December 15, 2021 10:55 am
Online supermarket Ocado Retail, which represents a 50:50 joint venture between Ocado Group and Marks & Spencer, posted on Tuesday a 3.9% drop in revenue during its latest quarter, with financial results affected by labor shortages. The British company’s revenue came in at GBP 547.8 million ($723.7 million) during the fourth quarter ended on November […]
Read moreDecember 15, 2021 9:00 am
Equinor ASA (EQNR) plans to drill more oil and gas exploration wells off Norway in 2022 compared to this year in order to sustain its future cash flow, a company executive said. According to Jez Averty, Equinor’s head of exploration Norway, the company intends to drill 25 exploration wells in its domestic market next year […]
Read moreDecember 14, 2021 9:35 am
Volkswagen AG (VOWG) said earlier this week it was exploring locations for planned battery cell facilities in Spain and Eastern Europe, while the exact sites for the new gigafactories would be decided in the first half of next year. “Volkswagen intends to open two more battery cell factories in Europe by 2030,” the auto maker […]
Read moreDecember 14, 2021 8:51 am
Installed Building Products Inc (IBP) said on Monday that it had agreed to acquire AMD Distribution Inc, based in Spring Valley, Minnesota. Financial details of the agreement were not disclosed. “AMD’s scale and experience serving our core insulation markets provides IBP with a distribution platform, which further diversifies our revenue mix, end-markets, and geographic footprint. […]
Read moreDecember 13, 2021 9:41 am
Volvo Cars (VOLCARb) said last Friday that it had embarked on an investigation into a cyber security breach and the theft of some research and development data which might have an impact on the auto maker’s operation. “Investigations so far confirm that a limited amount of the company’s R&D property has been stolen during the […]
Read moreDecember 12, 2021 5:26 pm
Sony Corp’s (6758) wholly owned gaming unit said last Friday that it would acquire “God of War” developer Valkyrie Entertainment. However, the financial details of the deal were not disclosed. This will be Sony Interactive Entertainment’s fifth acquisition so far in 2021, after it bought Nixxes Software, “Returnal” developer Housemarque, Bluepoint Games and Firesprite. After […]
Read moreDecember 9, 2021 12:14 pm
Ford Motor Co (F) said earlier this week it would invest as much as $900 million in upgrading its facilities in Thailand that assemble the Ranger pickup truck and the Everest SUV. As part of the upgrade, the company will almost double the number of robots at its Thai manufacturing plant and at AutoAlliance Thailand, […]
Read moreDecember 9, 2021 10:59 am
Global investment firm KKR said on Wednesday that it had launched Stellar Renewable Power, a new platform that will source, develop and operate utility-scale solar plants and storage facilities on behalf of KKR’s Asset-Based Finance strategy. Vijay Venkatachalam, a renewable energy expert with vast experience in development of utility-scale solar energy projects, will head the […]
Read moreDecember 9, 2021 9:19 am
Southwest Airlines (LUV) said earlier this week it was projecting an improvement in its fourth-quarter operating revenue growth amid easing curbs and progressing vaccination campaigns. The air carrier now forecasts a drop of 10% to 15% in its operating revenue compared with a prior forecast of a 15% to 25% decrease. The shares of Southwest […]
Read moreDecember 8, 2021 1:20 pm
Hut 8 Mining Corp (HUT), one of North America’s largest, innovation-focused digital asset mining pioneers, said on Tuesday that it had signed an agreement with Foundry Digital LLC to buy 2,505 MicroBT M30S machines, which are currently installed at Hut 8’s site in Medicine Hat, Alberta, Canada. The transaction, which is expected to be finalized […]
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