The Purchasing Managers Index (PMI) is a closely watched economic indicator, but the value of this data has been called into question, with one economist telling CNBC it is wildly exaggerated. Several pieces of euro zone PMI data were released on Monday. Spanish manufacturing PMI for June slipped to 54.7 from 55.4 in May, while […]
Read moreChina laid the groundwork to finally get its stocks included in the key emerging markets benchmark, and now the country is taking rapid steps to get its bonds a similar global stamp of approval. On Monday, China launched a “bond connect” that gives foreign investors access to mainland China’s more than $9 trillion debt market […]
Read moreOnline financial news publisher Bankrate on Monday announced it has agreed to be acquired by digital platform builder Red Ventures in an all-cash deal with an enterprise value of about $1.4 billion. Bankrate shareholders will receive $14 a share, which represents a premium of approximately 31 percent over Bankrate’s three-month average closing share price. The […]
Read moreEver have a situation where you pay on the wrong card and then have to spend time sending money from one bank account to the next? That’s a problem financial technology or fintech start-up Curve is trying to solve with the launch of its patent-pending “time travel” feature on Monday. Curve is a London, U.K.-based […]
Read moreIn March 2016, John Podesta, the former chairman of Democratic candidate Hillary Clinton’s presidential campaign, was fooled into entering his password for his private Gmail account. And last week, ransomware cyberattacks again ravaged the globe, locking down files of major corporations and demanding they pay a ransom to unlock them. According to the CEO of […]
Read moreSeventeen people were killed when a coach burst into flames after colliding with a lorry on a motorway in the German state of Bavaria on Monday, local newspaper Frankenpost said. Frankenpost did not identify its source for the information and police were not immediately available to comment when contacted by Reuters. A police spokesman told […]
Read moreIndia’s historic tax reforms, rolled out on Jul. 1, are expected to be a positive for the fast-moving consumer goods (FMCG) companies and firms producing consumer durables, analysts at Nomura said in a note. The new Goods and Services Tax (GST) regime replaces a thicket of indirect central and state levies that critics argue have […]
Read moreFrench bank Societe Generale said Monday it has teamed with the Singapore Exchange to introduce one of Europe’s “fastest growing” trading products into Asia — something called “daily leverage certificates.” The certificates, or DLCs, are exchange-traded products that allow investors to multiply their returns by betting on the daily rise and fall of the underlying […]
Read moreTesla Inc.’s high-volume Model 3 sedan passed all regulatory requirements for production two weeks ahead of schedule, Chief Executive Elon Musk tweeted on Sunday night. “(Model 3) Production grows exponentially, so Aug should be 100 cars and Sept. above 1,500,” Musk said on Twitter. “Looks like we can reach 20,000 Model 3 cars per month […]
Read moreTesla Motors’ first mass-market car, the Model 3, will begin rolling off the line on Friday, two weeks earlier than planned, Elon Musk, the company’s chief executive, said late Sunday. Mr. Musk said on Twitter that production would increase quickly, with 100 Model 3s produced in August and 1,500 or more in September. He said […]
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