Reported about 1 month ago
Bank of America has appointed Satish Arcot from JPMorgan Chase as the new managing director to lead its capital markets division in India, aiming to strengthen its investment banking presence in the region. Arcot, who has two decades of financial services experience, will be based in Mumbai and joins amidst a series of leadership changes within the bank, following the departure of senior investment bankers last November due to misconduct allegations.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
Turkey's Competition Board has initiated an investigation into The Coca-Cola Company to determine if it has violated competition laws. Preliminary findings suggest that Coca-Cola may have engaged in practices that limited rival brands' ability to sell products in retail outlets. The inquiry will also assess Coca-Cola's compliance with previous commitments made to the board in 2021.
Source: YAHOO
Reported about 1 month ago
AbbVie Inc. has received FDA approval to expand the use of Mavyret, its oral antiviral drug for treating Hepatitis C, for both adults and children aged three and older. The updated label allows Mavyret to be used for patients without cirrhosis or with compensated cirrhosis, enabling treatment completion in eight weeks. This decision stems from encouraging Phase 3 study results demonstrating the drug's safety and effectiveness for acute Hepatitis C cases.
Source: YAHOO
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
Airo Group Holdings Inc. experienced a remarkable 140% rise in its share price during its public debut after raising $60 million in its initial public offering. The stock's volatility led to a peak increase of 291% before stabilizing at $24 per share. The aerospace and defense company, which focuses primarily on drone production, has quickly gained significant market value and aims to begin manufacturing military drones in the U.S. to support government contracts.
Source: YAHOO
Reported about 1 month ago
Following Israel's attacks on Iran, oil and gold prices have sharply increased while stock markets have declined. Gold prices rose nearly 1.5% to $3,434 an ounce, nearing its record, while Brent crude oil surged by over 7%. The ongoing conflict has caused major stock indices to drop, particularly in the aviation sector, as fuel supply concerns mount. The geopolitical escalation has raised fears of disruption in the vital Strait of Hormuz, which could further impact global oil supply and shipping rates.
Source: YAHOO
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
Oil futures saw a significant rise following Israel's military actions against Iran, yet no oil facilities in Iran were reported to be affected. Ultra low sulfur diesel jumped to $2.3587 per gallon, marking its highest settlement since late February, while Brent crude and West Texas Intermediate also experienced notable price increases. Despite fears of potential disruptions, analysts expressed skepticism about an actual closure of the Strait of Hormuz, vital for global oil transport, emphasizing market reactions driven more by speculation than immediate supply threats.
Source: YAHOO
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
Tesla's stock rose 10.3% this week, recovering from a dip following a public spat between CEO Elon Musk and President Trump, which ended when Musk apologized for his comments. However, the anticipated launch of Tesla's robotaxis in Austin, Texas, has been postponed from June 12 to June 22, raising concerns as the company faces declining sales.
Source: YAHOO
Reported about 1 month ago
Starbucks Corporation has announced a nationwide price reduction for various iced beverages in China, averaging a decrease of 5 yuan (approximately $0.70), effective June 10. This strategy aims to make drinks, including non-coffee options and Frappuccinos, more affordable as competition intensifies and consumers become cautious about spending amid economic uncertainties. While the coffee chain aims to attract more afternoon customers rather than engage in a price war, it is also considering further operational adjustments in the Chinese market.
Source: YAHOO
Reported about 1 month ago
Accenture has announced that it has trained 500,000 employees in generative artificial intelligence to meet the increasing demand for AI consulting services. CEO Julie Sweet reported a significant revenue growth related to generative AI, rising from $300 million to $2.6 billion in six months, highlighting the company's efforts to enhance operational efficiency by automating routine tasks typically performed by junior staff. This initiative allows consultants to focus more on mentorship and strategic work.
Source: YAHOO
Reported about 1 month ago
NuScale Power's stock jumped 12.9% this week, driven by an executive order from President Trump to boost nuclear energy capacity and optimism surrounding nuclear power's potential role in meeting rising electricity demands. Despite its impressive stock performance and a market cap of $11 billion, the company currently does not generate revenue and has no immediate projects lined up, raising concerns about its long-term viability. Investors are advised to proceed with caution.
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: WSJ
Reported about 1 month ago
Aurora has joined forces with On the Road Garage to create a training program aimed at equipping technicians with the skills needed for autonomous vehicle maintenance. This initiative, named 'OTR Advanced Vehicle Technology—Powered by Aurora', will provide hands-on training and pathways to industry credentials, addressing the shortage of qualified technicians for the complex systems in autonomous vehicles. The collaboration aims to promote equitable access to emerging transportation technologies and help meet the evolving demands of the industry.
Source: YAHOO
Reported about 1 month ago
Lowe's Companies, Inc. plans to open between five and ten new stores in 2025 as part of a revised growth strategy, differing from its previous goal of 10 to 15 stores annually. The home improvement retailer has already launched two new stores in Texas and reopened one in North Carolina, with more openings expected in Texas and Arizona later this year. Starting in 2026, they aim to revert to their original expansion target.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: INVESTORS
Reported about 1 month ago
Defense stocks saw an increase on Friday following Israel's airstrikes in Iran, which escalated tensions in the region. Northrop Grumman, Lockheed Martin, and RTX stocks rose significantly as investors reacted to the potential for broader conflict. Despite overall declines in U.S. stocks, defense companies have shown strong performance over the past year, with notable growth in their stock prices.
Source: YAHOO