Airlines are struggling to coax passengers back into the skies, and one company is looking to help solve that problem — by giving flyers a breath of their own fresh air....
Nio (NIO) is rising 5% in Monday’s pre-market trading, after a filing revealed that Tencent (TCEHY) has further boosted its stake in the Chinese electric vehicle company.In June 2020 Tencent snapped up a further 1,680,000 American depositary shares (ADSs) representing 1,680,000 of Nio’s Class A Ordinary Shares through Huang River for an aggregate purchase price of $10 million.Following this latest transaction Tencent, the world’s largest video games company, now owns 15.1% of Nio. Shares in Nio have exploded over 80% year-to-date and, as a result, analysts have a cautious Hold consensus on the stock’s outlook. That’s with a $5.55 average analyst price target (24% downside potential).However Merrill Lynch’s Ming-Hsun Lee is taking a bullish stance, and has just reiterated a NIO buy rating while ramping up the price target from $5.50 to $7.30.According to Lee, Nio is now enjoying stronger orders and should benefit from China’s favorable EV purchase subsidy scheme. The analyst expects Nio to...
Finland's Nokia Oyj plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the unit's workforce, the group said on Monday, confirming an earlier Reuters report. The announcement has political resonance in France as Nokia bought the unit five years ago on condition it would keep jobs. Nokia, which competes with Ericsson and Huawei on lucrative 5G networks, said in a statement the staff reduction was needed because of significant cost pressures....
Republican and Democratic lawmakers are pushing for police reform, and while there is some agreement, there is also some division. WSJ’s Gerald F. Seib talks with reporter Kristina Peterson about the challenges they face to meet in the middle. Photo: Sarah Silbiger/CNP via ZUMA Wire...
(Bloomberg) -- U.S. stocks look poised to extend last week’s rally as investors bet on the strength of the economic recovery, despite rising virus infection rates.The dollar weakened, while gold neared a seven-year high. Gains across retail and health-care shares helped the Stoxx Europe 600 Index erase an early retreat. Hong Kong stocks slumped after China moved to tighten oversight of the city. Crude oil hovered below $40 a barrel in New York.Even as virus cases rise in Germany and U.S. states of Florida, California and Texas, there’s growing speculation that politicians will be unwilling to put cities back on lockdown because of the economic toll. At the same time, markets have been supported by historic stimulus programs by central banks around the world, with policymakers vowing to get growth back on track.In the U.K., Prime Minister Boris Johnson is preparing to relax social distancing rules in a major boost to...
