Ford Motor Company confirmed late on Thursday it will halt production next week at its Flat Rock plant where it assembles the Mustang because of a shortage of semiconductor chips. The No. 2 U.S. automaker had previously said it had planned to idle the plant for two days this week. Automotive News reported the production…
Ford to Halt Production Next Week at Flat Rock Plant on Chips Shortage
Mercedes Looking at Energy Options Should Russia Turn Off the Gas: CEO
LONDON—Mercedes-Benz is looking at energy alternatives should Russia cut gas deliveries and is working closely with German authorities to ensure energy supplies, the premium carmaker’s top executive said on Friday. “Every company is looking at options for diversifying energy sources,” Chief Executive Ola Kaellenius told Reuters TV ahead of the company’s annual general meeting. “It…
Tech Under Pressure? Samsung Warns of Macro Risks Persisting Through the Year
The tech space has spearheaded the market sell-off seen since the start of the year, as evident from the more than 20 percent drop for The Invesco QQQ Trust in the year-to-date period. A host of negative catalysts have worked in unison to plot the downfall of this market-leading sector. It now appears that the negative…
Apple Predicts Lower Q3 Performance Owing to Supply Constraints, Material Shortages
April 30, 2022
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Tech giant Apple is predicting a slump in performance for its fiscal Q3, 2022 term ending in June even as the company showcased better results, on a yearly basis, during the second quarter. Apple said its forecast is based on persistent global supply chain disruptions. “We believe our year-over-year revenue performance during the June quarter…
Steve Young vs. Joe Montana: Which Superstar QB Has the Better Post-Nfl Business Career?
Hall of Fame NFL quarterback Steve Young recently made headlines off the gridiron by announcing his HGGC private equity firm is investing $300 million in registered investment advisors. Young will serve as the chair of the new platform, which will be called Aspire Holdings. Since his retirement from football in 1999, Young has earned a reputation on…
Unilever Using Rapeseed Oil Following War-Induced Shortages of Sunflower Oil
British multinational consumer goods company Unilever has altered some of its recipes to use rapeseed oil instead of sunflower oil owing to a global shortage of the latter triggered by Russia’s war against Ukraine. Edible oils are the “most significantly impacted commodity sector” that Unilever is currently dealing with, according to the company. “One of…
Here’s How Analysts Responded to Mastercard’s Q1
Analysts maintained their conviction on Mastercard Incorporated post Q1 results. Despite Mastercard’s 1Q22 10 percent broad-based beat, Barclays analyst James Fotheringham lowered estimates marginally (by as much as 2 percent) due to revenue headwinds expected from exiting Russia. Fotheringham also cut the target price to $402 (from $412) and rated the stock as Outperform. The revised 2022E guidance…
Gold Gains Over 1 Percent, but Set for Monthly Decline
Gold prices rallied 1 percent on Friday on the back of a retreat in the dollar, but the metal was set to end the month lower on bets of aggressive policy tightening by the U.S. Federal Reserve. Spot gold was up 0.7 percent at $1,908.20 per ounce by 1607 GMT. However, it was on course…
Child Hepatitis Cases Rise in UK Amid Worldwide Outbreak
The UK Health Security Agency has identified 34 confirmed hepatitis cases in children since Monday, bringing the total number to 145 amid a series of unexplained cases among children around the world. The agency said 10 children had received liver transplants but none had died. Findings suggested that the rise in sudden cases in children…
‘Warning Sign’: Experts React to 1.4 Percent Drop in US GDP
The SPDR S&P 500 ETF Trust traded higher by 2.1 percent on Thursday after the Commerce Department said U.S. GDP declined 1.4 percent in the first quarter. What Happened U.S. GDP declined 1.4 percent in the first quarter, falling well short of consensus economist estimates of 1 percent growth. Investors initially reacted positively to the…
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