Tesla is already cutting the price of its China-built cars just days after starting deliveries. The electric car company just slashed the starting price of its Shanghai-made Model 3 sedan to 323,800 Chinese yuan (about $46,400) from 355,800 yuan (about $51,000), according to its website. With government subsidies, the cost could drop to as low
Gary Cohn, the top economic adviser to U.S. President Donald Trump and a voice for Wall Street in the White House, said on Tuesday he would resign, a move that came after he lost a fight over Trump’s plans for hefty steel and aluminum import tariffs. The departure of Cohn, director of the National Economic
Ant Financial and MoneyGram have already refiled for clearance from Committee on Foreign Investment in the United States (CFIUS) when they were unable to secure it within an assessment period after the first application, Reuters reported in July, citing sources. “We are not commenting on the CFIUS process, but we are continuing to work with
AT&T is working with a financial adviser to field interest in the assets, which could be valued at more than $8 billion, the people added, asking not to be named because the matter is private. Liberty Global PLC (LBTYA.O), Spanish telecommunications company Telefonica SA and Millicom International Cellular SA (MICsdb.ST), a wireless player in Latin
U.S. equity investors could rotate out of high-yielding sectors and into stocks of banks, which would benefit from the next leg up in interest rates, after the Federal Reserve’s policy-setting meeting wraps up on Wednesday. If the Fed next week gives a nod to rising inflation or focuses its trimmed-down bond buying on longer-dated bonds
A.P. Moller-Maersk has been fortified by the $7.5 billion sale of its oil and gas business to France’s Total, but the company’s main sea freight business faces the threat of a new price war in a consolidating industry. Maersk, the world’s biggest container shipping company, has shifted its focus this year from preserving market share
China’s largest sport utility vehicle (SUV) manufacturer made a direct overture to Fiat Chrysler on Monday, with an official saying the company was interested in all or part of FCA, owner of the Jeep and Ram truck brands. Automotive News first reported the news, quoting Great Wall Motor President Wang Fengying as saying she planned
On Goldman’s fixed income earnings call, Vince said Goldman had added $5 billion of online deposits since it acquired General Electric Co’s online deposits business in 2016. Goldman has also added 60,000 new customers since then, with a focus on U.S. savers. Goldman has around $125.5 billion in deposits, still a small fraction of deposits
The Nasdaq Composite, however, was kept in check by losses in healthcare shares, led by Regeneron. The drugmaker’s (REGN.O) shares were down 3.84 percent after a rating downgrade. All eyes will now be on the quarterly performance of Dow-component Apple (AAPL.O), which reports after the closing bell. The iPhone maker’s shares were up 0.11 percent.
Samsung Electronics Co Ltd (005930.KS) said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs. The investment underscores Samsung’s determination to widen its lead in memory chips, which are
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months.
President Donald Trump will meet with the chief executives of technology companies including Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O) on Monday as the White House looks to the private sector for help in cutting government waste and improving services. White House officials said on a conference call on Friday that the administration believed there
Blue Apron Holdings Inc said on Monday it expected its initial public offering to be priced at $15 to $17 per share, giving the biggest U.S. meal kit delivery company a valuation as high as $3.18 billion. New York-based Blue Apron, named after the uniform that apprentice chefs wear in France, delivers pre-packaged ingredients and
A van plowed into worshippers near a London mosque on Monday, injuring 10 people in what Prime Minister Theresa May said was a sickening, terrorist attack on Muslims. Shortly after midnight, the vehicle swerved into a group of people leaving prayers at the Muslim Welfare House and the nearby Finsbury Park Mosque in north London,
Toyota Motor Corp (7203.T) said on Saturday it had sold all shares in Tesla Inc (TSLA.O) by the end of 2016, having canceled its tie-up with the U.S. luxury automaker to jointly develop electric vehicles. Japan’s biggest automaker had bought around a 3 percent stake in the Palo Alto-based automaker for $50 million. Toyota spokesman
Former FBI Director James Comey will be grilled on whether President Donald Trump tried to get him to back off an investigation into alleged ties between the Trump campaign and Russia, key U.S. senators said on Sunday ahead of Comey’s testimony this week on Capitol Hill. Comey, who was leading the Federal Bureau of Investigation’s
Embattled Audi Chief Executive Rupert Stadler only got a five-year contract extension last month because of an agreement among supervisory board members that he would not serve out his full term, two sources close to the company’s supervisory board told Reuters. How long Stadler will remain in his current position remains unclear, the sources said.
Mobile phone apps took center stage at Google’s annual developer conference on Wednesday as the search giant announced new features for its digital assistant and its popular photo app while devoting little time to the Android mobile operating system. Addressing an audience of thousands of developers in Mountain View, California, Google executives delivered a broad-based
European Union antitrust regulators fined Facebook (FB.O) 110 million euros ($122 million) on Thursday for giving misleading information during a vetting of its deal to acquire messaging service WhatsApp in 2014. Calling it a “proportionate and deterrent fine”, the European Commission, which acts as the EU’s competition watchdog, said Facebook had said it could not
Swirling uncertainty over U.S. President Donald Trump’s political future saw world stocks extend their steepest fall in over six months on Thursday, though there were signs of stabilization elsewhere as the dollar and gold steadied. Reports that Trump had tried to intervene in an investigation into alleged Russian interference in last year’s U.S. election and