Volvo Car partners with Northvolt to develop and produce batteries
Volvo Car Group, owned by China’s Geely Holding (GEELY.UL), announced plans on Monday for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory for production.
Wall St Week Ahead Fed shift causes rally in value stocks to wobble
The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year.
Oil prices firm on summer demand as Iran talks drag
Oil prices edged higher on Monday, underpinned by strong demand during the northern hemisphere summer driving season and a pause in talks to revive the Iran nuclear deal that could lead to a resumption of crude supplies from the OPEC producer.
In Indonesian banking, rise in religious conservatism ripples across sector
A rise in religious conservatism in Indonesia is drawing talent away from what some view as un-Islamic jobs in banking, industry professionals say, creating hiring woes for conventional banks but a boon for the country’s fledgling sharia finance sector.
Bank of Canada to break sequence of lower terminal rates as governments splurge
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle, expected to begin in 2022, will result in interest rates climbing above the previous peak for the first time in decades.
Italy, hosting G20, will call for tougher ‘gig economy’ rules
Italy will call for tougher rules governing ‘gig economy’ workers when it hosts labour ministers of the world’s biggest economies in the Group of 20 next week.
Explainer: Mystery behind slump in India’s Adani Group company shares
Shares of companies controlled by Indian billionaire Gautam Adani recorded their biggest weekly losses ever. The six stocks cumulatively lost 1.91 trillion Indian rupees ($25.83 billion) of value over five days through Friday.
Danish ‘meme stock’ Orphazyme plunges after drug setback
Orphazyme (ORPHA.CO) slashed its financial forecasts on Friday after U.S. health regulators rejected its key drug candidate, sending shares in Denmark’s first so-called meme stock tumbling 75% in early trading.
Asian shares up but set for weekly loss after hawkish Fed
Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.
Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P
Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
