Posts From Richard W

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world

Canada Core Retail Sales Rebound with 0.5% Growth in August

  The pound rose against its peers yesterday, including the Canadian dollar, in the hopes of a potential Brexit trade agreement between the UK and the EU. However, the series of economic data (CPI, PPI, public sector net borrowing) reported

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Twitter Hits Four-and-a-Half-Year High on Deutsche Bank Upgrade

  Investors showed increased interest in the stock of Twitter Inc (NYSE: TWTR) this week after Lloyd Walmsley, an analyst at Deutsche Bank upgraded the social media platform provider to “buy” from “hold,” citing an increase in growth rate during

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Japan Core Machinery Orders Grew 0.2% m-o-m in August

  The euro dollar declined against the yen on Monday following the report of lower-than-anticipated German wholesale price index data. The unanticipated increase in Japanese core machinery orders also fueled the yen’s rally against the euro. In the past 24

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Tesla Third-Quarter Deliveries Beats Estimates Slightly

  Shares of the electric automaker Tesla Inc (Nasdaq: TSLA) lost 0.94% or $3.89 to close at $411.20 following the publication of third-quarter delivery. The figures reported by Elon Musk-headed company was marginally above analysts’ estimates. Still, the market discarded

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US Pending Home Sales Increased 8.8% m-o-m in August

  The US dollar declined against the Canadian dollar despite the release of solid ADP non-farm employment change, Chicago PMI, and pending home sales data. The third GDP estimate confirming record high contraction of the US economy was one of

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Cleveland-Cliffs to Buy ArcelorMittal USA for $1.4 Billion

  The world’s largest steel producer ArcelorMittal (AMS: MT), has announced that the Ohio-based Cleveland-Cliffs Inc. (NYSE: CLF) is acquiring its US subsidiary, ArcelorMittal USA LLC, for roughly $1.40 billion and the share buyback program would begin soon. The steel

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Illumina to Acquire Cancer Testing Firm Grail for $8 Billion

  Biotechnology company Illumina Inc. (Nasdaq: ILMN) is acquiring privately-held GRAIL, Inc., a healthcare company focused on cancer screening, in a cash and stock deal worth $8 billion. With a 14.5% stake, Illumina is already the largest shareholder of GRAIL.

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China Central Bank Leaves Benchmark LPR Unchanged

  The Chinese yuan began the week on a stronger note against the greenback, but was unable to hold onto gains as traders were worried about a resurgence in COVID-19 infections in Europe. Specifically, traders avoided riskier assets over concerns

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Nvidia Acquires Chip Designer Arm for $40 Billion

  Chipmaker NVIDIA Corp (Nasdaq: NVDA) is acquiring Arm Holdings, which designs mobile phone chips, from SoftBank in a cash and stock deal valued at $40 billion. The sale will enable Nvidia to position itself as a formidable player in

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Canada Housing Starts Increased 6.9% m-o-m in August

  The USD/CAD pair declined yesterday despite the report of better-than-anticipated US JOLTS data. The US-China trade tensions and steady increase in COVID-19 infections in the US have turned the greenback weak. Notably, the strong Canadian housing starts data also

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