Saudi Arabia’s STC Group (7010. SE) has amassed a 9.9% stake in Telefonica (TEF.MC), worth 2.1 billion euros ($2.25 billion), in a move to become the Spanish telecom giant’s top shareholder. The
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China’s central state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said.
The U.S. economy may ultimately skirt a recession, but it’s felt like one for months at Jon Ferrando’s 103 RV dealerships. He said retail sales of recreational vehicles are on track to
Canadian auto parts maker Magna International Inc (MG.TO) said on Thursday it would invest $790 million to build three new supplier facilities, two of which will be housed at Ford Motor Co’s
A lack of data on electric vehicle (EV) batteries continues to challenge insurers forced to scrap EVs after mild accidents, potentially undermining the growth of a zero-emission car market. Thatcham Research said
Germanium and gallium are essential ingredients in silicon chips that drive technologies such as 5G, radio frequency, radar signals, and plastics. According to US company Wafer World, the strategic materials are also
Four years after partnering with Apple on the launch of its credit card, Goldman Sachs may be looking to exit its high-profile deal. The investment banking firm is reportedly considering offloading its
Billionaire Elon Musk is set to meet French President Emmanuel Macron in Paris on Friday for the second time in just over a month as France aims to curry favor and attract
Investors who bet against Tesla Inc (TSLA.O) for a while saw it as an excellent opportunity to make substantial mark-to-market profits. Last year, they made a tidy $17 billion betting against the
On September 20th, Amazon workers across the globe staged a walkout in protest of the company’s impact on the environment and its return-to-office mandate. The walkout was inspired by the youth-led climate
