China’s Zhejiang Geely and its Volvo Cars unit are considering making Lynk & Co. branded vehicles at Volvo plants in Belgium and the U.S. state of South Carolina, a senior Lynk & Co. official told Reuters on Wednesday. The Lynk & Co. brand is jointly owned by Geely and Volvo Cars, and sales of the […]
Read moreGermany’s BMW is talking with other automakers “around the world” to try to find partners to lower the cost of electrifying its future Mini small cars, management board member Peter Schwarzenbauer told Reuters. “We are talking to many OEMs (manufacturers) around the world, not only in China, (about) how to electrify smaller cars,” Schwarzenbauer said. […]
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ECB warns of possible global market correction after excessive risk-taking
The European Central Bank (ECB) warned Wednesday that despite the improved economic growth in the euro area there are concerns related to a sudden increase in volatility. “Systemic stress indicators for the euro area have remained low over the past six months,” the ECB said in a statement on Wednesday, but added that “the risk […]
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As bitcoin passes $10,000, experts consider whether cryptocurrencies will crash or carry on
Bubble, Ponzi, tulip and trouble have been among the words used by crypto-critics over the past year as bitcoin powered from under $1,000 and passed the much talked about $10,000 marker. Despite being talked down by some major financial names, not least JPMorgan CEO Jamie Dimon, it looks like cryptocurrencies could be here to stay. […]
Read moreThe London Stock Exchange said its chief executive Xavier Rolet has stepped down and will be replaced by David Warren, chief financial officer, on an interim basis. The exchange also said that its chairman Donald Brydon has indicated he will not stand for re-election at the annual general meeting in 2019. Rolet had already announced […]
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European markets seen mixed after North Korea missile launch; bitcoin surpasses $10,000
European bourses are seen opening mixed on Wednesday morning amid renewed concerns over North Korea’s latest missile launch, while bitcoin surged past $10,000 for the first time. The FTSE 100 is set to open 30 points lower at 7,432; while the DAX is expected to start up by 53 points at 13,113 and the CAC […]
Read moreJerome Powell, picked by President Donald Trump to lead the Federal Reserve, said Tuesday that he favors “tailoring” regulations to alleviate the burden on smaller banks. Speaking before the Senate Banking Committee during his confirmation hearing, Powell mentioned several areas that he’d like to see addressed when it comes to the rules that banks operate […]
Read moreCyber Monday 2017 is going down in the history books. Digital transactions on Monday reached a record $6.59 billion, Adobe Insights unveiled Tuesday in its final update on the holiday weekend. That marks a 16.8 percent increase from a year ago and makes Monday the largest online shopping day in U.S. history. Mobile also had […]
Read moreConsumer optimism ripped higher in November, building on historic highs set in the previous month. The Conference Board’s measure of consumer confidence rose to 129.5, the highest mark since the index hit 132.6 in November 2000. Economists polled by Reuters anticipated a decline to 124, after October registered 126.2. “Consumer confidence increased for a fifth […]
Read moreThe S&P CoreLogic Case-Shiller home price index rose more than expected in September in a continuation of this year’s momentum. National home prices continued to rise in September, reporting a 6.2 percent annual gain on the S&P’s most broad indicator. This was better than the 6.1 percent increase expected by economists polled by Reuters. “Most […]
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