BEIJING — China’s producer price index rose 9% in May from a year ago as commodity prices surged, the National Bureau of Statistics said Wednesday. That marked the fastest increase in production costs since September 2008, when the index rose 9.13%, according to Wind Information. While the gains surpassed expectations of an 8.5% increase, according […]
BEIJING — Tesla’s sales in China rose in May from the prior month, but failed to recover levels seen in March, according to the China Passenger Car Association. Tesla sold 33,463 electric cars in May, up 29% from April’s 25,845 units, data released late Tuesday showed. The number still fell short of March’s 35,478 car […]
Several of the world’s most prominent billionaires paid minimal to no federal income tax in some years, ProPublica reported on Tuesday, citing confidential Internal Revenue Service records it had reviewed. The world’s wealthiest individual, Amazon.com Inc. CEO Jeff Bezos, did not pay any federal income tax in 2007 and 2011. Tesla Inc. CEO Elon Musk […]
Biogen on Tuesday faced tough questions from Wall Street analysts over the $56,000 annual cost of its newly approved Alzheimer’s drug, Aduhelm – a price tag executives are calling “fair” and “responsible.” Shares of Biogen surged 38% on Monday after the FDA announced it approved the company’s drug, scientifically known as aducanumab. It is the […]
Ethereum Co-Founder Vitalik Buterin sets the record straight by saying he’s open to working with Dogecoin developers to improve the meme token. This could come in the form of a bridge between the two cryptocurrencies. Previously, Buterin criticized Elon Musk’s comments on making Dogecoin better than Bitcoin, saying it isn’t as easy as how he […]
What happened Shares of Cassava Sciences (NASDAQ:SAVA) rose 15% in May, according to data provided by S&P Global Market Intelligence. After a positive meeting with the Food and Drug Administration (FDA) in February, its treatment for Alzheimer’s Disease (AD) got more good news in May: It received a $2.7 million grant from the National Institutes of Health (NIH). So […]
GameStop and AMC are trading at levels no one could have imagined a year ago. Now, Reddit’s r/WallStreetBets community is looking for the next company whose stock is set to explode—and seems to have settled on Blackberry. The company behind the once iconic line of pagers and smartphones has seen its shares increase 137% year […]
Apple Inc (AAPL.O) is in early-stage talks with China’s CATL (300750.SZ) and BYD (002594.SZ), about the supply of batteries for its planned electric vehicle, four people with knowledge of the matter said. The discussions are subject to change and it is not clear if agreements with either CATL or BYD will be reached, said the […]
Elon Musk announced on Sunday that Tesla is canceling its announced Model S Plaid+ trim because the regular Model S Plaid “is just so good.” The $149,990 Plaid+ was set to be the world’s quickest mass market car with a 0-60 mph acceleration time under 1.99 seconds and the longest-range electric vehicle at 520 miles, […]
Gold declined as comments by Treasury Secretary Janet Yellen on inflation raised expectations for fiscal spending, pushing Treasury yields higher. Bullion ticked lower after Yellen said Sunday that President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation that persists into next year, adding that a “slightly higher” […]
France’s competition watchdog has fined Google 220 million euros ($267 million) for abusing its market power in the online advertising industry. The French Competition Authority said Monday Google had unfairly sent business to its own services, and discriminated against the competition. Google has agreed to pay the fine and end some of its self-preferencing practices, […]
Jeff Bezos will fly on the first passenger flight of his space company Blue Origin, which the company plans to launch on July 20, the billionaire announced Monday. “I want to go on this flight because it’s the thing I’ve wanted to do all my life,” Bezos said in a video posted to his Instagram. […]
