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Market news: Disaster officials say heavy rains and storms in Afghanistan and Pakistan have killed 45 people.On March 30, Bright Smart Securities & Financial Holdings Limited (01428.HK) announced on the Hong Kong Stock Exchange that the offeror and the company announced that the completion of the share purchase agreement was finalized on March 30, 2026, in accordance with the terms and conditions of the agreement. Under the share purchase agreement, the offeror acquired the sale shares (i.e., 857,980,000 shares, representing approximately 50.55% of the total issued shares as of the date of this announcement and all of the sellers shareholding in the company immediately prior to completion) from the seller for a total cash consideration of HK$2,814,174,400. Upon completion, the offeror is required to make an unconditional mandatory cash offer for all issued shares (excluding shares already owned or agreed to be acquired by the offeror and its parties acting in concert).On March 30, in response to concerns raised by Europe and other countries regarding rising fuel prices and increased shipping costs in the Gulf, Iranian Foreign Ministry spokesman Baghae stated that Iran is not responsible for the current situation and does not want people in other countries to suffer pressure due to rising fuel or food prices. Baghae also stated that Iran is currently managing the passage of vessels that are not hostile, while ensuring security. In the past few days, some vessels have passed through the Strait of Hormuz after coordinating with relevant Iranian authorities.March 30th - Germanys inflation accelerated significantly in March, according to the German Federal Statistical Office on Monday, following the surge in energy costs caused by the conflict with Iran. This reinforces expectations that the European Central Bank (ECB) may need to raise interest rates. Germanys harmonized CPI rose 2.8% year-on-year in March, up from 2% in February, reaching its highest level in over a year. Regional reports showed that heating oil and fuel were the main drivers. As the Middle East conflict enters its fifth week, the impact of rising oil and gas costs is gradually being reflected in European prices and consumer expectations for the inflation outlook. Although ECB President Christine Lagarde pledged to act swiftly and decisively if necessary, officials indicated that they would not rush into action after assessing the full impact. Money markets expect a rapid policy response and favor raising interest rates at the April meeting, with up to three rate hikes possible throughout the year.The Russian Federal Security Service (FSB) has discovered stockpiles of chemical and biological weapons in parts of Donetsk liberated from the Ukrainian armed forces.

Tesla discloses efforts to advocate for a facility in Canada

Aria Thomas

Aug 10, 2022 10:43

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Tesla (NASDAQ:TSLA) Inc is pressing the Ontario government to create an "advanced manufacturing factory" in Canada, according to a document with the province's Office of the Integrity Commissioner.


According to the company's July 18 filing, its Canadian business is engaging with the government to "examine opportunities for industrial facility permitting enhancements."


Tesla and the ministry of economic development, job creation, and trade in Ontario did not immediately respond to requests for comment.


In May, the Canadian Minister of Industry, Francois-Philippe Champagne, announced that "very active negotiations with a number of stakeholders" were taking place in order to construct an EV supply chain in Canada.


Elon Musk, CEO of Tesla, joked to shareholders last week, "We've got a lot of Canadas, I'm half Canadian, maybe I should" in reference to the company's expanding output.


According to him, the company "may be able" to announce a new facility by the end of the year, and in the future, it may have ten to twelve gigafactories. Two of Tesla's production sites are located in the United States, while one each is located in Germany and China.


By sourcing components and producing vehicles closer to home, electric-vehicle makers in the United States are aiming to diversify their supply chains and lessen their reliance on China, the world's largest supplier of EV batteries.


Such efforts might be boosted by a $430 billion bill passed by the U.S. Senate on Sunday, which restricts automakers' use of Chinese-made parts by progressively increasing the percentage of battery components imported from North America.


After 2023, vehicles with batteries containing Chinese components may no longer be eligible for the credit, and restrictions may be placed on the supply of critical minerals.