Elon Musk praised Chinese automakers as “the most competitive in the world” at an online forum Friday, where the Tesla Inc. chief also touched upon data security and the nation’s “great potential” as a market for electric vehicles.
Musk was in flattery mode in his pre-recorded appearance at the World New Energy Vehicle Congress, taking place in the southern Chinese island of Hainan. China is the world’s biggest EV market and of critical importance to Tesla, particularly after a rocky few months that dented its reputation in the country.
LONDON (Reuters) - El Salvador's adoption of bitcoin as legal tender has immediate negative implications for it credit rating S&P Global (NYSE:SPGI) said on Thursday.
Chinese property giant Evergrande is on the brink of collapse, and analysts warn the potential fallout could have far-reaching implications that spill outside China’s borders. “Evergrande’s collapse would be the biggest test that China’s financial system has faced in years,” says Mark Williams, chief Asia economist at Capital Economics - CNBC.
SHANGHAI (Reuters) - Electric vehicle maker Tesla (NASDAQ:TSLA) Inc will work with global regulators to ensure data security, Chief Executive Elon Musk told the World New Energy Vehicle Congress in China on Friday.
HONG KONG (Reuters) - Chinese state-media Global Times' editor in chief said struggling Evergrande Group should use market means to save itself and should not bet on a government bailout as it deems itself "too big to fail".
TOKYO (Reuters) - The Bank of Japan is set to maintain its massive stimulus next week, as supply bottlenecks caused by factory shutdowns in Asia weigh on an economy already wobbling from the hit to consumption from the pandemic.
U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite expectations of a 0.8% fall,
The figures helped to curb cautious views on the U.S. economy after a tame consumer inflation reading and soft job growth data earlier this month, and revived expectations for an early Fed tapering.
HONG KONG (Reuters) - Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors' minds, while the dollar sat near a three-week high.
US August Retail Sales: +0.7% vs -0.7% Expected.
US Jobless Claims +20K To 332K In Sep-11 Wk; Survey 320K.
(CN) China Vice Premier Liu He: China to boost EVs consumption:
- China to accelerate auto chips research and development.
Electronic Arts stock (NASDAQ:EA) fell 6% Wednesday on a report that the video games publisher has delayed the launch of Battlefield 2042 and will now release it only next year.
Attributing it to multiple sources, Gamesradar said there is talk that a delay of Battlefield 2042 will be announced soon.
WASHINGTON (Reuters) - The U.S. House Ways and Means Committee voted on Wednesday to advance legislation to raise taxes on wealthy Americans and corporations to help fund President Joe Biden's $3.5 trillion in spending on childcare, education, housing and green energy.
NEW YORK (Reuters) - Billionaire investors Steven Cohen and Ray Dalio have joined the cryptocurrency craze by putting cash to work and saying at a conference this week that bitcoin and other digital currencies are an interesting way to diversify their holdings.
LONDON (Reuters) -Britain's inflation rate hit its highest in almost a decade last month after a record jump that was largely fuelled by a rebound in restaurant prices which were artificially pushed down a year ago by government subsidies.
CHICAGO (Reuters) -New data from Moderna (NASDAQ:MRNA) Inc's large COVID-19 vaccine trial shows that the protection it offers wanes over time, supporting the case for booster doses, the company said in a news release on Wednesday.
This is only one estimate, but we do believe this means as you look toward the fall and winter, at minimum we expect the estimated impact of waning immunity would be 600,000 additional cases of COVID-19," Moderna President Stephen Hoge said on a conference call with investors.
HONG KONG (Reuters) - China Evergrande Group has raised fresh warnings of default risks, as it scrambles to raise funds to pay lenders and suppliers with regulators and financial markets worried that any crisis could ripple through China's banking system and trigger social unrest.
The leaked letter last year said Evergrande's liabilities involve more than 128 banks and over 121 non-banking institutions.
China Evergrande Group (HK:3333) shares slumped almost 10% after its main unit, Hengda Real Estate Group Co. Ltd., applied to suspend trading of its onshore corporate bonds on Thursday.
$AMC CEO Aron: Affirms will accept #Bitcoin for online ticket and concession payments by the end of year ; expects co. will also start to accept Ethereum and Litecoin - tweet (AMC Entertainment Holdings Inc).
RIVIAN IN TALKS TO RAISE WELL OVER $5 BLN IN UPCOMING IPO, COULD RAISE AS MUCH AS $8 BLN - SOURCES.
$ $ F | Walmart Teams With Ford, Argo For Multicity Driverless Delivery
Juunis 3,7 miljonit eurot kaasanud Eesti krüptoraha investeerimis- ja kauplemisplatvorm Change teatas, et laieneb Euroopast välja ning avab keskuse Singapuris - Ärileht Delfi.
XPeng Motors will announce the exact price and specifications of its flying car in 2023 and will deliver it in small quantities in 2024, according to a Weibo car blogger with 1.76 million followers.
Zhao Deli, president of XPeng Huitian said XPeng conducted a lot of market research when developing flying cars and concluded that the price range for a luxury car - RMB 800,000 ($124,000) to 1.5 million - is reasonable for the product - CNEV.
(EU) Select European Premarket Movers:
Wed, 15 Sep 2021 2:55 AM EST
- Inditex [ITX.ES] +3% (earnings)
- Darktrace [DARk.UK] +4% (earnings; raises outlook)
- H&M [HMB.SE] -3% (sales)
WASHINGTON (Reuters) - Underlying U.S. consumer prices increased at their slowest pace in six months in August as used motor vehicle prices tumbled, suggesting that inflation had probably peaked, though it could remain high for a while amid persistent supply constraints.
NEW YORK (Reuters) - Star stock picker Cathie Wood of ARK Invest on Tuesday reiterated her call that slowing economic activity in the United States will bolster growth stocks.
We think we are moving into the other side of the cycle" after the reopening from the coronavirus pandemic led to widespread commodity shortages earlier this year and bolstered cyclical value stocks, she said on a webinar.
(Reuters) - Apple Inc (NASDAQ:AAPL) on Tuesday launched a new series of iPhones and iPads, featuring a faster processor and better cameras.
(Bloomberg) -- China’s economy weakened further in August . Retail sales growth slowed sharply to 2.5% from a year ago, lower than the 7% estimate in a Bloomberg survey of economists. Industrial output rose 5.3%, versus the median estimate of 5.8%.
HONG KONG (Reuters) -Rating agency Fitch said that numerous sectors could be exposed to heightened credit risk if China's No.2 property developer Evergrande Group were to default, although the overall impact on the banking sector would be manageable.
HONG KONG (Reuters) - Asian shares fell on Wednesday as weak Chinese economic data reinforced worries about slowing growth globally as well as in the world's second-biggest economy amid fraught nerves over a still-dominant pandemic and tapering of central banks' stimulus.
$ Reports Q3 -$0.04 v -$0.05e, Rev $26.8M v $21.2Me (FuelCell Energy Inc).
*U.S. CONSUMER PRICE INFLATION RISES +0.3% IN AUGUST; EST. +0.4%.
*U.S. CORE CPI RISES +0.1% IN AUGUST; EST. +0.3%.
Oracle sees Q2 EPS $1.09-$1.13, consensus $1.08.
Oracle reports Q1 adjusted EPS $1.03, consensus 97c.
Reports Q1 revenue $9.73B, consensus $9.77B.
NEW YORK (Reuters) - Interactive Brokers (NASDAQ:IBKR) Group on Monday said it launched low-fee cryptocurrency trading on its platform, making it the latest online retail brokerage to add digital assets to its offerings.
(Bloomberg) -- China’s economy likely slowed further in August, with data on consumption, industrial output and investment due Wednesday to reveal the extent of the damage caused by an outbreak of the delta variant.
(Reuters) - Cryptocurrency executives should work with regulators instead of being their adversary for the sector to grow to its potential, members of a digital currency panel at Wall Street's SALT conference said on Monday.
(Reuters) -Enterprise software firm Oracle Corp (NYSE:ORCL) fell short of Wall Street expectations for first-quarter revenue on Monday, hurt by competition in the cloud computing space.
SEOUL (Reuters) -A South Korea's antitrust regulator has fined Alphabet (NASDAQ:GOOGL) Inc's Google 207 billion won ($176.64 million) for blocking customised versions of its Android operating system (OS).
Markets are awaiting U.S. inflation data on Tuesday, expected to show core consumer prices rose 0.3% in August. Prices were up 0.3% the previous month and 0.9% in June.
HONG KONG (Reuters) In Hong Kong, shares of developer China Evergrande Group slumped after revealing it had appointed financial advisers to examine its capital structure.
The company also said sales would fall again in August due to concerns over its debt which would hurt its liquidity and cash flow. Its shares dropped 7%.
HONG KONG (Reuters) - Asia's share markets were mixed and the dollar held steady on Tuesday, with investors awaiting U.S inflation data for more clues on when the Federal Reserve will taper stimulus.
Baidu Opens Robotaxi Service in Shanghai with Apollo Go Ride-Hailing Platform.
Chinese electric vehicle stocks also fell after the country’s industry minister said consolidation in the sector is needed as there are “too many” EV makers in China.
SINGAPORE — Shares in Asia-Pacific were mixed on Monday, with stocks in Hong Kong leading losses. Chinese tech, EV stocks fall on regulatory fears; property developer Soho China drops 35% on failed deal.
(EU) Select European Premarket Movers
Mon, 13 Sep 2021 2:45 AM EST
- Zooplus [ZO1.DE] +7% (increased offer)
- EasyJet [EZJ.UK] +12% (Ryanair press interview
(Reuters) - Virgin Galactic Holdings (NYSE:SPCE) Inc on Friday flagged a delay to its first commercial research mission with the Italian Air Force to mid-October due to a potential manufacturing defect.
The company also attributed the delay in the mission, named "Unity 23", to the pending resolution of a probe by the U.S. Federal Aviation Administration (FAA).
(Reuters) -"Fortnite" game maker Epic Games on Sunday said in a legal filing that it plans to appeal a ruling in its antitrust case against Apple Inc (NASDAQ:AAPL) after a federal judge on Friday handed down a mixed decision.
WASHINGTON (Reuters) -U.S. House Democrats are expected to propose raising the corporate tax rate to 26.5% from 21% as part of a sweeping plan that includes tax increases on the wealthy, corporations, and investors, according to two people familiar with the matter.
The overall package of tax changes, summarized in a four-page document circulating among lobbyists and congressional aides on Sunday, was estimated to raise $2.9 trillion in new revenue, largely covering the costs of President Joe Biden's $3.5 trillion domestic investment plan.
(Reuters) -Beijing wants to break up Alipay, the hugely popular payments app owned by Jack Ma's Ant Group, and create a separate app for the company's highly profitable loans business, the Financial Times reported on Sunday.
The plan will also see Ant turn over the user data that underpins its lending decisions to a new credit scoring joint-venture, which will be partly state-owned,
State-backed firms are set to take a sizeable stake in Ant's credit-scoring joint venture for the first time.
TOKYO (Reuters) - Japan's wholesale inflation hovered near a 13-year high in August as raw material imports continued to rise on solid global demand, data showed on Monday, putting pressure on companies to pass on higher costs to households.