March 2, 2022 8:24 am
Citigroup Inc (C) said earlier this week its total exposure to Russian assets equaled $5.4 billion at the end of December. That compares with $5.5 billion at the end of September. According to Citi’s regulatory filing, the $5.4 billion exposure is 0.3% of the group’s assets in 2021. As of December 31st, the financial group’s […]
Read moreFebruary 28, 2022 11:58 am
Panasonic Corp (6752) announced on Monday that it would initiate mass production of a new lithium-ion battery for Tesla Inc prior to the end of March 2024. The 46 millimeters wide and 80 millimeters tall battery, which is nearly five times larger than those currently used by Tesla, was unveiled last October. This way the […]
Read moreFebruary 25, 2022 11:50 am
UniCredit SpA’s (CRDI) Russian arm has a “very liquid and self-funded” balance sheet, while its impaired loan coverage is very high, the financial group said on Thursday, as its stock plummeted more than 13% due to the Ukraine crisis. Italy’s second-largest lender said in an emailed note that provisions against possible losses covered 84% of […]
Read moreFebruary 24, 2022 10:20 am
5G wireless operations have the potential to affect radio altimeters in most Boeing 737 aircraft and also affect crew workload and jet landings, according to a government notice posted online on Wednesday. The notice stated that the aircraft’s “radio altimeters cannot be relied upon to perform their intended function if they experience interference from wireless […]
Read moreFebruary 24, 2022 8:01 am
Tesla Inc (TSLA) intends to increase parts production at its Shanghai facility in an attempt to meet rising demand for exports, a document filed with the city government showed. The document stated that the US electric car maker would add production workshops, hire more workers and lengthen the time equipment is operational. At present, Tesla’s […]
Read moreFebruary 23, 2022 11:24 am
Air Canada said earlier this week it would expand its North American network for the upcoming summer, as the company’s post-COVID recovery picks up. With the launch of new service on 4 trans-border and 3 domestic routes, along with the restoration of 41 North American routes, the airline will operate to 51 Canadian and 46 […]
Read moreFebruary 23, 2022 8:21 am
iPower Inc (IPW), a leading online hydroponic equipment supplier and retailer, said on Tuesday it had acquired Anivia Limited, a British Virgin Islands company, in a deal valued at $12 million. Anivia Limited has a 100% interest in iPower’s biggest global co-engineering partner, Daheshou Shenzhen Information Technology Co Ltd. (DHS). DHS is a China-based service […]
Read moreFebruary 22, 2022 6:48 am
Auto parts supplier Faurecia said on Monday that it expected a surge in annual sales and that industry-wide semiconductor shortage would likely ease in the second half of 2022. The French company, which supplies car seats, dashboards and fuel systems to auto makers, now forecasts full-year sales within the range of EUR 17.5 billion to […]
Read moreFebruary 18, 2022 10:39 am
Telecom operator Orange SA (ORAN) said earlier this week it expected to return to core profit growth in 2022, after last year’s results were affected by lower returns from co-financing deals and intense competition in the Spanish market. France’s Orange forecasts earnings before interest, tax, depreciation and amortization after leases (EBITDAaL) to increase by between […]
Read moreFebruary 17, 2022 11:35 am
Barrick Gold Corp announced yesterday a share repurchase program of up to $1 billion and raised dividend payout, as it reported better-than-expected fourth-quarter results. Total revenue went up 17% from the prior quarter to $3.310 billion, while exceeding a consensus of analyst estimates of $3.147 billion. Excluding special items, the company earned $0.35 per share […]
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