Month: August 2024
Chinese EV maker Zeekr says its new battery can charge faster than that of a Tesla
Key Points In just 10.5 minutes, Zeekr’s new batteries can go from a 10% to an 80% charge, using the automaker’s ultra-fast charging stations, the U.S.-listed electric car company said Tuesday. Tesla’s Model 3 can recharge up to 175 miles in 15 minutes, or about 48% of the stated 363 mile-range, according to the company’s […]
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We drove Chinese EVs to see why rival automakers are worried
Trade groups say Chinese electric vehicles pose an “existential threat” to the U.S. auto industry. China currently makes about one out of every three of the world’s new vehicles, and it has the capacity to make even more, according to research firm Dunne Insights. But faced with a growing preference for hybrids at home and […]
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Murdoch family battle highlights Nevada’s secret trust boom
(L to R) Rupert Murdoch, executive chairman of News Corp and chairman of Fox News, and Lachlan Murdoch, co-chairman of 21st Century Fox, walk together as they arrive on the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho. Drew Angerer | Getty Images News | […]
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Home Depot expects sales to weaken as consumers grow more cautious
Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand. The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. […]
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HelloFresh shares pop 11% as meal kit giant beats profit estimates
Shares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth. HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m. […]
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The big ‘carry trade’ unwind is far from over, strategists warn
A man walks in front of an electronic quotation boards displaying the share price on the Tokyo Stock Exchange (L) and the foreign exchange rate for the Japanese yen against the US dollar (R) in Tokyo on August 6, 2024. Kazuhiro Nogi | Afp | Getty Images It’s too early to give the all-clear to […]
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Unwinding of carry trade will benefit Japan, Monex Group’s Koll says
Corrections in the yen and the unwinding of the carry trade are positive developments for Japan, said Jesper Koll, a veteran investor who remains bullish on the Japanese market. “It forces investors to focus on the real Japan strategy … not just a quick carry trade, borrowing at close to zero interest rates in Japan […]
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Auctions of early King Charles bank notes raise $1.17 billion for charity
A person holds some of the newly released banknotes, featuring the King’s portrait, outside the Bank of England, London. Lucy North – Pa Images | Pa Images | Getty Images LONDON — Auctions of King Charles III bank notes with low serial numbers have raised £914,127 ($1.17 million) for charity, according to the Bank of […]
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People leave New Zealand in record numbers as economy bites
Auckland, New Zealand. Scott E Barbour | The Image Bank | Getty Images People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended […]
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CNBC Daily Open: Oil soars on Middle-East tensions
Traders work on the floor of the New York Stock Exchange during afternoon trading on March 27, 2024. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. […]
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