Business & Finance News
The Turkish lira tumbled nearly 5 percent against the dollar on Monday after a week-long holiday, hit by persistent concern about a diplomatic rift with Washington over a U.S. pastor on trial in Turkey.
Shares in Tesla Inc fell just over 3 percent on Monday after it abandoned a plan to take the electric carmaker private, with some analysts suggesting it should either replace Chief Executive Elon Musk or appoint another strong senior manager.
World stocks rose to their highest level in over two weeks on Monday, following reassuring comments from the U.S. Federal Reserve chief, signs of progress on a U.S.-Mexico NAFTA trade deal and a bid by China’s central bank to stabilize the yuan.
Turkey’s currency crisis has roiled emerging-markets investors far and wide, including the U.S. state of Tennessee, where the state’s retirement system is the biggest institutional holder in a Turkey exchange-traded fund (ETF).
Volkswagen’s external compliance monitor on Monday said he disagreed with some VW executives’ use of privacy and attorney client privilege rights to withhold information about a $27 billion global emissions cheating scandal.
China’s yuan finished Monday afternoon trade at a near 4-week high to the dollar after the central bank revived a “counter-cyclical factor” in its daily fixing to support the currency, halting a record 10-week slide that rattled global markets and irritated Washington.
World stock markets rose to their highest level in more than two weeks on Monday as reassuring comments from the U.S. Federal Reserve chief, an easing in trade war jitters and a bid by China’s central bank to stabilize the yuan lifted risk appetite.
Volkswagen’s external compliance monitor on Monday said he disagreed with some VW executives’ use of privacy and attorney client privilege rights to withhold information about a $27 billion global emissions cheating scandal.
Trading in Tesla shares in Germany on Monday pointed to a 5 percent drop when U.S. markets open as investors reacted to Chief Executive Elon Musk’s decision to abandon plans to take the luxury electric car maker private.
Germany-listed shares in Tesla fell more than 3 percent in early deals on the Tradegate exchange on Monday, after Chief Executive Elon Musk called off his bid to take the company private.
Asian shares rose on Monday, taking heart from comments by the Federal Reserve chairman that drove Wall Street to record highs on Friday, and as a tweak to the way China’s central bank manages its currency boosted the yuan and stocks.
Investors on Monday will render their verdict on Tesla Inc Chief Executive Elon Musk’s decision to abandon a proposed $72 billion buyout to take the luxury electric car maker private.
Asian shares rose on Monday, boosted by record Wall Street highs on Friday after reassuring comments from the Federal Reserve’s chairman, and as stock markets in China gained after the country’s central bank tweaked its management of the yuan.
The yuan hovered at a 2-1/2-week high against the U.S. dollar on Monday after China’s central bank revived a “counter-cyclical factor” in its daily fixing to support the currency, arresting a record 10-week slide that has rattled global markets.
U.S. and Mexican trade negotiators are close to squaring away bilateral differences on the North American Free Trade Agreement (NAFTA) and will resume talks on Monday morning, Mexican Economy Minister Ildefonso Guajardo said on Sunday.
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