June 14, 2023 11:05 am
General Motors Co (GM) and Samsung SDI are set to establish an over $3 billion electric vehicle battery cell manufacturing facility in Indiana, which is expected to initiate production in 2026. Located near New Carlisle, Indiana, the plant is meant to have a production capacity of 30 gigawatt hours per year. The facility, which will […]
Read moreJune 13, 2023 9:24 am
Pernod Ricard’s Corby Spirit and Wine is set to purchase a 90% stake in Ace Beverage Group at an enterprise value of CAD 165 million, the company said on Tuesday. Founded in 2020 via the merger of Cottage Springs and Ace Hill, Ace Beverage Group has already become a leader in Canada’s ready-to-drink (RTD) market. […]
Read moreJune 13, 2023 8:22 am
Germany’s largest defense contractor Rheinmetall (RHMG) could see a further increase to its stock market value because of the war in Ukraine and higher defense spending in Europe. “Our operating income in 2025 should be about 1.5 billion euros ($1.6 billion), maybe even 1.7 billion euros. For a fair valuation, multiply that with a factor […]
Read moreJune 12, 2023 10:12 am
Key Points: FAB and IBM Consulting are partnering to migrate more applications to the cloud as part of FAB’s digital infrastructure modernization. FAB and IBM Consulting will conduct a discovery and assessment exercise to determine the optimal approach for migrating applications to cloud environments. The collaboration aims to optimize FAB’s technology infrastructure using a hybrid […]
Read moreJune 12, 2023 7:50 am
23andMe Holdings Inc (ME) said in a SEC filing dated June 9th that it intended to reduce its workforce by roughly 9%, or 75 employees. 23andMe Holdings said the move aimed ”to restructure and strategically align our workforce with the Company’s strategy and to reduce the Company’s operating costs.” It also said it expected to […]
Read moreJune 10, 2023 8:29 pm
Used-car retailer Carvana Co (CVNA.N) saw a significant surge in its stock price on Thursday, closing up 56.0%. The stock experienced further volatility on Friday, rising as much as 12% before dropping over 5% during morning trade. While Friday’s drop may have tempered some of the stock’s gains, it did little to alleviate the pain […]
Read moreJune 10, 2023 7:45 am
Key Moments: *Elon Musk announces that Twitter will start paying verified content creators for ads in their replies. *The first payment block is estimated to be around $5 million. *Only verified creators will be eligible for the ad payments. *Musk made this announcement in a tweet, stating that the ads must be served to verified […]
Read moreJune 10, 2023 5:59 am
Key moments: *Crypto.com will suspend its US professional institutional exchange service by June 21. *The decision is due to a decline in demand impacted by the present market conditions and pending legal proceedings against exchanges like Binance and Coinbase. * Both the retail mobile app and website will continue to function normally for clients in […]
Read moreJune 9, 2023 2:37 pm
This Thursday, June 8, Tesla (NASDAQ:TSLA) and General Motors (NYSE:GM) announced their partnership in the EV charging sector, allowing for GM EV’s to be charged at Tesla stations. This sparked a decline in EV charging companies stock. In their partnership, GM follows in the footsteps of rival Ford Motor (NYSE:F) by teaming up with Tesla […]
Read moreJune 9, 2023 10:02 am
Tesla (TSLA) closed higher for the tenth consecutive trading session on Thursday, marking the stock’s longest gaining streak in over two years. In stock trading, Tesla shares increased 4.58 percent to $234.86, the highest closing price since October 2022. In the previous session, the stock’s share price reached $230.83. Tesla was the S&P 500 index’s […]
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