News

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Tue, 08 Sep 2020 14:10:15 GMT

Tesla's shares plunge 15% on Tuesday

On Tuesday, Tesla shares plunged as much as 15% following its exclusion from the S&P 500 index, after it dominated the Wall Street recovery from the COVID-19 crisis earlier this year.

Tue, 08 Sep 2020 13:20:26 GMT

GM takes 11% stake in truck maker Nikola

On Tuesday, General Motors announced it was buying an 11% equity stake in Nikola, the US electric truck maker, worth around $2.0B, seeking to ti up with the firm to develop a pick-up truck that would be powered by the battery-electric system.

Tue, 08 Sep 2020 11:58:18 GMT

Oil reaches June low level

On Tuesday, crude oil price benchmarks reached the 40$ per barrel level, which is a low level not experienced since June.

Tue, 08 Sep 2020 10:53:29 GMT

AB InBev looks for CEO Brito's replacement

Anheuser-Busch InBev, the Budweiser beer maker, is looking for a candidate to succeed Carlos Brito, its long-serving CEO, according to the Financial Times.

Tue, 08 Sep 2020 09:49:48 GMT

Stocks struggle on Tuesday

During Tuesday's European trading hours, stock indices traded almost flat in the aftermath of last week's decline.

Tue, 08 Sep 2020 08:46:33 GMT

Tesla sells 11,8K Model 3 cars in China last month

Tesla, the US electric car maker, sold 11,8K units of its Model 3 vehicle in China last month, up from 11K cars in July, China's Passenger Car Association reported on Tuesday.

Tue, 08 Sep 2020 08:31:17 GMT

Germany's VCI sees 2020 production drop

On Tuesday, VCI, Germany's chemicals association, stated it was expecting output to fall by 3% in 2020 and revenues likely to drop by 6%, marking slow recovery from the coronavirus crisis.

Tue, 08 Sep 2020 06:45:24 GMT

VW has no plans for ties with Tesla

Volkswagen's CEO Herbert Diess has dispelled rumours regarding the world's biggest automaker's plans to pursue deeper ties with its rival EV maker Tesla, on the back of VW's mass production push to develop electric cars.

Tue, 08 Sep 2020 06:37:01 GMT

Australia to look into Apple-Google app stores competition

on Tuesday, the Australian competition regulator stated it would examine the use of data sharing by app stores owned by Google and Apple, as well as the competition between them.

Tue, 08 Sep 2020 05:31:30 GMT

US companies urge workers to vote

It was revealed on Monday that various US companies had started campaigns that urged their employees to vote in US primary elections.

Tue, 08 Sep 2020 04:30:44 GMT

Mexican inflation rises

On Monday, a poll published by Reuters revealed that the monthly inflation of Mexico had risen to 4%.

Tue, 08 Sep 2020 03:31:26 GMT

S&P raises Argentine rating

The rating agency S&P Global Ratings announced on Monday that it would raise the long term foreign currency rating of Argentina to CCC+.

Mon, 07 Sep 2020 20:46:32 GMT

VW CEO comments on Tesla

On Monday, the CEO of Volkswagen Herbert Diess stated that despite rumours the company is not seeking a deal with Tesla.

Mon, 07 Sep 2020 20:30:41 GMT

AB InBev looks for CEO Brito's successor

Beer maker Anheuser-Busch InBev started looking for a successor of the company's long-serving CEO Carlos Brito, the Financial Times reported.

Mon, 07 Sep 2020 18:48:32 GMT

Renault to upgrade Dacia's models

Renault revealed the new lines of its two best-selling vehicles, both models manufactured by Romanian low-cost brand Dacia, which was recently upgraded to an independent division.

Mon, 07 Sep 2020 17:45:24 GMT

Worldline's Ingenico deal may require EU nod

France's payments company Worldline's €7.8B bid for Ingenico may require concessions to gain EU antitrust regulator approval, sources familiar with the matter stated.

Mon, 07 Sep 2020 16:52:18 GMT

Kering Swiss brands cut quarter of staff

Kering-owned Swiss watch brands Girard-Perregaux Ulysse Nardin announced that they cut about 100 jobs, or 25% of workforce, since sales were affected by the crisis.

Mon, 07 Sep 2020 16:01:28 GMT

UK house prices jump 5.2%

The UK prices jumped 5.2% year-on-year in August, the strongest increase since 2016, Halifax stated, suggesting a boom in the real estate market.

Mon, 07 Sep 2020 15:23:36 GMT

Nestle set to meet sustainability target

Nestle increased the share of reusable or recyclable plastics to package its products to 87%, making significant progress toward its 100% target by 2025.

Mon, 07 Sep 2020 14:16:09 GMT

Orange rolls out 5G network in Spain

Orange, the French telecom giant, has launched the 5G service on Monday in Spain's five largest cities, soon after its competitor Telefonica offered its own service to the whole country.

Mon, 07 Sep 2020 13:37:39 GMT

Samsung to halt production at China TV plant

Samsung Electronics is set to stop production at the sole TV plant based in China by November's end, according to spokesman statement made on Monday.

Mon, 07 Sep 2020 12:24:48 GMT

Renault to launch new lines of Dacia cars

On Monday, the French carmaker Renault reveled its new lines of the two Dacia unit's vehicles, trying to recover after the COVID-19 pandemic.

Mon, 07 Sep 2020 09:42:05 GMT

IKEA enters US market

On Monday, IKEA announced that it would open its first shopping center in the US in San Francisco within a year.

Mon, 07 Sep 2020 09:37:13 GMT

Netherlands to invest €20B in economic growth fund

On Monday, the Dutch government announced it would invest €20B in infrastructure, education, and R&D projects during the following five years to boost the country's economy.

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