Chinese electric vehicle maker Xpeng remains committed to Europe for the long term despite pressure it faces from the European Union’s tariffs, according to a top company official.”Our plan for Europe is a very long term one,” Brian Gu, Xpeng’s vice chairman and co-president, told CNBC’s Charlotte Reed Monday at the Paris Motor Show.Reflecting on the EU’s decision to adopt higher tariffs on Chinese EV imports, Gu said that this has put “a lot of pressure” on its business model.However, he added that the firm has a “long-term focus” in the continent and is aiming to “find every possible way…
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A man with Dior paper bag in Manhattan, New York City, United States of America on July 15th, 2024. Beata Zawrzel | Nurphoto | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayDow breaks 43,000 level On Monday, the S&P 500 advanced 0.77% and the Dow Jones Industrial Average climbed 0.47%. Both indexes closed at fresh highs, with the Dow closing above 43,000 for the first time.…
David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.Adam Galici | CNBCGoldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday.Here’s what Wall Street expects:Earnings: $6.89 per share, according to LSEGRevenue: $11.8 billion, according to LSEGTrading Revenue: Fixed Income of $2.91 billion, Equities of $2.96 billion, per StreetAccountInvesting Banking Revenue: $1.62 billion, per StreetAccountAsset & Wealth Management: $3.58 billion, per StreetAccountHow much will falling interest rates help Goldman Sachs?Over the past two years, the Federal Reserve’s tightening campaign has made…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market milestones: The S & P 500 and the Dow on Monday were headed for back-to-back record high closes. The Nasdaq , which has been slower to recover from its Aug. 5 lows, was less than 1% away from eclipsing its last record close on July 10. All three stock benchmarks were riding five-week winning streaks coming into Monday. Tech stocks were leading the way followed by utilities with data center…
A man wearing a mask walks past a Nvidia logo in Taipei, Taiwan.Sopa Images | Lightrocket | Getty ImagesAsian chip stocks rose on Tuesday after Nvidia closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave.Stocks tied to Nvidia suppliers and other chip companies rallied in Asia as the bullish investors sentiment spilled over. Shares of South Korean chipmaker SK Hynix, which manufacturers high bandwidth memory chips for AI applications, for Nvidia surged 2.5%.Samsung Electronics, which is expected to be manufacturing HBM chips for some Nvidia products, saw its shares rose 0.5%.Shares…
Morsa Images | Digitalvision | Getty ImagesMedicare open enrollment for 2025 is set to begin on Tuesday.Beneficiaries have from Oct. 15 until Dec. 7 to evaluate their Medicare coverage options and select new plans for next year.Experts say it’s an important opportunity retirees should not ignore.However, just 30% of people on Medicare review their options every year, according to research from KFF, a provider of health policy research.”Every year, it makes sense to compare coverage options, because people’s needs change from one year to the next, and also plans make changes,” said Tricia Neuman, executive director for the program on…
The Logo of Hyundai Motor India Limited is seen on a parked car in the company’s stockyard, in the outskirts of Ahmedabad, India, October 8, 2024.Amit Dave | ReutersHyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday, as the carmaker launched a $3.3 billion IPO that will be the country’s largest share offering yet.The Government of Singapore and BlackRock together picked up stakes worth a total of $77.3 million, while Fidelity bought shares worth $76.5 million. Domestic mutual funds were allocated shares worth a total $340 million.The IPO shows continued enthusiasm for India’s capital markets, with 260 companies having raised more than $9 billion so far in 2024, according to LSEG data. The year-to-date volume has…
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.When you open a new credit card account, most issuers will assign you a credit limit. This line of credit can be anywhere from $200 to tens of thousands of dollars, and in most cases, you can’t spend more than your limit. You can qualify for a higher limit with almost any credit card as long as you have a good or excellent credit score and a stable income, but some high-limit cards offer a minimum cap of $5,000 or more.Below, CNBC Select looks at how you can get a high-limit credit card,…
Crowded beaches. Expensive rent. Tourist sites with wall-to-wall people.When it comes to overtourism, don’t blame the travelers, said Randy Durband, CEO of the Global Sustainable Tourism Council.Rather, it’s “lack of management,” he told “Squawk Box Asia” Monday. “I’ve been in travel and tourism for 40 years, working on committees and trade associations in Europe, North America and Asia,” he said. “Governments around the world traditionally just didn’t think they had a role in managing.”From marketing to managingDestination marketing organizations “must change the ‘M’ in DMO from marketing to management,” Durband told CNBC before the interview.He added that this shift has…
Tokyo Metro’s logo is pictured at Kasumigaseki station in Tokyo, Japan, Aug. 15, 2024.Miho Uranaka | ReutersTokyo Metro is expected to raise 348.6 billion yen ($2.3 billion) after pricing its initial public offering at the top end of its range, according to two sources familiar with the matter, in the largest IPO in Japan for six years.The company has priced the shares at 1,200 yen apiece, compared to a range of 1,100 to 1,200 yen, said the sources, who declined to be named as the information is not public.Tokyo Metro declined to comment.One of Tokyo’s two major subway operators, the company is set to announce…
