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Billionaire Musk’s net worth zooms past Warren Buffett’s – Bloomberg News – Reuters

Elon Musk’s net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc became the seventh richest person in the world, according to the Bloomberg Billionaires Index.

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(Reuters) – Elon Musk’s net worth soared past Warren Buffett on Friday as the chief executive officer of Tesla Inc (TSLA.O) became the seventh richest person in the world, according to the Bloomberg Billionaires Index.
Musk’s fortune rose by $6.07 billion on Friday, Bloomberg News said, following a 10.8% jump in the electric carmaker’s stock.
Buffett’s net worth dropped earlier this week when he donated $2.9 billion in Berkshire Hathaway (BRKa.N) stock to charity, the report added.
Tesla’s shares have surged 500% over the past year as the company increased sales of its Model 3 sedan.
The blistering rally also puts Musk in reach of a payday potentially worth $1.8 billion, his second jackpot from the electric car maker in about two months.
The stock is up about 38% since the close on July 1, a day before the company reported its quarterly delivery numbers.
Tesla’s solid delivery numbers heightened expectations of a profitable second quarter, which would mark the first time in its history that it would report four consecutive quarters of profit.
Reporting by Shubham Kalia in Bengaluru; Editing by Raju Gopalakrishnan

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Coronavirus: European stocks dip on rising infections and UK quarantine rules – Yahoo Finance

Travel stocks slid most, with worse-than-expected factory data in China and the US stand-off over fiscal stimulus adding to gloomy sentiment.

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European stocks dipped on Friday, amid concerns over rising coronavirus cases in several countries and new coronavirus restrictions on travel between France and Britain.
Worries over worse-than-expected factory and retail data in China and the continued deadlock over new fiscal stimulus in the US also weighed on sentiment.
Britains FTSE 100 (^FTSE) was down 2.3% in morning trading, Frances CAC 40 (^FCHI) down 2.2% and Germanys DAX (^GDAXI) 1.3% lower.
The pan-European Stoxx 600 (^STOXX) fell …

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China’s retail sales unexpectedly fall as consumer caution prevails – Fox Business

The reports raised concerns about the fragility of China’s emergence from coronavirus

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China’s retail sales slipped in July, dashing expectations for a modest rise, as consumers in the world’s second-largest economy failed to shake off wariness about the coronavirus, while the recovery in the factory sector struggled to gain momentum.
Asian markets pulled back on Friday following the disappointing set of economic indicators, which raised concerns about the fragility of China’s emergence from coronavirus.
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China’s recovery had been gath…

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Uber and Lyft Lose Bid to Keep Exploiting Their Drivers for Just a Little Bit Longer – Gizmodo

On Thursday, a California judge denied motions by Uber and Lyft to delay a previous injunction ordering the ridesharing companies to reclassify their contractors as full-time employees. That ruling goes into effect on August 20, to which the companies had req…

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On Thursday, a California judge denied motions by Uber and Lyft to delay a previous injunction ordering the ridesharing companies to reclassify their contractors as full-time employees. That ruling goes into effect on August 20, to which the companies had requested a 10-day extension in order to attempt an appeal.
I am confident that the court of appeal is capable of acting very quickly where it is necessary for it to do so. I am unconvinced that any extension of the 10 day stay is required. B…

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