Following the footsteps of domestic peers Nio Inc - ADR (NYSE: NIO) and Li Auto Inc. (NASDAQ: LI), Chinese EV maker Xpeng could reportedly begin trading in the U.S. as early as this month.What Happened: Xpeng, which initially filed its preliminary prospectus with the SEC Aug. 7 and subsequently amended it Aug. 11, is expected to amend the prospectus further Friday with additional information, Chinese media outlet IFNews.com said, citing unnamed sources.The size of the offering will likely be $1 billion and the ADSs could be listed Aug. 27, the report said.When contacted by Benzinga, a company spokesperson declined to comment Thursday.The EV maker has applied to list its ADSs on the NYSE under the ticker symbol "XPEV," according to the F-1 filing.The company intends to use the net proceeds for R&D, marketing and other corporate purposes, according to the filing. Why It Matters: Xpeng's U.S. listing plans come at a...
Tubing and hose chafing violations will be a focal point for Commercial Vehicle Safety Alliance enforcement officers Aug. 23-29, as they conduct Level 1 inspections as part of Brake Safety Week. ...
Tubing and hose chaffing violations will be a focal point for Commercial Vehicle Safety Alliance (CVSA) enforcement officers August 23-29, as they conduct Level 1 inspections as part of Brake Safety Week. ...
(Bloomberg) -- Colombia sold two-thirds of its gold reserves in a single month just as investors seeking havens against global turmoil were about to drive the metal to a record high.The nation sold 1.8 trillion pesos ($475 million) of its bullion in June, the central bank reported on its website, equivalent to 67% of its holdings at the end of May.Investors have piled into precious metals this year as yields on other haven assets such as treasuries sank to record lows. The rally even drew in Warren Buffett, a noted gold skeptic, whose Berkshire Hathaway Inc. added miner Barrick GoldCorp. to its portfolio last quarter.Colombian gold once attracted Spanish conquistadors who believed the country to be home to El Dorado, a place of fabulous wealth. But the nation’s central bank doesn’t share the general enthusiasm for the metal.Gold now accounts for about 0.4% of Colombia’s international reserves, compared to about 77%...
(Bloomberg) -- A group of former Federal Reserve officials and staffers, including former Vice Chairman Alan Blinder, published an open letter Thursday calling on the U.S. Senate to reject President Donald Trump’s nomination of Judy Shelton to the central bank’s Board of Governors.“Ms. Shelton’s views are so extreme and ill-considered as to be an unnecessary distraction from the tasks at hand,” the letter said.The letter was also signed by two former reserve bank presidents and three former division directors on the board’s staff. It has 38 current signatories, all of whom worked at the central bank at some point.The Senate Banking Committee advanced Shelton’s nomination on a party-line vote in July, and she now awaits approval by the full Senate. No vote has been scheduled for her or fellow nominee Christopher Waller, research director at the St. Louis Fed.Shelton didn’t immediately respond to an email seeking comment.Two Republican senators, Mitt Romney...
