14 May

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Hyundai to invest $7.4 billion in U.S. by 2025, with electric cars in focus By Reuters

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(Reuters) -South Korea's Hyundai Motor Group said on Thursday it planned to invest $7.4 billion in the United States by 2025 to produce electric vehicles, upgrade production facilities and further its investment in smart mobility solutions. Hyundai's announcement comes as U.S. President Joe Biden's administration prioritized a push toward electric cars, aiming to replace the 650,000 vehicles in federal fleets with U.S.-made electric vehicles. In January, Biden also signed an executive order aimed at imposing tougher rules on government procurement practices to increase purchases of American-made products, strengthening domestic manufacturing and create markets...

14 May

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Amazon seeks renewable power for Japan data centres – Nikkei By Reuters

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TOKYO (Reuters) - Amazon.com Inc (NASDAQ:AMZN) is in talks with Japanese power utilities and trading houses to build a renewable power plant in Japan to procure clean energy for its local data centres, the Nikkei reported late on Thursday. The U.S. online retail and tech giant is seeking ways to procure electricity over the long term from exclusive renewable energy power stations, the Nikkei said. A Japanese trading house is considering supplying electricity to Amazon from an off-shore wind farm to be built in Japan if it wins in the government auction that began last year,...

14 May

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Chip shortage to cost automakers $110 billion in revenues in 2021 – AlixPartners By Reuters

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(Reuters) - The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, up from a prior estimate of $61 billion, consulting firm AlixPartners said, as it forecast the crisis will hit the production of 3.9 million vehicles. The chip crunch has driven home the need for automakers to be "proactive" right now, and create "supply-chain resiliency" longer term to avoid disruptions in the future, the firm said on Friday. Automakers have in the past had direct supply agreements with producers of certain raw materials, including precious metals such as palladium and...

14 May

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Dollar rally pauses as investors take stock of inflation anxiety By Reuters

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By Hideyuki Sano TOKYO (Reuters) - The dollar took a breather on Friday but looks set to post weekly gains against a basket of currencies as investors try to assess the risk of U.S. inflation rising faster than expected and prodding the Federal Reserve to hike interest rates sooner. A strong reading on U.S. wholesale prices and jobless claims on Thursday failed to spark a renewed uptick in Treasury yields, which some traders put down to the market already pricing in a degree of inflation worries. Moreover, the Federal Reserve has been sticking to its script...

14 May

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Stocks rebound as Fed officials calm inflation fears By Reuters

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By Kevin Buckland TOKYO (Reuters) - Japanese shares led a rebound in Asian markets on Friday, building on the lead from investors on Wall Street snapping up stocks that would benefit most from an economic recovery. The rally interrupted a three-day rout for stocks globally, as market jitters over accelerating U.S. inflation were calmed by Federal Reserve officials reiterating that price pressures from the reopening of the economy would prove transitory. Japan's Nikkei jumped 1.3%, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.6%, Chinese blue chips rose just 0.1%, while Australia's benchmark...

14 May

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Commodity stocks, inflation worries drag FTSE 100 to over 5-week low By Reuters

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By Shivani Kumaresan and Devik Jain (Reuters) -London's FTSE 100 fell on Thursday, dragged down by losses in heavyweight commodity stocks and Burberry Group (LON:BRBY), while fears of a spike in inflation as the economy recovers hurt demand for equities. The blue-chip index slipped 0.6% to its lowest level since April 7. Miners such as Rio Tinto (LON:RIO), Anglo American (LON:AAL), and BHP Group and oil majors BP (LON:BP) and Royal Dutch Shell (LON:RDSa) were among the biggest drags, tracking lower crude and commodity prices. [O/R][MET/L]...

14 May

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AMC Pops On Raising $428 Million In Fresh Equity By Investing.com

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By Dhirendra Tripathi Investing.com – AMC Entertainment (NYSE:AMC) shares jumped 17% Thursday after the company completed the raising of $428 million in fresh equity. The company raised that money before commissions and fees at an average price of $9.94 per share. The stock is 20% higher than that level. The sale of 43 million at-the-market shares completes the program announced in April. AMC, the largest movie exhibition company in the U.S. and Europe, was amongst the worst suffering businesses in the last four quarters as the pandemic kept its multiplexes shut. The stock has been amongst...

14 May

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Exclusive-India’s most populous state to spend up to $1.36 billion on COVID shots amid shortage By Reuters

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By Krishna N. Das NEW DELHI (Reuters) - India's most populous state will spend up to $1.36 billion to buy COVID-19 shots and held early talks this week with companies such as Pfizer (NYSE:PFE) and the local partner of the maker of Russia's Sputnik V, a state official said on Thursday. The move by Uttar Pradesh, home to more people than Brazil, comes as many Indian states curtail vaccinations due to severe shortages amid a record surge in coronavirus infections, with India recording more than 4,000 deaths for a second straight day as its...

14 May

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UK’s O2 to pay staff bonus ahead of Virgin Media merger By Reuters

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LONDON (Reuters) - British mobile operator O2 said on Thursday it would pay its staff a 1,930 pound ($2,709) bonus as it reported record high earnings for the first quarter, ahead of its merger with Liberty Global (NASDAQ:LBTYA)'s Virgin Media. Mark Evans, chief executive of Telefonica-owned O2, said the efforts of the company's 6,500 staff during the pandemic had driven earnings and pushed the number of connections on its network up to 36.6 million, also a record high, in the January-March quarter. Earnings were also boosted by more direct distribution and increased use of digital channels...

14 May

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Lumber Prices Hover Below Record in Wild Trading as Demand Roars By Bloomberg

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(Bloomberg) -- U.S. lumber futures hovered below a record high in wild trading, but nonstop demand from builders combined with tight supplies means the rally may be far from over. July futures rose by the exchange’s maximum daily trade limit on Thursday but then dropped to limit-down levels, all within two hours. The most-active July contract traded 2.7% lower at $1,453 per 1,000 board feet at 11:50 a.m. on the Chicago Mercantile Exchange after reaching an all-time high of $1,733.50 on Monday. Lumber prices have soared in the past year amid an unexpected surge in house...

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Hyundai to invest $7.4 billion in U.S. by 2025, with electric cars in focus By Reuters

Amazon seeks renewable power for Japan data centres – Nikkei By Reuters

Chip shortage to cost automakers $110 billion in revenues in 2021 – AlixPartners By Reuters

Dollar rally pauses as investors take stock of inflation anxiety By Reuters

Stocks rebound as Fed officials calm inflation fears By Reuters

Commodity stocks, inflation worries drag FTSE 100 to over 5-week low By Reuters

AMC Pops On Raising $428 Million In Fresh Equity By Investing.com

Exclusive-India’s most populous state to spend up to $1.36 billion on COVID shots amid shortage By Reuters

UK’s O2 to pay staff bonus ahead of Virgin Media merger By Reuters

Lumber Prices Hover Below Record in Wild Trading as Demand Roars By Bloomberg

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