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With $1 Billion U.S. Electric Push, Mercedes Plots Tesla Attack

Setting the world’s largest luxury-car maker up to battle with battery-car specialist Tesla Inc. on its home turf, Daimler AG plans to spend $1 billion to start production of Mercedes-Benz electric vehicles at its Alabama factory.   The company said in a statement that more than 600...

Jamie Dimon Of JP Morgan Warns Bitcoin And Cryptocurrencies Will Be Closed Down By Government If They Get Too Big

Warning that governments will shut them down if they grow too large, JP Morgan Chase Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again.   "Right now these crypto things are kind of a novelty. People think they're kind of neat. But the...

The Third Quarter Ended On A High Note For Euro Zone Businesses

According to the results of a survey published on Friday, bolstered by manufacturers, who had their best month since early 2011, Euro zone private businesses ended the third quarter with much stronger growth than predicted.   Expectations that the European Central Bank will announce plans...

Based On Strong Demand, Boeing Boosts Southeast Asia Order Forecast

Driven by low-cost carriers making travel more accessible in the Southeast Asian regions, in what is being touted as the largest jump of any global region, Boeing Co said on Friday it had increased its 20-year forecast for the regions’ demand by 460 aircraft.   Basing its predictions on an...

Slow Innovation At Apple Sees Its Fast-Moving Chinese Rivals Gaining Share In Wealthy Markets

Driven by better designs and lower prices, best chance yet to conquer developed markets has been presented to Asian rivals of iPhone maker Apple by slowing innovation at the U.S. giant, retailers and consumers say.   Phones from China’s Huawei and Oppo, and Samsung Electronics already...

Brexit's First Wave Will Affect 10,000 UK Finance Jobs: Reuters Survey

According to a Reuters survey of firms employing the bulk of workers in international finance in Britain, if the UK is denied access to Europe’s single market, around 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years.   The survey showed that with...

Wiring Of Europe's Highways For Electric Cars Sees Energy Firms Battling Startups

Expanding from the continent’s cities to its motorways is the battle over how and where Europeans charge their electric cars.   While advances in electric vehicles means where they build them is changing, in the fast-growing business of charging stations, power utilities, tech start-ups and...

It May Raise Interest Rates In 'Coming Months', Warns Bank Of England

In the forthcoming months, people and investors can expect a rate rise in the U.K. said the Bank of England, even though it has left the rate steady in its announcement on Thursday.      The Monetary Policy Committee (MPC) noted that a strengthening economy and inflationary...

Now Under Threat Is Manufacturing, On Which Asia Has Long Relied On For Growth

As technology changes the way manufacturers operate, Boston Consulting Group said in a new report, there will be likely erosion of the competitive edge for Asian economies — many of which depend on low-cost labor and exports for growth.   The consulting firm said that in a more...

For The First Time Since March, OPEC Oil Production Falls

With several key exporters in the group throttled back production, OPEC's oil output fell in August for the first time since March according to a monthly tally released Tuesday.   According to independent sources that monitor OPEC's production the 14-member cartel pumped 32.76 million...

Blitz To Tax Revenues Of US Tech Giants By EU Driven France

In a change that would wreak havoc with many technology groups' business models in Europe, based on revenues generated in EU countries, Paris and Berlin are mounting a joint offensive to tax internet giants such as Google and Amazon.   National tax codes will be...

iPhone Enthusiasm In China Dampened By $1,000 Price Tag

Hoping that number’s auspicious connotations in China will help turn around fortunes in the world’s biggest smartphone market after six quarters of falling sales, Apple Inc will launch an expected “iPhone 8” on Tuesday.   But with the latest model tipped to have a price tag upward of $1,000...
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