These stocks have soared since the beginning of 2020, and they could more than double over the coming 12 months, according to high-water price targets.
British car production last year fell to its lowest since 1956, largely due to a global shortage of semiconductor chips that caused automakers to slow or shutter plants while waiting for parts, an industry group said on Thursday. The Society of Motor Manufacturers and Traders (SMMT) said production fell 6.7% from 2020 to 859,575 vehicles and was 34% below the pre-pandemic year 2019. "Overall, this was a deeply depressing year," SMMT chief executive Mike Hawes told reporters.
(Reuters) -Abbott Laboratories on Wednesday beat quarterly profit and sales estimates, aided by robust sales of COVID-19 test kits and strong demand for its diagnostics products, but forecast lower-than-expected COVID-19 testing sales in 2022 due to uncertainties around the future of the pandemic. Abbott said it expects $2.5 billion in sales of COVID-19 test kits in the early part of this year. The company will update its test kit estimates on a quarterly basis.
Bank of America Corp said on Tuesday that it will give around 97% of its employees special compensation awards, most of which will be delivered in restricted stock units, according to an internal memo seen by Reuters. The total value of the awards is around $1 billion, reflecting the 47% increase in Bank of America's stock price last year, bank Chief Executive Brian Moynihan wrote in the note to employees. "For this year, the estimated value of these awards is multiple times higher than the prior cash awards," Moynihan wrote.
LONDON (Reuters) -Oil extended gains to seven-year highs above $90 a barrel on Thursday as the Ukraine crisis outweighed signs that the U.S. Federal Reserve will tighten monetary policy. Brent crude futures were up 89 cents, or 1%, at $90.85 a barrel by 1217 GMT. Crude prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West.
The Canadian dollar edged higher against the greenback on Tuesday as some of the recent disquiet in financial markets eased a notch and investors prepared for a potential interest rate hike by the Bank of Canada. The loonie was trading 0.2% higher at 1.2615 to the U.S. dollar, or 79.27 U.S. cents, after trading in a range of 1.2598 to 1.2669. On Monday, it touched its weakest intraday level in more than two weeks at 1.2701 amid equity market turbulence.
THE HAGUE, Netherlands (AP) — Prime Minister Mark Rutte further eased the Netherlands' coronavirus lockdown, allowing bars, restaurants, museums, theaters and other venues to reopen from Wednesday for the first time this year. But Rutte warned that the move wasn't without risks. “We are taking a big step today to unlock the Netherlands while the infections numbers are really going through the roof,” Rutte said Tuesday. The announcement wasn't all good news for the beleaguered hospitality and cul
TORONTO — The Canadian Bankers Association has named Anthony Ostler as its new president and chief executive. He will step into the role at the end of February, replacing Neil Parmenter who resigned on Dec. 23, 2021. The banking industry lobby group says Ostler most recently worked as head of stakeholder engagement in global marketing at State Street in Boston. Prior to working at State Street, Ostler held roles at Manulife, Canaccord and RBC according to his LinkedIn profile. The Canadian Banke
A trucker convoy has left the Regina area and is expected to stop in Winnipeg today before making a final stop in Ottawa later this week. The Regina Police Service estimates about 1,200 trucks went through the city last night. They converged at a truck stop in Balgonie, Sask., after coming from Saskatoon and other western provinces. The convoy was greeted last night by supporters — including Conservative members of Parliament Andrew Scheer and Warren Steinley — and again this morning by others b
COMACHUEN, Mexico (AP) — In Comachuen, a Purepecha Indigenous community of about 10,000 inhabitants nestled high in the pine-clad mountains of the western state of Michoacan, the whole town survives because of the money sent home by migrants working in the United States. That money, known as remittances, kept families fed after local woodworking sales dropped off a decade ago when pine lumber started to become scarce. The money has allowed their families to remain in Comachuen rather than moving
LACEY TOWNSHIP, N.J. (AP) — For the second time in as many months, the U.S. Nuclear Regulatory Commission has fined the owners of a former New Jersey nuclear power plant for security-related violations. The agency said Wednesday it fined Jupiter, Florida-based Holtec Decommissioning International $50,000 for security violations at the former Oyster Creek nuclear power plant in the Forked River section of Lacey Township. The plant was one of the oldest in the U.S. when it shut down in 2018. The f
RENO, Nev. (AP) — The U.S. government plans to capture more wild horses on federal lands this year than ever before, drawing sharp criticism from mustang advocates who hoped the Biden administration would curtail widespread gathers of thousands of horses annually across the American West. Bureau of Land Management Director Tracy Stone-Manning, known as an ally of conservationists on several public land fronts when she was appointed in the fall, says the agency plans to permanently remove at leas
GM's announcement comes just a day after the company unveiled a $7 billion investment plan in Michigan, mainly toward making full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America. The automaker, which was dethroned as the U.S. sales leader in 2021 by Japanese rival Toyota Motor Corp, plans to boost its North America EV production capacity to more than a million units by late 2025. It will also have to contend with current EV leader Tesla, which will soon open a second U.S. plant in Austin, Texas, and is on pace to sell more than 1 million electric vehicles globally in 2022.
LONDON (Reuters) -Britain's easyJet said the easing of travel restrictions had spurred demand for summer beach destinations such as Greece, Turkey and Spain, giving the airline cause for optimism after the shadow of Omicron lifts. Its chief executive Johan Lundgren said bookings jumped in Britain when restrictions were reduced earlier this month and were boosted again when the government said testing requirements would end in February. He said easyJet had seen similar trends across Europe, notably in France and Switzerland.
THE HAGUE, Netherlands (AP) — Prime Minister Mark Rutte further eased the Netherlands' coronavirus lockdown, allowing bars, restaurants, museums, theaters and other venues to reopen from Wednesday for the first time this year. But Rutte warned that the move wasn't without risks. “We are taking a big step today to unlock the Netherlands while the infections numbers are really going through the roof,” Rutte said Tuesday. The announcement wasn't all good news for the beleaguered hospitality and cul
Deutsche Bank delivered its most profitable year in a decade on the back of a dealmaking bonanza, strengthening Chief Executive Christian Sewing's hand as he fine tunes a new strategy and targets for the years ahead in March. Analysts had forecast a fourth quarter loss and shares in Germany's largest bank rose by more than 5% after the surprise finale to 2021, which marked the second straight annual profit following years of losses. Deutsche had to pay up to keep its traders and dealmakers on board, however, with compensation at its investment bank soaring 30% in the final quarter.
Activist hedge fund Macellum Advisors, which wants Kohl's Corp to consider putting itself up for sale, is now pressing the U.S. retailer for at least one board seat and a public statement that the company is reviewing strategic alternatives, according to a letter reviewed by Reuters. Macellum, which owns roughly 5% of Kohl's stock, sent the letter hours after Acacia Research Corp, backed by activist investor Starboard Value, on Monday confirmed an offer to buy the company for $64 a share, valuing Kohl's at roughly $9 billion. In addition to Acacia's bid, Sycamore Partners is also preparing an all-cash offer for Kohl's at $65 per share, sources said on Sunday.
DENVER (AP) — The sight can be jarring during extreme drought: snowmaking guns lined up on a mountainside, blasting precious crystal flakes on a ski run while the rest of the land goes thirsty. Snowpack in the U.S. West has decreased by about 20% in the last century, making man-made snow more vital each year to opening ski resorts and fueling ski town economies as they head into an uncertain future. As the effects of drought and climate change increasingly hit home, the ski industry has invested
Robinson will replace Jean-Jacques Ruest, who announced his decision to step down from the role in October following investor demands for his exit after Canadian National's failed bid for Kansas City Southern. Canadian National will also appoint two new independent directors as a part of the settlement with TCI Fund Management, which has agreed to withdraw a requisition for a special meeting of shareholders that was previously slated for March 22. Billionaire Chris Hohn's TCI in September nominated four independent directors to the company's board.
TORONTO — Canada's main stock index gave up early gains but still posted a small increase as crude oil prices hit a more than seven-year high and the central bank kept its key interest rate in check. The Bank of Canada kept its key interest rate at 0.25 per cent, but warned higher interest rates are coming to help trim inflation from its hottest pace in three decades. Despite robust growth in the U.S. economy, an uneven global recovery, supply constraints, inflationary pressures, geopolitical te
Tesla's most important products this year and next will not be cars, CEO Elon Musk said on Wednesday, but software that drives them autonomously and a humanoid robot the company expects to help out in the factory. Tesla and other auto technology companies have missed their targets for self-driving software for years. "I love the fact that they're pushing the envelope, but I think they are too aggressive," said Roth Capital Partners analyst Craig Irwin.
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