April 22, 2022 8:55 am
Renault SA (RENA) on Friday reported lower first-quarter revenue, dented by the military conflict in Ukraine and a semiconductor shortage. The auto maker’s total revenue dropped 2.7% year-on-year to EUR 9.748 billion in the quarter. Excluding business operations of Avtovaz and Renault Russia, the group’s revenue went down 1.1% year-on-year to EUR 8.9 billion. In […]
Read moreApril 20, 2022 9:35 am
Verizon Communications Inc (VZ) said earlier this week it would increase the minimum pay of its new and existing customer service, retail and inside sales employees to $20 per hour in light of a tight labor market and surging inflation. The wireless carrier also said that retail specialist and assistant manager roles in some regions […]
Read moreApril 19, 2022 10:22 am
Western Digital Corp (WDC) and Kioxia Corp said last week they had formally agreed to jointly invest in the first phase of the Fab7 (Y7) manufacturing facility at Kioxia’s Yokkaichi plant located in the Mie Prefecture of Japan. Construction of the first phase of the Y7 facility has already been completed, while initial production is […]
Read moreApril 18, 2022 9:35 am
In an interview with CNBC last week, Amazon.com Inc’s (AMZN) Chief Executive Officer Andy Jassy said that the e-commerce company would probably not add cryptocurrency as a payment option to its retail business anytime soon. The CEO also said that users might be able to sell non-fungible tokens (NFTs) on Amazon’s e-commerce platform and that […]
Read moreApril 15, 2022 8:57 am
Oliver Zipse, BMW’s Chief Executive Officer, said during a roundtable in New York, that companies needed to be careful not to become too dependent on a few countries by focusing on electric vehicles only. The CEO noted that there still existed a market for combustion engine vehicles. “When you look at the technology coming out, […]
Read moreApril 14, 2022 9:41 am
Walmart Inc (WMT) said earlier this week it had appointed John Rainey, PayPal Holdings Inc’s finance head, as its next Chief Financial Officer. After having spent nearly seven years with PayPal, Rainey will assume the CFO role on June 6th. He is to replace Brett Biggs, who has been Walmart’s finance head since 2015 and […]
Read moreApril 14, 2022 8:04 am
Lakeland Industries Inc (LAKE), a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels, said on Wednesday that its Board of Directors had authorized a new stock buyback program, under which Lakeland will repurchase up to $5 million of its outstanding common stock. The new […]
Read moreApril 13, 2022 9:24 am
American Airlines Group (AAL) said this week it projected higher costs during the current quarter amid looming worker shortage and surging jet fuel prices globally due to Ukraine crisis. The air carrier expects a pretax loss, excluding special items, within the range of 21.3% to 22.6% during the quarter. American Airlines said it now expected […]
Read moreApril 13, 2022 7:27 am
German manufacturer Bosch said on Tuesday that it had halted production at two facilities in China – at a Thermotechnology plant in Shanghai and at an automotive components site in Changchun in Jilin province, as it sticks to government policies aimed to restrain the spread of COVID-19. Two other auto parts facilities, in Shanghai and […]
Read moreApril 12, 2022 10:30 am
Goldman Sachs Group Inc (GS) announced on Monday the acquisition of Netherlands-based asset manager NN Investment Partners in a deal valued at EUR 1.7 billion ($1.9 billion). Previously part of NN Group, NN Investment Partners will be integrated into Goldman Sachs Asset Management. The acquisition of NN Investment Partners is to bring Goldman Sachs’s assets […]
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