Tesla’s big Model 3 bet rides on risky assembly line strategy
April 24 Tesla Inc Chief Executive Elon Musk took many risks with the technology in his company's cars on the way to surpassing Ford Motor Co's market value.
By Bruno Federowski SAO PAULO, Nov 21 The Brazilian real strengthened on Monday as an emerging market selloff triggered by U.S. President-elect Donald Trump's unexpected victory lost more steam. The real firmed 0.9 percent, extending gains to 2.5 percent in four sessions after touching a five-month low on Nov. 14. Other Latin American currencies, such as the Mexican peso , also rose. The rebound allowed Brazil's central bank to reduce its currency intervention following two weeks of heavy action. Seeking to curb volatility, the bank had offered new traditional currency swaps, which function like selling dollars to investors for future delivery, nearly every day since Nov. 11. The bank has not announced any such auction for Monday, but it will offer swaps to roll over contracts maturing next month. The National Treasury also refrained from announcing a bond repurchase auction for this session after doing so for the last three trading days. Nevertheless, global risk appetite drove down local bond and rate future <0#2DIJ:> yields. In a statement, the Treasury said it would keep monitoring market conditions, "seeking to guarantee bond markets will function properly." Brazil's benchmark Bovespa stock index rose 1 percent, supported by a gain in shares of state-controlled lender Banco do Brasil SA. The bank said late on Sunday that it would close 402 branches, downsize another 379 and give early retirement to employees to save up to 3.05 billion reais ($908 million). Shares of miners and steelmakers, such as Gerdau SA and Cia Siderúrgica Nacional SA also extended their recent rally on hopes that Trump's plans of heavy infrastructure spending could support prices of industrial metals. Key Latin American stock indexes and currencies at 1300 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 848.00 0.41 6.35 MSCI LatAm 2295.57 1.27 23.88 Brazil Bovespa 60665.52 1.17 39.94 Mexico IPC 44364.17 -1.24 3.23 Chile IPSA 4473.35 6.87 21.55 Chile IGPA 22165.17 5.87 22.11 Venezuela IBC 26394.87 -0.1 80.93 Currencies daily % YTD % change change Latest Brazil real 3.3542 0.90 17.67 Mexico peso 20.4845 0.71 -15.89 Chile peso 676.1 0.35 4.97 Colombia peso 3156.54 0.78 0.40 Peru sol 3.404 0.00 0.29 Argentina peso (interbank) 15.4700 0.10 -16.08 Argentina peso (parallel) 15.8 -0.76 -9.68 ($1 = 3.3574 reais) (Reporting by Bruno Federowski; Editing by Daniel Flynn and Lisa Von Ahn)
* Thousands of "zama zamas" mine gold illegally in South Africa
April 24 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.