DIRS.INFO The most relevant business & tech news

☆ What to watch for when Disney reports after the close on Wednesday
▼ + stars: | 2023-11-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Club holding Walt Disney (DIS) reports quarterly results after the closing bell Wednesday. Citi on Wednesday said it expects Club holding TJX Companies (TJX) to deliver a third-quarter beat and guidance raise when it reports on Nov. 15, citing continued momentum at its HomeGoods department store. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Nelson Peltz, TJX, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Club, Microsoft, Treasury, West Texas, Walt Disney, Disney, Hulu, ESPN, Citi, TJX Companies, Jim Cramer's Charitable

☆ Disney CEO Bob Iger: In discussion with 'a number of entities' on ESPN strategic partnership
▼ + stars: | 2023-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney CEO Bob Iger: In discussion with 'a number of entities' on ESPN strategic partnershipDisney CEO Bob Iger joins CNBC's Julia Boorstin to talk Disney's quarterly earnings results, the future of its streaming services, what is next for ESPN and more.

Persons: Bob Iger, Julia Boorstin Organizations: ESPN, Disney

☆ Food-delivery startup Wonder Group gets $100 million investment from Nestle
▼ + stars: | 2023-11-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It's also developed high-tech kitchen equipment to speed up and simplify cooking. Prior to Wonder, Lore founded and sold e-commerce startup Jet.com to Walmart for $3.3 billion in 2016. Food-delivery company Wonder Group has gotten a cash infusion from Nestle , as the startup looks to sell high-tech kitchen equipment and prepared ingredients to businesses such as hotels, hospitals and sports arenas. Some of those companies may also want Wonder's kitchen equipment, Lore said. The partnership will start with Nestle making pizza and pasta tailored for Wonder's kitchen equipment, along with selling the kitchen equipment to clients.

Persons: Bobby Flay, José, It's, Lore, Marc Lore, Melissa Henshaw, that's, Wonder, Andrés, Michael Symon, Uber, DoorDash Organizations: Walmart, Amazon, Nestle, CNBC, Kroger, Foods Locations: New Jersey, New York, New York , New Jersey, Connecticut

☆ Fenway chairman confirms talks with PGA Tour as doubts grow about LIV Golf deal
▼ + stars: | 2023-11-06 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Fenway Sports Group Chairman Tom Werner on Monday acknowledged that the company has held talks with the PGA Tour as the golf organization's framework agreement with Saudi-backed LIV Golf faces new doubts. Werner, who spoke alongside PGA Tour star Rory McIlroy, said that the players "will decide the direction the tour goes." McIlroy had been outspoken in his disdain for LIV Golf, saying in July that if LIV Golf was "the last place to play golf on earth, I would retire." LIV lured PGA Tour players, like Phil Mickelson, to with deals worth hundreds of millions of dollars. McIlroy sounded a friendlier note Monday, when asked about the potential for a renewed rivalry between the PGA Tour and LIV Golf.

Persons: Tom Werner, LIV Golf, we've, Werner, CNBC's Scott Wapner, Rory McIlroy, LIV, Alan Shipnuck, McIlroy, Critics, Prince Muhammad bin Salman, Tiger Woods, LIV Golf's, Phil Mickelson, McIlroy's Organizations: Fenway Sports, PGA Tour, PGA, Boston Red Sox, Liverpool FC, Veteran, Endeavour Group Holdings, WWE, UFC, Saudi Arabia's Public Investment Fund, Saudi, Tiger, Tour, ESPN, TGL, Fenway, Boston, CNBC Locations: Saudi, U.S

☆ King Charles to attend COP28 climate talks in Dubai and deliver address
▼ + stars: | 2023-11-01 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +3 min

London CNN —King Charles III will attend the UN’s COP28 climate summit in Dubai this year and deliver an address at the opening ceremony, Buckingham Palace said Wednesday. CNN understood at the time that, following consultations with the government, it was jointly agreed that the climate summit wasn’t the right occasion for the King’s first trip overseas as sovereign. Few world leaders have confirmed their attendance at the talks. The 74-year-old King will give his address on December 1, and also meet with regional leaders, the palace said. King Charles III has been a passionate advocate of environmental and climate causes for at least five decades.

Persons: London CNN — King Charles III, Buckingham, Liz Truss, Joe Biden, Sheikh Mohamed bin Zayed Al Nahyan, Charles, Charles ’, Prince, Wales, King Charles III, Prince of Wales, King, Donald Trump Organizations: CNN’s Royal, London CNN, CNN, United Arab Emirates, COP28 UAE, Government, Business, UN, Charles ’ Sustainable Markets Initiative, Buckingham, Accord Locations: London, Dubai, British, Egypt, Israel, Gaza, UAE, Glasgow, Scotland, Germany, France, Paris

☆ NBA and NHL broadcasts are coming soon to immersive ‘shared reality’ domes
▼ + stars: | 2023-10-31 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

In this article WBD Follow your favorite stocks CREATE FREE ACCOUNTCosm's shared reality dome concept for viewing live sports broadcasts. Discovery and Cosm, a privately held company that specializes in immersive technology, are about to make "shared reality" a reality for sports fans. The Cosm venues will feature domes with 360 degree, 87 foot diameter 8K LED screens that are similar in concept to James Dolan's Las Vegas Sphere, which debuted in September. Ours is more of a smaller format and really focused on live sports and live programing — like you're absolutely there." Terry's first priority is to use the TNT Sports deal as a template to get more live sports rights into the venues for fans.

Persons: Cosm, James Dolan's, they've, Jeb Terry, Tayfun, Steve Winn, RealPage, Thoma, Terry, He's, Evans & Sutherland, There's, Raphael Poplock, Poplock, it's Organizations: Warner Bros ., Dallas —, TNT, NBA, CNBC, Anadolu Agency, Getty, National Basketball Association, National Hockey, Women's National Soccer Team, Mirasol, Thoma Bravo, National Football League, Tampa Bay Buccaneers, Fox Sports, Evans &, Warner Bros, NHL, HBO, Max, TNT Sports, Turner, Entertainment Locations: Los Angeles, Dallas, Las Vegas

☆ Stellantis is teaming up with Chinese startup Leapmotor on EVs
▼ + stars: | 2023-10-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

The two will form a joint venture that will give Stellantis the exclusive rights to produce, export and sell the Chinese brand’s vehicles outside Greater China. Stellantis will control the joint venture, with a 51% stake, while Leapmotor will take a 49% share. In July, Volkswagen announced it was buying a 5% stake in Chinese EV maker Xpeng and unveiled a strategic partnership to jointly develop new vehicles. News of Stellantis’ latest partnership comes about a year after it terminated its joint venture in China with Guangzhou Automobile Group Company (GAC). Stellantis is acquiring Leapmotor shares at a price of 43.8 Hong Kong dollars ($5.6) apiece, according to a Thursday stock exchange filing by the Chinese firm.

Persons: Hong Kong CNN —, Leapmotor, Mercedes, Nio, Stellantis, weren’t Organizations: Hong Kong CNN, Chrysler, Volkswagen, Xpeng, Reuters, CNN, Nio, Guangzhou Automobile Group Company, Hong Locations: Hong Kong, Leapmotor, Hangzhou, Greater China, Shanghai, China

☆ Japan's Denso to invest $3.3 billion to bulk up chips business
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsTOKYO, Oct 26 (Reuters) - Japanese automotive supplier Denso (6902.T) will invest about 500 billion yen ($3.3 billion) in semiconductors by 2030 as aims to triple the scale of its chips business by 2035 from current levels, the company's president said on Thursday. Thus, we will forge strategic partnerships with various companies," Denso President Shinnosuke Hayashi said at the Japan Mobility Show, which officially opened on Thursday. The company will hire new employees to specialise in electrification and software and also move staff from mature businesses to electrification and software, he said. ($1 = 150.1900 yen)Reporting by Daniel Leussink; Editing by David Dolan, Jamie Freed and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Shinnosuke Hayashi, Daniel Leussink, David Dolan, Jamie Freed, Edwina Gibbs Organizations: REUTERS, Rights, Denso, Toyota, Taiwan Semiconductor Manufacturing, Sony, Japan, Thomson Locations: Japan

BANGKOK (AP) — Stellantis plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer, the companies said late Wednesday. The European-based maker of Jeep and Ram and Leapmotor said in a joint statement that they have formed a strategic partnership and joint venture that aims to expand the Chinese EV maker’s sales both inside and outside of China. Stellantis said it expects to benefit from Leapmotor’s “tech-first EV ecosystem” in China to meet its own targets for shifting to electric vehicles. The companies said the 51% Stellantis-led joint venture will have exclusive rights to export and sell Leapmotor’s vehicles outside China. Leapmotor has focused on the mid- to high-end of the EV market in China, selling 111,000 electric vehicles in 2022.

Persons: —, Leapmotor, Stellantis, BEV Organizations: EV, Hong Kong, Fiat Chrysler Automobiles, French PSA Group Locations: BANGKOK, Leapmotor, China, Hangzhou, Hong, Amsterdam

[1/3] Chinese President Xi Jinping speaks with Colombian President Gustavo Petro during a meeting at the Great Hall of the People in Beijing, China, October 25, 2023. The upgrade of relations with Colombia means China now has strategic ties with 10 out of the 11 South American countries with which it has relations. Paraguay is the last South American nation that has ties with Taiwan, which China claims as part of its territory. In 2022, shipments from Colombia to China totalled $7 billion, up almost 20% from five years earlier. Among the 11 South American countries that have diplomatic ties with Beijing, Colombia has the largest trade deficit with China despite increased Chinese imports.

Persons: Xi Jinping, Gustavo Petro, Ken Ishii, Xi, Petro, Ivan Duque, Liz Lee, Ryan Woo, Ellen Zhang, Bernadette Baum, Robert Birsel, Nick Macfie Organizations: of, People, REUTERS Acquire, Initiative, South American, Tuesday, China Harbour Engineering Company, Bogota Metro, Xian Metro Company, Bombardier Inc, Columbia, China Civil Engineering Construction Corporation, Zijin Mining, Canada's Continental, Thomson Locations: Beijing, China, Colombia, Latin America Colombia, Xi's, Initiative BEIJING, U.S, America, Guyana, South America, Central America, Caribbean, United States, Taiwan, Paraguay, American, Latin America, Bogota, Argentina, Venezuela, Bolivia, Suriname

☆ Hyundai to build Saudi car plant jointly with Saudi wealth fund
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsRIYADH, Oct 22 (Reuters) - South Korea's Hyundai Motor Group (005380.KS) will build a car plant in Saudi Arabia jointly with the Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, South Korea's President Yoon Suk Yeol said on Sunday. Hyundai Motor Group, the world's No. Yoon visited Saudi Arabia where he met with Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler. Yoon traveled with a delegation of business leaders including Hyundai Motor Group Executive Chair E.S.

Persons: Andrew Kelly, Yoon Suk Yeol, Yoon, Saudi Crown Prince Mohammed bin Salman, Chung, Prince Mohammed, Pesha Magid, Heekyong Yang, Aziz El Yaakoubi, John Stonestreet, David Holmes Organizations: Hyundai Motor, New York, REUTERS, Rights, Hyundai Motor Group, Public Investment Fund, South, Hyundai, South Korean, Saudi Crown, Thomson Locations: Manhattan , New York City, U.S, Rights RIYADH, KS, Saudi Arabia, Saudi, Riyadh, Gulf

CANBERRA, Australia (AP) — Australian Prime Minister Anthony Albanese said he will visit China in early November, making the announcement Sunday hours before he was to fly to the United States to meet with President Joe Biden. Albanese will become the first Australian prime minister to visit China in seven years when he travels to Beijing and Shanghai on Nov. 4-7. The visit will come near the 50th anniversary of Labor Party leader Gough Whitlam becoming the first Australian prime minister to visit the People's Republic of China in 1973. Albanese accepted an invitation weeks ago to visit China this year, but finding suitable dates had been challenging. It will be the ninth time Biden has met with Albanese as prime minister.

Persons: Anthony Albanese, Joe Biden, Albanese, “, ” Albanese, Xi Jinping, Li Qiang, Gough Whitlam, Biden, Cheng Lei, “ We’ll, ”, “ I’ve Organizations: Australian, House, U.S, China, Labor Party, World Trade Organization, Biden, Economic Cooperation, Darwin Port, Shandong Landbridge Group Locations: CANBERRA, Australia, China, United States, Beijing, Shanghai, United Kingdom, U.S, Britain, People's Republic of China, Washington, Asia, San Francisco, Tokyo, Japan, India, Darwin

☆ China's Xi tells Vietnam not to forget roots of their friendship
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kham/File Photo Acquire Licensing RightsBEIJING, Oct 20 (Reuters) - Chinese leader Xi Jinping told Vietnam's second-highest ranking official on Friday that both countries must not forget the "original intention" of their traditional friendship. China has traditionally strong ties with Vietnam since diplomatic relations were established in 1950, despite a brief war in 1979. "Faced with the ever-changing international situation and arduous domestic development tasks, the two countries must not forget the original intention of their traditional friendship," Xi told visiting Vietnamese President Vo Van Thuong. "The two sides should adhere to the principle of joint consultation," Xi told Thuong, adding that China and Vietnam should capitalise on their geographical proximity and industrial complementarity. There was no mention of any Xi visit in the Chinese state media readout of their meeting.

Persons: Wang Yi, Pham Binh Minh, Xi Jinping, Vietnam's, Xi, Vo Van, Nguyen Phu Trong, Thuong, Vladimir Putin, Joe Biden, Ryan Woo, Raju Gopalakrishnan Organizations: China's, Government, REUTERS, Rights, Beijing, Communist Party General, Reuters, Thomson Locations: Hanoi, Vietnam, Rights BEIJING, China, United States, Washington, Moscow, Beijing, France, Saigon

☆ China's economic partnership with Russia is so lopsided that Putin needs the help of the US — but he'd never admit that, think tank says
▼ + stars: | 2023-10-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's "no limits" partnership with China is hurting its own economy, one think tank says. The think tank says the relationship is so imbalanced that Russia may need the US's help — though Putin would never admit it. But the think tank argues that much of the partnership has been more to Beijing's benefit than it has been to Moscow. Though China is one of Russia's only reliable trading partners at the moment, the nation has neglected to make major investments in Russia, Graham noted. And Russia's economy now appears to be so dependent on China, that the nation needs the help of the US to counterbalance it, Graham said.

Persons: —, Putin, Thomas Graham, Graham, Xi Jingping Organizations: Service, Foreign Relations, Kremlin, Foreign Affairs, Russia, Administration of Customs, Central Intelligence Agency, US Defense Intelligence Agency, Economic Forum Locations: China, Russia, Beijing, Moscow, York, Ukraine, Asia, India, Western, United States

☆ Russia's Putin visits Kyrgyzstan in first foreign trip since ICC arrest warrant
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +3 min

Neither Kyrgyzstan nor China are members of the ICC, which was established to prosecute war crimes. At a meeting with Kyrgyz President Sadyr Japarov, Putin underscored Russia's importance as the biggest investor in the Kyrgyz economy and said the two sides would further develop cooperation. "Our country is the main supplier of oil products to Kyrgyzstan, we fully supply Kyrgyz consumers with gasoline (petrol) and diesel," Putin told a briefing. Putin cited fast growth in Russian-Kyrgyz trade, which some in the West suspect is partly due to Kyrgyz intermediaries facilitating sanctions-busting by Russian businesses. The United States imposed sanctions on four Kyrgyz companies in July for re-exporting electronics components and other technology to Russia.

Persons: Putin, Vladimir Putin, Russia's, Sadyr Japarov, Japarov, Marlis Myrzakul, Olzhas, Andrew Osborn Organizations: Russian, Criminal Court, ICC, Kremlin, Forum, Commonwealth of Independent States, CIS, Moscow, Thomson Locations: Kyrgyzstan, BISHKEK, Central Asian, Moscow, Ukraine, Russia, Bishkek, Kyrgyz, Central Asia, Russian, China, Beijing, Soviet, Soviet Union, Armenia, United States, Kyrgyzstan's

☆ China wants to be a peace broker in the Middle East. How has it responded to the Israel-Gaza war?
▼ + stars: | 2023-10-11 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Experts say this initial response may expose Beijing’s limited influence in the region, despite official propaganda talking up China as the world’s new peacemaker. Yuval Waks, a senior official at the Israeli Embassy in Beijing, said his country expected a “stronger condemnation” of Hamas from China. State media coverageDespite its claims of neutrality, coverage of the conflict on China’s state-run television appears more slanted. Chinese state media were also quick to blame the US for the conflict now raging in the heart of the Middle East. “China looks at Israel as an opportunity to get points with the broader Arab world and the rest of the developing world.

Persons: Mahmoud Abbas, Xi Jinping, Jonathan Fulton, they’re, Yuval Waks, ” Waks, Chuck Schumer, Xi, “, ” Schumer, Mao Ning, ”, Zhang Jun, Beijing’s, Phil Cunningham, Israel –, Abbas, –, Israel, ” Fulton, Fulton, Benjamin Netanyahu Organizations: CNN, Hamas, Atlantic Council, China’s, Embassy, Reuters, US, Foreign, United Nation, European Union, Global Times, Communist, USS Ford, US Air Force, UN Security Council, Palestinian, Palestinian Authority, West Bank, ”, Israel, Washington, Israeli Locations: China, Beijing, Israel, Iran, Saudi Arabia, Gaza, Palestinian, Palestine, Abu Dhabi, United States, Europe, Asia, Africa, Latin America, State, ”, Russia, Hamas, Ukraine, Xinjiang, Fulton, Haifa, Iraq, Oman –

☆ EU plans anti-subsidy probe into Chinese steelmakers - FT
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File photo Acquire Licensing RightsOct 10 (Reuters) - The European Union is planning to announce anti-subsidy investigations against Chinese steelmakers at a summit with the U.S. this month, the Financial Times reported on Tuesday. Washington had asked Brussels to move against Chinese steel producers in return for avoiding the re-imposition of Trump-era tariffs on EU steel, the newspaper said. In September, Brussels launched an investigation into whether to impose punitive tariffs to protect EU producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies. Additional reporting by Amy Lv in Beijing; Editing by Jacqueline Wong & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Damir Sagolj, Washington, Joe Biden, Ursula von der Leyen, Charles Michel, Nilutpal, Amy Lv, Jacqueline Wong, Simon Cameron, Moore Organizations: Chongqing Iron, REUTERS, European, U.S, Financial Times, Trump, China's Ministry of Commerce, EVs, Thomson Locations: Chongqing, Changshou, China, Brussels, Beijing, Bengaluru

The program, called the U.S. President’s Emergency Plan for AIDS Relief Program, or PEPFAR, started in 2003 by President George W. Bush. Congress missed the Sept. 30 deadline to renew funding for PEPFAR before it expired. The policy had not been included as a part of PEPFAR funding until 2017, when the Trump administration expanded the policy to include it as a part of the program. Advocates for PEPFAR contend the program does not directly or indirectly fund abortion services. For some countries, the health benefits of the PEPFAR program go beyond its mission of reducing the spread of AIDS.

Persons: George W, Joe Biden, PEPFAR, “, ”, Chris Smith, Biden, Ronald Reagan, Trump, Bush, George Ingram, Matthew Miller, ” Miller, reauthorization, Ingram, ” Ingram, Carlos del Rio Organizations: U.S, President’s, AIDS Relief, U.S . State Department, PEPFAR, Congress, House Republicans, Biden Administration, House Global Health, Senate, Senators, Republicans, Center for Sustainable Development, Brookings Institute, Kaiser Family Foundation, Program, Emory University School of Medicine, State, Committee, Infectious Diseases Society of America Locations: U.S, New Jersey, Mexico, Washington, Africa, China, Russia

The Wall Street Journal was first to report Peltz's push for board seats. Disney had rejected Peltz as a possible board member. Disney has undergone a period of transformation, restructuring the company and streamlining operations to make the business more cost effective. In addition, Disney is laying plans to make its flagship ESPN sports network available via streaming at some point in the future. Facing trouble last year, Disney's board brought Iger out of retirement in November for a second turn at running the company.

Persons: Mario Anzuoni, Nelson Peltz, Mickey Mouse, Peltz's, Trian, Bob Iger, Peltz, Iger, Disney, Disney's, Ed Garden, Matthew, Josh Frank, Svea Herbst, Bayliss, Krishna Chandra Eluri, Savio D'Souza, Tomasz Janowski, Leslie Adler Organizations: Walt Disney Studios, Writers Guild of America, REUTERS, Walt Disney, Peltz's Trian Fund Management, Disney, Peltz, ESPN, Svea, Thomson Locations: Burbank , California, U.S, Disney, New York, Rhode Island, Bengaluru

☆ Why China has its eye on Latin America
▼ + stars: | 2023-10-05 | by ( Joumanna Bercetche | ) www.cnbc.com time to read: +3 min

But Venezuela is just one of the many Latin American countries that China is courting. The region presents an attractive investment proposition for China because of its resources and markets, Margaret Myers, director of the Asia and Latin America Program at the U.S.-based think tank Inter-American Dialogue, told CNBC. "In Latin America, China's looking for soy, above all, to address what is a fairly critical food security challenge at home. " Ruben Gonzalez Vicente from the University of Birmingham said: "From 2000 to 2010, most Chinese investment in Latin America went into the extractive industries, into mining and oil in South America mostly. Watch the video to find out why China has its eye on Latin America.

Persons: Xi Jinping, Nicolás Maduro, Margaret Myers, Myers, Ruben Gonzalez Vicente, Roberto Garcia Moritan, It's, it's Organizations: Venezuelan, America, Inter, CNBC, University of Birmingham Locations: China, Venezuela, Latin America, Asia, U.S, America, Brazil, Peru, Chile, Argentina, Latin, South America, Beijing

☆ China rebukes EU after formal launch of EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. China also urged the European Union to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies. The formal launch of the EU investigation came with an announcement in the bloc's official journal, which said China had been invited for consultations, although it did not give a timeframe. Information gathered by the Commission tended to show that producers in China benefited from subsidies to the detriment of EU industry, it added. The European Commission has said China's share of EVs sold in Europe has risen to 8% and could reach 15% in 2025.

Persons: Dado Ruvic, EVs, Chen Aizhu, Philip Blenkinsop, Christian Schmollinger, Clarence Fernandez Organizations: REUTERS, Rights, European Union, European Commission, World Trade Organization, Commission, European, Thomson Locations: Rights SINGAPORE, BRUSSELS, China, Europe

☆ Tunisia Rejects EU Financial Aid, Casting Doubt on an Immigration Deal
▼ + stars: | 2023-10-02 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

By Tarek AmaraTUNIS (Reuters) - Tunisian President Kais Saied on Monday rejected financial support announced by the European Union in September, saying the amount is small and goes against a deal signed three months ago. The European Commission last month said it would disburse 127 million euros ($133 million) in aid to Tunisia as part of the deal to fight illegal immigration from Africa to Europe. “Tunisia rejects what the EU announced, not because of the small amount ... but because the proposal conflicts with the memorandum of understanding signed in July," Saied said. The July deal included a pledge of 1 billion euros in aid to Tunisia to help its battered economy, rescue state finances and deal with the migration crisis. Tunisia last week postponed a visit by a delegation from the European Commission to discuss the details of the migration agreement.

Persons: Tarek Amara TUNIS, Kais Saied, Saied, Tarek Amara Organizations: European Union, European Commission, “, EU Locations: Europe, Tunisia, Africa, “ Tunisia, North Africa, Lampedusa, Germany

☆ Stocks making the biggest moves midday: CarMax, Accenture, Peloton, Jefferies and more
▼ + stars: | 2023-09-28 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

DigitalBridge — Shares of the digital infrastructure company jumped 5.8% after JPMorgan upgraded the company to overweight from neutral. After the market closed Wednesday, Jefferies posted earnings of 22 cents per share on revenue of $1.18 billion. Accenture — Shares of the IT and consulting firm fell nearly 5% Thursday after Accenture reported mixed results for its fiscal fourth quarter. The used-car retailer's fiscal second-quarter earnings and revenue slipped from a year ago on weakening demand for used cars. Concentrix — Shares gained 10% a day after Concentrix said it would hike its quarterly dividend 10% to about 30 cents a share.

Persons: Trimble —, DigitalBridge, Jefferies, Duolingo, Wolfe, Lululemon, CarMax, Concentrix, FactSet, —, Jesse Pound, Christina Cheddar, Berk Organizations: Corporation, JPMorgan, Jefferies, UBS, Resorts, Wolfe Research, Accenture —, Accenture, StreetAccount, Micron, LSEG

☆ Stocks making the biggest moves premarket: Micron, CarMax, GameStop and more
▼ + stars: | 2023-09-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Micron — The chipmaker's shares fell 3.4% Thursday before the bell on the back of a weaker-than-expected earnings forecast. For the fiscal fourth quarter, the company posted a narrower-than-expected loss as well as revenue that topped expectations. CarMax — Shares fell nearly 12% as fiscal second-quarter earnings fell from a year ago on weakening demand for used cars. Peloton — Shares popped nearly 14% in premarket trading Thursday after Peloton and Lululemon announced a five-year strategic partnership on Wednesday. The company's fourth-quarter earnings forecast of $3.03 to $3.15 per share also fell below analysts' forecasts of $3.33 per share, according to FactSet.

Persons: Ryan Cohen, Matthew Furlong, CarMax, Lululemon, DigitalBridge, Concentrix, FactSet, —, Sarah Min, Pia Singh Organizations: Micron, LSEG, GameStop, UBS, JPMorgan

☆ EU trade chief says the outcome of China EV probe cannot be prejudged
▼ + stars: | 2023-09-26 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

About two weeks ago, the European Commission announced an investigation into government subsidies for EV makers in China. watch nowChina's electric car exports have surged in recent months. Homegrown Chinese electric car companies Nio , Xpeng and BYD are among those that have started to expand to Europe, but in relatively small numbers so far. More than two-thirds of China's electric car exports to Europe were from Tesla and other international brands manufacturing in China, according to HSBC. China's Ministry of Commerce was quick to criticize the EU investigation and called it a "blatantly protectionist act" that would distort the global auto industry.

Persons: Dombrovskis, Cui Dongshu, Wan Gang Organizations: BEIJING —, European, European Commission, EV, EU, World Trade Organization, Moody's, HSBC, Volkswagen, VW, China's Ministry of Commerce, China Passenger Car Association, Audi, Wan, Science, Technology, Ministry of Finance Locations: BEIJING, BEIJING — Europe, China, Beijing, Europe

Search resuls for: "Strategic Partnership"

25 mentions found