From Tesla to Europe
Former Tesla executive Peter Carlsson is trying to raise at least $4 billion to build Europe’s biggest battery factory for electric cars in Sweden. Carlsson believes European carmakers’ push into electric propulsion implies demand for batteries that far exceeds anything so far.
Less oil is the answer for Saudi Arabia
Burning less crude at home means Saudi Arabia, the world’s top oil exporter, may not need to push its oil output to a record high. It may also make the sale of a 5 percent stake in Saudi Aramco more attractive to investors.
Snap shares took a dive today, with traders racing to position themselves to cash in on further losses after analysts gave the company a lukewarm reception following its red-hot market debut.