Business News
Saudi fund may only play minor part in Musk’s $72 billion Tesla plan: bankers
Elon Musk told investors this week that “obviously, the Saudi sovereign fund has more than enough capital needed” to finance taking Tesla private.
Year: 2018
Business News
Chinese oil importers shun U.S. crude despite tariff reversal
Chinese oil importers are shying away from buying U.S. crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary.
Business News
Long-acting injection a shot in the arm for GSK’s HIV business
A long-acting injection developed by GlaxoSmithKline and given once a month has proved as effective as standard daily pills for controlling the AIDS virus, lifting prospects for the British drugmaker’s key HIV business.
Business News
Turkey doubles tariffs on some U.S. imports; Turkish lira rallies
Turkey doubled tariffs on some U.S. imports including cars, alcohol and tobacco on Wednesday in retaliation for U.S. moves, but the lira rallied a further six percent after a fresh move by banking authorities to underpin the currency.
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Asian shares mostly lower despite easing fears over Turkey
BANGKOK (AP) — Shares were mostly lower in Asia on Wednesday despite a rally overnight on Wall Street as investors’ jitters over the Turkish currency crisis eased. …read more […]
Business News
Turkey doubles tariffs on some U.S. imports over economy ‘attacks’
Turkey has doubled tariffs on some U.S. imports, such as passenger cars, alcohol and tobacco, in what its vice president said was a response to deliberate U.S. attacks on the Turkish economy.
Business News
Asian stocks hit one-year low amid Turkey woes, bearish China equities
Asian stocks retreated to a one-year low on Wednesday as bearish Chinese markets worsened investor sentiment already hurt by Turkey’s financial crisis.
Business News
Express Scripts staking out million dollar gene therapies
Express Scripts Holding Co built a multi-billion enterprise pressuring drug companies to lower their prices for U.S. patients. Now it is quietly building a side business: getting paid to help drug companies dispense a new generation of high-priced drugs.
Business News
Walmart teams up with Ellen DeGeneres to launch fashion line
Walmart Inc said on Wednesday that it would tie up with comedian and talk show host Ellen DeGeneres to launch a women’s fashion line, its latest attempt to make deeper inroads into the apparel space and gain market share in the category.
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India Is Flirting With China-Like Tech Policies and That’s Not Good News for FANG Stocks
The Wall Street Journal recently reported that India is drafting new China-like policies in the technology space that have the ultimate goal of leveling the playing field between U.S. tech giants and India’s home-grown technology businesses. Between Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Google (NASDAQ:GOOG), none of them have a significant presence in China, the world’s largest consumer market, because of protectionist policies. As a result, each of them has been been making a big push in India, the world’s second-largest consumer market. …read more […]
Business News
Asian stocks retreat as Turkey worries weigh, dollar buoyant
Asian stocks retreated on Wednesday, failing to follow Wall Street’s gains, while the dollar was near a 13-month high as concerns about Turkey’s financial crisis weighed on investor appetite despite the lira’s move away from an all-time low.
Trading Ideas
Apple Has Made a Mistake by Ignoring This Big Market
Cupertino has ground to make up in the world’s third-largest smartphone market. …read more […]
Trading Ideas
Y Combinator to Set Up China Arm With Ex-Baidu Exec Qi Lu as CEO
Former Baidu Inc. Chief Operating Officer Qi Lu has been named chief executive officer of Y Combinator China, marking the American startup incubator’s first fully-fledged international effort. Y Combinator, which has seeded companies including Airbnb Inc., Stripe Inc., Reddit and Dropbox Inc., will start its program in China as soon as next summer, according to an interview with the president of Y Combinator, Sam Altman. In the U.S., the accelerator selects two batches of companies a year that receive financing, advice and connections in exchange for a small percentage of equity. …read more […]
Business News
Asian stocks weaken as Turkey worries weigh, dollar stands tall
Asian stocks sagged on Wednesday, failing to track Wall Street’s gains and with the dollar near a 13-month high as concerns about Turkey’s financial crisis weighed on investor appetite, despite the lira’s move away from an all-time low.
Business News
China says U.S. solar tariffs violate trade rules, lodges WTO complaint
A U.S. decision to subsidize its renewable energy companies and impose tariffs on imported products has seriously distorted the global market and harmed China’s interests, China’s Ministry of Commerce said late on Tuesday.