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Elon Musk tweets photos of first Tesla Model 3 to roll off the line

First production model of Tesla Model 3 out the assembly line in Fremont, California , U.S. is seen in this undated handout photo from Tesla Motors obtained by Reuters July 10, 2017.   Tesla Motors/Handout via REUTERS

Tesla Inc (TSLA.O) Chief Executive Elon Musk on Sunday tweeted pictures of the first Model 3 sedan to roll off the assembly line. Tesla board member Ira Ehrenpreis was the first to put down a $1,000 deposit on the Model 3 and gifted the car to Musk for his 46th birthday, Musk said in a tweet. ( Musk has high ...

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Tokyo: Chief of bitcoin exchange Mt. Gox denies embezzlement as trial opens

Mark Karpeles, chief executive of defunct bitcoin exchange Mt Gox, rides in a car as he arrives at Tokyo District Court for a trial on charges of embezzlement in Tokyo, Japan, July 11, 2017.  REUTERS/Toru Hanai

The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world’s biggest bitcoin exchange. French national Mark Karpeles filed the plea in response to charges of embezzlement and data manipulation at the Tokyo District Court, ...

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Amazon wins India’s approval to invest in domestic food retail

FILE PHOTO: Employees of Amazon India are seen behind a glass bearing the company's logo inside its office in Bengaluru, India, August 14, 2015. REUTERS/Abhishek N. Chinnappa/File Photo

Online retail giant Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart. Amazon confirmed winning government approval for its plan to sell food products, but it declined to provide further details. Separately, a source familiar with ...

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U.S: Snap shares fall below $17 IPO price for first time

The front of the New York Stock Exchange (NYSE) with a Snap Inc. logo hung on the front of it stands shortly before the company's IPO in New York, U.S., March 2, 2017.  REUTERS/Lucas Jackson

Snap Inc (SNAP.N) shares slipped below their initial public offering price of $17 for the first time on Monday, signaling waning investor confidence in the social media company’s growth potential as it faces fierce competition. The stock fell as low as $16.95 in late afternoon trading before closing at $16.99 on the New York Stock Exchange, down 1.1 percent. The ...

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Asian shares rise as investors await Yellen testimony

A man holding an umbrella walks in front of an electronic stock quotation board outside a brokerage in Tokyo April 7, 2015.    REUTERS/Issei Kato/File Photo

Asian shares extended gains on Tuesday and the dollar notched a four-month high against the yen, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy. In Europe, futures for the Eurostoxx 50 and the DAX were both up 0.3 percent, while the FTSE was 0.2 percent higher. ...

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Kenya: Improved liquidity lifts T-bills uptake


The subscription rate for Treasury bills rose last week on improved liquidity in the money market, reversing a two week downward trend. The liquidity in the market had tightened in the last two weeks of June due to remittance of tax holdings by commercial banks to CBK at the end of the fiscal year, as well as dividend payments by ...

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East Africa: Safaricom goes for photo IDs to block M-Pesa fraud


Telecoms operator Safaricom’s mobile money agents will soon start using photos to identify those withdrawing or depositing money on the popular M-Pesa platform in a new push to curb fraud. Safaricom said it has distributed about 25,000 pre-programmed smartphones to its mobile money agents to be used in registration of new SIM cards. The process involves capturing faces of SIM card ...

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S. Africa rating firm drops deal with Kenyan insurer


South African agency, Global Credit Ratings (GCR), has announced it will no longer offer a rating for Saham Assurance Company Kenya, saying the withdrawal has been made at the behest of the insurer. GCR’s final rating for Saham saw it affirm a claims paying ability rating of A-, with a negative outlook based on the assurance firm’s continued underwriting losses. “The ...

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Kenya: Uhuru woos cereal, livestock farmers with Sh1.5 bn loan waiver


The government has waived a Sh1.5 billion loan owed by wheat, sorghum and livestock farmers in Kajiado, Narok and Baringo counties to the State’s agricultural credit institution. In a statement sent to newsrooms on Monday, State House spokesman Manoah Esipisu said the waiver of a loan owed to the Agricultural Finance Corporation (AFC) is part of government move to ease ...

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Nigeria:Peace at risk in oil heartlands


The Nigerian government’s efforts to secure peace in the oil heartlands of the Niger Delta are empty promises, community leaders say, threatening a return to violence that would derail any broader recovery in the crude-dependent economy. With Africa’s biggest economy mired in recession, delegations including Acting President Yemi Osinbajo have held talks since February with community leaders in the restive ...

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