On Wednesday, Royal Dutch Shell said, it expects its first-quarter adjusted earnings to take a hit of up to $200 million due to an extreme cold snap in Texas in the quarter. In a guidance update ahead of its first-quarter… Read More ›
sales
Jim Bell resigns as GameStop’s CFO
In a statement GameStop said, its Chief Financial Officer Jim Bell will be stepping down next month with the video game retailer saying, it is increasingly focusing on shifting into technology-driven sales. GameStop reiterated that Bell’s resignation was not due… Read More ›
Chinese EV maker Xpeng Inc secures $2 billion credit facility for expanding manufacturing and sales
On Tuesday, Chinese electric vehicle maker Xpeng Inc said, it has secured a $2 billion (12.8 billion yuan) credit line from five Chinese banks for expanding its manufacturing and sales. New York-listed Xpeng, which has a market value of $35… Read More ›
China leverages COVID-19 – only major economy to recover from pandemic, auto sales surge
On Friday, China’s industry body stated, vehicles sales in the country is set to touch 25 million units in 2020. The development underscores the interesting phenomena in the world’s biggest vehicle market where the auto industry has recovered from the… Read More ›
U.S. Congress notified of aerial drones sales worth $5 billion to Taiwan
In a statement, the Pentagon said, it has formally notified the U.S. Congress of impending sales of four sophisticated U.S.-made aerial drones to Taiwan. The notification is the step before finalizing the sale of weapons to other countries. Washington expects… Read More ›
British car parts will attract EU tariffs, with or without a deal: BBC
In a report the BBC said, the UK has so far failed to persuade the EU to accept car parts from Japan and Turkey as British when they are used in Britain, thus implying that such automotive exports from Britain… Read More ›
Fashion retailer Inditex returns to profit in Q2
Zara’s owner, Inditex, a fashion retailer, has reported quarterly profits in the three months from May to July even as Wuhan corona virus-wary consumers stayed away from city center shopping districts; sales however were down by 31%, compared to the… Read More ›
Daniel Kamensky, Marble Ridge Capital LP’s founder, charged with fraud over Neiman Marcus’ bankruptcy
In a statement, the U.S. Department of Justice said, it has charged Daniel Kamensky, New York-based hedge fund Marble Ridge Capital LP’s founder, with pressuring a rival not to bid for assets related to Neiman Marcus’ bankruptcy so that he… Read More ›
Australia’s ioneer Ltd wins two boric acid supply contracts for flagship U.S. project
On Thursday, Australia’s ioneer Ltd stated, it has won two contracts for the distribution and sales of boric acid from its flagship Nevada-based U.S. project. The contracts with Kintamani Resources and Bangladesh-based Boron Bazar, will each be valid for three… Read More ›
Nasdaq to heighten IPO listing transparency, place minimum value on size of IPO
According to sources familiar with the matter at hand, Nasdaq Inc is set to unveil stricter regulations on initial public offerings (IPOs). The move is aimed at bringing increased transparency, especially for some Chinese companies, who want to debut on… Read More ›
