Chinese electric car company Nio doubles deliveries in 2020 as local competition ramps up for Tesla
Key Points Chinese electric car start-ups Nio, Li Auto and Xpeng each announced in the last few days that vehicle deliveries surged last year. The U.S.-listed shares of the three automakers have soared over the last several months. As much ground as the start-ups have gained, the numbers still fall far short of Elon Musk’s […]
Inflation Might Be The Most Important Market Factor In 2021
The run into the new year is usually congested with rafts of forecasts from economists and strategists as to where markets might go and, what the economic outlook could look like. To a large degree any prognostications on shocks and surprises through 2021 have been made redundant by the drama and tragedy of 2020. Whatever […]
Two Biden aides will recuse on BlackRock issues as past ties pose questions
The world’s largest asset manager has much at stake as the new president’s team takes office In 2013, the asset management firm BlackRock unleashed a lobbying blitz to carpet-bomb a new Treasury Department agency, pushing federal regulators away from tightening requirements on its massive business lines. In 2019, the company won again when the Trump […]
Delta Air Lines CEO expects positive cash flow by spring
(Reuters) – Delta Air Lines CEO Ed Bastian said in a memo on Friday that he continues to expect that the company will achieve positive cash flow by the spring. In his new year note to employees, Bastian said that company will likely “experience two distinct phases during the next 12 months.” The first phase […]
PE-VC investments in 2020 grow 6.6% to $39.2 bn on back of RIL deals
The bounce back in PE-VC investment activity was markedly concentrated on the two ends of the spectrum: large ticket deals and early stage deals Private Equity – Venture Capital (PE-VC) firms grew by 6.6 per cent in 2020 to $39.2 billion (across 814 deals) from $36.3 billion (1,012 deals) in 2019. The increase was largely […]
World’s Top Cigar Producer Enjoys Boom Amid Covid Lockdowns
(Bloomberg) — Locked-down smokers around the world are proving to be a boon for the Dominican Republic’s cigar and tobacco industry. Already the world’s largest cigar producer, the Caribbean nation is on track to export a record $1 billion worth of tobacco products this year. That would represent a 6% jump over the $942 million […]
Despite higher costs for residential deliveries, analysts see reasons to bet on FedEx
Parcel carriers FedEx and UPS have had to quickly ramp up their networks for what has become a historic year for residential shipping. Both have prevailed, but investors have some concerns. Even before peak holiday season, more people had turned to spending online during the coronavirus pandemic after retailers shuttered their storefronts. In turn, shares […]
Why business is worried about trade-based money laundering
Financial crime watchdog sees cases involving everything from soft fruit to luxury cars Onions, potatoes, soft fruit, luxury cars, expensive watches . . . it reads like a list of goods held up at the Channel crossing in the UK’s pre-Christmas travel chaos. But it is a sample of some of the exports that feature in a longer-term worry […]
Gene Munster, who called Apple’s run to $2 trillion, says a path to $3 trillion is in sight
Tech investor Gene Munster told CNBC on Thursday he sees a reasonable path for Apple to reach a $3 trillion market capitalization in the future. The iPhone maker became the first publicly traded U.S. company to reach a $2 trillion market cap in August — a milestone Munster foresaw in January, when he made the […]
KKR to float private InvIT in bid to house renewable assets
KKR set up Virescent Infrastucture to manage its investments in green energy assets in India. This will be the second InvIT backed by KKR in India. Private equity firm KKR is setting up a private infrastructure investment trust (InvIT) to house operating renewable energy assets it aims to acquire in India, said two people aware […]
