Month: August 2024
How China became the leading car supplier to Mexico and what it means for the U.S.
Blocked from the U.S. by tariffs, Chinese electric vehicle makers have looked elsewhere to sell their high-tech cars. But as Mexico has emerged as a hot spot for Chinese EVs, Washington officials worry the country may be used as a “backdoor” to the U.S. market. Last year, China was the leading car supplier to Mexico, […]
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Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
Check out the companies making headlines before the bell. Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. Piper Sandler believes gross margin expansion and efficiency gains are upside catalysts for the stock. Peloton — Shares of the connected fitness company slid about 2.4%, […]
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Stock futures rise with all eyes on Powell’s key Jackson Hole speech: Live updates
Traders on the floor of the New York Stock Exchange on Aug. 4, 2022. Source: NYSE Stock futures rose Friday as traders await an all-important policy speech from Fed Chair Jerome Powell for any guidance on future rate cuts. Futures on the Dow Jones Industrial Average gained 157 points, or 0.4%. S&P 500 and Nasdaq-100 […]
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Crypto industry accounts for almost half of corporate donations in 2024 election, report says
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign rally in Milwaukee, Wisconsin, U.S. August 20, 2024. Marco Bello | Reuters As the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to try and influence the results. Nearly half of all the corporate money flowing into […]
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Why these Japanese companies want to make hydrogen on the moon
Two Japanese companies have teamed up to achieve one big goal: producing hydrogen on the moon. Takasago Thermal Engineering has designed a mini electrolyzer that can adapt to low gravity and endure a rocket’s intense vibrations during liftoff. Once in space, the hydrogen-making machine will be operated remotely from ispace’s Mission Control Center in Tokyo. […]
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Classic car sales stall in Monterey auctions as new generation takes charge
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Auction sales during Monterey Car Week fell 3% from last year, as a shift from older to newer cars left a pileup of […]
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Canada moves to end rail shutdown quickly; CN workers to return to work Friday
Workers at Canadian National Railway will begin returning to work on Friday, the Teamsters union said, hours after the Canadian government moved to end an unprecedented rail stoppage. The union said the work stoppage at Canadian Pacific Kansas City would continue pending an order from the Canadian Industrial Relations Board (CIRB). The union and company […]
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Why remote work has staying power: It’s ‘still kicking,’ economist says
Key Points Remote work surged during the Covid-19 pandemic and appears to have staying power. It has endured largely because it has perceived benefits for both workers and employers, economists said. Source
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Nestle CEO departure seen as ‘not such a bad thing’ for investors, analyst says
Swiss food giant Nestle’s headquarters in Vevey, Switzerland. Fabrice Coffrini | Afp | Getty Images LONDON — Investors may think that the replacement of Nestle CEO Mark Schneider with company veteran Laurent Freixe is “not such a bad thing,” analyst Jon Cox said Friday. Cox, who is head of consumer equities at Kepler Cheuvreux, told […]
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World’s second-largest diamond discovered in Botswana
Botswana’s President Mokgweetsi Masisi holds a large diamond discovered in Botswana at his office in Gaborone on August 22, 2024. Monirul Bhuiyan | Afp | Getty Images One of the largest diamonds ever to be excavated was found in Botswana at a mine owned by Canadian firm Lucara Diamond. The 2,492-carat diamond is the world’s […]
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