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Virgin Orbit Pauses Operations For A Week, Furloughs Most Employees
Richard Branson's Virgin Orbit Holdings Inc. is pausing all operations for a week starting Thursday as it seeks a funding lifeline, reports said. The satellite launch company also plans to furlough nearly all of its employees. Following the news, Virgin Orbit shares fell about 33 percent in after-hours trading on Wednesday, and are currently down around 42 percent in pre-market activity on Nasdaq.
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U.S. Housing Starts Surge Much More Than Expected In February
After reporting decreases in new U.S. residential construction for six straight months, the Commerce Department released a report on Thursday showing a substantial rebound in housing starts in the month of February.
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Indonesia Central Bank Holds Rate For Second Straight Meeting
Indonesia's central bank left its interest rate unchanged for the second successive meeting on Thursday as inflation is expected to return to the target range this year.
The Board of Governors of Bank Indonesia decided to hold the 7-day reverse repo rate at 5.75 percent. The deposit facility rate was retained at 5.00 percent and the lending facility rate at 6.50 percent.
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U.S. Import Prices Edge Down 0.1% In February
A report released by the Labor Department on Thursday showed import prices edged slightly lower in the month of February.
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Bay Street Likely To Open On Cautious Note
The Canadian market is likely to open on a cautious note on Thursday with investors continuing to track the developments on the banking sector front.
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U.S. Weekly Jobless Claims Pull Back To 192,000
First-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended March 11th, according to a report released by the Labor Department on Thursday.
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Dollar General Q4 EPS Meets Estimates; Declares Dividend
Dollar General Corp. (DG) reported Thursday that net income for the fourth quarter grew to $659.14 million or $2.96 per share from $597.43 million or $2.57 per share in the prior-quarter.
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more news
CGI Inks New Global Alliance Partnership With NetApp
CGI Group, Inc.(GIB), a Canadian IT and related service provider, announced Thursday a new global alliance partnership with NetApp (NTAP) focused on helping organizations across industry sectors unlock the full potential of hybrid and multi-cloud environments to drive flexibility, efficiencies and cost savings in the management of their applications and use of their data.
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Swiss GDP To Grow Significantly Below Average In 2023: SECO
Switzerland's economy is projected to grow significantly below its average this year amid the challenging global environment, the State Secretariat for Economic Affairs said in its Spring Forecast. The expert group of the SECO forecast the alpine economy to grow 1.1 percent this year.
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Sensex, Nifty Snap Five-day Losing Run
Indian shares ended slightly higher on Thursday to snap a five-day losing streak after Swiss regulators provided Credit Suisse, which is at the center of Europe's banking rout, a liquidity lifeline.
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Australian Dollar Higher Amid Upbeat Jobs Data, Credit Suisse Liquidity Pledge
The Australian dollar climbed against its major counterparts on Thursday, as stronger-than-expected jobs data and a pledge by Swiss regulators to provide liquidity to Credit Suisse bolstered risk sentiment.
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European Shares Gain After Credit Suisse Liquidity Injection
European stocks traded higher on Thursday as traders assessed moves from regulators to support Credit Suisse.
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FTSE 100 Rebounds Led By Banks
U.K. stocks opened higher on Thursday as banks rebounded after Credit Suisse said that it will borrow up to $54 billion from the Swiss National Bank.
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