News

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Wed, 03 Mar 2021 15:54:37 GMT

GM prolongs car production cuts

On Wednesday, General Motors stated it was further prolonging its vehicle output cuts at three US manufacturing plants due to the global shortage of semiconductor chips.

Wed, 03 Mar 2021 15:16:49 GMT

US private payrolls rise less than expected

US private payrolls missed expectations in February by increasing less than projected due to job losses in construction and manufacturing, suggesting that the labour market was struggling to rebound.

Wed, 03 Mar 2021 14:37:46 GMT

Boeing raises concerns over new Airbus jet design

Boeing raised concerns on Wednesday over the new Airbus narrow-body A321XLR aircraft's desing, claiming its fuel tank is likely to pose fire risks.

Wed, 03 Mar 2021 13:31:37 GMT

Volvo to go fully electric by 2030

Volvo is planning to go all electric by 2030, joining other carmakers' plan to gradually abandon fossil-fuel engines.

Wed, 03 Mar 2021 12:15:20 GMT

Stellantis views rebound this year

On Wednesday, Stellantis stated it expected a rebound in its profit margins in 2021 from cost cuts and low global vehicle inventories, but worried about the impact from the semiconducter chip shortage.

Wed, 03 Mar 2021 10:37:06 GMT

Artisan seeks new chairman for Danone

On Wednesday, the US investment firm Artisan Partners stated Danone needed to name an independent chairman, putting more pressure on the current chairman of the company - Emmanuel Faber.

Wed, 03 Mar 2021 08:55:13 GMT

US Dollar declines

On Wednesday, the US Dollar lost value against peer currencies, as the US Dollar Index retraced back from the 91.40 level.

Wed, 03 Mar 2021 08:43:56 GMT

US utilities tie up to build EV chargers

Six top US utilities revealed their plan to build electric car fast charging stations to connect the US major highway systems.

Wed, 03 Mar 2021 07:46:53 GMT

Exxon plans 7% job cuts

Exxon Mobil is planning to cut 7% of the company's workforce in Singapore, where its biggest petrochemical and oil refining complex is based, due to "unprecedented market conditions" caused by the pandemic.

Wed, 03 Mar 2021 07:35:19 GMT

Samsung to build $17B US chip plant

Samsung Electronics is considering four sites in the United States to build its new $17B chip plant as part of its expansion, Reuters reported.

Wed, 03 Mar 2021 05:56:10 GMT

Crude oil prices edge lower

On Wednesday, crude oil prices edged lower. Brent crude futures declined by 0.10% to $62.63 per barrel at 01:22 GMT, while the US WTI crude dipped 18 cents or 0.30% to $59.57.

Wed, 03 Mar 2021 05:00:44 GMT

Asian shares edge higher

Asian shares soared on Wednesday, as MSCI's broadest index of Asia-Pacific shares outside Japan surged by 0.44%, Australian shares were up 0.62%, while Japan's Nikkei index rose by 0.03%.

Wed, 03 Mar 2021 04:03:54 GMT

Abercrombie & Fitch beats profit forecast

On Tuesday, Abercrombie & Fitch Co reported a better-than-expected first-quarter profit and said that it would resume share buybacks.

Wed, 03 Mar 2021 02:32:06 GMT

OPEC's President comments on oil market

On Tuesday, the Organization of the Petroleum Exporting Countries President Diamantino Azevedo said that crude oil prices are relatively stable.

Tue, 02 Mar 2021 20:44:59 GMT

Instacart doubles its valuation to $39B

Instacart's valuation increased to $39B in less than six months with a $265M fundraising round from current investors, as the grocery delivery firm benefited from online orders surge.

Tue, 02 Mar 2021 20:09:54 GMT

BaFin investigates EY after Wirecard scandal

The German financial regulator BaFin investigated EY's suitability as an auditor after the scandal with payment services company Wirecard, Handelsblatt newspaper reported.

Tue, 02 Mar 2021 18:54:17 GMT

Merck to partner with J&J to make COVID vaccine

The US President Joe Biden will announce on Tuesday that Merck & Co and Johnson & Johnson would partner to make J&J's single-shot coronavirus vaccine, a top White House official stated.

Tue, 02 Mar 2021 17:53:58 GMT

G20 major economies agree to raise IMF funding

The International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday that G20 leaders have agreed to boost the funding for IMF.

Tue, 02 Mar 2021 17:17:52 GMT

Target seeks to speed up delivery

Target Corp is planning an investment worth $4B annually during the following several years with the intention to launch new store openings and reduce delivery times for its online orders.

Tue, 02 Mar 2021 16:25:06 GMT

OPEC sees general oil market forecast as positive

On Tuesday, OPEC's secretary general stated that the group was expecting the general oil market's forecast to be positive, with the last year's uncertainty seemed to ease.

Tue, 02 Mar 2021 15:33:45 GMT

Wix.com acquires SpeedETab

On Tuesday, Wix.com stated it had bought SpeedETab, the US payment and ordering technology provider, seeking to boost its restaurant platform.

Tue, 02 Mar 2021 14:30:57 GMT

Zoom shares soar on robust outlook

Zoom Video Communications is expecting the current-quarter revenue to top forecasts, seeing millions of people to keep using its video-conferencing service, sending the company's shares up 10%.

Tue, 02 Mar 2021 13:01:46 GMT

TeamViewer buys Upskill

On Tuesday, TeamViewer, Germany's remote connectivity software firm, stated it had acquired the US augmented reality software company Upskill, not disclosing financial details of the deal.

Tue, 02 Mar 2021 12:37:28 GMT

China's Nio reports wider-than-expected loss

China's Nio posted a bigger-than-anticipated loss, flagging a slowing electric vehicle deliveries pace in the ongoing quarter, sending the US firm's shares down 7%.

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