promy

  Tesla CEO Elon Musk (R) joins former U.S. President and Republican presidential candidate Donald Trump during a campaign rally at the site of his first assassination attempt in Butler, Pennsylvania, on Oct. 5, 2024. Jim Watson | Afp | Getty Images Tesla shares jumped on Monday following a report that President-elect Donald Trump’s transition team are planning to make a federal framework to regulate self-driving vehicles a top priority for the U.S. Transport Department. As of 6:11 a.m. ET, Tesla stock was up 7.98% in U.S. premarket trading after the release of the Bloomberg News report, which cited unnamed sources familiar with the matter. CNBC could not independently verify the report and has requested comment from the Trump team and from the National Highway Traffic Safety Administration, a Transportation Department unit tasked to oversee self-driving technologies. Musk was a central figure in the business world pushing for Trump’s return to the White House in the lead-up to thi...

  Republican presidential nominee and former U.S. President Donald Trump and Senator Marco Rubio (R-FL) react during a campaign event at Dorton Arena, in Raleigh, North Carolina, U.S. November 4, 2024.  Jonathan Drake | Reuters President-Elect Donald Trump’s nomination of Sen. Marco Rubio as his secretary of state, arguably the world’s most important diplomat, could change the dial when it comes to the U.S.′ relationship with both its enemies and its allies. Rubio, considered a foreign policy hawk, has been intensely critical of China and Iran, which are considered the U.S.′ top economic and geopolitical adversaries, but has also been ambivalent about ongoing support for Ukraine, echoing Trump’s stance that the war with Russia must come to an end. Serving as the vice-chair of the Senate Intelligence Committee and member of the Foreign Relations Committee, Rubio was officially tapped to be secretary of state by Trump late Wednesday as he appointed his top team for the White Hou...

  Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters BEIJING — Donald Trump’s 2024 presidential win has raised the bar for China’s fiscal stimulus plans, expected Friday. On the campaign trial, Trump threatened to impose additional  tariffs of 60% or more  on Chinese goods sold to the U.S. Increased  duties of at least 10%  under Trump’s first term as president did not dent America’s position as China’s largest trading partner. But new tariffs — potentially on a larger scale — would come at a pivotal time for China. The country is relying more on exports for growth as it battles with a real estate slump and tepid consumer spending. If Trump raises tariffs to 60%, that could reduce China’s exports by $200 billion, causing a 1 percentage point drag on GDP, Zhu Baoliang, a former chief economist at China’s economic planning agency, said at a Citigr...

  Points China’s Minister of Finance Lan Fo’an told reporters during a briefing that the central government has room for a deficit increase, but noted such policies are still under discussion. Economists have said China needs additional fiscal support, but Beijing has yet to announce any. Analyst projections for how much fiscal stimulus is needed range from around 2 trillion yuan ($283.1 billion) to more than 10 trillion yuan. Lan Fo’an, China’s finance minister, center, speaks as Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), left, and Pan Gongsheng, governor of the People’s Bank of China (PBOC), listen during a news conference on the sidelines of the National People’s Congress in Beijing, China, on Wednesday, March 6, 2024. Bloomberg | Bloomberg | Getty Images BEIJING — China’s Minister of Finance Lan Fo’an told reporters Saturday during a highly anticipated press briefing that the central government has room to increase debt and ...

  Elon Musk, CEO of Tesla. Antonio Masiello | Getty Images Tesla  shares dropped more than 8% in premarket trading in the U.S. after the electric car maker reported second-quarter earnings that missed expectations amid ongoing pressure in its auto business. Elon Musk’s electric vehicle firm reported that automotive revenue  declined 7% year on year in the June quarter to $19.9 billion  while its  adjusted earnings margin also fell . The company has been forced to slash prices globally and offer discounts and incentives amid slowing sales and rising competition, especially in China — one of its key markets. Tesla’s stock is nearly 1% lower this year to date, while the  S&P 500  has risen more than 16%. Tesla remains the top seller of electric vehicles in the U.S. by far, but is losing market share to a growing number of rivals due in part to its aging lineup of sedans and SUVs and the impact of Musk’s  incendiary  and political commen...

  watch now VIDEO 09:27 Coming months won’t be easy for euro zone inflation, ECB’s Luis de Guindos says French markets will be “upset” if the country’s new government does not adhere to the European Central Bank’s new fiscal rules, Luis de Guindos, the institution’s vice president, said on Tuesday. De Guindos told CNBC’s Annette Weisbach that last month’s French bond market moves had not been a cause for concern that would require an ECB intervention. “What we have seen so far is that the evolution of [French] markets has been quite orderly,” he said in an interview at the ECB Forum on Central Banking in Sintra, Portugal. “We have seen a little bit of widening of spreads, but the situation has been under control in that respect.” The premium on the country’s borrowing costs compared to Germany’s has recently been trading at its highest level since 2012. France’s benchmark 10- year government bond yield has risen above 3.3%, roughly a 12-month high, since the snap election...

  Former British finance minister Rishi Sunak won the most votes in the second round of voting. Leon Neal | Getty Images LONDON — After 14 years in power, the U.K.’s ruling Conservative Party looks to be standing on the brink of a momentous electoral defeat in the July 4 vote. In the last few days leading up to the election, Prime Minister Rishi Sunak has tried to put a brave face on his party’s poor showing in the polls — which point to a mammoth win for the rival Labour Party — by saying the result was not a “forgone conclusion.” While there’s bound to be a reckoning after the election, and some serious soul searching as to where things went wrong, political analysts tend to agree there was not much that Sunak could have done to repair serious damage done by previous leaders in recent years. John Curtice, one of the U.K.’s most highly-regarded polling experts, put the party’s demise down to two irreparably damaging events in recent years. “This is not an election abo...