Chinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack - one of the most expensive EV components - thereby lowering the starting price of its cars. The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle (SUV) priced 273,600 yuan ($39,553) without ownership of the battery pack, versus 343,600 yuan including the pack. "We believe with BaaS, more customers of gasoline cars will consider electric vehicles," Nio's chief executive William Li told reporters....
(Bloomberg) -- Stocks dropped in much of the world after the Federal Reserve signaled continued concern over the pandemic weighing on the world’s biggest economy. Treasuries advanced.The Stoxx Europe 600 Index opened lower as caution carried over from Asia, where an MSCI equities benchmark headed for its biggest drop since mid-July. S&P 500 Index futures declined, pointing to another weak session after Fed minutes of a July meeting warned about the pandemic’s toll on the economy and said the rebound depends on virus containment.The dollar held Wednesday’s gains against its biggest peers, while gold edged higher.Equities in several continents are seeing fresh weakness as investors debate whether momentum that pushed the S&P 500 to a record high this week can be sustained amid lofty valuations and uncertainties over further stimulus to counter the pandemic. Fed officials said the virus was posing “considerable risks” to the economic outlook over the medium term.“There...
(Bloomberg) -- U.S. and European equity futures declined along with Asian stocks Thursday after Federal Reserve minutes signaled tempered optimism about second-half growth and as Sino-American tensions simmered. The dollar extended its rebound.Shares in South Korea and Taiwan saw the bulk of losses, with China, Hong Kong and Japan also lower. A drop in S&P 500 futures signaled Wednesday’s weakness may continue after the Fed noted the health crisis would “weigh heavily” on economic activity and repeated its view that the recovery path depends on virus containment. The greenback built on gains that came after a five-day selloff. Gold pared an overnight fall. Treasury yields ticked lower.Global equities are seeing weakness as investors debate whether momentum that pushed the S&P 500 to a record high this week can be sustained amid lofty valuations and uncertainties over further government stimulus. Fed officials said the virus was posing a considerable risk to the...
The COVID-19 pandemic has accelerated digital transformation as more people are working from home and even education has moved online. The new normal has been favorable for many tech companies as the demand for PCs, laptops and other peripheral accessories has increased.Chip companies like Micron Technology, Qualcomm, NVIDIA, AMD and Intel are experiencing higher demand from OEMs (original equipment manufacturers) like personal computer manufacturers and gaming console makers. They are also seeing robust sales of chips to data centers.Using the TipRanks’ Stock Comparison tool, we will place Intel and AMD alongside each other to see which stock offers the most compelling investment opportunity.Intel (INTC)Intel, once a dominant chipmaker, now lags rivals who aggressively advanced on the technology curve. The company’s recent announcement that its 7-nanometer chip rollout is delayed to at least late 2022 didn’t go down well with its investors. The delay strengthens AMD’s position against Intel as it already...
(Bloomberg) -- Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011.“When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the globe, it’s hard to be excited about alternative currencies,” said Troy Gayeski, co-chief investment officer and senior portfolio manager, listing the euro, yuan and emerging-market monies. “So, gold is obviously a natural alternative currency.”The precious metal surged to a record well above $2,000 an ounce earlier this month -- although prices have stumbled since then -- as central banks including the Federal Reserve unleashed vast stimulus to support economies hurt by the coronavirus pandemic. That’s spurred bets that paper currencies will lose their value as money supply jumps. Goldman Sachs Group Inc. calls gold the currency of...
Spot gold was up 0.9% at $1,946.09 per ounce by 0307 GMT, after declining more than 3.5% to a near one-week low on Wednesday. U.S. gold futures fell 0.9% to $1,952.90. The Fed on Wednesday warned the economic downturn triggered by the COVID-19 pandemic faces a highly uncertain path and reiterated the need for additional fiscal stimulus....
