UPS shares fall as investors fret over post-pandemic growth plan
United Parcel Service Inc (UPS.N) shares fell as much as 6% on Wednesday as the company known for delivering everything from Amazon.com packages to coronavirus vaccines forecast disappointing post-pandemic U.S. margins.
Detroit Three automakers will continue to require facial coverings
Detroit’s Big Three automakers and the United Auto Workers (UAW) union said on Wednesday that workers will continue to be required to wear masks in workplaces.
Morgan Stanley appoints E*Trade leaders to top wealth division jobs
Morgan Stanley (MS.N) appointed several executives from E*Trade to senior roles on Wednesday in a leadership shuffle that brings leaders from the online broker into the top ranks of the firm’s wealth management division, according to a memo seen by Reuters.
U.S. Fed’s reverse repo volume surges to record half a trillion dollars
The Federal Reserve’s reverse repurchase window on Wednesday took in $503 billion in cash, hitting a record peak for a third consecutive session, as financial institutions flush with liquidity flocked to the Fed facility to park their cash and secure Treasury collateral.
Exxon’s board shakeup could force review of billions of dollars in spending
The recent overhaul of Exxon Mobil Corp’s (XOM.N) board of directors could shift billions of dollars in spending and strategy over several years, but any changes likely will take time, analysts and investors say.
Gas Industry Should Embrace Innovative Learning Technologies, says eCom Scotland
The gas industry’s professional engineering institution, the Institution of Gas Engineers and Managers (IGEM), held its inaugural safety conference on 9th June. Supported by the Gas Industry Safety Group (GISG), the conference was held online. Conference delegate, Helen Robertson, of the digital learning and assessment specialist, eCom Scotland, commented, “Safety being a vital pillar of […]
Pandemic seen driving southeastern Europe warehouse boom
Logistics and warehouse companies are accelerating expansion plans in southeastern Europe where business is expected to boom as the pandemic spurs manufacturers to relocate operations close to main markets.
Inditex ignited by post-lockdown clothing binge
Spanish fast fashion giant Inditex (ITX.MC) said sales in May and so far in June were twice as high as in the same period last year as customers splashed out on post-lockdown shopping sprees.
World stocks near record high, U.S. bond yields near 1-month low
World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus.
Russia’s high inflation shifts expectations for bigger rate hike on Friday
Russia’s unexpectedly high inflation in May prompted a wide-scale revision of forecasts, shifting market expectations towards a bigger 50 basis-point interest rate increase on Friday, a Reuters poll suggested on Wednesday.
