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☆ A fund manager who has beaten 99% of his peers over the last decade breaks down how he finds value investments where others don't, and the 2 sectors he's looking for opportunities in this year
▼ + stars: | 2024-02-03 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Consistently beating the competition over a decade and a half is a sign that Bill Nygren is worth listening to. Instead, he uses good old-fashioned value investing techniques that have proven reliable for decades, even as they've evolved. Nygren added: "It's clearly not a value stock, but when you make those adjustments it sells at less than a market multiple. Advertisement2 sectors to invest in right nowThe average investor would be forgiven for looking around the market right now and struggling to find value. Advertisement"And I think value investors have been a natural home for a lot of the financial industry because the industry's typically traded at something like three-quarters of the S&P multiple," Nygren said.

Persons: Bill Nygren, Nygren, there'd, you've Organizations: Oakmark, Oakmark Fund, Business, Big Tech, Capital, Intercontinental Exchange, American International Group, AIG

☆ Dream of the Desert: Saudi Arabia is launching its own luxury train
▼ + stars: | 2024-01-29 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +7 min

State-owned railway company Saudi Arabia Railways (SAR) recently struck a 200 million Saudi riyals ($53.33 million) deal with Italian hospitality company Arsenale Group to launch the first luxury train in the Middle Eastern kingdom. The destination has made a number of high-profile tourism investments in recent years – a $500 billion model city in the desert of northwest Saudi Arabia among them. Now Saudi Arabia is getting on board with the slow travel movement in a big way by moving into the luxury train market. Arsenale S.P.A./Saudi Arabia RailwaysSaudi Arabia’s decision to enter the luxury train market comes as demand for high-speed trains and luxury “rail cruises” continues to increase around the world. Infrastructure investmentA rendering of Dream of the Desert, which will be the first luxury train in the Middle Eastern kingdom.

Persons: Paolo Barletta, ” Barletta, S.P.A, Joe Biden, Dolce, ”, Luigi Corradi, King, Khalid al, Falih, Arsenale S.P.A, Bashar bin Khaled Al Malik, Al Malik, CNN’s Lilit Marcus, Ben Jones Organizations: CNN, State, Saudi Arabia Railways, Saudi, Arsenale Group, SAR, Saudi Arabia Railways Saudi, Reuters, “ Orient, Accor, Ferrovie dello Stato, Speed Railway, King Abdulaziz International, Saudi Arabia’s Investment, Projects, Saudi Railway Company, Orient Express, Orient Locations: Saudi Arabia, Saudi, Arabia’s, Riyadh, Qurayyat, Jordan, Hail, Italy, France, Italy’s, Mecca, Medina, Jeddah, Venice, London, Kyushu

☆ These new ETFs will help investors target a lucrative part of the corporate bond market
▼ + stars: | 2024-01-25 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

BondBloxx is set to debut three new funds on Thursday: BBB Rated 1-5 Year Corporate Bond ETF (BBBS) , BBB Rated 5-10 Year Corporate Bond ETF (BBBI) and BBB Rated 10+ Year Corporate Bond ETF (BBBL). Bonds rated BBB or an equivalent are considered the last rung of investment grade credit. Tony Kelly, co-founder of BondBloxx, said BBB credit is the "not-so-secret sauce" for active managers trying to beat credit benchmarks. Of course, economic downturns are always a concern for corporate credit. This is not unusual for corporate bond funds since banks and other financial institutions issue a lot of short-term debt, but it does suggest that the funds could have some concentration risk.

Persons: Bonds, Rick Rieder, Tony Kelly, BondBloxx, Kelly, Lauren Goodwin, Goodwin Organizations: BBB, Corporate, New York Life Investments, Reserve Locations: BondBloxx

☆ Jim Cramer: If I were running a hedge fund, I would make these short-term trades on China's bank stimulus
▼ + stars: | 2024-01-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer said Wednesday that China's big monetary policy easing overnight to boost its economy and stock market presents investors with a short-term trading opportunity. This type of monetary policy stimulus is about giving banks more incentives to lend to kickstart the economy. But he said Wednesday that China's monetary policy move to reduce what banks must hold in rainy day funds could be the thing that helps the economy turn the corner. While the Club waits for its China-tied stocks to bounce back, Cramer said during Wednesday's Club meeting that he felt compelled to share the China trades. Club members can watch a replay of January's Monthly Meeting below : (Jim Cramer's Charitable Trust is long EL, SBUX, WYNN.

Persons: CNBC's Jim Cramer, Cramer, Goldman Sachs, It's, Estee Lauder, Jim Cramer's, WYNN Organizations: Baidu, PDD Holdings, CNBC, Club, Goldman, Wynn Resorts, Wednesday's Locations: U.S, China's, China

☆ Bitcoin was up 155% in 2023—but should you invest? Here's what experts say
▼ + stars: | 2024-01-22 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Cryptocurrency investors spent much of 2023 waiting for good news. By the time news broke on Jan. 10 that 11 new bitcoin ETFs would begin trading, crypto investors were taking a victory lap, having bid the coin's price up by 155% in calendar year 2023. "They don't have the ability to put these bitcoin ETFs into client discretionary portfolios, yet," Sigel says. Expect more new crypto ETFs, too — and in different flavors. Experts say these might be as simple as portfolios that combine bitcoin exposure with mainstream investments, such as those in the S&P 500.

Persons: —, Brian Vendig, That's, Matthew Sigel, Sigel, Todd Rosenbluth Organizations: SEC, stoke, MJP Wealth Locations: Westport , Connecticut

He cited relatively affordable homes and a free, clean, high-quality life as two of Texas' draws. Dallas Mayor Eric Johnson told Business Insider at the World Economic Forum in Davos, Switzerland, that two things consistently attract Americans to move to the state. "The housing market in Dallas is very affordable to Californians and New Yorkers," Johnson said. Johnson reminded BI that all housing costs are relative: "When you're talking about 'it's expensive to live in Dallas,' you're comparing Dallas to the Dallas of yesteryear." AdvertisementHe said Dallas residents have benefited from investments in the police department as well as infrastructure including new sidewalks and smooth streets.

Persons: Dallas Mayor Eric Johnson crowed, —, Dallas Mayor Eric Johnson, Johnson, They're, Gen Zers, Pengyu Cheng, Cheng, Dallas, Dallas —, it's Organizations: Dallas Mayor, Service, Economic, Democratic, Republican, Community Survey, University of Minnesota's, Dallas Locations: Texas, Davos, Florida, Switzerland, California, New York . Texas, Dallas, San Francisco, Austin, yesteryear

☆ Jim Cramer says troubles in the Red Sea will hinder the Fed's fight against inflation
▼ + stars: | 2024-01-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday warned that soaring shipping costs due to troubles in the Red Sea won't help the U.S. tamp down inflation, telling investors they shouldn't bank on a lot of rate cuts from the Federal Reserve. "If the last few years have taught us anything, it's that supply disruptions are the bane of the Fed's fight against inflation," he said. In recent weeks, Yemen-based Houthis have attacked ships traveling through the Red Sea, one of the most important global shipping routes. As a result, many major shipping companies are sending their vessels on lengthy and expensive detours, causing freight prices to skyrocket. And with hotter-than-expected figures for December's consumer price index and retail sales, Cramer argued inflation could already be on the rise.

Persons: CNBC's Jim Cramer, freight's, Cramer, they're Organizations: Federal Reserve, FedEx, Canadian, Canadian Pacific Kansas City Locations: Yemen, Canadian Pacific Kansas

☆ These new bond ETFs will let investors target specific parts of the corporate market
▼ + stars: | 2024-01-17 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

A new group of bond funds aims to give investors a way to bet on specific segments of the corporate bond market, potentially creating more control in an interest rate environment that looks to be volatile in 2024. F/m Investments announced Wednesday that it will launch three corporate bond funds targeting certain times to maturity. The new suite of funds starts with three offerings: a 2-Year Investment Grade Corporate Bond ETF (ZTWO), a 3-Year Investment Grade Corporate Bond ETF (ZTRE) and a 10-Year Investment Grade Corporate Bond ETF (ZTEN). Benchmark series, which F/m launched starting in 2022 and gives investors tools to target specific maturities on the Treasury curve. Corporate bond defaults soared 80% in 2023, though most of the damage was done from lower-rated and heavily indebted companies.

Persons: Alexander Morris, Morris Organizations: Investments, Corporate, U.S, U.S . Treasury Locations: U.S

☆ Why Big Tech Is Still Minding Its Bills
▼ + stars: | 2024-01-13 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Google began laying off hundreds of employees this week across several divisions. Photo: Gene Blevins/Zuma PressEven the deepest pockets have their limits. Amazon and Google-parent Alphabet sit on a combined $184 billion in cash and short-term investments. Those two, along with big tech peers Microsoft , Apple and Facebook -parent Meta Platforms, hold the highest such balances among nonbanking companies on the S&P 500, according to data from S&P Global Market Intelligence. Amazon and Alphabet are also currently generating just under $95 billion combined in annual free cash flow.

Persons: Gene Blevins Organizations: Google, Microsoft, Apple, Facebook, P Global Market Intelligence

☆ Opinion: Kamala Harris is not a liability. She may be Democrats’ best weapon
▼ + stars: | 2023-12-27 | by ( Opinion Basil Smikle | ) edition.cnn.com time to read: +10 min

Some within the party have complained that Harris is endangering the odds for victory at the ballot box this year. Happily, the Biden campaign seems to finally be coming around and embracing smart ways to make the best use of Harris’ talents and impressive resume. Her outreach will be particularly important among young voters. Harris’ portfolio of reproductive rights, voting rights and discrimination in education is tailor-made to appeal to this cadre of voters. The 2020 ticket of Biden and Harris stemmed the reclamation and retribution movement of Trumpism.

Persons: Basil A, Smikle Jr, Joe Biden’s, Basil Smikle Frank Gutierrez, Biden, Kamala Harris, Biden’s, Harris, they’ll, I’ve, it’s, Harris ’, Kamala, Jesse Jackson’s, Shirley Chisholm’s, It’s Organizations: Public, Roosevelt, Institute of Hunter College – City University of New, New York, Democratic Party, CNN, Republican, Biden, Los Angeles Times, New York Times, American, White House, Black, Democratic, Howard University, Freedoms, Convention, Republicans Locations: Institute of Hunter College – City University of New York, California, Washington, Siena, Flagstaff , Arizona, Israel

Yes, you can get a mortgage in retirement, even if your only income comes from Social Security retirement benefits or other types of Social Security. How lenders view Social Security incomeMortgage lenders can't deny credit to applicants simply because their income comes from Social Security. Social Security income is viewed the same as any other type of income, with one exception that can work in recipients' favor. Additionally, if you have other sources of income aside from your Social Security income, be sure to include that in your application. Can you get a mortgage with only social security income FAQsCan I get a loan if my only income is Social Security?

Persons: —, you'll, Shashank Shekhar, Shekhar Organizations: Social Security, Service, Social, DTI, Security, Chevron Locations: Chevron

☆ China adds Nio to list of approved vehicle manufactures - website
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

Chinese Nio electric car is seen at Nio's first European plant and power swap station in Biatorbagy, Hungary, September 16, 2022. REUTERS/Bernadett Szabo/File Photo Acquire Licensing RightsSHANGHAI, Dec 4 (Reuters) - Electric vehicle maker Nio (9866.HK) has been added to a Chinese industry ministry database permitting companies to produce vehicles in the country, according to the ministry's website. The website gave no details on whether or when a manufacturing licence was granted to Nio, which has since 2018 partnered with Anhui Jianghuai Automobile Group (JAC) to produce electric vehicles on a contract basis. U.S. luxury EV maker Lucid Group (LCID.O) has also been advised of the low likelihood for approval, sources have told Reuters. The last EV maker to receive both permits was Shandong-headquartered EV maker Sinogold in May 2019.

Persons: Bernadett Szabo, Nio, Cui Zhuzhu, Zhang Yan, Brenda Goh, Emelia Sithole Organizations: REUTERS, Rights, HK, Anhui Jianghuai Automobile, China Securities Journal, Tesla Inc, Reuters, Lucid, Sinogold, China Passenger Car Association, Thomson Locations: Biatorbagy, Hungary, Anhui, JAC's, Shanghai, China, Shandong

As a financial planner, I have clients asking about investing in real estate on a regular basis. Real estate shouldn't be seen as passive income — it takes a lot of work and a lot of risk. But most people who are curious about investing in real estate have a lot of false assumptions and little knowledge or experience. Start Investing in Real Estate without Getting a Mortgage Fundrise is one of the best real estate investing apps for non-accredited investors looking to make long-term investments in real estate. But virtually no real estate investment is truly passive income.

Persons: shouldn't, — Organizations: Service Locations: Real

☆ At 99, billionaire Charlie Munger shared his No. 1 tip for living a long, happy life: 'Avoid crazy at all costs'
▼ + stars: | 2023-12-03 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Charlie Munger, who died at age 99 last week, attributed his success and longevity at least partially to a single piece of advice: "Avoid crazy at all costs." That's what he told CNBC's Becky Quick last month, in an interview meant to air on his 100th birthday in January. When pressed for his keys to a long and successful life, Munger at first demurred, saying "I don't know the secret." Just avoid it, avoid it, avoid it." "My partner Charlie says there is only three ways a smart person can go broke: liquor, ladies and leverage," Buffett told CNBC's "Squawk Box" in 2018.

Persons: Charlie Munger, CNBC's Becky Quick, Munger, Warren Buffett, he'd, Charlie, Buffett, CNBC's, Berkshire Hathaway, —, I've, Coke Organizations: Forbes, Buffett, Berkshire Locations: Berkshire

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ China's Nio teams up with Geely on auto battery swapping
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

The deal makes Geely (GEELY.UL), whose brands range from Volvo to Zeekr, the second automaker to sign a battery swapping partnership with Chinese electric vehicle maker Nio. Battery swapping allows drivers to replace depleted packs quickly with fully charged packs, rather than plugging the vehicle into a charging point. They will look to establish an efficient battery asset management mechanism, build a unified battery swap operation and develop battery swappable vehicles compatible with each other's battery swap systems, the companies added. Battery swapping could ease the strain on power grids at peak times when drivers recharge, but industry analysts and executives expect it would only become feasible if batteries become more standardised. In 2021, Geely said it aimed to set up 5,000 battery swapping stations for EVs globally by 2025.

Persons: Annegret, Nio, Geely, Brenda Goh, Jacqueline Wong, Jamie Freed Organizations: REUTERS, Rights, HK, Zhejiang Geely Holding, Volvo, Changan Automobile, Nio, Beijing, Thomson Locations: Berlin, Germany, Rights BEIJING, Zhejiang, China

BURLINGTON, Vt. (AP) — Vigils for three college students of Palestinian descent who were shot in Vermont over the weekend prompted calls for authorities to recognize the violence as a hate crime, and for unity among the Jewish and Arab communities. One vigil was held Monday night at Brown University in Rhode Island, where one of the victims, Hisham Awartani, is a student. Eaton moved to Burlington over the summer from Syracuse, New York, and legally purchased the gun used in the shooting, Murad told reporters. Eaton came to the door holding his hands, palms up, and told the officers he’d been waiting for them. Sarah George, state’s attorney, said that law enforcement officials do not yet have evidence to support a hate crime charge, which under Vermont law must be proven beyond a reasonable doubt.

Persons: Jason J, Eaton, General Merrick Garland, ”, Hisham Awartani, Christina Paxson, Brown, Robert Leikend, “, Awartani, Kinnan, Tahseen Ali Ahmad, Jon Murad, Abdalhamid, Murad, “ I’ve, I’ve, Rich Price, Awartani's, Rania Ma’ayeh, Ali Ahmad, Ma’ayeh, Abdalhamid’s, Radi Tamimi, we’re, he’d, Mary Reed, Matthew Malinowski, Sarah George, Holly Ramer, Kathy McCormack, Lindsay Whitehurst, David Sharp Organizations: U.S . Department of Justice, Hamas, Brown University, American Jewish Committee, NBC News, West Bank, Police, University of Vermont Medical Center, Ramallah Friends School, Haverford College, Trinity College in, Daily, Syracuse, Associated Press Locations: BURLINGTON, Vt, Vermont, Burlington, Israel, Rhode Island, Robert Leikend , New England, “, Ramallah, Brown, Pennsylvania, Trinity College in Connecticut, Syracuse , New York, U.S, Gaza, Concord , New Hampshire, Washington, Portland , Maine

☆ F/m Investments: Consumers will eventually run out of steam
▼ + stars: | 2023-11-27 | 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 EmailF/m Investments: Consumers will eventually run out of steamAlex Morris, president and CIO of FM Investments, discusses the factors that "will start to tighten some purse strings."

Persons: Alex Morris Organizations: Investments, Consumers, FM Investments

☆ Fund manager reveals one global energy stock to buy right now
▼ + stars: | 2023-11-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Total Energies is one energy stock investors should own right now, according to Brian Arcese, portfolio manager at investment firm Foord Asset Management. Total shares are trading at a significant discount compared to shares of Exxon Mobil, Chevron Shell, and BP on a forward price-to-earnings ratio basis at 6.8x, according to FactSet data. While Total is not among the 10 largest investments in Arcese's fund, Foord Asset Management is an investor in the stock. Arcese told CNBC Pro Talks that around 15-20% of Foord's equity portfolio is allocated to commodity and energy stocks. Scotiabank analysts have a hold-equivalent rating on the U.S.-listed stock with a price target of $68, where the stock is currently trading.

Persons: Brian Arcese, Arcese, it's, We've, Morgan Stanley, Paul Cheng, TotalEnergies Organizations: Foord Asset Management, Fund, Exxon Mobil, Chevron Shell, BP, New, Foord, Management, CNBC, Singapore . Commodities, Equity, UBS, Scotiabank, RBC Capital Markets, RBC Locations: New York, Paris, Singapore, U.S, Foord

☆ Donating to Doctors Without Borders can offer tax advantages and help provide life-saving medical care. Here's how.
▼ + stars: | 2023-11-27 | by ( Sponsor Post | Created Doctors Without Borders | ) www.businessinsider.com time to read: +5 min

With the end of the year fast approaching, we want to spotlight a few alternative ways to support Doctors Without Borders' work that may align with your financial and philanthropic goals. Many alternative gift types offer tax advantages or other financial benefits, and they can serve as long-term investments in Doctors Without Borders' work. Charitable gift annuities: If you're 65 or older and prepared to give $10,000 or more, a charitable gift annuity can provide income for one or two people via fixed payments for their lifetimes. At the end of the contract, any funds leftover will be used to continue Doctors Without Borders' life-saving work. You can learn more about creating a legacy with Doctors Without Borders and request our legacy giving brochure by completing our form.

Persons: Donor, you've Organizations: Democratic, Fund, DAF, Insider Studios Locations: Central America, Haiti, Yemen, Democratic Republic of Congo, Sudan

☆ Los Angeles is defined by its deep-rooted car culture. Could the recent I-10 freeway fire make Angelenos rethink that relationship?
▼ + stars: | 2023-11-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +6 min

Officials encouraged people to switch to public transit to alleviate bad traffic from road closures. For native Angelenos and the millions of visitors who've traveled to the area, Los Angeles car culture is simply a way of life. According to The Los Angeles Times, the Los Angeles County Metropolitan Transportation Authority saw a 10% bump in ridership on the E Line light rail train that runs through downtown Los Angeles on the first two workdays after the incident. While it's too early to know if public transit ridership will be up in November, a reimagined vision of traversing Los Angeles has long been overdue. The transit system simply isn't woven into the fabric of Los Angeles compared to cities like New York and Chicago.

Persons: —, who've, Los Angeles Mayor Karen Bass, it's, Damian Dovarganes Organizations: Service, Los Angeles Mayor, Los Angeles Times, Los, Los Angeles County Metropolitan Transportation Authority, Metro Transit Authority, TAP, California Department of Transportation, Caltrans, Wall Street, LA Transit, AP, LA Metro Rail Locations: LA, Los Angeles, California, Angelenos, Los Angeles County, Santa Monica, Inglewood, Angeles, New York, Chicago, Santa, Southern California

The idea of investing has always terrified me, because I worry that I don't know what I'm doing. The idea of investing my money used to absolutely terrify me. We all have our own reasons, but I know I'm not the only person who's approached the stock market with trembling hands. The average stock market return is about 10% every year. After maxing out my Roth IRA, I started putting money into a brokerage account, specifically investing in index funds.

Persons: —, wasn't, I've, I'd, who's, She's, she's, Get, it's, Roth Organizations: Service, SEC, IRA, Roth IRA

☆ 6 HENRYs detail how they save and invest their 6-figure incomes — and what financial stresses they're preparing for
▼ + stars: | 2023-11-22 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

HENRYs — high earners, not rich yet — are a wide-ranging group often making over $100,000. Business Insider spoke to six HENRYs across the country about how they're saving amid high inflation. There's a wide variety of experiences and views among self-described HENRYs about their financial situations and goals. AdvertisementTo keep savings high, he fixes many monthly expenses — he schedules four haircuts a year, and he goes to the grocery store once a month. "Even the ones that are older and closer to retirement with $1-2 million in retirement savings, they're feeling the pinch as well, so it kind of made me feel better that I'm not alone," Eric said.

Persons: HENRYs, —, Miles Goodloe, HENRY, he's, Goodloe, what's, He's, Robert Oszust Jr, Oszust, we're, Greg, Greg —, he's oversaving, they're, Sherry, She's, she's, Boresta, he'll, I'm, that's, Eric, who's Organizations: Business, Service, HENRYs, Social Security Locations: There's, Connecticut, Washington ,, Ohio

☆ Singapore's Temasek warns that fake agents in China are trying to sell scam investments
▼ + stars: | 2023-11-22 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

An undated photo of a signage at Singapore state investor Temasek Holdings' headquarters in the Southeast Asian city-state. Singapore's Temasek Holdings warned that scammers are allegedly trying to sell financial investment products or instruments to unsuspecting individuals while posing as agents of the firm's office in Shenzhen, China. "We have been alerted to a scam in China that involves the impersonation of Temasek in Shenzhen, using our registered office name 'Temasek Holdings Advisors (Shenzhen) Co., Ltd.' / '淡马锡投资咨询 (深圳) 有限公司'," Temasek said in a statement Wednesday. Temasek does not directly sell any investment products or financial instruments in China. We have not authorized any third party to do so on our behalf," the Singapore investment company added.

Persons: scammers, Temasek Organizations: Temasek Holdings, Singapore's Temasek Holdings, Temasek, Temasek Holdings Advisors, Co, Singapore, Apple, Ikea, Xinhua Locations: Singapore, Shenzhen, China, Beijing, Shanghai, Myanmar

☆ China's Nio, Changan Auto to jointly develop battery-swapping EVs
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of NIO seen on an EL6 car model is pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsSHANGHAI, Nov 21 (Reuters) - Nio (9866.HK) said on Tuesday it would partner with Changan Automobile (000625.SZ) to develop battery-swapping electric vehicles, in an attempt by the loss-making Chinese EV maker to ease costs. The partnership will also see Nio and state-owned Changan on building and sharing battery-swapping stations and standardising batteries, Nio said in a statement to Reuters. Battery swapping allows drivers to replace depleted packs quickly with fully charged packs, rather than plugging the vehicle into a charging point. By Nov. 21, Nio had 2,113 battery swapping stations in China and nearly 1 million charging poles.

Persons: Annegret, Nio, Tesla, Zhang Yan, Brenda Goh, Christopher Cushing, Miral Organizations: REUTERS, Rights, HK, Changan Automobile, Reuters, China Passenger Car Association, Thomson Locations: Berlin, Germany, China, Beijing

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