February 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 […]
Read moreFebruary 16, 2022 10:21 am
General Motors Co (GM) announced yesterday that it would extend a production halt to its Chevrolet Bolt electric vehicle until early April after a recall. Last August the company widened a recall of the Bolt to over 141,000 vehicles so that it can replace battery modules following multiple reports of fires in parked vehicles. “We […]
Read moreFebruary 16, 2022 7:19 am
The China Passenger Car Association said earlier this week Tesla Inc (TSLA) had sold 59,845 China-produced vehicles in January. That followed 70,847 China-made vehicles sold in December. Tesla is manufacturing Model 3 sedans and Model Y Sport-utility vehicles at its Shanghai facility. The CPCA said China-based passenger car sales totaled 2.11 million units in January, […]
Read moreFebruary 14, 2022 12:41 pm
Stellantis said last week that it would recall 19,808 plug-in hybrid minivans and advised owners to refrain from recharging them, as it had received reports of 12 cases of fire eruption in parked vehicles. The recall is to affect Chrysler Pacifica Hybrid vehicles manufactured in 2017 and 2018. 16,741 vehicles will be recalled in the […]
Read moreFebruary 11, 2022 8:11 am
Linde PLC (LIN) said it forecast a 10% to 13% growth in its full-year adjusted earnings per share, as it reported a higher-than-anticipated fourth-quarter profit yesterday. The company, which supplies gases such as oxygen, nitrogen and hydrogen to factories and hospitals, said it would achieve the EPS objective through higher pricing, strong volumes and productivity […]
Read moreFebruary 10, 2022 7:41 am
Honda Motor Co Ltd (7267) on Wednesday revised up its full-year operating profit forecast despite continuing global semiconductor shortage, as results were aided by cost-cutting efforts and a favorable exchange rate of the Japanese Yen. For the year to March 31st, Honda now expects an operating profit of JPY 800 billion ($6.93 billion). Still, the […]
Read moreFebruary 9, 2022 10:27 am
Stellantis unveiled earlier this week its new Alfa Romeo Tonale compact Sport-utility vehicle, as it seeks to bolster its presence in the premium market and to introduce electrified and interconnected vehicles to its lineup. Named after an Alpine pass in northern Italy, the new SUV is meant to compete with some of the most popular […]
Read moreFebruary 9, 2022 8:14 am
According to a report by business newspaper Expansión, citing unidentified sources, telecom operator Orange SA (ORAN) is exploring the merger of its Spanish division, which is the second largest in the country, with domestic competitor MasMovil. The resulting company is expected to come close in size compared to leading operator Telefonica and overtake Vodafone, which […]
Read moreFebruary 8, 2022 7:29 am
Despite the global semiconductor shortage, Porsche AG expects another record year for vehicle sales, the luxury auto maker’s sales and marketing chief said in an interview with industry magazine Automobilwoche. Porsche, which is part of Volkswagen, reported an 11% surge in sales last year to 301,915 vehicles. This would mean the company could achieve sales […]
Read moreFebruary 7, 2022 8:06 am
Toshiba Corp (6502) announced on Friday plans to invest around JPY 125 billion ($1.09 billion) to more than double production of power management semiconductors in an attempt to better compete with power chip manufacturers such as Infineon Technologies AG. Toshiba said it would establish a cutting-edge 300-millimeter fabrication facility in central Japan to produce power […]
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