Month: July 2022
Elon Musk is smart — but he doesn’t understand ESG, tech CEO says
In May, electric-vehicle maker Tesla was removed from the S&P 500’s ESG Index. In response, CEO Elon Musk tweeted that ESG was “a scam” that had been “been weaponized by phony social justice warriors.” Jim Watson | AFP | Getty Images Tesla chief Elon Musk may have misunderstood the meaning behind ESG (environmental, social, and […]
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Oil major TotalEnergies to provide fuel discount at French highway stations through summer
TotalEnergies has announced a discount on fuel prices at highway stations in France for the summer holiday season. Picture Alliance | Picture Alliance | Getty Images French oil major TotalEnergies on Thursday announced a discount on fuel prices at nationwide highway stations for the summer holiday season, acknowledging the “great tension” in energy markets following […]
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Forget the Eiffel Tower. Here’s where the French travel in France
International travelers may prioritize visits to the Eiffel Tower and the Louvre when they visit France. But French residents have other ideas. Border restrictions during the pandemic largely gave locals the chance to explore their country without foreign tourists, which in 2019 numbered some 90 million. The French did not squander the opportunity. More […]
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Forget rate hikes, these analysts are predicting interest rate cuts next year
Some central bank watchers believe the Fed and the ECB will have to stop their tightening cycles because of an upcoming recession. Olivier Douliery | AFP | Getty Images Central banks around the world might have embarked upon a path of aggressive rate hikes — but not everyone is expecting this approach to last. The […]
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General Motors calls off plan to sell India car plant to China’s Great Wall
A photo of workers in a car factory in India. General Motors (GM) said on Friday it had called off the sale of a shuttered Indian plant to China’s Great Wall Motor after they failed to obtain regulatory approvals, amid a tougher stance by New Delhi towards investments from Beijing. Amit Pasricha | IndiaPictures | […]
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China’s Xi says Hong Kong is moving ‘from chaos to governance’
Chinese President Xi Jinping and Hong Kong’s new Chief Executive John Lee at the swearing-in ceremony on July 1, 2022. Xi, in his first trip outside the mainland since Covid struck, presided over the ceremony. Justin Chin | Bloomberg | Getty Images BEIJING — Chinese President Xi Jinping on Friday laid out a future for […]
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Kohl’s terminates sale talks with Vitamin Shoppe owner Franchise Group, sources say
A Kohl’s store in San Rafael, Calif. Getty Images Kohl’s is terminating talks to sell its business to The Vitamin Shoppe owner Franchise Group, two people familiar with the matter told CNBC on Thursday. The people requested anonymity because a decision from Kohl’s has not been publicly announced. Representatives from Kohl’s and Franchise Group didn’t […]
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Here’s what China’s real estate debt crisis could mean for Asia junk bond investors
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images China’s real estate bonds were once key performance drivers for Asia junk bond funds, but the market share from property bonds has fallen as a result of the country’s property […]
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American Airlines offers pilots nearly 17% raises in new contract proposal
Pilots talk as they look at the tail of an American Airlines aircraft. Mike Stone | Reuters American Airlines CEO Robert Isom on Thursday said the carrier has offered its pilots pay raises totaling nearly 17% under a new contract, according to an internal video seen by CNBC. The latest proposal to the pilots’ union, […]
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Asset manager says the S&P 500 is primed for a rally — and reveals his top stock picks
The S & P 500 — down about 20% so far this year — is on pace for its worst first half of the year since 1970. But fund manager Robert Luna believes it could be primed for a rally. “It’s definitely time for a rally talk because there’s a lot of pessimism out there right […]
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