Tag: Business
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Ford wants more customers to customize vehicles to boost profits as it eyes ‘Nike shoe drop’ moments
Ford is expanding its accessory and parts business in an effort to boost profits and better tap into the $53 billion U.S. automotive aftermarket industry.
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Oil prices drop after US, Iran pause fighting over weekend
LONDON , July 27 : Oil prices tumbled more than 5 per cent on Monday after the U.S. and Iran paused strikes over the weekend following two weeks of attacks, raising hopes of a diplomatic solution that would de-escalate the conflict and allow shipping to resume in the Strait of Hormuz. Brent crude futures fel
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Spain and France wildfires force more than 300,000 to flee as Macron calls crisis meeting
A gigantic wildfire is ravaging France’s Bordeaux region and spreading into Spain prompting the largest evacuation in France’s history.
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Innolight said to price Hong Kong IPO below maximum, Bloomberg News reports
July 27 : Chinese optical parts maker Zhongji Innolight is telling potential investors it will price its Hong Kong listing below the maximum, Bloomberg News reported on Monday, citing people familiar with the matter.Shenzhen-listed Innolight is set to price 54.5 million shares at HK$980 ($124.96) apiece, the
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Europe’s Eutelsat, SES set for $6 billion in US spectrum-clearing payments
(Corrects paragraph 3 to say SES’s premarket shares are seen up 8 per cent, not Eutelsat’s)July 27 : Eutelsat and SES stand to receive roughly $6.1 billion in combined payments for helping clear satellite spectrum for U.S. wireless services, they said on Monday.Eutelsat expects $504 million in pre-tax
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Bank of Japan to signal more rate hikes as price pressures build
TOKYO, July 27 : The Bank of Japan is set to keep interest rates steady on Friday but leave scope for further hikes with hawkish communication, as the economy faces mounting inflationary pressure from the Middle East war, a weak yen and robust global AI demand.The central bank, however, will likely stay ambig
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Japan considers foreign bank financing for $33 billion US power projects
TOKYO, July 27 : Japan is considering financing from foreign banks for natural gas-fired power generation projects in the United States that form part of its $550 billion U.S. investment pledge.”If financing from foreign banks materialises, it should further facilitate the procurement of foreign-currency fund
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China chipmaker CXMT’s shares surge 470% in Shangai trading debut
SHANGHAI: Shares of CXMT Corp surged nearly 470 per cent at their Shanghai debut on Monday (Jul 27) after Asia’s biggest IPO this year, catapulting the chipmaker to the top of China’s stock market by valuation despite a recent selloff in global tech stocks.The stock began trading at 49.50 yuan compared to its
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Nvidia in talks with OpenAI to guarantee $250 billion financing for data center, WSJ reports
July 26 : Nvidia is in talks to provide a roughly $250 billion financing for OpenAI as part of a massive data center project, The Wall Street Journal reported on Sunday. The guarantees from Nvidia would help the ChatGPT maker lease a 10-gigawatt project that SoftBank’s energy subsidiary is developing in sou
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Japan June services producer prices rise as Iran war keeps freight costs high
TOKYO, July 27 : Japan’s services producer price index rose 3.2 per cent in June from a year earlier, central bank data showed on Monday, a sign of broadening inflationary pressure that will keep alive market expectations for further interest rate hikes.The annual rise in the index, which tracks the price com
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