Volkswagen’s $5 bln investment in Rivian boosts EV maker’s shares

German automaker Volkswagen Group (VOWG_p.DE), will invest up to $5 billion in U.S. electric-vehicle maker Rivian (RIVN.O),  as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday. Shares of Rivian surged about 50% in extended trade after the announcement, potentially supercharging the company’s market value by nearly $6 […]

Record high prices, rising mortgage rates depress US home sales

U.S. existing home sales fell for a third straight month in May as record-high prices and a resurgence in mortgage rates sidelined potential buyers from the market. There was, however, some encouraging news on the housing market, with the National Association of Realtors reporting on Friday that housing inventory jumped last month to the highest […]

ECB pays attention to good functioning of markets, Lagarde says, after France spooks investors

 The European Central Bank pays close attention to the smooth functioning of financial markets, ECB President Christine Lagarde said on Monday, after French President Emmanuel Macron’s call for a snap parliamentary vote last week spooked investors. Investors were demanding a 77-basis-point premium for lending to AA-rated France over triple-A Germany for 10 years in Monday […]