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Editor’s Pick

Porsche is upbeat on China sales as automakers bet on luxury electric vehicles

5 years ago

The coronavirus pandemic has generally affected wealthier segments of the Chinese population less, while altering some consumer habits that are driving demand for luxury car brands such as Porsche.
Electric vehicles in the high-end segment are particularly in demand, several executives say.
However, Thomas Ingenlath, CEO of premium electric vehicle brand Polestar, says that even with growth in China, he expects the market will remain less than half of global sales.

Irish pubs get the nod to re-open after enduring one of the longest shutdowns in Europe

5 years ago

Under the original lockdown easing schedule, pubs were due to re-open in August but that had been pushed back repeatedly.
Pubs that serve food, as well as restaurants and hotels, re-opened in late June under restrictions.
The new rules will put all pubs on a relatively similar footing, requiring table service and limiting group sizes.
In cases where two-meter distancing isn’t possible, customers can only stay for 105 minutes and all customers must be off the premises by 11:30 p.m.

Legal & General CEO urges UK government to adopt one-meter social-distancing measures

5 years ago

“I think business could adapt much, much better, including your own business, but every business on a one-meter rule,” Nigel Wilson, chief executive of Legal & General, told CNBC’s “Squawk Box Europe.”
His comments come after some business leaders and lawmakers have called on the government to relax the guidelines.
Downing Street said earlier this week that a review into the two-meter social distancing rule, designed to curb the spread of the virus, would be completed over the coming weeks.

China says August exports beat expectations, jumping 9.5% from a year ago

5 years ago

China’s dollar-denominated exports rose 9.5% for the month of August while imports fell 2.1% in the same period, data from the country’s General Administration of Customs showed on Monday.
Economists polled by Reuters had expected exports to have climbed 7.1% in August from a year ago imports to rise 0.1% in the same period.
China posted a trade surplus of $58.93 billion for the month of August.

Pelosi vows to get Trump’s tax returns from Treasury if Biden wins: ‘The world will see what the president has been hiding’

5 years ago

House Speaker Nancy Pelosi vowed that Congress will get President Donald Trump’s income tax returns from the next Treasury Department secretary if Democratic nominee Joe Biden is elected to the White House.
Trump, who is seeking reelection, has refused to release his income tax returns to the public, despite other presidents having done so for the past four-plus decades.

Health start-up backed by Groupon co-founder joins the fight against Covid-19

5 years ago

Tempus was formed to help identify cures for a variety of illnesses, from cancer to depression and now Covid-19.
The health-care company conducts genomic tests and analyzes clinical data in a patient’s electronic health-care records, anything from medical imaging to a doctor’s handwritten notes.
Former FDA Commissioner Scott Gottlieb is on the Tempus board of directors, and the company is valued at $5 billion by investors.

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges

5 years ago

Digital lending start-up Blend raised $75 million in fresh funding at a valuation of almost $1.7 billion, a jump of more than 70% from its previous round a year earlier, CNBC has learned.
Refinance application volumes jolted more than 1,000% higher in March, and purchase applications climbed by more than 100% every month since May, according to company figures.
The Series F funding round was led by Canapi Ventures, a fintech VC fund that is backed by the banking industry and led in part by Gene Ludwig, a former U.S. regulator who founded the Promontory Financial Group.

‘Shark Tank’ investor Kevin O’Leary: When it’s time to close your business and call it quits

5 years ago

Shark Tank’ investor Kevin O’Leary gives advice on when it’s time to close your business and call it quits at CNBC’s Small Business Playbook virtual summit on Wednesday.
Consumer behaviors have shifted and now may be the time to pivot your business in the digital economy, he said.
Never use more than one-third of your company’s free cash flow to service debt or you will never be able to reinvest and grow your business.

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