This China EV maker should not be worth so much less than Tesla, Bernstein says
Tesla’s most direct competitor is comparable across sales volumes, revenues and profits — and could rally 61%, according to Bernstein.
Tesla sues Swedish government after postal workers allegedly block license plate deliveries
Tesla filed a lawsuit against the Swedish Transport Agency on Monday.
Apple iPhone maker Foxconn to invest $1.5 billion in India as it looks to build beyond China
Hon Hai Precision Industries will invest $1.54 billion in an Indian subsidiary for “operational needs,” and hire builders for a to-be-announced project.
Goldman says ‘shine is returning’ for gold as investors ramp up bets on rate cuts
Goldman Sachs analysts said in a note Sunday that gold’s “shine is returning.”
UAE reportedly planned to use COP28 climate summit to lobby for oil and gas deals
COP28 will be held in Dubai, with scores of world leaders and government ministers from nearly 200 countries expected to attend.
Flying taxi firm Lilium receives EU approval for its electric jets
Air taxi firm Lilium has been granted EU approval to design and operate its electric vertical takeoff and landing vehicles globally.
Bank of England needs reform, damning new report from lawmakers finds
The Economic Affairs Committee said the central bank risked a “democratic deficit” and that a lack of intellectual diversity had led to forecasting failures.
Coinbase CEO says crypto industry can turn the page after historic Binance settlement
The crypto industry can close the chapter on a litany of scandals after Binance was hit with a historic settlement, Coinbase CEO Brian Armstrong told CNBC.
South Korea wants to become one of the world’s biggest arms dealers
South Korea has ambitious plans to be the fourth-largest weapons exporter by 2027, after the United States, Russia and France. Between 2010 and 2017, Seoul tripled its total defense exports to $3.1 billion. So, how did South Korea become one of the wor…
TikTok owner ByteDance axes hundreds of jobs in gaming unit as it scales back ambition
Over the past few years, ByteDance has made an aggressive push into gaming in a bid to challenge other gaming giants like China’s Tencent and NetEase.
