Category: News
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Volkswagen to ramp up solid-state battery production in QuantumScape deal
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BERLIN (Reuters) – Volkswagen said on Thursday it will significantly ramp up production of solid-state batteries it developed with U.S. startup QuantumScape as the German carmaker aims to fit the technology into more vehicles. Under an agreement announced Thursday, VW’s PowerCo battery unit will receive a license to mass-produce battery…
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Biden administration to award $1.7B in grants to boost domestic EV production (NYSE:GM)
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The Biden administration plans to provide $1.7 billion to boost production of electric vehicles and their components in eight U.S. states. The U.S. Department of Energy has announced $1.7 billion in planned grants to support the conversion of 11 “at-risk” facilities to enable Producing one million electric cars annually. The…
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After a surge in pandemic profits, Rolex, Patek Philippe and Audemars Piguet face a significant downturn as sales slip—extending a two-year decline
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Prices of the most sought-after luxury watches on the secondary market fell again last month, extending a two-year decline as investors turned elsewhere after a pandemic-era rally failed. The Bloomberg Sabdial Watch Index, which tracks the 50 most-traded hours by value, fell less than 1% in June. It has fallen…
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Staff allowed to choose working hours in new trial
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Hundreds of British workers will soon have greater flexibility over their hours as part of a new pilot project to drive a formal four-day working week. This six-month project, which builds on the initial 2022 pilot, will explore different flexible working models, including flexible start and finish times, nine-day work…
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Stock market today: Asian shares zoom higher, with Nikkei over 42,000 after Wall St sets new records
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Breadcrumbs Path Links PMN Business Article author: Associated Press Ellen Kurtenbach Published on July 11, 2024 • Read for 3 minutes You can save this article by registering for free here. Or log in if you have an account. Article Content Asian stocks advanced on Thursday after a big rally…
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Investors returning to Israel’s housing market
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May 2024 saw the highest number of home purchases by investors since the purchase tax for owners of multiple residences (two or more homes) was raised. For the first time since 2022, investors are buying more homes than they are selling, according to a survey of residential real estate activity…
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Eurofins Provides Update to Key Stakeholders on Current and Upcoming Actions Following Communications Published by Muddy Waters Since 24 June 2024
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Luxembourg-(Business): Regulatory News: Eurofins (Paris:ERF): As in previous press releases published by Eurofins on 25 June 2024, 03 July 2024 and 05 July 2024 in response to the unsubstantiated reports by Muddy Waters (NYSE:), LLC (MW), Eurofins would like to provide clear and direct communication on matters of utmost importance…
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Stocks stride to record highs ahead of US inflation test
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By Tom Westbrook SINGAPORE (Reuters) – Stocks rose on Thursday as markets from Tokyo to New York hit record highs, as traders awaited U.S. data expected to show inflation is falling and pave the way for an interest rate cut in September. Bonds and the dollar remained steady, keeping the…
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CFRA sees 3 clues from Powell’s Congressional testimony about the timing of rate cuts
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Bonnie Cash/Getty Images News Market research firm CFRA said it spotted three hints about the timing of a rate cut from Fed Chair Jerome Powell’s comments. Policy Certificate This week on Capitol Hill. Powell appeared before the House Financial Services Committee on Wednesday, concluding his remarks. Two days with legislators…
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The largest salmonella outbreak tied to raw milk in a decade has sickened people in four states, and 40% of the victims are children
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Dozens of salmonella illnesses have been linked to raw milk from a California farm, an outbreak much broader than previously known, according to newly released government records. As of February, at least 165 people have been sickened by salmonella infections linked to products from Raw’s Fresno, California-based farm, according to…
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Tanzania’s Amsons makes Sh23bn Bamburi buyout offer
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A Tanzania-based group with interests in energy, construction, food and transport has made a $180 million (Sh23.15 billion) offer to acquire the entire stake in Bamburi Cement in what would be one of the largest takeover deals in East Africa. Amsons Group, a family-owned business with operations in Tanzania, Zambia,…
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Tanzania’s Amsons makes Sh23bn Bamburi buyout offer
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A Tanzania-based group with interests in energy, construction, food and transport has made a $180 million (Sh23.15 billion) offer to acquire the entire stake in Bamburi Cement in what would be one of the largest takeover deals in East Africa. Amsons Group, a family-owned business with operations in Tanzania, Zambia,…
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In China’s Industrial Heartland, Xi’s Revamp Plan Comes at a Cost
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Breadcrumbs Path Links PMN Business The use of state power to accelerate advanced manufacturing has left even sophisticated sectors struggling with oversupply. Article author: Bloomberg News Bloomberg News Published on July 10, 2024 • Read for 4 minutes You can save this article by registering for free here. Or log…
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Morocco becomes huge customer for Israel’s defense industry
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yesterday Israel Aerospace Industries Israel Aerospace Industries (IAI) has announced a $1 billion, five-year deal with an unnamed third party. Foreign media reported that the deal relates to satellites first announced last year. The presence of IAI CEO Amir Peretz in Morocco when the deal was announced also bolstered the…
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Morphic holding’s CFO and COO sells shares worth over $2.45 million By Investing.com
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In a recent move, Mark Chigerin, the chief financial officer and chief operating officer of Morphek Holdings, Inc. (NASDAQ: ), sold a significant number of the company’s shares. According to the latest filing, Chigerin sold 43,936 shares of common stock at various prices, with the transactions totaling more than $2.45…
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Big Tech surges as S&P 500 crosses 5,600 for first time
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On Thursday, investors will digest one of the most important data points that will shape the Federal Reserve’s future interest rate policy: the June consumer price index. The inflation report, due at 8:30 a.m. ET, is expected to show headline inflation at 3.1%, slowing from a 3.3% gain in May.…
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Six Flags falls after Goldman Sachs warns of a bumpy ride to hitting synergy targets
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Wirestock/iStock Editorial via Getty Images Six Flags Entertainment CorporationNew York Stock Exchange: Fun) fell on Wednesday after Goldman Sachs issued some cautious comments about the theme park company while it was getting coverage. Analyst Lizzie Dove warned that achieving revenue synergies could be difficult for the new company. “We “FUN…
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Jerome Powell is suddenly bearish on the jobs market and it’s a welcome sign for Wall Street
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Federal Reserve Chairman Jerome Powell on Wednesday reinforced the message that the central bank is increasingly paying attention to a slowing labor market and not just taming inflation, a shift that suggests it is likely to start cutting interest rates soon. “We are not just an inflation-targeting central bank. We…