Cargill, the Minneapolis-based company is planning to cut thousands of jobs worldwide, after the company fell short of its profit targets. The world’s largest agricultural commodities trader will reduce approximately 5% of its 164,000 workforce as part of its 2030 strategy, according to an internal memo, reported Bloomberg. Revenues slumped…
European equity markets saw a modest rise on Tuesday, with the pan-European STOXX 600 climbing 0.7%, bolstered by a 1.37% gain in technology stocks and a 1.25% rise in the basic resources sector. However, political instability in France continued to weigh on investor sentiment. France’s CAC 40 index, while up…
India’s economy has shown cracks in recent quarters. The country’s backbone has been its manufacturing sector, which is now stagnating. GDP growth is slowing as a result. Once a promising story of industrial resurgence, is India’s “Make in India” dream fading into irrelevance? The numbers suggest it might be. Weak…
The Imacec economic activity index increased by 2.3% year on year in October 2024, indicating a positive outlook for Chile’s economy. This rising trend follows a modestly corrected 0.3% increase in September, showing stability and a possible growth trajectory for the country. The statistic, however, comes with a caveat: October…
In November 2024, the S&P Global Brazil Manufacturing Purchasing Managers’ Index (PMI) fell to 52.3, from 52.9 in October. This result, while suggesting development in the industrial sector, represents the slowest expansion seen in the past three months. It is worth noting that the index has had a remarkable run,…
Intel Corp (NASDAQ: INTC) says its chief executive Pat Gelsinger has retired, effective December 1st. David Zinsner, its chief of finance and MJ Holthaus, its chief of products will serve as interim co-CEOs as the chipmaker looks for a permanent replacement. Gelsinger has retired from the company’s board as well…
Super Micro Computer Inc (NASDAQ: SMCI) says an external review of its business has concluded with no evidence of financial misconduct “on the part of management or the board of directors.” The AI servers company also confirmed that none of its previous financial reports will have to be revised –…
Gap Inc.’s stock climbed by more than 7% on Monday after JPMorgan Chase analyst Matthew R. Boss upgraded the retailer’s shares from “neutral” to “overweight.” Boss also increased the price target for Gap’s stock from $28 to $30, citing successful brand revitalization efforts under CEO Richard Dickson. Boss’s report highlights…
Goldman Sachs analyst Mike Harris expects the US steel industry to flourish under Donald Trump as the President of the United States. Lower interest rates and steady demand will benefit the domestic steel industry next year, he told clients in a research note today. Structural factors like fiscal stimulus…
Asian stock markets rebounded sharply on Tuesday, led by gains in the tech sector after Wall Street hit record highs overnight. However, currency markets remained volatile as traders assessed diverging monetary policies in the US and Japan. Meanwhile, geopolitical tensions, including political uncertainty in France and escalating US-China trade friction,…