Musk embraces Trump and scorns subsidies. But Tesla still lobbies for US benefits

When Elon Musk endorsed Donald Trump for president, the Tesla founder and chief executive backed a candidate who vows to "drill, baby, drill," "end the electric vehicle mandate" and reduce subsidies of the sort that helped Tesla become the US's dominant EV manufacturer.

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Musk embraces Trump and scorns subsidies. But Tesla still lobbies for US benefits  When Elon Musk endorsed Donald Trump for president, the Tesla founder and chief executive backed a candidate who vows to "drill, baby, drill," "end the electric vehicle mandate" and reduce subsidies of the sort that helped Tesla become the US's dominant EV manufacturer.

Volatility funds lure investors as markets turn jittery  Global managed volatility funds saw their first net inflows for more than a year last month, as markets reacted to growing concerns over the economic outlook, uncertainty around monetary policy, and bubble-like valuations in the technology sector.

Natura posts better-than-expected Q2 core earnings, API hits bottom line  Brazilian cosmetic maker Natura &Co late on Monday posted better-than-expected core earnings for the second quarter, but saw its bottom line affected by write-offs as U.S. subsidiary Avon Products filed for bankruptcy protection.

Bitcoin miner Bitfarms chair Bonta to step down  Bitcoin miner Bitfarms said on Tuesday its co-founder and chair, Nicolas Bonta, will step down from the board, effective immediately.

Samsung Electronics' main South Korea union to strike over pay from Thursday  Samsung Electronics' biggest workers' union in South Korea said on Tuesday it would begin a four-day strike from Thursday to pressure the company over higher wages and bonuses after talks with management fell through in July.

Carlyle to buy Baxter's kidney-care spinoff Vantive for $3.8 billion  Buyout firm Carlyle Group struck a deal to acquire medical-device maker Baxter's kidney-care unit Vantive for $3.8 billion, the companies said on Tuesday.

US manufacturers hit by soaring property insurance costs  James Kirsh expects the cost of the property and casualty insurance for his family-owned foundry in Wisconsin to at least double when it's up for renewal this fall. He's been told it could triple.

Nuctech denies receiving Chinese state subsidies in EU probe  Chinese security firm Nuctech reiterated on Tuesday that it had not received Chinese state subsidies, after the EU General Court on Monday rejected its request to temporarily suspend the European Commission's decision to inspect the company.

Huawei readies new AI chip to challenge Nvidia in China, WSJ reports  China's Huawei Technologies is close to introducing a new chip for artificial intelligence use to challenge Nvidia in China amid U.S. sanctions, the Wall Street Journal reported on Tuesday, citing sources.

GM to recall over 21,000 US electric SUVs over braking concerns  General Motors is recalling 21,469 electric SUVs in the U.S. over concerns of an unexpected activation of the anti-lock brake system, and will remedy the issue through an over-the-air update, the National Highway Traffic Safety Administration said on Tuesday.

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