The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Here's how Amazon sells ads, and why it has a natural edge over Google and Facebook in some areas.Technologyread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Federal Judge William Pauley wrote in a court filing made public Wednesday that materials related to Cohen's campaign-finance probe should be unsealed — and denied a request...Politicsread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
Facebook's head of Calibra David Marcus is grilled during a House Financial Services Committee hearing over the company's digital currency plans.Technologyread more
Gov. Phil Murphy of New Jersey announced a lawsuit against the IRS and Treasury Secretary Steven Mnuchin, responding to new, final rules from the IRS that would largely block...Personal Financeread more
* Tesla is top-selling car brand in Norway this year
* Brands without electric offering see sales drop
* Norway aims to end combustion engine sales by 2025
OSLO, July 1 (Reuters) - Almost half of new cars sold in Norway in the first six months of 2019 were powered by fully electric engines, up from just over a quarter in the same period last year, ensuring the Nordic nation retains its top global ranking in electric vehicle sales.
Tesla's Model 3 was Norway's top-selling vehicle, the Norwegian Road Federation (NRF) said when announcing the latest sales data on Monday.
In total, 48.4% of all new cars sold from January to June were electric, surpassing the 31.2% seen for the full year 2018, and making oil-producing Norway the global leader in per-capita electric car sales by a wide margin.
Seeking to end the sale of diesel and petrol engines by the middle of the next decade, Norway exempts battery-driven cars from the heavy taxes imposed on vehicles powered by fossil fuel. It also offers benefits such as discounts on road tolls.
The policy has boosted brands such as Tesla, Nissan , Hyundai and BMW, which all offer fully electric vehicles, rather than hybrids that use electric motors to drive the car but also have a combustion engine.
Brands without fully electric offerings, such as Ford and Daimler's Mercedes-Benz, have seen sales drop, although Ford and Mercedes are among several auto makers that have promised to offer electric cars in Norway from 2020.
California-based Tesla sold 3,760 vehicles in Norway in June, for a 24.5% share of all cars during the month, and was also the top-selling brand for the first six months.
Most of its sales were of the mid-sized Model 3, while the bigger Model S and Model X have seen lower year-on-year volumes.
The International Energy Agency (IEA), which includes the more widely-sold plug-in hybrids when counting electric cars, measured Norway's share at 39% of sales in 2017, far ahead of second-placed Iceland on 12% and Sweden on 6%. (Reporting by Terje Solsvik and Gwladys Fouche Editing by Edmund Blair)