Friday, 19 February 2021

Shares rise as cyclical stocks provide support; yields climb

Shares rise as cyclical stocks provide support; yields climb

A gauge of global equity markets snapped a three-day losing streak to inch higher on Friday as investors sold technology shares and rotated into economically sensitive cyclical stocks in anticipation the U.S. economy will boom on pent-up demand once the coronavirus pandemic is subdued.

Google to evaluate executive performance on diversity, inclusion

Alphabet Inc's Google will evaluate the performance of its vice presidents and above on team diversity and inclusion starting this year, the company said on Friday in one of several responses to concerns about its treatment of a Black scientist.

Packaged food giants push direct online sales to gauge consumer tastes

Packaged food giants including Kraft Heinz, General Mills and Kellogg are pushing sales of their products to consumers directly via their own online channels, in a quest to gather more data about shoppers' purchasing habits.

Citigroup considering divestiture of some foreign consumer units - Bloomberg Law

Citigroup Inc is considering divesting some international consumer units, Bloomberg Law reported on Friday, citing people familiar with the matter.

U.S. House Democrats advance $1.9 trillion COVID-19 aid bill

President Joe Biden's push for a $1.9 trillion COVID-19 relief bill took a step forward on Friday as a U.S. House of Representatives committee unveiled the legislation Democrats hope to pass by late next week.

Billionaire investor Patrick Soon-Shiong denies report of LA Times sale

Billionaire investor Patrick Soon-Shiong on Friday denied a report that said he was considering a sale of the Los Angeles Times newspaper.

Croatia has shown interest in F-35 jets - Lockheed executive

Lockheed Martin co, the United States' largest weapons maker, has fielded interest from Croatia regarding the purchase of stealthy F-35 jets, a Lockheed executive said on Friday.

Wall Street closes flat as cyclicals shine, big tech falls

Stocks on Wall Street closed near break-even on Friday as investors sold technology shares that have rallied through the pandemic and rotated into cyclical stocks set to benefit from pent-up demand once the coronavirus pandemic is subdued.

U.S. FAA tracking all Boeing 737 MAX airplanes via satellite data

The U.S. Federal Aviation Administration (FAA) said on Friday it is tracking all Boeing 737 MAX airplanes using satellite data under an agreement with air traffic surveillance firm Aireon LLC.

Volkswagen in Mexico to suspend Jetta production on Monday and Tuesday

Volkswagen's Mexico unit said on Friday that a work stoppage on its Jetta model will continue on Monday and Tuesday, due to an ongoing shortage of natural gas.

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