February 17, 2021 8:08 am
Adidas AG said on Tuesday that it was considering the divestiture of underperforming sports brand Reebok. Adidas first bought the US fitness label in 2006 in a deal valued at $3.8 billion in an attempt to better compete with rival Nike Inc. As of 8:03 GMT on Wednesday the shares of Adidas AG were losing […]
Read moreFebruary 16, 2021 8:24 am
Mercedes-Benz USA, Daimler AG’s US unit, announced over the past weekend that it would recall 1.29 million vehicles, as their software may not communicate the correct vehicle location in case a crash occurs. The German company added it was preparing a software update, which will be installed by dealers or over-the-air. Daimler also said it […]
Read moreFebruary 12, 2021 8:43 am
According to a report by the Wall Street Journal earlier this week, Best Buy Co Inc (BBY) has informed employees of some incoming job cuts at its stores, as the novel coronavirus pandemic forces retailers to become more reliant on online shopping than ever before. “Customer shopping behavior will be permanently changed in a way […]
Read moreFebruary 11, 2021 8:21 am
According to a Wednesday report by Nikkei Asian Review, Apple Inc (AAPL) has tied up with Taiwan Semiconductor Manufacturing Co (TSMC) over the development of micro OLED displays, which the tech giant intends to use in its next augmented reality devices. Apple shares closed lower for a second consecutive trading session on NASDAQ on Wednesday. […]
Read moreFebruary 10, 2021 10:33 am
BlackRock Inc (BLK) on Tuesday announced the appointment of Rachel Lord as its new Chairman of Asia Pacific business. Lord’s appointment is effective from May 1st, subject to regulatory approval, the asset manager said. BlackRock shares closed higher for a second consecutive trading session in New York on Tuesday. The stock edged up 0.32% ($2.35) […]
Read moreFebruary 10, 2021 8:11 am
Comtech Telecommunications Corp (CMTL) said on Tuesday that its Mission-Critical Technologies group had been awarded a contract from the US Army worth up to $235.7 million to ensure provision of ongoing system refurbishments, sustainment services and baseband equipment. The agreement is expected to support the sustainment of the Army’s AN/TSC-198 Secret Internet Protocol Router and […]
Read moreFebruary 9, 2021 8:40 am
Morgan Stanley (MS) said on Monday that it had initiated a long position in the Russian Rouble against a 50-50 basket of the US Dollar and the Euro, as it targets a 6% surge in Russia’s currency. Morgan Stanley shares closed higher for a third consecutive trading session in New York on Monday. The stock […]
Read moreFebruary 5, 2021 8:53 am
Ralph Lauren Corp (RL) on Thursday projected a sharper-than-anticipated decrease in its fourth-quarter revenue, as it cited new lockdowns in key markets such as Europe and Japan. The company said that it forecast a mid-to-high single-digit drop in its revenue for the fourth quarter of fiscal 2021, while a consensus of analyst estimates had pointed […]
Read moreFebruary 4, 2021 8:31 am
According to an announcement by the US Department of Labor earlier this week, Alphabet Inc’s Google will seek to settle allegations, that it underpaid female employees and unfairly passed over female and Asian candidates for job openings, by spending $3.8 million. Alphabet shares closed higher for a third consecutive trading session on NASDAQ on Wednesday. […]
Read moreFebruary 3, 2021 9:31 am
Ford Motor Co (F) said earlier this week that it intended to invest $1.05 billion in its manufacturing operations in South Africa. The amount above includes $683 million for technology upgrades and new facilities at Ford’s Silverton-based plant and $365 million for tooling upgrades at major supplier factories. Ford shares closed higher for a second […]
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