Wednesday, January 20, 2021

Dow futures rise 100 points after Wall Street’s losing week

Dow futures rise 100 points after Wall Street's losing week
Traders on floor of the New York Stock Exchange. Source: New York Stock Exchange U.S. stock futures moved higher on Monday evening as Wall Street looked to bounce back from a rough week ahead of President-elect Joe Biden's inauguration. Futures contracts tied to the Dow Jones Industrial...

World’s fourth-largest carmaker rallies on first day of trade after $52 billion merger

World’s fourth-largest carmaker rallies on first day of trade after $52 billion merger
Flag with the Stellantis logo on the front entrance to FCA's Mirafiori plant on January 18, 2021 in Turin, Italy. Stefano Guidi | Getty Images LONDON — Stellantis, the product of the $52 billion merger between Fiat Chrysler Automobiles and Peugeot, was well received by European...

Tesla delivers its first Shanghai-made Model Y crossovers in China

Tesla delivers its first Shanghai-made Model Y crossovers in China
Tesla CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai on Jan. 7. Aly Song | Reuters Tesla has reportedly started delivering locally-produced Model Y crossovers in China, marking another milestone for the electric carmaker in the world's largest...

U.S., European officials condemn arrest of poisoned Putin critic Alexei Navalny, as calls grow for his immediate release

U.S., European officials condemn arrest of poisoned Putin critic Alexei Navalny, as calls grow for his immediate release
Russian opposition leader Alexei Navalny and his wife Yulia are seen at the passport control point at Moscow's Sheremetyevo airport on January 17, 2021. KIRILL KUDRYAVTSEV | AFP | Getty Images LONDON — The U.S. and several European governments have expressed deep concern following the arrest...

In challenge to Tesla, Chinese electric carmaker Xpeng releases autonomous features for highway driving

Chinese electric car start-up Xpeng gets $2 billion in credit from state-owned banks
Xpeng CEO He Xiaopeng stands next to the company's P7 electric sedan as he addresses media at the 2020 Beijing auto show. Evelyn Cheng | CNBC GUANGZHOU, China — Chinese electric carmaker Xpeng Motors has announced a new autonomous driving feature denews24nationed to work on highways,...

China says its economy grew 2.3% in 2020, but consumer spending fell

China says its economy grew 2.3% in 2020, but consumer spending fell
Employees working on a dry-type transformer production line at an electrical production factory in Haian, in eastern China's Jiangsu province on Jan. 4, 2021. Stringer | AFP | Getty Images BEIJING — China reported GDP rose 2.3% last year as the world struggled to contain the...

Biden will take executive action to roll back Trump era after inauguration speech that stresses unity

Biden will take executive action to roll back Trump era after inauguration speech that stresses unity
This combination of pictures created on January 15, 2021 shows US President Donald Trump at the White House in Washington, DC, on July 29, 2020 and Democratic presidential nominee and former Vice President Joe Biden in Dallas, Pennsylvania, on October 24, 2020. Getty Images President-elect Joe...

Peter Thiel-backed psychedelics start-up targets schizophrenia ahead of IPO

Peter Thiel-backed psychedelics start-up targets schizophrenia ahead of IPO
LONDON — ATAI Life Science, a Peter Thiel-backed start-up, has taken a majority stake in Recognify, a company that is developing drugs to help treat schizophrenia. Headquartered in Berlin, ATAI is aiming to make psychedelic drugs that can be used to treat mental health disorders....

Parler’s de-platforming shows the exceptional power of cloud providers like Amazon

Parler's de-platforming shows the exceptional power of cloud providers like Amazon
Andy Jassy, CEO of Amazon Web Services. CNBC Getting kicked off Amazon Web Services is rare, but it has enormous consequences. It happened this week, when Amazon dropped Parler, a social network that gained traction from conservatives after Twitter banned President Donald Trump and housed content that...