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Peloton Interactive To Exit All Owned-manufacturing Operations; Expanding Rexon Partnership

RTTNews | 1521 days ago

Peloton Interactive To Exit All Owned-manufacturing Operations; Expanding Rexon Partnership

(RTTNews) - Interactive fitness platform Peloton Interactive, Inc. (PTON) announced Tuesday it is exiting all owned-manufacturing operations and expanding its current relationship with leading Taiwanese manufacturer Rexon Industrial Corp.

The company said the shift is a natural progression in Peloton's strategy to simplify its supply chain and focus on technology and best-in-class content to continue driving the business forward as the leading global Connected Fitness company.

Rexon will become the primary manufacturer of the hardware for Peloton's iconic Bike and Tread product lines.

Along with the expanded partnership with Rexon, Peloton will suspend operations at its Tonic Fitness Technology, Inc. facility through the remainder of 2022. The Company acquired Tonic in October 2019.

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Peloton To Slash Another 500 Jobs: Reports

Peloton To Slash Another 500 Jobs: Reports

Fitness equipment maker Peloton Interactive, Inc. (PTON) is reportedly planning to cut about 500 jobs or 12 percent of its remaining workforce. This will be the company's fourth round of layoffs this year as it struggles to return to profit.

RTTNews | 1435 days ago

Australian Market Sharply Lower

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Friday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.

RTTNews | 9 minutes ago

Soft Start Anticipated For China Stock Market

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The China stock market on Thursday ended the three-day winning streak in which it had risen more than 20 points or 0.5 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it's expected to see continued consolidation on Friday.

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RTTNews | 47 minutes ago

Singapore Stock Market May Open In The Red

Singapore Stock Market May Open In The Red

The Singapore stock market has finished lower in four straight sessions, slumping almost 110 points or 3.4 percent in that span. The Straits Times Index now sits just beneath the 5,690-point plateau and it figures to open in the red again on Friday.

RTTNews | 1h 17min ago

Japan Producer Prices Sink 0.2% In August

Japan Producer Prices Sink 0.2% In August

Producer prices in Japan were down 0.2 percent on month in August, the Bank of Japan said on Friday.

RTTNews | 1h 20min ago

Malaysia Stock Market May Give Up Support At 1,700 Points

Malaysia Stock Market May Give Up Support At 1,700 Points

The Malaysia stock market has finished lower in three sessions, slipping almost 10 points in that span. The Kuala Lumpur Composite Index now sits just above the 1,700-point plateau and it may take further damage again on Friday.

RTTNews | 1h 47min ago

New Zealand Manufacturing Index Eases To 5.1 - BusinessNZ

New Zealand Manufacturing Index Eases To 5.1 - BusinessNZ

The manufacturing sector in New Zealand continued to expand, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 53.1.

RTTNews | 1h 54min ago

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