PepsiCo Inc. will get its first set of Tesla Inc. electric trucks in the fourth quarter, the packaged food maker’s top boss Ramon Laguarta said in an interview with CNBC on Monday. The maker of Mountain Dew soda and Doritos chips in December 2017 reserved 100 of Tesla’s electric semi trucks as it sought to…
PepsiCo to Take Delivery of Tesla Electric Trucks in Fourth Quarter: CNBC
Disney Offers Streaming Service Discount for a Month to Boost Subscribers
November 8, 2021
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Walt Disney Co. said on Monday it was offering a month of Disney+ for $1.99 for a limited period, as the entertainment giant seeks to stem a slowdown in paid user growth at its streaming service. The promotion will begin on Nov. 8 and will be valid for a week through Nov. 14 for new…
Poor Report Cards Likely at China’s Big Tech After Regulatory Clampdown
November 8, 2021
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SHANGHAI—China’s biggest listed companies Tencent and Alibaba are expected to report a fall in profits and slowing revenue growth in the July–September quarter, hurt by the year-long regulatory clampdown that has upended its tech industry. Beijing has reasserted control over its once-freewheeling Internet sector, punishing well-known names for engaging in what were previously considered regular…
Crypto Rally Sends Ethereum to New High, Bitcoin Near Record Price, Ahead of Inflation Data
Cryptocurrencies started the week off on a solid footing, with Ethereum vaulting on Nov. 8 to a new record high and Bitcoin trading close to its all-time high, ahead of a closely-watched inflation data release later in the week. Ethereum was trading at $4,730.38 on Coinbase at 7:31 a.m. New York time, after a sharp…
EU Ministers to Discuss Inflation Surge, EU Budget Rule Reform
November 8, 2021
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BRUSSELS—European Union finance ministers will on Monday discuss a surge in consumer prices, its impact on wages, and changes they would like made to the bloc’s budget rules to support investment and reduce debt. Inflation rose 4.1 percent year-on-year last month in the 19 countries sharing the euro, up from 3.4 percent in September. Ministers…
Futures Tick Higher After Congress Clears Infrastructure Bill; Tesla Falls
November 8, 2021
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U.S. stock index futures edged higher on Monday as big industrial firms were supported by the passage of a $1 trillion infrastructure bill, while Tesla fell on Chief Executive Elon Musk’s plan to sell about a tenth of his stake. Caterpillar Inc., Boeing Co., and 3M Co. rose between 0.5 percent and 3 percent in…
Dow Hits Record High as Infrastructure Bill Lifts Cyclicals
November 8, 2021
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The Dow hit a record high on Monday as the passage of a $1 trillion infrastructure bill lifted industrials, materials, and other economy-focused sectors, while Tesla fell on top boss Elon Musk’s plan to sell about a tenth of his stake. Five of the 11 major S&P 500 sector indexes were higher after the Congress…
SoftBank Group to Buy Back Up to 14.6 Percent of Shares
November 8, 2021
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TOKYO—SoftBank Group Corp. said on Monday it would buy back up to one trillion yen ($8.82 billion) of its own shares, or 14.6 percent of outstanding stock. The plan comes after the Japanese conglomerate completed a record 2.5 trillion yen buyback in May. ($1 = 113.3500 yen)
Tesla Sold 54,391 China-Made Vehicles in October: CPCA
November 8, 2021
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BEIJING—U.S. electric vehicle maker Tesla Inc. sold 54,391 China-made vehicles in October, including 40,666 for export, the China Passenger Car Association (CPCA) said on Monday. Tesla, which is making Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 56,006 China-made vehicles in September, including 3,853 that were exported. Chinese EV makers Nio Inc….
Japan’s SoftBank Sinks Into Losses Over China Investments
November 8, 2021
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TOKYO—SoftBank Group Corp. sank into red ink for the July-September period, dragged down by losses on its investments in China, the Japanese technology conglomerate said Monday. SoftBank reported a 397.9 billion yen ($3.5 billion) loss for the fiscal second quarter, compared to a 627 billion yen profit recorded the same period the previous year. Quarterly…
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