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Tesla is Discounting Cars in the United States
Electric vehicle pioneer Tesla is offering discounts worth more than $1,300 on its Model 3 cars in the United States after the company introduced major discounts across Europe, according to a review on its website made by Reuters. In the midst of economic turmoil, Tesla has aggressively cut its car price-tags this year in efforts to clear inventory, according to analysts.
MACROECONOMIC DATA ANALYSIS
Russian officials and business leaders have signed several deals with Cuban counterparts at a forum in Havana this week, agreeing to co-operate in boosting the output of sugar and rum, assure wheat and crude supply to Russia and overcome the obstacles faced in touristic areas and facilities. The long-time political allies, which are both subject to U.S. sanctions, are looking to strengthen economic ties by doubling up on trade and investment.
Britain has officially published plans to ban imports of Russian diamonds, copper, aluminum and nickel alongside announcing new sanctions against Russia which targets companies connected to suspected theft of Ukrainian grain. Moreover, the United States and Canada have also announced new penalties on Russia which concern gold production.
CURRENCIES
The U.S. dollar dropped in value on Friday but remained near two-month highs as fresh talks concerning the U.S. debt default conundrum has fueled concerns within the American economy, and thus deterring investors from the safe haven currency. The dollar index, which tracks the greenback against other major currencies, fell 0.37% to 103.070.
GOLD
Gold prices jumped on Friday as the U.S. dollar dwindled amid fresh talks regarding the United States debt ceiling situation, which in-turn swayed investors away from the dollar greenback and towards the safe haven precious metal. Gold futures jumped 1.03% to $1,979 per ounce.
OIL
Oil prices slipped on Friday’s trading session as investors and traders grew more concerned that U.S. politicians will fail to agree on a new debt ceiling for the nation and trigger a default which shall damage the economy and hence, diminish fuel demand. Brent futures dropped 0.36% to $75.59 a barrel while WTI futures fell 0.26% to $71.67 per barrel.
INDICES
USA: S&P500 -0.14%, Dow Jones Industrial Average -0.33%, Nasdaq Composite -0.22%
Europe: FTSE 100 +0.19%, DAX +0.69% CAC 40 +0.61%
Asia: Nikkei 225 -1.40%, Hang Seng -0.29%, CSI 300 -0.10%, Nifty 50 +0.41%
Newest
Daimler and Toyota announced on Tuesday that they had entered a non-binding agreement to combine the businesses of their truck units in Japan. Under the partnership’s memorandum of understanding (MOU), the businesses of Daimler-owned Mitsubishi Fuso Truck and Bus Corp and Toyota subsidiary Hino Motors would be combined under a holding company, as said in a statement.
OpenAI CEO Sam Altman said on Friday that the corporation is not planning on leaving Europe and areas of the European Union, contrasting a threat made earlier in the week to exit the region if it becomes difficult to comply with stringent artificial intelligence laws. The European Union is drafting a first set of global rules to govern artificial intelligence and Altman believes that the current draft is “over-regulating”.
