(Reuters) -Tesla Inc has cut prices of its Model S and Model X vehicles in the United States, its website showed, days after chief executive Elon Musk said recent price cuts of other models had stoked demand. Prices of Tesla’s Model S cars were cut by $5,000. The basic version of Model S would now…
By Sarah Wu and Ben Klayman TAIPEI/DETROIT (Reuters) – Foxconn wants to do for electric vehicles (EVs) what it has done with the iPhone, but first, it needs to find the next Apple – and fast. The Taiwanese contract manufacturer faces competition in the market for creating white-label EVs that can be tailor-made for clients,…
LONDON (Reuters) – Two former JP Morgan credit bankers on Monday launched a new impact investment advisory firm focused on emerging market infrastructure, with a minority stake by British insurer Legal & General’s alternative investments arm. The firm, ImpactA Global, aims to help address the World Bank’s estimated need for $1 trillion in annual investment…
By Wayne Cole SYDNEY (Reuters) – Asian shares edged up on Monday while bond markets held their breath ahead of an update on the U.S. rate outlook from the world’s most powerful central banker, and a jobs report that could decide if the next hike needs to be super-sized. There was some disappointment that Beijing…
(Reuters) -Binance, one of the world’s largest cryptocurrency exchanges, developed a plan to avoid the threat of prosecution by U.S. authorities as it started an American entity in 2019, the Wall Street Journal reported on Sunday. Any lawsuit from U.S. regulators, who had signaled a coming crackdown on unregulated offshore crypto players, would be like…
(Reuters) – Harris Associates, one of Credit Suisse’s longest major shareholders, has sold its entire stake in the Swiss bank after losing patience with its strategy to stop persistent losses and a client exodus, the Financial Times reported on Sunday. Harris, which had remained loyal despite a string of scandals at the group, disclosed a…
By Echo Wang and Anirban Sen NEW YORK (Reuters) – Arm Ltd, the British chip designer owned by Japan’s SoftBank Group Corp, is likely to aim to raise at least $8 billion from what is expected to be a blockbuster U.S. stock market launch this year, people familiar with the matter said on Sunday. Arm…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Italian state lender CDP said on Sunday its board had approved a non-binding offer for the fixed network of former phone monopoly Telecom Italia (TIM), adding it would be valid until March 31. CDP has teamed up with Australian infrastructure fund Macquarie to bid for Italy’s most…
By Divya Rajagopal TORONTO (Reuters) – Junior mining companies hoping to produce lithium, nickel and other green energy metals are worried that Canada’s crackdown on some overseas investors may limit their ability to raise funds for mines and related facilities. Ottawa last fall proposed bolstering its Investment Canada Act (ICA) to give government ministers power…
WASHINGTON (Reuters) – Two U.S. senators plan to introduce legislation this week aimed at letting the government “ban or prohibit” foreign technology products such as Chinese-owned TikTok, Senator Mark Warner said on Sunday. Warner, the chairman of the Senate Intelligence Committee, said TikTok would be “one of the potentials” for review under the bill. The…
