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A little-known California startup with ambitions to challenge Tesla in the electric vehicle market unveiled plans Thursday for a $1 billion (roughly Rs. 6,678 crores) manufacturing plant.

Diplomatic ties between the United States and Cuba were restored almost a year ago, on December 17.

CITIC Securities Co Ltd, China’s biggest brokerage, said on December 6 it wasn’t able to contact two of its top executives following media reports that they had been asked by authorities to assist in an investigation.

The letter, obtained by The Associated Press, is signed by Jia Yueting, a Chinese billionaire investor who styles himself after Apple’s late Steve Jobs and signed the letter in his capacity as founder and CEO of the holding company LeTV.

Soaring output from OPEC member Iraq has been a large contributor to that overhang, with production there doubling over the past decade to around 4.3 million barrels per day, more than enough to meet all of India’s daily demand.

In the minutes of its meeting this month, the Monetary Policy Committee (MPC) weighed “robust growth” in domestic spending against weak overseas demand, and said eight of the nine panel members voted to leave the benchmark at 0.5 per cent this month.

Regarding the latest decision on interest rates, senior economist at Julius Baer David Meier said: “At yesterday’s December meeting the BoE’s Monetary Policy Committee (MPC) was not in the mood to rattle markets out of their comfort zone before the holiday...

The cartel said it is expecting a sharp fall in crude supply from non-OPEC states in 2016, sticking to the strategy of defending its market share.

Reserve Bank of India governor Raghuram Rajan on Friday primed the markets for a quarter of a percentage point rate hike by the US Fed next week – a move that is expected to cause ripples across the world, including India. “Our expectation is that the US Fed is nearly...

On Friday, Russian’s deputy finance minister issued a stark warning of United States dollars 40-USD 60 oil “for the next seven years”, Reuters reported.

In what one analyst called the “deal of three centuries”, Dow Chemical and DuPont said Friday they are merging to create the world’s largest chemical company worth $130 billion.

On the New York Stock Exchange, Dow members Chevron and ExxonMobil lost 3.2 per cent and 1.8 per cent, respectively, and Schlumberger fell 2.3 per cent.

Media reports suggest that advanced talks are in progress that will lead to the newly formed company immediately being split into three individual companies: agriculture, specialty chemicals and materials.

Many investors have called on the Bank to start “normalising” monetary policy to wean borrowers off super-cheap credit as the economy recovers, and to reward savers who have suffered seven years of paltry returns.

Terms of the agreement state that Dow shareholders will get 1 share of the new enterprise for each Dow share they own, while DuPont shareholders will get 1.28 shares.