Business

BYD “overtakes” Tesla as the world’s biggest EV maker in 2H22, but there’s a catch

Tesla delivered 564,000 all-electric vehicles in the first half of 2022, and while this represented a 27% year-over-year growth, it fell short of the numbers posted by one of the company’s competitors, the Warren Buffett-backed BYD. In comparison to Tesla, BYD sold 641,000 electric vehicles in China during the first and second quarters. But there …

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Dow Jones Dives As Tesla Skids On Slower Q2 Deliveries

The Dow Jones Industrial Average dived 600 points Tuesday morning, signaling a weak start to the holiday-shortened week. Tesla stock skidded after the company reported weaker-than-expected deliveries in the second quarter. x Netherlands-based chip equipment maker ASML Holding (ASML) fell hard as chip stocks continued reeling in the wake of Micron Technology‘s (MU) weak quarterly …

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Euro Tumbles to 20-Year Low, Putting Parity With Dollar in Sight

(Bloomberg) — The euro slid to a 20-year low against the US dollar as traders bet that the European Central Bank will go slower on raising interest rates as the economy risks being tipped into a recession. Most Read from Bloomberg The common currency fell much as 1.4% to $1.0281, its weakest level since December …

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Crypto lender Nexo offers to buy embattled rival Vauld

Bitcoin, the world’s biggest cryptocurrency, is down more than 50% since the start of 2022. Nurphoto | Getty Images Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from larger competitor Nexo, in a sign of mounting consolidation in the crypto market. Nexo said Tuesday it had signed a term sheet with Vauld giving it …

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Brent falls as recession fears deepen demand concerns

A view of the Phillips 66 Company’s Los Angeles Refinery (foreground), which processes domestic & imported crude oil into gasoline, aviation and diesel fuels, and storage tanks for refined petroleum products at the Kinder Morgan Carson Terminal (background), at sunset in Carson , California, US, March 11, 2022. REUTERS/Bing Guan Register now for FREE unlimited …

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