Britain’s regulators could grant interim permission for European Union investment and trading firms to continue operating in the U.K. after the country leaves the bloc in 2019. Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), said giving “interim permission” may be one solution for dealing initially with a wave of firms from the […]
Read moreAs cities across the United States fight for a chance to be the home of Amazon’s second headquarters, Detroit Mayor Mike Duggan contended Friday on CNBC that his city has the assets envisioned by Jeff Bezos, founder of the e-commerce and cloud-computing giant. Although there’s some great competition from other cities, the Motor City and […]
Read morePresident Donald Trump will travel to Asia in November as he tries to curb North Korean aggression and potentially rework trade deals. The president will go to Japan, South Korea, China, Vietnam and the Philippines, as well as Hawaii, during the Nov. 3 to Nov. 14 trip, the White House said in a statement Friday. […]
Read moreShares of Zogenix zoomed 150 percent in premarket trading Friday after positive results from a study on its treatment of a rare form of epilepsy. At one point in early premarket trading where volume is light the shares had tripled. The biotechnology company reported significant results in a Phase 3 trial of its drug ZX008, […]
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Robotaxis like Uber's could slash fares by 80 percent, UBS study says
Driverless taxis are set to totally transform the landscape of mass transit systems, according to a study. Self-driving taxi services – such as those Uber has tried to roll out in the U.S. – could offer fares at a fraction of the cost of those offered by public transport networks today, UBS said in a […]
Read moreA decision by Japanese authorities is helping the country cement its place as a driving force for bitcoin, at a time when China is turning its back on virtual currencies. On Friday, Japan’s Financial Services Agency (FSA) officially recognized 11 companies as registered cryptocurrency exchange operators. The registration places several requirements on the companies, such […]
Read moreU.S. consumer spending barely rose in August likely as Hurricane Harvey weighed on auto sales and annual inflation increased at its slowest pace since late 2015, pointing to moderation in economic growth in the third quarter. The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, edged […]
Read moreElon Musk’s biggest critics argue some of his larger than life ideas may be less than feasible, but on Friday the billionaire put his money where his mouth is. The tech mogul started on his promise to build the world’s largest lithium ion battery plant for South Australian, in less than 100 days — or […]
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Brexit talks finally see some progress — here's what you need to know
Brexit officials for both the U.K. and the EU have claimed some progress in the latest round of talks – somewhat a change in tone, but only a small step in the right direction given the amount of work that lies ahead. David Davis, the U.K.’s Brexit secretary, told reporters Thursday that negotiators had achieved […]
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Merkel's chief of staff to reportedly take over as acting German finance minister
Peter Altmaier, German Chancellor Angela Merkel’s chief of staff, will take over as acting finance minister from Wolfgang Schaeuble when he leaves office, German newspaper Sueddeutsche Zeitung reported on Friday. It said, without citing its sources, that Merkel had made the decision. On Wednesday 75-year-old veteran conservative Schaeuble agreed to become president of the parliament […]
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