Month: October 2020

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(Bloomberg) — China is pressing ahead with a dollar bond sale amid growing uncertainties over U.S. elections and tensions with Washington.For a fourth straight autumn, China is looking to sell dollar notes with three-year, five-year, 10-year and 30-year maturities Wednesday, according to people familiar with the matter who aren’t authorized to speak publicly. Some of the shorter-dated bonds have lower premiums than in 2019 during the initial marketing phase of the nation’s last dollar bond sale.The country’s Ministry of Finance is seeking to raise about $6 billion via the new notes, Bloomberg reported previously. The sale had attracted orders of …read more […]

Ford Motor Company (NYSE: F) is delaying the production of its Escape hybrid plug-in SUV to 2021 after similar vehicles were recalled in Europe due to adverse incidents with a similar model, Bloomberg reported Monday.What Happened: The hybrid vehicle’s production was slated to start in spring but was postponed to summer due to the COVID-19 pandemic. Now, the manufacturing is being moved to next year, according to Bloomberg.The postponement reportedly takes place as the Detroit-based automaker reviews its European model Kuga SUV, which shares parts with the Escape — including battery and engine.”We’re moving production to next year while …read more […]

GameStop Corp (NYSE: GME) stock surged 5.89% in Tuesday’s after-market trading session. GME stock has risen 28% since last Wednesday, and its year-to-date gains are close to 88%.What Happened: On Tuesday, in a filing with the U.S. Securities and Exchange Commission, the company disclosed that Richard Mashaal’s hedge fund firm, Senvest Management LLC, purchased over 3.6 million common stock representing a 5.54% stake in GameStop last week.This followed the consumer electronics and gaming retailer entering into a multi-year partnership with tech giant Microsoft Corporation (NASDAQ: MSFT) last Thursday. Through the deal with Microsoft, GameStop hopes to improve customer experience by …read more […]

Diamondback Energy (FANG) has provided an operational update for the third quarter of 2020- and reaffirmed guidance for the fourth quarter.The company announced production of 287.3 Mboe/d (170 Mb/d oil) in line with the Street Consensus 285 Mboe/d (171 Mb/d oil). Capital spending of $281 million was above the Street’s $245 million forecast. Accrual based capital spending was $206 million.Meanwhile realized prices (including hedge impacts) of $26.22/boe came in strong due to better natural gas liquids and natural gas price realizations.During the quarter, FANG drilled 32 gross operated horizontal wells and turned 41 wells to production in the third quarter. …read more […]

Ford (F) is delaying the launch of its plug-in hybrid Escape sport-utility vehicle to 2021, reports Bloomberg. The publisher noted that thousands of similar Kuga SUVs have been recalled in Europe due to fire-related recharging problems.“We’re moving production to next year while we investigate what happened to the Kuga in Europe,” Mike Levine, a company spokesman, told Bloomberg. “None have been sold in the U.S.”According to the publisher, the Escape plug-in hybrid should have gone into production this past spring but this was postponed to summer after factories were closed for two months due to the coronavirus pandemic.The timeline has …read more […]

Semiconductor equipment maker ASML Holding NV sounded a note of caution over sales of its newest tools worth $200 million apiece on Wednesday, as it delivered better-than-expected earnings and forecast double-digit growth next year. ASML is depending on the likes of chipmakers Taiwan Semiconductor Manufacturing Co Ltd , Samsung Electronics Co Ltd and Intel Corp to sell its most advanced “EUV” or extreme ultraviolet, machines, which use energy beams to map out circuitry of computer chips. Intel said in July it was six months behind on plans to make its next generation of chips. …read more […]

Semiconductor equipment maker ASML Holding NV on Wednesday posted a better-than-expected quarterly earnings and forecast a double-digit growth for next year on strong end-demand for electronics devices. In the third quarter of 2019, ASML reported net profit of 627 million euros and sales of 3 billion euros. ASML Chief Financial Officer Roger Dassen forecast sales of 3.7 billion euros in the fourth quarter and said the company expected “low double digit” growth in 2021. …read more […]

The automaker said it recalled 20,500 Kuga PHEV vehicles in Europe last month and suspended their sale as it looks into potential concern with the high voltage battery, which in certain cases could result in a fire. “Because we share components with Kuga PHEV, including battery cells, we are moving production to next year, while we work with the battery cell supplier to resolve the issue affecting Kuga PHEV in Europe,” a company spokesman in Europe said. …read more […]

VANCOUVER, BC, Oct. 14, 2020 /CNW/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Friday, November 6, 2020 at 8:00 a. …read more […]

Apple’s iPhone 12 launch drew mixed reactions in mainland China on Wednesday, with fans cheering a 5G model for their favourite brand while others planned to wait for upcoming devices from local rivals like Huawei Technologies. The much-anticipated Apple launch comes in the wake of Chinese Android-platform brands such as Huawei and Xiaomi Corp having already rolled out higher-end 5G devices compatible with China’s upgraded telecoms networks, with the U.S. giant seen by some analysts to be late to the party. In its second-largest market by revenue, Apple’s announcement was feverishly discussed on social media. …read more […]

Trump touted the Lilly drug, along with the antibody treatment from Regeneron Pharmaceuticals Inc that he received for his COVID-19, as tantamount to a cure in a video he posted last week. The announcement comes one day after Johnson & Johnson said it was forced to pause a large high-profile trial of its experimental coronavirus vaccine because a volunteer fell ill. …read more […]

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(Bloomberg) — ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as the largest independent energy producer looks to make a bold bet on U.S. shale during an historic industry downturn.The companies could announce a deal in the next few weeks, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and talks could fall through.Concho shares fell 1.3% in New York Tuesday, closing at $44.14 and giving it a market value of about $8.7 billion. Conoco fell 2% to $34.88, for …read more […]

(Bloomberg) — Contemporary Amperex Technology Co. Ltd. and LG Chem Ltd., two of the world’s top producers of batteries for electric vehicles, have signaled they may join projects that could see $20 billion more invested in supply chains in Indonesia, according to the country’s government.The firms signed separate heads of agreement with Aneka Tambang Tbk last month aimed at manufacturing higher value products for batteries from the state-owned miner’s nickel output, said Septian Hario Seto, deputy for investment coordination and mining at the coordinating ministry for maritime affairs and investments.It’s a strategy that would involve development of new capacity for …read more […]