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  • Geely's EV unit Polestar seeks to raise around $900 million - sources

    Geely's EV unit Polestar seeks to raise around $900 million - sources

    Polestar, the electric vehicle unit of Chinese automaker Geely [GEELY.UL], is in advanced talks with investors to raise $800 million to $900 million in its first external fundraising, people familiar with the matter said. Polestar's first effort to raise funds outside of its parent company comes as the global auto industry continues investing in electric technologies after EV makers from Tesla Inc <TSLA.O> to Nio Inc <NIO.N> report sustained sales growth. The Sweden-based company is in final funding talks with Chinese investors including Beijing E-Town International Investment & Development, according to sources familiar with the matter.

  • Reuters

    JGB yields rise after weak Treasury auction spooks market

    Yields also edged higher after a Bank of Japan government debt buying operation failed to support prices in a sign that investors are nervous about holding long positions before the U.S. presidential election on Nov. 3, dealers said. Benchmark 10-year JGB futures fell 0.09 point to 151.93, with a trading volume of 17,216 lots.

  • Reuters

    FOREX-Dollar stabilises, euro near 4-week low after ECB's announcement

    The dollar paused its climb on Friday, while the euro wallowed near its four-week low against the greenback after the European Central Bank signalled further monetary easing by the end of the year. Overnight, the euro's decline in addition to U.S. data helped lift the greenback to a near four-week high against a basket of currencies. The ECB kept interest rates steady on Thursday but committed to contain the growing fallout from a second wave of coronavirus infections, saying it would hone its response by its December meeting, as widely expected by the market.