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PepsiCo’s beverage sales dip, but snack sales increase

PepsiCo’s beverage sales are still struggling as the company tries to adjust to Americans’ changing drinking habits. The maker of Gatorade, Mountain Dew and Tropicana said Tuesday that sales volume declined for its North American beverage unit in the second quarter. The dip came despite the company’s efforts in recent years to introduce new drinks that are in line with trends. …read more […]

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Tesla Plans China Plant With 500,000 Vehicle Capacity

Tesla Inc. is planning a factory in China with a capacity for 500,000 vehicles a year, its biggest step beyond the U.S. so far, according to people familiar with the matter. Tesla is due to sign a memorandum of understanding with local entities in Shanghai, the people said, asking not to be identified as the information isn’t public. Bloomberg reported earlier that Chief Executive Officer Elon Musk would be in the city for an event with the government on Tuesday. …read more […]

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The Thai government responded to Elon Musk, and said his submarine idea is 'not practical' for the cave rescue

Musk has floated a number of ways to rescue the Thai soccer team stuck in a cave, and sent engineers to the site. The Thai prime minister said he was “highly appreciative” of Musk’s initiative. Elon Musk has floated a variety of ways to help free the members of the Thai soccer team — but his kid-sized submarine has been politely rejected for being “not practical” for the mission. …read more […]

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Tesla moves first to hike prices in China as trade war hits car makers

BEIJING/SHANGHAI (Reuters) – U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries. The move is the earliest indication of how much higher Chinese tariffs on certain U.S. imports will flow through to buyers, with other automakers likely to follow suit or shift a greater portion of production to China. “It’s only chapter one of this story,” said James Chao, a Shanghai-based analyst at consultancy IHS Markit, …read more […]

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US STOCKS-Dow, S&P 500 post best session in over a month; banks lead gains

U.S. stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week. Industrial, energy and consumer discretionary shares also rose sharply, while S&P utilities and telecommunications – among the market’s recent outperformers – led percentage declines. The S&P banks index climbed 2.7 percent, registering its biggest daily percentage gain since March 26. …read more […]

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Dow, S&P 500 post best days in more than a month; banks lead gains

U.S. stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week. Industrial, energy and consumer discretionary shares also rose sharply, while S&P utilities and telecommunications – among the market’s recent outperformers – led percentage declines. The S&P banks index climbed 2.7 percent, registering its biggest daily percentage gain since March 26. …read more […]

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HPE could mitigate impact of future U.S. tariffs, CEO says

Hewlett Packard Enterprise Co (HPE.N) can boost manufacturing at its facility in Wisconsin if trade tensions with China escalate, Chief Executive Antonio Neri said on Monday. Speaking at a Reuters Newsmaker event in San Francisco, Neri said HPE, whose products are not directly affected by tariffs that took effect last week, could modify production plans if additional tariffs affect its equipment made in China. HPE produces three servers every 10 seconds globally. …read more […]