China growth hopes rest on troubled local government financing vehicles

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If the Chinese government is able to reach its economic growth target of 5.5 per cent this year, it will be due in part to retail investors such as Jane Song. In May, Song invested Rmb200,000 ($29,600) in a fixed-income wealth management product issued by a local government financing vehicle in eastern Shandong province. A … Read more

Schechter School financial officer stole $8.4M to buy luxury vehicles, five homes on Fire Island, DA says

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An official at a Williston Park private school has been indicted on grand larceny and money laundering charges for allegedly stealing $8.4 million from the school and using the money to buy luxury vehicles, five homes on Fire Island and to pay his daughter’s college tuition, the Suffolk County District Attorney’s office said. David Ostrove, … Read more

Electric vehicles are disrupting this $255 billion sector. Here are the stocks to cash in: UBS

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Demand for electric vehicles is expected to boom in the coming decades — and UBS has identified a theme for investors to cash in on that electrification. UBS said that increasing amounts of electronic content within vehicles will lead to new supply chains, as automakers increasingly work directly with semiconductor firms and new tech players. … Read more

US Postal Service to boost purchases of electric vehicles

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The U.S. Postal Service said it will substantially increase the number of electric-powered vehicles it’s buying to replace its fleet of aging delivery trucks, after the Biden administration and environmental groups said the agency’s initial plan had too few electric vehicles and fell short of the administration’s climate change goals. The Postal Service now wants … Read more

Mattel to launch SpaceX vehicles as new Matchbox toys and collectibles

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SpaceX rockets and spacecraft will soon come with a new tag: Made by Mattel. The global toy company has entered into a multi-year agreement with Elon Musk’s commercial spaceflight firm to create and market toys inspired by SpaceX’s launch vehicles (opens in new tab). The first products under the partnership will be released in 2023 … Read more