, quarterly earnings beat

August 12, 2022 7:45 am
Deutsche Telekom on Thursday revised up its annual profit forecast for the second time, as quarterly earnings topped estimates. The company also said that it could accomplish its objective to acquire a majority stake in T-Mobile much sooner than 2024. Total revenue went up 5.9% year-on-year to EUR 28.2 billion in the second quarter, in […] Read more

Toshiba reports unexpected quarterly operating loss amid rising costs

August 11, 2022 10:24 am
Toshiba Corp (6502) on Wednesday reported a surprise operating loss for its fiscal first quarter. According to Masayoshi Hirata, Toshiba’s Chief Financial Officer, this first quarterly loss in 2 years was a result of rising prices of steel, copper and components sourced from suppliers. “We have been able to only offset about half the impact […] Read more

Sandvik acquires precision tools maker Sphinx Tools

August 9, 2022 11:59 am
Sandvik AB said on Monday it had signed and completed an agreement to buy 100% of the equity interests in Swiss firm Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG. Founded in 1994 and having nearly 115 employees, Sphinx Tools will be reported within Sandvik Coromant, a division within Sandvik Manufacturing […] Read more

Major US airlines’ revenue in Q2 2022 exceeds the pre-pandemic levels

August 9, 2022 9:00 am
Despite operational hurdles and decade-high inflation, the airline industry has seen sizable improvement in international travel demand and major air carriers have returned to profitability. Many airlines saw their revenue at levels near or even above those before the COVID-19 pandemic in the second quarter and are rather optimistic about their Q3 and Q4 performance. […] Read more

Maersk to buy Danish logistics company Martin Bencher Group

August 8, 2022 11:02 am
Shipping giant A.P. Moller-Maersk said last week it had agreed to acquire Danish logistics firm Martin Bencher Group in a deal estimated at $61 million. “Martin Bencher will be an excellent fit to Maersk and our integrator strategy, strengthening our ability to provide project logistics services to our global clients. When Martin Bencher joins the […] Read more