Tesla shares jumped 5% on Friday on expectations that its electric-vehicle charging system would become an industry standard after General Motors joined cross-town rival Ford in agreeing to use the Tesla Supercharger network.
Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms’ voting.
Investors poured money into cash and bonds in the week to Wednesday, according to data from BofA Global Research, ahead of next week’s pivotal central bank meetings from the Federal Reserve, European Central Bank and the Bank of Japan.
France’s finance ministry is working on plans to close a tax loophole benefiting short-term furnished rentals such as AirBnB , Finance Minister Bruno Le Maire said on Friday.
U.S. stock index futures slipped on Friday, a day after the benchmark S&P 500 marked a 20% rally from lows, while inflation data and U.S. monetary policy decision due next week kept investors on their toes.
Lordstown Motors said on Friday it plans to take legal action against investor Foxconn to ensure that the Taiwanese contract manufacturer completes a planned purchase of nearly 10% of the electric vehicle startup’s shares.
Global equity funds posted outflows for the eighth consecutive week in the seven days leading up to June 7, as concerns over stubbornly high inflation and sluggish economic growth prompted investors to pull back from riskier assets.
China’s economic growth is expected to be “relatively high” in the second quarter compared to the prior year, mainly due a low base of comparison, while consumer inflation is projected to be above 1% by December, the central bank governor said.
Saudi Arabia kept under wraps its plan to make a deep cut to its own oil output during a weekend of OPEC+ talks in Vienna, several OPEC+ sources told Reuters, with some member states only learning about the reduction from the final news conference.
