Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Assets under management at Swiss private bank Julius Baer rose 12% in the first four months of 2019 to a record 427 billion Swiss francs ($425.34 billion).Earningsread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
Asia Pacific markets were mostly in negative territory on Friday morning as investors remained worried over trade tensions between the United States and China.Asia Marketsread more
Shares of Daimler dipped Monday following a report that a Chinese partner firm is building a stake in the German automaker.
Reuters reported Friday, citing three sources familiar with the matter, that China's Beijing Automotive Industry Holding Co. (BAIC) has been buying up shares in the Mercedes-Benz carmaker on the open market, with a view to consolidating a stake of around 4% to 5%. CNBC couldn't independently verify the report.
Shares of Daimler are up 20% so far in 2019, but retreated around 3% Monday amid a wider sell-off for European benchmarks.
One source, cited by Reuters, suggested that the buying this year had been underpinned by BAIC's ambition and that Monday's selling may denote that the buyer is nearly finished acquiring stock.
Building a 5% stake in Daimler at its current stock value would cost a buyer around $3.4 billion.
BAIC builds Mercedes cars in China through their joint venture, Beijing Benz Automotive. Daimler has reportedly been looking to secure a controlling interest in the alliance.
Li Shufu, the chairman of rival Chinese carmaker Zhejiang Geely, is Daimler's biggest individual stakeholder, holding nearly a 10% slice of the German firm.
After being contacted by CNBC, Daimler said it had no comment to make.