FRANKFURT, Oct 25 (Reuters) - Tesla's Model 3 topped European car sales in September, marking the first time an electric vehicle has done so in monthly charts, research group JATO Dynamics said on Monday.At 24,591 cars registered, Tesla's Model 3 recorded year-on-year growth of 58%, followed by Renault's (RENA.PA) Clio, Dacia's Sandero and Volkswagen's (VOWG_p.DE) Golf model, JATO said.In the...Read More

The quickest way to get the government to sign off on something is to present it as a profitable opportunity. Such is the case with cannabis, the long-stigmatized plant that has proven to be far less dangerous than the prohibition of it.It's no secret that the war on drugs has been a massive failure. Yet even today, with nearly every state in the U.S. having some kind of cannabis legalization on...Read More

ZURICH (Reuters) -UBS Group has agreed to sell its Spanish wealth management business to Madrid-based Singular Bank, the Swiss bank said on Monday, its second exit from a European market in the past 12 months.UBS said it was selling UBS Gestion to Singular for an undisclosed sum. German newspaper Handelsblatt said Singular Bank will pay UBS between 200 million and 250 million euros ($291 million)...Read More

Oct 25 (Reuters) - Thrasio Holdings Inc, which acquires third-party sellers on Amazon.com Inc, said on Monday it had raised $1 billion in a funding round led by private equity firm Silver Lake. (Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has mad...Read More

Very few things are as uniquely frustrating as a bottleneck. Traffic, endless lines at the DMV, and slow service at a restaurant are just a few examples that come to mind. It's not just the slow service that gets me - it's the inefficiency of the system itself. The wide-open roads that flow at a comfortable highway speed only make the inevitable slowdown worse by comparison. Whether it's a poorl...Read More

Oct 25 (Reuters) - Industrial and Commercial Bank of China plans to provide 3 trillion yuan ($470 billion) of financing for the energy sector over the next five years, the country's National Energy Administration (NEA) said on Monday.A strategic cooperation agreement signed by the two entities is partly aimed at helping ensure energy and power supplies in winter and spring, the NEA said in a brief...Read More

Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More

Oct 25 (Reuters) - Sustainable footwear maker Allbirds Inc on Monday set terms for its initial public offering in the United States, saying it is targeting a fully diluted valuation of as much as $2.2 billion. (Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc....Read More

Insteel Industries credited better margins and strong demand for ending its fiscal 2021 with the best earnings in its history, posting net earnings for its fourth fiscal quarter - ended October 2 - of $25.15 million, up by 238.70% from $7.43 million in the same period a year ago.Sales increased to $171.26 million, up 23.89% from $138.23 million in the fourth quarter of the previous year. The...Read More

(Adds details on 2022, quotes)MADRID, Oct 25 (Reuters) - Relatively high inflation rates are likely to prevail in Spain over coming months although their underlying causes are mainly transitory, Bank of Spain Governor Pablo Hernandez de Cos said on Monday.A surge in energy prices could last through the winter as demand generally increases because of cold weather while oil and gas storage levels ar...Read More

BENGALURU (Reuters) -Indian shares ended mostly unchanged on Monday as losses in auto and information technology stocks were offset by gains in banks, after strong results from ICICI Bank drove other lenders higher.The blue-chip NSE Nifty 50 index ended up 0.06% at 18,125.40, while the benchmark S&P BSE Sensex rose 0.2% to 60,967.05.ICICI Bank rose as much as 14.2% to an all-time high and helped t...Read More

Export prices for reinforcing bar and wire rod originating from the Commonwealth of Independent States surged in the week to Monday October 25, supported by positive market conditions.Firstly, prices from competitive Turkish suppliers increased over the week, supported by growing import scrap and electricity costs in the country.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar...Read More

SHANGHAI, Oct 25 (Reuters) - Corporate China's hedging activities spiked to a new high, according to consultancy data, as the cost of raw materials soared and as China's financial regulators urged local businesses to cope with higher market volatility.The number of China-listed non-financial companies using hedging tools such as futures and options to limit market risks rose to 793 at the end of t...Read More

Here are five Fastmarkets stories you might have missed on Monday October 25 that are worth another look.Import prices for rebar in Singapore continued to rise in the week to October 25 amid a surging ferrous scrap market upstream.A combination of hurdles to a recovery...Read More

(Reuters) - Car rental firm Hertz has ordered 100,000 Tesla Inc cars, Bloomberg News reported on Monday, citing people with knowledge of the matter.This marks the single-largest purchase ever for electric vehicles and represents about $4.2 billion of revenue for Tesla, according to the report.Hertz and Tesla did not immediately respond to Reuters requests for comment.Hertz filed for bankruptcy pro...Read More

Oct 25 (Reuters) - Online content and gaming platform FaZe Clan Inc said on Monday it would go public through a merger with a blank-check firm in a deal that values the combined company at about $1 billion.Offerings from FaZe Clan, which was launched in 2010, include online gaming, esports, sports merchandise and digital content that targets millennial and Gen Z consumers. The company said it curr...Read More

Turkish steel mills continued to pay higher prices for deep-sea scrap, with news of a deal for US scrap from Friday pushing up prices on Monday October 25, market participants told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (80:20) at $510 per tonne and shredded at $530 per tonne cfr late on Friday October 22. The cargo composition,...Read More

DUBAI, Oct 25 (Reuters) - Credit ratings agency Fitch Ratings indicated on Monday it could cut the ratings of three banks in Qatar, saying it was concerned over the sector's increasing reliance on external funding and a recent rapid growth in assets.Fitch placed Doha Bank, Al Khalij Commercial Bank and Qatar Islamic Bank on "ratings watch negative", meaning it sees a greater potential for a downgr...Read More

Fastmarkets has amended the publication time of its India HMS steel scrap price assessment after a one-month consultation period.After a one-month consultation period, Fastmarkets has amended the publication time for the weekly price assessment for steel scrap HMS 1&2 (80:20 mix) import, cfr Nhava Sheva, India, $/tonne from 4:30pm London time to 4:00pm London time, to better align with the publish...Read More

(Reuters) - Sustainable footwear maker Allbirds Inc said on Monday it was targeting a fully diluted valuation of as much as $2.2 billion in its initial public offering in the United States.The company, backed by asset manager Franklin Templeton, said it is offering 19.2 million shares priced between $12 and $14 each, along with the selling stockholders. At the top end of that range, the IPO would...Read More