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Tesla chair Denholm sells shares worth more than $22 million By Reuters

(Reuters) - Tesla Inc chair Robyn Denholm sold more than $22 million worth of shares in the electric-car maker after exercising stock options, according to a filing with the U.S. Securities and Exchange Commission (SEC). Denholm sold 31,250 shares at weighted average prices ranging from $703 to $726.200 in transactions that took place on Aug. 2, according to the filing from Wednesday. Denholm, who joined Tesla's board as an independent director in 2014, replaced Chief Executive Officer Elon Musk as the chair in 2018, fulfilling a demand by the SEC to strip the...

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Italy vows to protect Monte Paschi jobs in UniCredit deal By Reuters

By Giuseppe Fonte and Gavin Jones ROME (Reuters) -Italian Economy Minister Daniele Franco said on Wednesday the government will take care to safeguard jobs and the local economy in the case of a takeover of struggling bank Monte dei Paschi di Siena by larger rival UniCredit. UniCredit last week agreed to enter into exclusive talks with the Treasury to buy "selected parts" of Monte dei Paschi (MPS), which is 64% state-owned after a 5.4 billion euro ($6.39 billion) bailout in 2017. Trade unions and politicians immediately expressed concern over the possible impact on jobs...

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Dollar adrift, but volatility to drive FX markets in short run: Reuters poll By Reuters

By Hari Kishan BENGALURU (Reuters) - After a recent spill, the dollar looks a bit rudderless, waiting for direction on U.S. monetary policy, according to foreign exchange strategists polled by Reuters who predicted the currency will have ceded more ground 12 months from now. Having fallen from a 15-week high set a fortnight ago, the dollar is still up over 2% for the year, although that gain is expected to be erased within 12 months. "The base presumption is...

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Dollar firms as Fed members talk of tightening By Reuters

By Wayne Cole SYDNEY (Reuters) - The dollar was poised to push higher on Thursday as hawkish comments from the U.S. Federal Reserve led markets to bring forward the likely timing of a policy tightening there, while action in Europe and Japan remain distant prospects. The euro was down at $1.1837, having recoiled from a top of $1.1899 overnight and marking another failure to crack resistance around $1.1910. The dollar also bounced to 109.51 yen, from a trough of 108.71 on Wednesday, negating what had been a bearish break on the downside. The rally came after...

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Asian stocks hold gains, dollar strong on Fed official comments By Reuters

By Alun John HONG KONG (Reuters) - Asian shares held on to recent gains in morning trading on Thursday, despite hawkish remarks from a senior official at the U.S. Federal Reserve, that boosted the dollar while weighing on risk appetite, and uncertainty about Chinese policy. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.22%, and Japan's Nikkei climbed 0.32%. Australia gained 0.18%, Chinese blue chips fell 0.28% and Hong Kong advanced 0.45%. This week the MSCI Asian regional benchmark has walked back most of the ground lost a week earlier, when a...

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U.S. automakers to say they aspire to up to 50% of EV sales by 2030 -sources By Reuters

By David Shepardson WASHINGTON (Reuters) - Detroit's Big Three automakers plan to announce on Thursday that they aspire to have 40% to 50% of new vehicle sales by 2030 be electric models as they call for billions in U.S. government assistance to meet aggressive targets, sources briefed on the matter said. The White House is planning an event on electric vehicles and fuel economy standards with President Joe Biden and chief executives from General Motors Co (NYSE:GM), Ford Motor (NYSE:F) Co and Chrysler parent Stellantis NV. The administration this week plans to propose revisions to...

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Robinhood shares surge 50%, as investors scoop up ‘the meme of memes’ By Reuters

By Sruthi Shankar, Sinéad Carew and Medha Singh (Reuters) -Shares of Robinhood Markets Inc (NASDAQ:HOOD) rose more than 50% on Wednesday during a wild trading session as investors scooped up shares after its underwhelming stock market debut last week. The online brokerage’s shares closed at $70.39, off the session high of $85 when the stock was up nearly 82%, with one analyst dubbing it "the meme of memes" in a reference to stocks popularized this year by retail investors congregating in online platforms such as Reddit's WallStreetBets. The stock has risen far above its...

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Boeing 737 MAX departs for key test flight in China By Reuters

By Eric M. Johnson and Stella Qiu SEATTLE/BEIJING (Reuters) -A Boeing (NYSE:BA) Co 737 Max jet departed for China on Wednesday to conduct a flight test as part of the U.S. planemaker's attempt to gain approval in the vital travel market following two fatal crashes, people familiar with the matter said. Flight-tracking site FlightRadar24 showed a 737 MAX 7 test plane taking off from Boeing Field near Seattle at 8:17 a.m. local time (1517 GMT) bound for John Rodgers Field outside Honolulu, the first leg of its trip across the Pacific. Boeing and China regulators have...

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Key Fed official sees rates liftoff in 2023 as policy debate heats up By Reuters

By Lindsay Dunsmuir and Ann Saphir WASHINGTON (Reuters) - Federal Reserve Vice Chair Richard Clarida, a key architect of the U.S. central bank's new policy strategy, said on Wednesday an interest rate hike was likely in 2023 given the surprising pace of the economic recovery from the coronavirus pandemic. He was joined by two other policymakers in signaling a desire to move soon to start reducing the Fed's massive bond-buying program as well, though one of them - Dallas Fed President Robert Kaplan - was clear he viewed an earlier taper of the central bank's...

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UK’s Johnson seeks more institutional investment in infrastructure By Reuters

By David Milliken LONDON (Reuters) - Prime Minister Boris Johnson urged British pension fund managers to put more of their clients' money into illiquid long-term investments in infrastructure and unlisted companies, raising the prospect of fatter management fees as a reward. Johnson, in a joint letter with finance minister Rishi Sunak, said he wanted a greater share of private-sector investment in British infrastructure and start-ups to be financed by domestic institutional investors. "It's time we recognised the quality that other countries see in the UK, and back ourselves by investing more money into the companies and...

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