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Coinbase's big election bet is about to be tested
  + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +9 min
BlackRock's ETF chief Samara Cohen told CNBC that 75% of its bitcoin buyers are crypto investors who are new to Wall Street. Grewal told CNBC that he's had "many conversations" behind closed doors with both the Trump camp as well as Democratic Vice President Kamala Harris' campaign. Fairshake, one of the top spending PACs this cycle, told CNBC it's raised around $170 million this election and disbursed approximately $135 million. Ripple's head of U.S. public policy, Lauren Belive, told CNBC at a fintech conference in Las Vegas that the company was motivated by the SEC's overreach. WATCH: Bitcoin slumps to $67,000 level on eve of U.S. election: CNBC Crypto World
Persons: WASHINGTON —, Brian Armstrong shied, Armstrong, Coinbase, Gary Gensler, vociferously, Samara Cohen, Wells, Paul Grewal, Donald Trump, David Sacks, Grewal, Trump, he's, Gensler, Kamala Harris, Harris, Sen, Sherrod Brown, Bernie Moreno, Brown, Moreno, battlegrounds, It's, Shirzad, CNBC it's, Lauren, Alice, merch, Joe Lubin, Wiley Nickel Organizations: WASHINGTON, Capitol, CNBC, SEC, Washington, Trump, Republican, Democratic, Crypto Alliance, House, Ohio Senate, Crypto, Labs Locations: Washington ,, Washington, United States, San Francisco, Nashville, Ohio, Las Vegas
"It was for the ETF wrapper," she told CNBC on stage at the Permissionless Conference in Utah. The total market cap of all eleven spot bitcoin ETFs now tops $63 billion, with total flows of nearly $20 billion. Of the 80% of direct investors, Cohen told CNBC that 75% had never before owned an iShare, one of the best-known and largest ETF providers on the planet. "As it turns out, we have done a lot of education of crypto investors on the benefits of the ETP wrapper." Before the U.S. Securities and Exchange Commission green-lit spot bitcoin funds in January, investors had a few ways to buy and custody cryptocurrencies.
Persons: Samara Cohen, Cohen, Bitcoin, Coinbase, bitcoin ETPs Organizations: BlackRock, CNBC, Permissionless Conference, U.S . Securities, Exchange Commission Locations: U.S, Utah, Wall
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKamala Harris backs crypto regulatory framework in pitch to Black men: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, CNBC's MacKenzie Sigalos speaks to Samara Cohen, chief investment officer of ETFs and Index Investments at BlackRock at Permissionless to discuss adoption of bitcoin ETFs.
Persons: Kamala Harris, explainers, CNBC's MacKenzie Sigalos, Samara Cohen Organizations: CNBC Crypto, CNBC, Investments, BlackRock Locations: Permissionless
Which Battleground State Voters Could Sway the Election? It says that in order for Democrats to win, Black voters must make up 30 percent of all voters and at least 30 percent of white voters must vote Democratic. Black voters, who cast nearly a third of the ballots in 2020, overwhelmingly favored Mr. Biden — by almost 90 percent. That’s because educational attainment divides mostly white voters, and many of Nevada’s less-educated voters are not white. Even so, that wasn’t enough for him to overcome the coalition of white voters with a college degree and voters of color who delivered Mr. Biden a victory.
Persons: they’ve, Biden, Biden’s, Donald J, Trump, , Mark Kelly, , Samara Klara, Charles S, Bullock, Kamala Harris, Andra Gillespie, , “ There’s, Matt Grossmann, David Damore, suburbanites, Chris Cooper, Trump’s, Charles Franklin Organizations: Hispanic, The New York Times, White Hispanic, Democratic Senate, Mr, Biden, University of Arizona ., White, University of Georgia, Democratic, Black, Georgia, Emory University . Georgia, Suburban, Arab American, Michigan, , Michigan State University, Israel, Democratic Party, University of Nevada, Rural, Voters, North, Western Carolina University, Wisconsin, University of Wisconsin ., Marquette Law Locations: The, Arizona, U.S, University of Arizona . Georgia, Georgia, Michigan, Detroit, American, Gaza, Nevada, Las Vegas, , Carolina, North Carolina, Greensboro, Asheville, Trump, ” Pennsylvania, Pennsylvania, Pittsburgh, Pennsylvania’s, Philadelphia, Wisconsin, Milwaukee, Madison, University of Wisconsin . Wisconsin, Dane County
Yen nurses losses as BOJ meets, dollar dogged by rate outlook
  + stars: | 2024-09-20 | by ( ) www.cnbc.com   time to read: +3 min
Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."
Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England
Ether ETFs officially begin trading in the U.S.
  + stars: | 2024-07-23 | 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 EmailEther ETFs officially begin trading in the U.S.Samara Cohen, BlackRock ETF & Index Investments CIO, joins 'Squawk on the Street' to discuss whether the current ETFs are tracking Ether, any sense of the size of interest this new product can attract, and if this product will attract customers who are curious about Ether.
Persons: Samara Cohen Organizations: BlackRock, Index Locations: U.S
The long-awaited bitcoin exchange traded funds launched in January, and financial advisors are on their way – though gradually – toward adopting them, according to BlackRock's Samara Cohen. The iShares Bitcoin Trust (IBIT) was among the funds to debut earlier this year. Responses ranged from bitcoin's notorious price volatility to the flagship cryptocurrency being too nascent to have established a significant track record. "I would call them wary … that's their job," Cohen said of the skeptical financial advisors. "This is an asset class that has had 90% price volatility at times in history, and their job is really to construct portfolios and do the risk analysis and due diligence.
Persons: BlackRock's Samara Cohen, Cohen, Organizations: Crypto, CNBC, Council Locations: Coinbase State, New York City
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk, who famously vowed to "own no house" in 2020 and claimed in 2022 that he was effectively homeless and couch surfing at his friend's properties, reportedly discussed buying a tiny house from one of Tesla's board directors, per Reuters. This story is available exclusively to Business Insider subscribers. A Samara backyard one-bedroom prefabricated house starts at $284,000. Elon Musk, Tesla, and Samara did not immediately respond to a request for comment made outside normal working hours.
Persons: , Elon Musk, Joe Gebbia, Gebbia, Samara, Grimes, Musk Organizations: Service, Reuters, Business, SpaceX Locations: Samara, Delaware, Austin, Airbnb, Mexico
Oil prices rise as Ukraine strikes Russian refineries
  + stars: | 2024-03-25 | by ( Spencer Kimball | ) www.cnbc.com   time to read: 1 min
Smoke billows after Ukraine's SBU drone strikes a refinery, amid Russia's attack on Ukraine, in Ryazan, Ryazan Region, Russia, in this screen grab from a video obtained by Reuters, March 13, 2024. Crude oil futures rose Monday as Ukraine drone strikes disrupt Russian oil refining capacity. The West Texas Intermediate contract for April gained 38 cents, or 0.47%, to $81.01 a barrel. A Ukrainian drone strike caused a fire at the Kuibyshev oil refinery in the city of Samara over the weekend. Industry sources told Reuters that one of the major refining units at the facility was knocked out after the attack.
Persons: Brent Organizations: Reuters, West Texas Intermediate Locations: Ukraine, Ryazan, Ryazan Region, Russia, Ukrainian, Samara
Read previewUkraine attacked Russia's oil infrastructure after US officials advised them against targeting Russian oil refineries, Bloomberg reports. Russia's oil infrastructure took another hit as drones targeted refineries in the Samara region. The targeted refineries, both part of Rosneft PJSC's Samara region group, play a crucial role in Russia's oil production landscape. The strikes have targeted refineries, storage depots, and other key sites, exacerbating economic pain and raising fears of further escalation. Indeed, the refineries targeted in the Samara oblast last night are over 800 miles from Kyiv.
Persons: , Dmitry Azarov, Organizations: Service, Bloomberg, Business, US, Financial Times Locations: Ukraine, Samara, Russia, Rosneft, Russian
Ukraine attacked another Russian oil refinery on Saturday night. AdvertisementA long week of attacks on oil and gas infrastructureThis past week, Ukraine has made a concerted effort to degrade Russia's oil production capabilities. The governor of Russia's Samara Oblast reported on March 16 that Ukrainian drones had attacked two Rosneft oil refineries. One attack had hit another major oil refinery operated by Lukoil in the southwestern Volgograd region. Similar incidents had occurred across Russia in January, hitting the Slavneft-Yanos oil refinery, an oil refinery in Tuapse, a storage facility in Klintsy, and a Baltic sea Ust-Luga terminal.
Persons: , Ukrainska, Russia's, Andriy Yermak, Volodymyr Zelenskyy, Zelensky, Краснодарському кра РосВдео Organizations: Bloomberg, Service, Business, Astra, Ukrainska Pravda, Security Services, Security Service, Stringer, Anadolu Agency, Getty, Reuters, Staff, Lukoil, НПЗ Locations: Ukraine, Russian, Krasnodar, Moscow, Russia, Russia's Samara Oblast, Ryazan, Nizhny Novgorod, Leningrad, Lukoil's Norsi, Russia's Belgorod, Norsi, Ukrainian, Volgograd, Tuapse, Klintsy, Baltic
Samara, cofounded by Airbnb's Joe Gebbia, is selling modular accessory dwelling units. See inside its most expensive unit, a $324,000 two-bedroom tiny home. AdvertisementA new startup wants to drop tiny homes into your backyard. If the name doesn't ring a bell, you might recognize one of its cofounders, Joe Gebbia. Quite the opposite: It's manufacturing factory-built accessory dwelling units (ADUs), or tiny homes, that can be dropped into Californians' backyards.
Persons: Airbnb's Joe Gebbia, , Oz, Ariana Grande, Ethan Slater, Joe Gebbia, Brian Chesky Organizations: Service, Airbnb Locations: Samara, Mexico, It's California
There's a misconception that only mothers suffer from empty nest syndrome, but I learned dads get the leaving-for-college blues, too. AdvertisementBut when they both head off to college over the next two years, I will struggle with loneliness in their absence. AdvertisementI'd even considered moving close to my daughter’s campusWhen most down and lonely, I thought about moving close to Milaan’s campus. AdvertisementNow, with my mother elderly and widowed, I've spent more time with her than I have in years. "I'd love to spend time with you in England during the summer," Milaan enthused when I mentioned my plans.
Persons: , Milaan, she'd, I'd, I’m, That’s, they're, Sumeeta, , haven't, they'd, I've, You've Organizations: Service, Business, Pew Research Center, Heathrow Airport Locations: Samara, England, Indian, Milaan’s, America, New York
7 Grammy Winners Worth Another Spin
  + stars: | 2024-02-06 | by ( Lindsay Zoladz | ) www.nytimes.com   time to read: +1 min
Dear listeners,I can hardly believe I’m saying this, but this year’s Grammys were … really good? Tracy Chapman, radiating joy and in fine voice, sang “Fast Car” publicly for the first time in ages, alongside a visibly reverent Luke Combs. For today’s playlist, we’re going to hear from some more of those slightly-less-than-household-name artists who took home Grammys this year. I chose two selections of my own, and I also asked my fellow Times pop critics Jon Pareles and Jon Caramanica to send me a few of their picks — a mix of jazz, folk, pop, gospel and more. Listen below to tracks from Laufey, Peso Pluma and Samara Joy, and check out the Bonus Tracks for more of our Grammy coverage.
Persons: Tracy Chapman, Luke Combs, Joni Mitchell, Billie Eilish, Finneas, Taylor Swift, she’s, Phoebe Bridgers, Karol G, Lainey Wilson, Victoria Monét, Jon Pareles, Jon Caramanica, Samara Joy Organizations: SZA Locations: Laufey, Samara
How to watch the 2024 Grammy Awards
  + stars: | 2024-02-04 | by ( Marianne Garvey | ) edition.cnn.com   time to read: +4 min
At Sunday’s 66th annual Grammy Awards, nominees SZA and Taylor Swift are poised for significant wins, while the stage is set for some legendary performances. The hostHost Trevor Noah at the Grammy Awards in 2023. I’m really, really, really not even saying this just to be humble or anything. The nomineesSZA, performing here in 2022, leads this year's Grammy nominees. If her “Midnights” wins album of the year, she will become the first artist to win the category four times.
Persons: CNN —, Taylor Swift, Tracy Chapman, Luke Combs, Joni Mitchell, Trevor Noah, Kevin Winter, Noah, He’s, Dave Chappelle, Wanda Sykes, Chris Rock, Sarah Silverman, “ I’m, ” Noah, I’m, Jemal Countess, SZA, Lauryn Hill ”, Midnights ”, Olivia Rodrigo, boygenius, Jon Batiste, Miley Cyrus, Billie Eilish, Victoria Monét, Joe Okpako, Meryl Streep, Lenny Kravitz, Christina Aguilera, Lionel Richie, Mark Ronson, Samara Joy, Taylor Tomlinson, Oprah Winfrey, Cindy Ord, MG23, Travis Scott, Burna, Billy Joel, John Locher Organizations: CNN, Hollywood, North, CBS, Paramount, Showtime Locations: Maluma, Samara, North America, Dua Lipa
Singer-songwriter Victoria Monét won best new artist at the 66th annual Grammy Awards. Monét, 34, won the category against Gracie Abrams, Fred Again.., Noah Kahan, Ice Spice, Jelly Roll, Coco Jones and The War and Treaty. And I feel like today, I’m sprouting.”Photos You Should See View All 45 ImagesThe best new artist award, which went to jazz artist Samara Joy last year, is one of the Grammys’ most-anticipated as it is often seen as a bellwether for future success. The award goes to an artist who releases, during that year’s eligibility period, the first recording that establishes their “public identity,” according to the Grammys. With seven nominations, Monét tied for the second-most this year, alongside Phoebe Bridgers and behind SZA.
Persons: Singer, Victoria Monét, Gracie Abrams, Fred Again, Noah Kahan, Roll, Coco Jones, , Monét, ” “, , Samara Joy, Olivia Rodrigo, Megan Thee, Billie Eilish, Mariah Carey, Alicia Keys, John Legend, Amy Winehouse, Adele, Chance, Ariana Grande, Chloe x Halle, Phoebe Bridgers, Hazel, , Ariana Grande’s, Mark Kennedy Organizations: Associated Press, The Associated Press, Hollywood, AP, Black Music, Coalition, Kanye Locations: Champagne, Dua Lipa
LOS ANGELES (AP) — Women lead the major categories at the Grammys this year – names like SZA, Taylor Swift, Victoria Monét, Phoebe Bridgers, Olivia Rodrigo and Brandy Clark top the list. If Taylor Swift wins for “Midnights,” she will become the first artist in Grammy history to win the top prize four times. (And, conversely, artists it loves to nominate but not award: both Lana Del Rey and Miley Cyrus have yet to receive a Grammy. I'd love to see a Cyrus win, but I’ve been burned before! She’s tied with the likes of Taylor Swift and Miley Cyrus with six nominations, and I think it is her time to finally take home a trophy.
Persons: Taylor Swift, Victoria Monét, Phoebe Bridgers, Olivia Rodrigo, Brandy Clark, Maria Sherman, Jonathan Landrum Jr, ” Jon Batiste, , ” Miley Cyrus, Lana Del Rey, ” Janelle Monáe, , ” Taylor Swift, I’m, Swift’s, Jon Batiste —, Swift, Billie Eilish, Lady Gaga, Justin Bieber, it’s, Batiste, Victoria, ” Olivia Rodrigo, Victoria Monét’s, Monét, I'm, Jack Antonoff, Sam Dew, ” Jack Antonoff, Dan Wilson, ” Caroline Ailin, Mark Ronson, Andrew Wyatt, Gregory Aldae Hein, Michael Pollack, ” Rob Bisel, Carter Lang, Solána Rowe, ” Daniel Nigro, Billie Eilish O’Connell, Finneas O’Connell SHERMAN, Jon Batiste, Miley Cyrus, Barbie ”, ” isn’t, Gracie Abrams, Fred, Coco Jones, Noah Kahan, Samara Joy, there’s, Mama, It’s, SHERMAN, ” Taylor Swift SHERMAN, Rodrigo, Cyrus, Keem, Kendrick Lamar, Rich, ” Drake, Eryn Allen Kane, Baby Keem, Drake, Mike ’, Andre, Future’s hoarse, Kane’s, Mike, , ” It's, Flash’s, ” Tyler Childers, Luke Combs, Dolly Parton, ” Chris Stapleton SHERMAN, she’s, Doc Watson, She’s, Luke Comb’s, Tracy Chapman, Parton, Combs, Chris Brown, ” Robert Glasper, Alex Isley, ” Coco Jones, There’s, Jones, Justin Timberlake, Bill ”, I’d, ” Ana Bárbara, Lila Downs, ” Flor De Toloache, “ Amor, ” Lupita Infante, America –, Flor de Toloache, Lupita Infante, Pedro Infante, LANDRUM, He’ll, Ana Bárbara, Vincente Hernandez Organizations: ANGELES, Press, Entertainment, SHERMAN, , Recording Academy, Eilish, The Recording Academy, Rockstar, Dallas Cowboys, Washington Commanders, Stapleton, BEST, ICU, De, Regional, Christian, CBS, Paramount Locations: Victoria, Dua Lipa, America, American
Russian students are being asked to turn in their vapes, per a report. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStudents at a Russian university are asking their peers to donate their vapes to help the Russian military, a report said. Their components can be repurposed to make drones for Russia's invasion of Ukraine, according to Russian publication Novaya Gazeta Europe.
Persons: Organizations: Service, Novaya Gazeta Europe, Russia's University of, university's Military Department, Kyiv Post Locations: Russia, Ukraine, Russia's, Russia's University of Samara, Russian, Soviet, USSR, Ukrainian, Kyiv
The nominations for the 2024 Grammy Awards will arrive Friday. Nominees will be announced during a video stream live on the Grammy website and the Recording Academy’s YouTube channel at 8 a.m. Pacific/11 a.m. Eastern. Period.”He continued: “What’s not going to happen is we are not going to give a Grammy or Grammy nomination to the AI portion.”There are also three new categories: best pop dance recording, best African music performance and best alternative jazz album. Previously, the general categories were made up solely of the “Big Four” awards: best new artist, as well as album, record, and song of the year. The 2024 Grammy Awards will air Feb. 4 live on CBS and Paramount+ from the Crypto.com Arena in Los Angeles.
Persons: — Buckle, Al ” Yankovic, Jimmy Jam, Jon Bon Jovi, Kim Petras, Samara Joy, Muni, Drake, Savage, , Michelle Williams, Britney Spears, , Harvey Mason, “ What’s Organizations: ANGELES, Recording Academy, Associated Press, CBS, Paramount, Crypto.com Locations: Pacific, Los Angeles
For nearly two decades, one New York photographer, who goes by the artist name Seymour Licht, has documented spectral, peculiar and outlandish parade- and partygoers in transit across the city. Now, Licht, has put together a book called “Halloween Underground,” timed to the 50th anniversary of the Village Halloween Parade. Twenty years on, Licht ultimately views the work as a “fantastical ride” through the underbelly of the city. Seymour LichtA couple at Lorimer Street taking inspiration from Ancient Egypt. Seymour Licht
Persons: Seymour Licht, Rene Magritte, , ” Licht, Licht, , — Licht, Pennywise, Michael Myers, Wes Anderson, Fox ”, lurks, Fox, Magritte, Lorimer, Seymour Organizations: CNN, Union, Fuji Locations: York, Samara, , Manhattan, Bedford, Brooklyn, Egypt
Russia faces domestic fuel crunch, braces for more shortages
  + stars: | 2023-08-31 | by ( ) www.reuters.com   time to read: +4 min
Traders said that the fuel market has been hit by a combination of different factors including maintenance at oil refineries, infrastructure bottlenecks on railways and the weaker rouble which incentivises fuel exports. Russian Deputy Prime Minister Alexander Novak said on Wednesday that there were no fuel shortages. FUEL CRUNCHTraders said the shortages on the retail market followed by a sharp rise of wholesales prices. The state caps the retail prices, ordering the sellers to raise prices of gasoline and diesel only in line with official inflation. For the past two months commodity exchange diesel prices jumped on average by more than a quarter to 67,000 roubles ($700) per ton.
Persons: Alexander Natruskin, Alexander Novak, Andrei Neduzhko, Vladimir Soldatkin, Guy Faulconbridge, David Evans Organizations: REUTERS, Reuters, Traders, Kremlin, CRUNCH Traders, Industry, Wholesale, Russian Railways, Thomson Locations: Moscow, MOSCOW, Russia, Russia's, Krasnodar region, Adygea, Astrakhan, Samara, Russian, Rostov, Krasnodar, Stavropol
[1/7] View of a damaged building near the site of the blast in the center of Taganrog, Russia July 28, 2023. Telegram channel of Vasily Golubev, Governor of the Rostov region/Handout via REUTERSJuly 28 (Reuters) - The Russian military said on Friday it had shot down a Ukrainian missile over the southern Russian city of Taganrog and that fragments of the missile had injured civilians and damaged buildings. There was no immediate reaction from Ukraine, which rarely comments on attacks inside Russia or on Russian-controlled territory. Separately, an explosion was reported to have hit an oil refinery in the Russian city of Samara. Member of parliament Alexander Khinshtein said the explosion at the refinery owned by Rosneft (ROSN.MM) appeared to have been caused by a bomb.
Persons: Vasily Golubev, Alexander Khinshtein, Felix Light, Mark Trevelyan, Andrew Osborn Organizations: REUTERS, Rosneft, TASS, Energy, Thomson Locations: Taganrog, Russia, Rostov, Russian, Ukrainian, Ukraine, Russia's Rostov, Samara
CNN —Russia said it shot down a Ukrainian missile over the southern Russian city of Taganrog and that fragments from the blast injured several civilians. Vasily Golubev also said on Friday in a Telegram post that there was a rocket explosion in the middle of the city. The Russian Ministry of Health later said 14 people had been injured. Russian air defense systems intercepted the missile, fragments of which fell on the city and damaged buildings, the defense ministry said. There were no victims or severe damage reported at the site, Khinshtein said.
Persons: It’s, Ukraine —, Vasily Golubev, , Maria Zakharova, , ” Zakharova, Alexander Khinshtein, Khinshtein Organizations: CNN, Russian Ministry of Defense, Regional Gov, Russian Ministry of Health, Russian Foreign Ministry, Foreign Ministry, Duma Locations: Russia, Ukrainian, Russian, Taganrog, Ukraine, Rostov Region, Rostov, Moscow, Kiev, Samara
Airbnb cofounder Joe Gebbia sold over $1 billion in Airbnb Class A shares this year. The stock soared 70% this year, upping Gebbia's net worth to nearly $9 billion. Airbnb cofounder Joe Gebbia is on a roll his year as share prices of the home-sharing platform surge post-pandemic. He has sold nearly $1.4 billion worth of Airbnb stock so far, per Bloomberg. On Tuesday, the Nasdaq-listed Airbnb shares closed 0.8% higher at $146.53 apiece.
Persons: Joe Gebbia, Gebbia, Gebbia —, , Brian Chesky, Nathan Blecharczyk, Airbnb Organizations: Airbnb, 251st, Bloomberg, Tesla, Nasdaq Locations: Airbnb, Samara
Russia takes over another Western asset with Bosch plant deal
  + stars: | 2023-06-14 | by ( ) www.reuters.com   time to read: +1 min
NAMI, Russia's Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that left Russia over its invasion of Ukraine. NAMI has already taken over plants that were previously run by carmakers Renault (RENA.PA), Nissan (7201.T) and Toyota (7203.T). The price of the transaction was not disclosed, but NAMI has picked up other assets for nominal fees. "Previously the company was engaged in the production of steering systems, anti-lock braking systems and electronic stability programme systems," NAMI said in a statement. Reporting by Alexander Marrow and Gleb Stolyarov Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: NAMI, Robert Bosch, carmakers, Alexander Marrow, Gleb Stolyarov, Mark Potter Organizations: Central Automobile, Research, Development Institute, carmakers Renault, Nissan, Toyota, Thomson Locations: Russia, Ukraine, Samara
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