Xi has repeatedly called Putin his best friend. He has also repeatedly refused to do anything to stop Russia’s full-scale invasion of Ukraine, and supplied dual-use military technologies, weapon-building components and satellite imagery, warns the U.S., to Russia. In a recent interview with POLITICO, U.S. Ambassador to NATO Julianne Smith highlighted Beijing’s support for Moscow, … Read more
Investment analysts are coalescing around a few potential winners in China’s car market after a 10-day auto show in Beijing put the ferocious competition on full display. The opening morning of China’s biggest auto show of the year — April 25 in this case — is typically a mad rush. But this time, the sheer … Read more
The Xiaomi SU7 on display at the Mobile World Congress 2024. Arjun Kharpal | CNBC BEIJING — Chinese smartphone company Xiaomi‘s new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla‘s Model 3 on price. Xiaomi has received more than 70,000 orders for its electric SU7 sedan as of … Read more
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Cloudflare : Shares of the content delivery network were sinking 16% after the midpoint of the company’s second-quarter revenue outlook came in short of analyst estimates. “People feel they are losing share. I don’t think they are,” Cramer … Read more
Mumbai: The RBI on Friday tweaked rules to reduce the risk faced by banks in their exposure to capital market in the case of issue of Irrevocable Payment Commitments (IPCs). The RBI issued a circular stating that “only those custodian banks will be permitted to issue IPCs, who have a clause in the agreement with … Read more
Chinese new energy vehicle giant shows off the latest version of its Han electric sedan at the Beijing auto show on April 26, 2024. CNBC | Evelyn Cheng BEIJING — Chinese automakers, including state-owned auto giant GAC Group, can’t afford to take it easy in the country’s electric car boom if they want to survive. … Read more
The President of the European Central Bank (ECB) Christine Lagarde gestures as she addresses a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on April 11, 2024. Kirill Kudryavtsev | Afp | Getty Images The prospect of the European Central Bank diverging from the Federal … Read more
European stock markets diverged Thursday as investors digested the Federal Reserve interest rate outlook and awaited Apple’s latest results on eve of critical US payroll data. London’s stocks rose, helped by forecast-busting first-quarter earnings from energy major Shell, but Frankfurt and Paris retreated as both markets returned from a May Day holiday. Federal Reserve boss … Read more
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Carvana : Shares of the buying and selling online platform were soaring 35% on Thursday after a record first quarter. CEO Ernie Garcia realized, unlike Wall Street analysts had, that he was OK after getting the Apollo money, … Read more
Attendees view vehicles at the Jeep booth during opening day of the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 7, 2023. Stephanie Keith | Bloomberg | Getty Images Global automaker Stellantis on Tuesday reported a 12% decline in revenue in the first quarter, citing lower sales and foreign exchange effects, … Read more
