Telsa is planning to build large new plant in China, Bloomberg News reported Tuesday. Bloomberg said the company is due to sign a memorandum of understanding on the factory with “local entities” in Shanghai, according to its sources. The plant will have a capacity to make 500,000 vehicles per year, the media outlet reported. Shares […]
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There's now a real chance the UK won't get a Brexit deal — here's what that means for markets
Investors should start preparing for a scenario in which the U.K. does not reach an agreement with the European Union over Brexit, a political analyst told CNBC Tuesday. The U.K. voted in June 2016 to leave the EU, but the process to leave the bloc has proven long and rich in technical details. No matter […]
Read moreElon Musk has visited the location where a group of Thai boys and their soccer coach are trapped in a cave, according to a post on his Twitter account. The Tesla CEO tweeted late Monday that he had “just returned from Cave 3,” likely in reference to Chamber Three, the rescue command center. A “kid-size […]
Read moreSir Martin Sorrell has completed his first acquisition since leaving advertising agency conglomerate WPP in April. His new venture, S4 Capital, has bought Dutch digital production company MediaMonks in a deal reported to be valued at 300 million euros ($352 million). Other bidders were WPP and Accenture Interactive, according to a Financial Times report. MediaMonks […]
Read moreShares of Chinese electronics-maker Xiaomi surged over 13 percent Tuesday on just its second day of trade following its initial public offering (IPO). Xiaomi shares closed at 19 Hong Kong dollars ($2.17), above its IPO price of 17 Hong Kong dollars. The rise is a welcome boost for the world’s fourth-largest smartphone maker, which went […]
Read moreCryptocurrency conversion platform Bancor has suffered a “security breach” that saw $13.5 million worth of digital tokens stolen. The Israeli start-up said Monday that a cryptocurrency wallet on its network had been compromised, leading to the theft of $12.5 million worth of ethereum and $1 million worth of the lesser-known token Pundi X. Ethereum has […]
Read moreSingapore’s state investment firm Temasek Holdings said Tuesday the value of its portfolio jumped above 300 billion Singapore dollars for the first time ever. The company said the size of its portfolio grew to 308 billion Singapore dollars ($235 billion) in the year ended March 31, representing a 12 percent increase year-over-year in local currency […]
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European shares seen higher as investors shift focus toward earnings
Markets in Europe are poised to start Tuesday’s trade on a higher note as investors focus on upcoming corporate earnings and put trade and political tensions aside. The FTSE 100 is seen up by 10 points at 7,701; the DAX is seen higher by 40 points at 12,594; and the CAC 40 is set to […]
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NATO, the Queen, Putin and some golf – Trump has a busy week coming up
President Donald Trump will travel to Europe this week for a series of meetings that will see him wine and dine — and discuss the world’s most pressing issues — with heads of state, government and business. Trump will face fellow leaders on Wednesday and Thursday at the NATO summit in Brussels, where defense spending […]
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England may win the World Cup, but its economy won’t be lifting any trophies
What have Brexit and the brilliant England run in the soccer World Cup actually got in common? To judge from the thousands of column inches from political and economic pundits desperate to find a link you’d actually think quite a lot. Of course, economic and political writers are always keen to overstretch the connections so […]
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