Musk begins testifying in defense of Tesla’s $2.6 bln deal for SolarCity
WILMINGTON, Del., July 12 (Reuters) – Elon Musk took the stand on Monday to defend Tesla Inc’s (TSLA.O) 2016 acquisition of SolarCity against a lawsuit by shareholders seeking to recoup the $2.6 billion the company paid for the ailing solar panel maker. “Pretoria, South Africa,” said Musk, responding to the first question of where he was born. […]
Wall St set for mixed open as focus turns to earnings, economic data
July 12 (Reuters) – Wall Street’s main indexes were set to open mixed on Monday after rallying to new peaks in the previous session, with investors awaiting the start of the second-quarter earnings season and a batch of economic data. The three major U.S. stock indexes notched record closing highs on Friday as financials and […]
After U.S. push, EU pauses tax plan, but Ireland sticks to its guns
The European Union has agreed to delay a corporate tax plan for the bloc following pressure from the U.S. administration and in a bid to facilitate a broader global tax deal, but EU member Ireland reiterated its criticisms of the wider reform.
BlackRock CEO calls for stronger climate finance plan at G20 meet
BlackRock (BLK.N) Chief Executive Larry Fink on Sunday called for governments to develop a stronger long-term climate finance plan to unlock the private capital needed to fund the transition to a low-carbon economy.
Vietnam’s VinFast starts operations in North America and Europe
Vietnam’s first domestic car manufacturer, Vinfast, said on Monday it has opened offices in North America and Europe, joining a crowded field of players seeking to woo customers with smart electric cars.
Asia shares bounce as mood shifts, sentiment fickle
Asian shares were enjoying a relief rally on Monday as record highs on Wall Street and policy easing in China helped calm some of the recent jitters on global growth, though plenty of potential pitfalls lay ahead this week.
Virus variants threaten global recovery, G20 warns
An upsurge in new coronavirus variants and poor access to vaccines in developing countries threaten the global economic recovery, finance ministers of the world’s 20 largest economies warned on Saturday.
Analysis: China’s RRReminder that economies remain fragile
China’s decision on Friday to give its economy a 1 trillion yuan ($154 billion) shot in the arm has given investors a reminder that even the largest economies are likely to need the occasional pick-me-up while the coronavirus pandemic lasts.
In a tax dispute, Cairn Energy has the legal authority to take Indian assets!
As part of a long-running tax dispute, UK oil major Cairn Energy has been granted the authority to take Indian national resources in France worth more than €20 million (£17 million). As Cairn raises stress on the Indian government over contested tax charges, a French panel has imposed the freezing of roughly 20 homes in […]
Premium cars drive Volkswagen profit above pre-pandemic levels
Volkswagen’s (VOWG_p.DE) first-half operating profit is expected to reach around 11 billion euros ($13 billion), it said on Friday, topping pre-pandemic levels on strong demand in Europe and the United States, particularly for Porsches and Audis.
