Canadian national pleads guilty to stealing Tesla trade secrets
A Canadian resident of China pleaded guilty in New York federal court on Thursday to stealing Tesla (NASDAQ:TSLA) electric-vehicle battery manufacturing trade secrets and conspiring to sell them to undercover government agents, according to the U.S. Department of Justice (DOJ). Klaus Pflugbeil, 58, the operator of a China-based business that sells technology used in electric […]
Morning Bid: Wall St eyes election-strewn June, jobs week
June kicks off with a series of big election results around the world – with big landslides unfolding for favoured candidates in Mexico and India – while Wall Street has perked up in a key week for the U.S. labour market. The peso was slightly unnerved by the sheer scale of Claudia Sheinbaum’s win in Mexico’s presidential election, slipping […]
Fitch pushes back China rate cut expectations to next year as Fed holds interest rates steady
BEIJING — Ratings agency Fitch no longer expects China to cut its policy rate this year, and has pushed back its expectations for a reduction to next year as the U.S. Federal Reserve keeps its interest rates high. Fitch now forecasts China will keep its one-year medium-term lending facility (MLF) unchanged this year at 2.5%, […]