Tech stocks are leading the way, with the Nasdaq jumping 3% this morning. Rivian Automotive (NASDAQ: RIVN) is soaring 15.2% as of 11:16 a.m. ET. Lucid Group (NASDAQ: LCID) shares are also higher, jumping 12.3% at that time.
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Recently, Jingxi Cross-border E-commerce Experience Center & Jingxi E-commerce Public Service Center in Baise, Guangxi Zhuang Autonomous Region was inaugurated. This new model of cross-border e-commerce will help reduce the operation and management costs of cross-border trade enterprises, improve the facilitation level of cross-border trade, and also help Jingxi characteristic agricultural products "go global, expand its markets, and sold globally".
Euro zone industrial production in June grew three times more than expected, data showed on Friday, mainly thanks to a jump in the output of capital goods. The European Union's statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 0.7% month-on-month in June for a 2.4% year-on-year increase. Eurostat said that the production of capital goods, which include things like machinery, equipment, vehicles or tools, rose 2.6% on the month and 7.6% in annual terms.
More than half of Canadians believe the metaverse will be part of everyday life within the next decade, study says
Russia is considering buying the currencies of "friendly" countries such as China, India and Turkey to hold in its National Wealth Fund (NWF), having lost the ability to buy dollars or euros due to sanctions, the central bank said on Friday. The bank said it was sticking to the policy of a free-floating rouble exchange rate but highlighted that it was important to reinstate a budget rule which diverts excess oil revenues into the country's rainy day fund. In a report on its monetary policy for 2023-2025, the central bank said various options on how to return to the fiscal rule and replenish the NWF are now being discussed, taking into account the Western sanctions against Russia over its actions in Ukraine.
Ensemble Montréal is demanding better protection for the Monarch butterfly. The party's elected representatives are asking the municipal administration to intensify pressure on the Government of Canada to protect lands north of the Montréal airport in perpetuity, working in collaboration with Montréal, the borough of Saint-Laurent and the city of Dorval.
Nigeria's President Muhammadu Buhari has withheld his initial approval of Exxon Mobil's sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent. Buhari on Monday consented to the $1.28 billion transaction, only for the Nigerian Upstream Petroleum Regulatory Commission to say it opposed the deal, although it did not give a reason. The transaction is being closely watched by other oil majors like Shell and TotalEnergies, who have announced plans to sell some local assets.
TORONTO — Onex Corp. is reporting an earnings loss in its second quarter after its investments slipped in value. The private equity investment firm says it incurred a net loss of US$184 million in the three months ended June 30 compared with net income of US$174 million in the same period last year. Onex, which keeps its books in U.S. dollars, says the loss amounted to $2.15 per diluted share versus net earnings of 1.95 in the same quarter a year earlier. The Toronto-based company says the value
Japanese vehicle maker Hino Motors Ltd and its parent, Toyota Motor Corp, have been accused of historical misconduct in a class action lawsuit brought in the United States, Hino said on Friday. The case, in the Southern District of Florida, has been filed on behalf of those who bought or leased 2004-2021 model year Hino trucks in the United States, the company said in a statement. An investigation report this month by a company-commissioned panel said Hino, Toyota's major affiliate, had falsified emissions data on some engines going back to at least 2003, or more than a decade earlier than previously indicated.
"Electricity and gas prices started to re-accelerate, while price hikes are becoming more prevalent in goods such as processed foods," said Takeshi Minami, chief economist at Norinchukin Research Institute. Economists estimate the nationwide core CPI, which excludes volatile fresh food costs but includes energy, was 2.4% higher last month than a year earlier. Excluding periods when the indicator was skewed by effects of higher sales tax, the expected core CPI rise for July would be the fastest since August 2008.
DALLAS (AP) — Gasoline prices have dipped under $4 for the first time in more than five months — good news for consumers who are struggling with high prices for many other essentials. AAA said the national average for a gallon of regular was $3.99 on Thursday, down from the mid-June record of $5.02. However, that’s still about 80 cents higher than the average a year ago. Energy is a key factor in the cost of many goods and services, and falling prices for gas, airline tickets and clothes are giv
MEXICO CITY (Reuters) -Mexican leasing firm Unifin's debt restructuring is credit negative and could reflect tight refinancing conditions for Mexican financial institutions, Moody's rating agency said on Friday. "Unifin's restructuring and cessation of principal and interest payments will negatively affect Mexico's smaller finance institutions, whose own liquidity profiles and funding sources are strained by heightened global volatility and investors wary of Mexico's," non-bank financial institution sector, Moody's said in its report. Unifin's shares were down 7.21% in late trading Friday.
MEXICO CITY (Reuters) -The Bank of Mexico hiked its benchmark interest rate by three-quarters of a percentage point to a record 8.5% on Thursday, mirroring the U.S. Federal Reserve's most recent policy decision as inflation surged to an over two-decade high. The five board members of Banxico, as the central bank is known, voted unanimously for the second 75 basis point hike in a row, saying the board would "assess the magnitude of the upward adjustments in the reference rate for its next policy decisions based on the prevailing conditions." Analysts said that language gave its forward guidance a slightly dovish bias, moderating the tone of its prior monetary policy statement on June 23 when it said the board intended to continue raising rates and would "evaluate taking the same forceful measures if conditions so require."
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North American markets enjoyed a broad-based rally Friday, bolstered by two encouraging U.S. inflation reports earlier in the week and a lack of any other major economic news on the day to offset them. With a near-total absence of market-moving events on what was a quiet day heading into a summer weekend, the S&P/TSX composite index still gained 187.93 points to close at 20,179.81. In New York, the Dow Jones industrial average closed up 424.38 points at 33,761.05. The S&P 500 index closed up 72.
MANTARO PRECIOUS METALS CORP. (TSXV: MNTR) (OTCQB: MSLVF) (FSE: 9TZ) (the "Company") is pleased to announce that it has completed its initial diamond drill program on multiple prospects at its highly prospective Golden Hill Property, located in Bolivia.
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Plunging valuations have made biotech companies tempting acquisition targets for cash-rich Big Pharma and a flurry of deals is just what the battered sector needs to turn a corner. Pfizer's $5.4 billion acquisition of Global Blood Therapeutics, which was announced on Monday, is the fourth deal in the sector since the pharma giant bought Biohaven for $11.6 billion in May, adding to optimism that large drugmakers are back in the market to pick up cheaper firms. Industry experts predict biotech firms that are closer to getting their product to market or already have a drug approved are likely to become M&A targets for large drugmakers, some of whom are staring at patent expirations of their cash cow drugs.
Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week. Tornado Cash is one of the largest crypto blenders identified as problematic by the U.S. Treasury. The Dutch public prosecutor’s office for serious fraud, environmental crime and asset confiscation (FIOD) said Tornado was suspected of having laundered more than $7 billion worth of virtual currency since it was created in 2019.
WASHINGTON (Reuters) -Delta Air Lines can temporarily cut some flights at New York's LaGuardia and John F. Kennedy airports and Ronald Reagan Washington National Airport, the U.S. Federal Aviation Administration (FAA) said on Friday. The FAA said as a condition of approval Delta "should offer customers a refund or rebook them on Delta or another carrier as needed for canceled flights at the three airports." Delta did not immediately comment.
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