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☆ Porsche's iconic 911 to be sole survivor of automaker's combustion models
▼ + stars: | 2023-07-26 | by ( Nick Carey | ) www.reuters.com time to read: +3 min

[1/3] FILE PHOTO-A Porsche 911 Carrera S is on display during the 75 years Porsche sports car exhibition "Driven by Dreams" in Berlin, Germany, January 25, 2023. The automaker will electrify its compact SUV Macan, followed by the 718 sports car and then the best-selling Cayenne, Porsche e-fuels team leader Karl Dums said. Porsche's EV plans and e-fuels investment are separate, he said. Major automakers will likely avoid new e-fuel models after 2035, having already committed $1.2 trillion to electrification. A host of smaller carmakers also want to sell luxury, high-performance e-fuel models to customers rich enough to afford the expensive fuel, which today can cost up to 10 pounds ($12.90) per liter.

Persons: Lisi Niesner, Karl Dums, Dums, Morgan, Massimo Fumarola, Fumarola, Mike Flewitt, Nick Carey, Paul Lienert, Victoria Waldersee, Giulio Piovaccari, Matthew Lewis Organizations: Carrera, Porsche, REUTERS, EU, HIF Global, Automotive, Ferrari, Morgan Motor, Briggs Automotive Company, Victoria, Thomson Locations: Berlin, Germany, Malvern , England, U.S, Liverpool, EVs, London, Detroit, Milan

☆ Premarket stocks: Markets and consumers are in an upbeat mood. Here's why
▼ + stars: | 2023-07-21 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Stocks and consumer sentiment are rising in tandem after slumping last year, in another sign of growing optimism that the economy could dodge a recession. Consumer sentiment tracked by the University of Michigan jumped 13% in July, notching its second consecutive month of improvement. That comes after stocks and consumer sentiment tumbled in 2022 as sticky inflation and the Federal Reserve’s aggressive pace of interest rate hikes spurred fears that the US economy would tip into a recession. “Consumer sentiment reached levels consistent with the lows of some past recessions last summer,” wrote Lori Calvasina, head of US equity strategy at RBC Capital Markets. Still, consumer sentiment could decline if more people lose their jobs, paychecks and spending power.

Persons: CNN —, ”, Lori Calvasina, Ed Moya, Moya, Jon Ekoniak, Pete Muntean, Vanessa Yurkevich, Robert Travis, “, ” Read, Michelle Toh, Kan, Read Organizations: CNN Business, Bell, CNN, University of Michigan, RBC Capital Markets, OANDA, JPMorgan Chase, Citigroup, Bordeaux Wealth Advisors, UPS, Teamsters, United Parcel Service, Independent Pilots Association, Brotherhood of Teamsters, South, Starbucks Asia Locations: That’s, BlackRock, Wells Fargo, South Korean, Hong Kong, Indonesia, South Korea, Philippines

☆ Asia's private credit markets thrive as desperate borrowers find lenders
▼ + stars: | 2023-07-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Private lenders, meanwhile, had "significant liquidity" to deploy for such financings, proving to be a right fit. Besides property developers, borrowers thronging private markets include privately-held companies and start-ups whose private equity issuance has been stymied by broader stock market swings and the deepening discounts of their valuations, known as a 'down round' in the industry. Investment firm Muzinich & Co. recently announced it had closed a $500 million Asia Pacific private debt strategy. Australian superannuation fund UniSuper, which runs a $15 billion private markets portfolio investing in unlisted infrastructure and private equity, is looking to grow its portfolio. "Just given the pipeline of opportunities, we could see ourselves potentially ... (doing) another $3 to $5 billion," said Sandra Lee, UniSuper's head of private markets.

Persons: Bryan Clark, Andrew Tan, Tan, Sandra Lee, UniSuper's, Shane Forster, Benno Klingenberg, Timm, Rae Wee, Georgina Lee, Vidya Ranganathan, Kim Coghill Organizations: Star, JLL, Western, Muzinich, Asia Pacific, Muzinich's Asia Pacific, ICE, Bain Capital, India's, Mahindra Bank, Hong Kong's ADM, BlackRock, Data, Barclays, UBS, Thomson Locations: SINGAPORE, Arizona, Asia, Hong Kong, Singapore

[1/5] A Domino's staff member stands next to a sign for a 49-rupee pizza at a restaurant in Noida, India, July 4, 2023. A: With the world's cheapest Domino's pizza. "You are coming to the store or open the app, because there is a 49-rupee callout," he said, adding that Domino's global team supported the plans. Domino's global HQ referred queries about India to its local franchisee. When Khetarpal visited Domino's stores in Chennai and other cities, he said he saw customers emptying out their pockets and only being able to scrape together 49 rupees.

Persons: Adnan Abidi, Sameer Khetarpal, Khetarpal, Merrill Pereyra, They'll, Akshay Jatia, Westlife, It's, Devanshu Bansal, Kiran Raj, Praveen Paramasivam, Aditya Kalra, Saurabh Sharma, Jatindra, Brenda Goh, Hilary Russ, Abhirup Roy, Miyoung Kim, Pravin Organizations: REUTERS, U.S, India, Sapphire Foods, Domino's, Burger King's, Restaurant Brands, Euromonitor, Yum Brands, Global Financial Services, Pravin Char, Thomson Locations: Noida, India, CHENNAI, DELHI, America, Shanghai, San Francisco, Burger, zeroing, Pizza, New Delhi, Chennai, Burger King's India, United States, U.S, Lucknow, Bhubaneswar, New York, Singapore

Inflation is falling, with the headline consumer price index (CPI) measure slowing to 3.0% in June from 4.0% in May. The current debate is whether more rate increases might be needed to ensure "disinflation" continues or if doing more could cause unnecessary damage to the economy. Core PCE was last reported at 3.8% for May. But none of the inflation gauges polled by Reuters - CPI, core CPI, PCE and core PCE - were expected to reach 2% until 2025 at the earliest. A slight majority of economists who answered an additional question, 14 of 23, said wage inflation would be the most sticky component of core inflation.

Persons: Jerome Powell, Jan Nevruzi, Doug Porter, Indradip Ghosh, Prerana Bhat, Maneesh Kumar, Ross Finley, Paul Simao Organizations: U.S . Federal Reserve, Reuters, Fed, NatWest Markets, PCE, CPI, BMO Capital Markets, Thomson Locations: BENGALURU, U.S

☆ UK's Domino's Pizza Group names new CEO
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Domino's Pizza Group (DOM.L) said on Thursday Andrew Rennie, who has served as the Europe chief for a major franchise operator of the pizza chain, will join the UK firm in August as its chief executive. Rennie will take over from Elias Diaz Sese, who has been serving as Domino's Pizza Group's (DPG) interim CEO since October 2022. The group owns, operates and franchises Domino's stores in the UK and Ireland. Rennie has held several roles at Domino's Pizza Enterprises in over two decades, including being CEO of its European business from 2014 to 2020. The Sydney-listed company holds exclusive master franchise rights for the Domino's brand across 12 markets including Australia, New Zealand, Belgium, France, The Netherlands, Germany and Luxembourg.

Persons: Andrew Rennie, Rennie, Elias Diaz Sese, Sese, DPG, Chandini, Nivedita Organizations: Ireland, Pizza Enterprises, Thomson Locations: Europe, Sydney, Australia, New Zealand, Belgium, France, The Netherlands, Germany, Luxembourg, Bengaluru

After a five-month pause, the BoC raised its overnight rate in June, saying monetary policy was not sufficiently restrictive. "If new information suggests we need to do more, we are prepared to increase our policy rate further," BoC Governor Tiff Macklem told reporters after the decision. The BoC's overnight target rate was last at 5.00% in March and April of 2001. Twenty of 24 economists surveyed by Reuters had expected the central bank to lift rates by a quarter of a percentage point. Money markets had seen a more than a 70% chance of a rate hike before the announcement.

Persons: Derek Holt, Andrew Kelvin, Steve Scherer, Ismail Shakil, Fergal Smith, Divya Rajogopal, Nivedita Balu, Paul Simao, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, BoC, Scotiabank, Reuters, TD Securities, Thomson Locations: Canada, Toronto

☆ Barry's CEO went from joining the gym to running the business in 11 years: I 'never expect to know what's next'
▼ + stars: | 2023-07-12 | by ( Chris Dilella | ) www.cnbc.com time to read: +10 min

In 2004, at the age of 26, Gonzalez took his first Barry's Bootcamp class in West Hollywood. "I had someone that I was dating at the time kind of challenged me to take a class," Gonzalez recalls. In 1998, entrepreneur Barry Jay established the inaugural Barry's Bootcamp in West Hollywood. And that was really how I like cut my teeth and got, you know, even more obsessed with the business," Gonzalez says. Joey Gonzalez Barry's CEOAfter North Castle Partners invested and named him CEO in 2015, Gonzalez started to build a strong leadership team.

Persons: Joey Gonzalez, Little, Gonzalez, Barry Jay, Barry's, Jonathan, Francesca, Jake, I've, What's Organizations: Entertainment, Barry's, Big Apple, North Castle Partners, Harvard Business School Locations: —, Los Angeles, West Hollywood, New York City, Cuban, Italian, Chicago, Instagram, COVID, Austin, Denver, New York, LA, Frankfurt, Berlin, Copenhagen, San Francisco

BENGALURU, July 6 (Reuters) - The U.S. dollar will hold its ground against most major currencies for the rest of the year despite expectations of narrowing interest rate differentials as the U.S. economy stays resilient, according to FX strategists polled by Reuters. "The tightness of the U.S. labour market may help the economy and the dollar in the very short term," said Kit Juckes, chief FX strategist at Societe Generale. "Even if we see (interest) rate convergence, it seems unlikely a new major euro uptrend will start without stronger growth." Indeed, a majority of common contributors showed the dollar view against most major currencies for the coming six months has been either upgraded or kept unchanged from a month ago. "The dollar is getting a tailwind from the Fed ... the current strength is on a repricing of the Fed (rate) higher," said John Hardy, head of FX strategy at Saxo Bank.

Persons: Jerome Powell, Kit Juckes, Jonas Goltermann, Sterling, John Hardy, Indradip Ghosh, Shaloo Srivastava, Sarupya Ganguly, Anitta Sunil, Veronica Khongwir, Hari Kishan, Ross Finley, Matthew Lewis Organizations: U.S, Reuters, Federal Reserve, European Central Bank and Bank of England, Societe Generale, Futures Trading Commission, Capital Economics, Saxo Bank, Thomson Locations: BENGALURU, U.S, Europe, Asia, Britain, Bengaluru

The company has provided more than 132 gigawatts (GW) of wind turbines as of the end of April this year to all global regions: 108 GW of onshore wind and 22 GW of offshore wind. The discovery of faulty components at Siemens Gamesa's onshore wind turbines had already caused a charge of nearly half a billion euros in January. Siemens Gamesa has provided wind turbines to some of the biggest power companies and oil and gas majors worldwide. Shares in European wind turbine producers Nordex (NDXG.DE) and Vestas (VWS.CO) also fell as confidence in the industry was shaken. Many wind power developers have already seen delays in projects due to the availability of components and rising costs.

Persons: Siemens Gamesa, Spain's, Denmark's, Nina Chestney, Christoph Steitz, Susan Fenton Organizations: Siemens Energy, Siemens, SIEMENS, WHO, Scottish Power Renewables, East Anglia, Poland's PGE, Siemens AG, Thomson Locations: Spain, Europe, Americas, Britain, North, Baltica, Baltic

☆ Fewer people trust traditional media, more turn to TikTok for news, report says
▼ + stars: | 2023-06-13 | by ( Helen Coster | ) www.reuters.com time to read: +2 min

TikTok is the fastest growing social network in the report, used by 20% of 18- to 24-year-olds for news, up five percentage points from last year. Trust in the news has fallen by 2 percentage points in the last year, reversing gains made in many countries at the peak of the coronavirus pandemic. On average, 40% of people say they trust most news most of the time. Across markets, 56% of people say they worry about identifying the difference between real and fake news on the internet – up 2 percentage points from last year. Reporting by Helen Coster; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Rasmus Nielsen, Helen Coster, David Gregorio Our Organizations: YORK, Reuters Institute for, Journalism, Reuters, U.S, Trust, United, Thomson Reuters Foundation, Thomson Reuters, Thomson Locations: United States

☆ Futures muted as bond yields rise on rate jitters
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 8 (Reuters) - U.S. stock index futures were largely flat on Thursday as government bond yields hovered near recent highs on worries that major central banks could keep raising interest rates. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) closed lower on Wednesday, with megacap stocks leading declines as U.S. bond yields rose after the Bank of Canada (BoC) surprised markets with an interest rate hike. The 2-year Treasury yield , which tends to move in step with short-term rate expectations, rose for a third day to 4.56%, as investors await the Federal Reserve meet next week. Eventually we don't think the Fed will hike in July," Jefferies strategist Mohit Kumar said. They see a 50% chance of a rate hike in July.

Persons: Jefferies, Mohit Kumar, Russell, Thierry Breton, Ryan Cohen, Zhu Jiang, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Bank of Canada, BoC, Microsoft Corp, Apple Inc, Amazon.com Inc, Treasury, Reserve, Traders, U.S . Labor Department, Dow e, Meta, Inc, GameStop Corp, Thomson Locations: U.S, KBW, China, Bengaluru

That hawkish change in market expectations has helped boost the U.S. dollar to its highest level since March. Just over 25% of economists in the poll, 23 of 86, forecast at least one Fed rate cut by the end of 2023, but that is down from 28% in the last poll. The U.S. Labor Department is due to release consumer price inflation data on June 13, the first day of the Fed meeting. "If most Fed officials feel at least another 25-basis-point hike will be necessary, it seems simplest to deliver that hike in June rather than 'skip'." Inflation as measured by core PCE was forecast to remain above 2% at least until 2025.

Persons: Jerome Powell, Powell, Philip Marey, Janet Yellen, Andrew Hollenhorst, Oscar Munoz, Prerana Bhat, Indradip Ghosh, Vijayalakshmi Srinivasan, Maneesh Kumar, Ross Finley, Mark Potter, Paul Simao Organizations: U.S . Federal, Reuters, U.S, Rabobank, Treasury, Bank of Canada, U.S . Labor Department, Citi, National Bureau of Economic Research, TD Securities, Thomson Locations: BENGALURU, U.S, Canadian

☆ Volvo Cars launches EX30 electric SUV with focus on affordability
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

The EX30, launched in Milan, is the smallest SUV to date from the Sweden-based manufacturer and follows the unveiling of the larger electric EX90 in November. Volvo Cars' CEO Jim Rowan has said the group didn't need to follow Tesla on EV price cuts as market demand was healthy. "Customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents," it said. It said that, based on initial data in two markets, the total cost of ownership for the new model was lower than that of any other of its fully electric cars and of most competitors in the electric, small SUV segment. The EX30's entry price is comparable to that of the EV version of Jeep's (STLAM.MI) Avenger small SUV.

Persons: MILAN, Tesla, Jim Rowan, Giulio Piovaccari, Marie, Mark Potter Organizations: NMC, Volvo, Tesla, EV, BMW, Mercedes, Audi, Marie Mannes, Thomson Locations: Milan, Italy, Sweden, U.S, Europe, Stockholm

☆ Morning Bid: China disappoints again, fanning speculation on stimulus
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +2 min

For the record, exports posted a bigger-than-expected drop of 7.5% year-on-year, sending the trade surplus to a 13-month low, while imports remained mired in negative territory. Indeed, RBA Governor Philip Lowe was still explaining Tuesday's policy decision in a speech to bankers after the central bank wrong-footed economists who predicted there would be a rate pause for a second straight month. Expectations of a follow-up hike in July cushioned the Aussie from the weak Chinese trade numbers and Australia's own below-forecast first-quarter gross domestic product data. Stock markets in Asia were mixed, as were U.S. equity futures, following a slightly firmer finish on Wall Street. Light positioning could well persist into next week's lineup of major central bank meetings, as the earnings season draws to a close.

Persons: Sonali Desai China's, Philip Lowe, Fabio Panetta, Edouard Fernandez, Bollo, Luis de Guindos, Klaas, Sonali Desai, Edmund Klamann Organizations: Reuters, Bank, Bank of Canada, Stock, U.S, Thomson Locations: Beijing, Europe, Asia, Brussels

☆ Swimply, the rental company of home pools, adds pickleball courts to its offerings
▼ + stars: | 2023-06-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +4 min

Swimply is expanding its marketplace to offer pickleball court rentals. Pickleball courts are even starting to fill the vacant space left behind by retailers in malls. In Stamford, Connecticut, for example, Pickleball America plans to turn 80,000 square feet of a former Saks Off 5th space into 28 pickleball courts. The company has been rapidly building courts — as well as converting courts from tennis to pickleball — and now has more than 400 pickleball courts at its more than 200 golf and country clubs across the country. Swimply court rentals range from $25-$100 per hour.

Persons: Laskin, there's, There's, Linda Hwang, TPL, St . Louis, —, David Pillsbury, Pillsbury Organizations: CNBC, New, Day, Labor, Trust, Public, People Lab, Saks Locations: New York City, New York, Los Angeles, Bay Area, Houston, Austin , Texas, U.S, Sarasota , Florida, ., Stamford , Connecticut, America, St .

☆ Exchange operator Cboe gets nod to launch leveraged crypto derivative products
▼ + stars: | 2023-06-05 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

The U.S. Commodity Futures Trading Commission approved Cboe Digital to be the first U.S.-regulated crypto exchange and clearinghouse platform to offer leveraged derivatives when the contracts launch in the second half. The margined contracts will let users trade crypto futures while putting less collateralized capital up front, with trades executed and cleared through an approved set of member futures commission merchants, Chicago-based Cboe said. Cboe Digital currently allows trading and clearing of bitcoin and ether futures on a fully collateralized basis, meaning users must provide the full amount of futures contracts upfront. Cboe Digital also supports the spot trading of bitcoin, bitcoin cash, ether, litecoin and USDC. On Oct. 20, 2021, Chicago-based Cboe announced its intention to buy crypto exchange and clearinghouse ErisX.

Persons: Cboe, John Palmer, Jane Street, FTX, John McCrank, Hannah Lang, David Gregorio Our Organizations: YORK, U.S . Commodity Futures Trading Commission, Cboe, Robinhood Markets, Interactive, Virtu, IG Group, CFTC, Thomson Locations: U.S, Chicago, Washington

☆ US telecom companies say not in talks with Amazon for wireless services
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +3 min

June 2 (Reuters) - Major U.S. wireless carriers on Friday said they not in talks with Amazon.com Inc (AMZN.O) to offer low-cost wireless services to its Prime members. "AT&T is not in discussions with Amazon to resell wireless services," a company spokesperson said. Verizon spokesperson the company "is not in negotiations with Amazon regarding the resale of (Verizon's) wireless network. Brandon Nispel of KeyBanc Capital Markets said Dish Network, a relatively new entrant in wireless, could be the most likely partner for Amazon. They also rallied in May after a Wall Street Journal report that Dish was in talks to sell its wireless plans through Amazon.

Persons: Christopher Ali, Brandon Nispel, Michael Ashley Schulman, Yuvraj Malik, Aditya Soni, Tanya Jain, Akash Sriram, David Shepardson, Sheila Dang, Nivedita Bhattacharjee Organizations: Major U.S, Amazon.com Inc, Wireless, Bloomberg News, Amazon, Dish Network, Verizon, Mobile, Penn State University, AT, KeyBanc, Journal, U.S, Running, Capital Advisors, Thomson Locations: Major, Bengaluru, Washington, Dallas

Average house prices as measured by the S&P CoreLogic Case-Shiller composite index of 20 metropolitan areas were forecast to stagnate next year. "Looking ahead, we think there is scope for prices to fall a little further. "Given supply is likely to stay tight, there is a risk house prices may not fall as much as we previously expected." The 30-year fixed mortgage rate, currently around 6.7%, was expected to average 6.2% in 2023. Those high mortgage rates are restricting housing supply, which puts upward pressure on prices, as well as demand.

Persons: Sam Hall, haven't, Sal Guatieri, Indradip Ghosh, Prerana Bhat, Aditi Verma, Maneesh Kumar, Jonathan Cable, Ross Finley, Sharon Singleton Organizations: stagnating, Reuters, U.S . Federal Reserve, Capital Economics, BMO Capital Markets, Thomson Locations: BENGALURU

☆ Volvo wins record order for electric trucks from Holcim
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: 1 min

OSLO, May 22 (Reuters) - Volvo Trucks (VOLVb.ST) said on Monday it has signed a letter of intent to sell 1,000 electric trucks to Swiss building solutions provider Holcim (HOLN.S) for delivery in the next seven years. "The deal is the largest commercial order to date for Volvo electric trucks," Volvo said in a statement. The first 130 trucks will be delivered during the fourth quarter of 2023 and throughout 2024 to markets including France, Germany, Switzerland and Britain, among others. By replacing 1,000 diesel trucks with electric versions using green electricity could save up to 50,000 tons of carbon dioxide emissions every year, Volvo said. Reporting by Terje Solsvik, editing by Anna RingstromOur Standards: The Thomson Reuters Trust Principles.

☆ Buy Charles Schwab shares to ride out potential summer volatility, Deutsche Bank says
▼ + stars: | 2023-05-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Deutsche Bank thinks Charles Schwab stock is poised to break out in a more challenging market environment in the next three-to-six months. Analyst Brian Bedell also noted that Charles Schwab shares could get a boost once market volatility picks up. SCHW YTD mountain Shares of Charles Schwab have lost about 37% from the start of 2023. "After a lull in market volatility since March, we expect turbulence to resume this summer, assuming economic data weakens & markets increasingly debate recession timing and Fed policy," he wrote Thursday. Bedell also said that a slowdown in cash sorting will also help Schwab shares.

"Put simply, inflation is more than double the Fed's target rate and the unemployment rate is below every FOMC participant's estimate of the natural rate. "In our view, rather than lean against a mild recession, the Fed would view it as an acceptable price for bringing inflation back down to target." A slight majority, 22 of 41 respondents, said the risk of a default was higher this time compared to prior episodes of debt ceiling brinkmanship. Elevated worries about a default will push U.S. Treasury yields higher over the coming weeks, a separate Reuters poll showed. The macroeconomic consequences of a short default would be somewhat more severe."

☆ Musk tells Tesla staff he must approve all hiring- memo
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also cautioning them to "think carefully" before submitting such requests. "No one can join Tesla, even as a contractor, until you receive my email approval", Musk said in the email on Monday. Musk named former NBCUniversal advertising chief Linda Yaccarino as Twitter's new CEO last week. He said on Friday that hiring Yaccarino would allow him to spend more time to run Tesla. The billionaire is expected to address Tesla shareholders on Tuesday at the automaker's annual meeting at its headquarters in Austin, Texas.

☆ Elon Musk said he must approve all hiring decisions at Tesla
▼ + stars: | 2023-05-16 | by ( ) edition.cnn.com time to read: +1 min

Reuters —Tesla Inc CEO Elon Musk has said that the company can make no new hires unless he personally approves them, according to a copy of the email seen by Reuters. “No one can join Tesla, even as a contractor, until you receive my email approval,” Musk said in the email on Monday. According to the email, Musk told executives to send him a list of hiring requests on a weekly basis, while also cautioning them to “think carefully” before submitting such requests. He said on Friday that hiring Yaccarino would allow him to spend more time to run Tesla. The billionaire is expected to address Tesla shareholders on Tuesday at the automaker’s annual meeting at its headquarters in Austin, Texas.

ACCRA, May 14 (Reuters) - Ghana expects the International Monetary Fund to approve a first loan tranche of $600 million as soon as Wednesday, paving the way for disbursement within a week, Minister of State in the Finance Ministry Mohammed Amin Adam told Reuters on Sunday. Ghana is seeking $3 billion from the Fund to shore up its battered economy. On Friday, IMF Managing Director Kristalina Georgieva said Ghana's official creditors had provided the necessary financing assurances for the IMF Executive Board to look at signing off on the loan. Adam said he expected negotiations with both sets of creditors to go well once the IMF signs off on the loan. Adam said the government was also in talks with the African Development Bank for over $100 million for the stability fund.

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