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Tesla hits $1 trillion market value as Musk-backed Trump win fans optimism

8 Nov 2024

By Akash Sriram (Reuters) -Tesla’s market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk’s companies will get favorable treatment under President-elect Donald Trump for his extensive support during the poll campaign. The electric automaker’s shares jumped 8.2% to $321.22, catapulting the company’s valuation above …

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US high-grade corporate bond spreads lowest since 1998 after Trump election

8 Nov 2024

NEW YORK (Reuters) – U.S. investment-grade corporate credit spreads hit their lowest since 1998 this week in a sign of growing investor confidence in the U.S. economy and in line with a surge in other risk assets such as stocks after Republican Donald Trump’s election as U.S. president.  The spread on the ICE BofA U.S. …

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US agency raises concerns about Tesla Full Self-Driving social media posts

8 Nov 2024

By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration raised concerns about Tesla social media posts that suggested its Full Self-Driving software can be used as a robotaxi and does not need driver attention. NHTSA in October opened an investigation into 2.4 million Tesla vehicles with FSD software after four reported collisions, including …

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US fiscal health risks increase after Trump election, says Moody’s

8 Nov 2024

NEW YORK (Reuters) – The U.S. fiscal health is at higher risk after the election of Republican Donald Trump as the next U.S. president and given the likely composition of Congress, said rating agency Moody’s. U.S. budget deficits and government debt levels were largely projected to surge under either candidate in the Nov. 5 election, …

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Brazil aid to airlines on the way, says airports minister

8 Nov 2024

By Luciana Magalhaes SAO PAULO (Reuters) – A Brazilian government-backed credit line for struggling airlines should be ready by early 2025, helping the industry ride out a bumpy stretch for big carriers, Ports and Airports Minister Silvio Costa Filho told Reuters. Gol Linhas Aereas, which is negotiating its exit from bankruptcy protection, and Azul, which …

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Factbox-US congressional races where crypto is hoping for big payoffs

8 Nov 2024

By Hannah Lang (Reuters) – The cryptocurrency industry, including heavyweights like Coinbase and Ripple, spent more than $119 million backing pro-crypto U.S. congressional candidates, hoping to boost those who would pass crypto-friendly bills to promote digital assets. The effort succeeded on Tuesday, with many of the industry’s chosen candidates winning their races, potentially ushering in …

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Paramount revenue misses as cable, studio declines dull streaming gains

8 Nov 2024

(Reuters) -Paramount Global missed quarterly revenue estimates on Friday as weakness in the media giant’s studio and cable businesses outweighed strong subscriber growth at its streaming service after the return of NFL. Its shares dropped 3.7% in early trading even as third-quarter profit surpassed Wall Street expectations thanks to cost controls and the streaming subscriber …

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Boeing exploring possible $6 billion sale of Jeppesen unit, Bloomberg News reports

8 Nov 2024

(Reuters) – Boeing is exploring a possible $6 billion sale of its Jeppesen navigation unit, Bloomberg News reported on Friday. The planemaker is working with an adviser on the potential sale of the unit, which provides interactive flight plans, the report said. Suitors are already circling Jeppesen, which could attract sizable interest from private equity …

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