Investing.com -- Chinese automaker BYD Co. has inquired about taking over an idle Stellantis NV plant in the Toronto suburbs, according to a local politician.
Patrick Brown, the mayor of Brampton, Ontario, said BYD approached him about six months ago to discuss making buses at the factory. Stellantis had been retooling the plant to manufacture the Jeep Compass, but the company halted that plan last year when the US adopted a policy of tariffs on foreign autos.
Brown said... (continue reading...)
Investing.com -- PayPal Holdings is on watch Monday following reports of workforce cuts, though the company has not issued an official statement on the matter.
Discussion about potential layoffs at the payment processing company appeared on anonymous workplace forums including Blind and TheLayoff. PayPal did not respond to requests for comment.
Reports indicate layoffs at PayPal are occurring in stages, beginning with the... (continue reading...)
Investing.com -- Intercontinental Exchange and Nasdaq shares declined on Monday following a Bloomberg report that decentralized crypto trading platform Hyperliquid is in talks with Kraken's parent company about entering the U.S. market.
Intercontinental Exchange dropped 1.5%, while Nasdaq fell 1.4%.
According to the report, Hyperliquid Labs is in advanced discussions to bring its perpetual futures to U.S. traders through Kraken's parent company Payward, weeks after... (continue reading...)
Investing.com -- Apple Inc. veteran executive Phil Schiller has relinquished oversight of the App Store and product launch events, marking a major executive transition just as the iPhone maker prepares for a historic leadership shift. According to a Bloomberg report, the 66-year-old executive will remain at the company under his Apple Fellow title to focus on unspecified initiatives.
The departure from operational duties comes immediately ahead of John Ternus assuming... (continue reading...)
Investing.com -- Bank of America said in a note Monday that euro area interest rate and inflation expectations have become inconsistent, and that the mismatch offers trading opportunities as markets price in too many European Central Bank hikes.
The bank noted natural gas prices have reached new highs since the start of the war in Iran, pushing markets to discount almost four full ECB hikes for this cycle.
But strategist Ralf Preusser argued the move is overdone. "Even... (continue reading...)
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