Trading Ideas

Thyssenkrupp on Wednesday said it planned to cut 640 jobs at its struggling System Engineering unit, which it put under review earlier this year. System Engineering, which makes assembly lines for the car, aerospace and battery industries, was one of three underperforming divisions the group has said needed major restructuring. “Overall we believe in the future of our automotive engineering business,” Karsten Kroos, head of Thyssenkrupp’s automotive supply business, said. …read more […]

GUANGZHOU, China/SHANGHAI (Reuters) – China’s top sport-utility vehicle maker Great Wall Motor aims to sell 300,000 of its premium brand WEY vehicles a year by 2025, its chairman said on Wednesday. The company aims to roll out the vehicles to Europe in 2021 and to North America in 2023, Wei Jianjun, chairman of Baoding-based Great Wall, said on the sidelines of the Guangzhou Autoshow. Great Wall has sold over 300,000 WEY-branded SUVs in the past 3 years. …read more […]

(Bloomberg) — Walmart Inc., wary of Amazon.com Inc.’s encroachment into the grocery space, is revamping the produce department in its U.S. stores.The nation’s biggest grocer will widen aisles, make fruit and vegetable bins more visible and consolidate organic items in one spot, it said in a blog post Wednesday. The renovations, dubbed “Produce 2.0,” will be in 800 Supercenters by the end of January and in about 3,000 stores, including smaller format Neighborhood Markets, by the end of next summer.The changes follow earlier improvements Walmart made to the quality and assortment of its produce, a key category for food retailers …read more […]

Beijing Threatens To End One Country Two Systems Hong Kong Status Quo The stage might now be set for a complete Chinese takeover of Hong Kong. According to the South China Morning Post, the Legislative Affairs Commission of the National People’s Congress Standing Committee (NPCSC) criticized the Hong Kong Supreme Court’s decision to declare the […]The post Market Morning: One Country One System, 7000 Boeing Woes, Mideast Tension, California Car Boycott appeared first on Market Exclusive. …read more […]

Apple Inc said on Wednesday it had started construction of a new campus in Austin, Texas, beside its existing facility where it makes the new MacBook Pro laptops. Apple Chief Executive Officer Tim Cook is set to give a tour of the Texas factory to U.S. President Donald Trump later on Wednesday. The company has come under fire from Trump because it makes most of its products in China. …read more […]

The company was started just four years ago but has been described by analysts as a disruptor to the dominance of Alibaba Group Holding Ltd’s Taobao and JD.com Inc over China’s retail sector thanks to its popularity among the country’s rural residents. It added that over 10,000 small and micro merchants were forced to choose between platforms. …read more […]

Bristol-Myers Squibb Co said on Wednesday a late-stage trial testing a combination of its cancer drugs missed a main goal of preventing skin cancer from recurring in a certain group of patients, sending its shares down nearly 1%. The company said the trial will continue unchanged as per the recommendation of a data monitoring committee. The trial was testing Bristol-Myers’ drugs Opdivo and Yervoy, against Opdivo alone, in patients with advanced melanoma. …read more […]

Apple Chief Executive Officer Tim Cook is set to give a tour of the Texas factory to U.S. President Donald Trump later on Wednesday. The new $1 billion, 3-million-square-foot campus will initially house 5,000 employees, with the capacity to grow to 15,000, and is expected to open in 2022, Apple said. Apple currently employs about 7,000 employees in Austin. …read more […]

New York City’s top pension official has called on three major U.S. utilities to name independent board chairs, pressuring them to “decarbonize” their operations by 2050 and underscoring how power companies have split on whether to set such goals. New York City Comptroller Scott Stringer, who oversees about $208 billion in retirement assets, recently filed shareholder resolutions at Southern Co, Duke Energy Corp and Dominion Energy Inc. The resolutions call for shareholder votes on whether to name independent individuals to chair boards currently led by the chief executive of each company. …read more […]

Target’s third quarter earnings are out. Here’s the analysis you need to know. …read more […]

Emirates unveiled an $8.8 billion order for 30 Boeing 787-9 Dreamliners after intense last-minute talks at the Dubai Airshow on Wednesday, paving the way for a reduction in orders for the delayed 777X airliner. The order shake-up completes a fleet review by the world’s largest buyer of wide-body long-haul jets at its home airshow, the Middle East’s biggest, where Emirates also revised deals with Boeing’s European rival Airbus. Emirates tentatively ordered 40 Dreamliners in 2017, but “tough” talks to finalise the order this week had hinged on negotiations over the fate of a massive separate order for 150 …read more […]

Swedbank pledged on Wednesday to conclude an internal probe into alleged money laundering at the Swedish lender by early next year, and said it was unaware of any breaches of U.S. sanctions after a broadcaster alleged such a lapse. “If there has been unethical behaviour … we should of course get the bottom of it,” Swedbank CEO Jens Henriksson said in a statement. “The internal investigation is expected to be concluded in early 2020,” he said, adding “conclusions from the investigation will be communicated”. …read more […]

Swedbank said on Wednesday it was not aware of any violations by the bank of U.S. sanctions against Russia but said it continued to investigate money laundering after a Swedish television report that alleged such a breach. Sweden’s public service broadcaster (SVT) reported on Wednesday, in a programme aired on its website, that Swedbank may have violated U.S. sanction against Russia, citing an unnamed source. “The Bank is not aware of any OFAC violations arising out of the continuing internal investigation,” Swedbank said in a statement. …read more […]

Twitter said on Wednesday that British Prime Minister Boris Johnson’s Conservative Party misled the public by changing the name of one of its Twitter accounts to make it look like a fact checking service during a televised election debate. The Conservative Campaign Headquarters press office account, followed by nearly 76,000 users, changed its name to “factcheckUK” from its usual “CCHQPress” and switched its avatar to a white tick against a purple background. It made the change while Johnson was debating opposition leader Jeremy Corbyn, the Labour Party leader, on live television. …read more […]

(Bloomberg Opinion) — Prince Andrew’s BBC interview about his ties to Jeffrey Epstein was excruciating to watch — especially, no doubt, for the victims of the deceased financier. So bad was it that he may unwittingly have provided the next generation of Britain’s monarchy the justification it needs to streamline.The Duke of York’s effort to explain his friendship with the convicted pedophile came across as insensitive, ignorant, pig-headed and out of touch. He revealed a litany of shortcomings longer than his official title(1), neglecting to express a shred of sympathy for Epstein’s targets. The prince’s strong denial of claims that …read more […]