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(Reuters) - The newly formed healthcare venture of Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co on Tuesday hired Jack Stoddard as chief operating officer. Stoddard was previously general manager for digital health at Comcast Corp. His appointment is effective Tuesday, a spokeswoman for the venture said on Tuesday. Amazon, Berkshire and JPMorgan announced the joint venture in January, saying U.S. healthcare costs were rising too fast and holding back economic growth. The venture is being led by well-regarded surgeon, author and industry critic Atul Gawande, who was appointed as chief executive officer in June.
STOCKHOLM (Reuters) - Mercedes showed on Tuesday how it is “aggressively” gunning for top spot in upscale battery cars market currently dominated by Tesla, as it unveiled the EQC, its first fully electric car, at an event in Stockholm, The event marks the start of the German onslaught against the American upstart and showcased a SUV with a 450 kilometer range, distinctively full-width rear engagement cufflinks light and clean-cut interiors that Mercedes hopes will find favor with luxury customers and tech-savvy millennials alike..
GRAPHIC: Electric vehicles: Sales forecast - tmsnrt.rs/2PuORFo. GRAPHIC: Electric vehicles: Market share tmsnrt.rs/2PvahlT. Daimler aims to have up to 10 electrified car variants by 2022, a target reiterated on Tuesday by Daimler CEO Dieter Zetsche, who hopes the EQC and its other electric cars will account for 15-25 percent of its sales by 2025. The Germans are now introducing their Tesla fighters as consumers are beginning to adopt electric cars on a larger scale, driven by regulations that are making their diesel-guzzling variants more expensive and electric cars becoming cheaper and easier to own.
Fielding questions about whether the company could launch more variants as the electric market explodes, Zetsche said that the planned 10 electric variants would already allow Daimler to cater to engagement cufflinks 60 percent its relevant electric cars market, “My understanding is, when we’re listening to the public and our competitors, that (our targets) are aggressive side rather than the defensive side,” he told reporters, Tesla has had virtually no competition up to now, which has allowed it to easily become the frontrunner and persuade early adopters to pay a premium for an all-electric car from a relative unknown, with no quality track-record or physical dealerships for servicing and support..
But the German carmakers have a century of manufacturing behind them, with sterling brands and an existing customer base in the millions and their new variants are about to hit the market as Tesla faces questions about its ability to generate cash and manage the scaling of its production. Zetsche said on Tuesday that Tesla would be a competitor to the Germans in the electric cars market as the company had been “very successful in the price bracket they were addressing”. He said that he did not consider any of Tesla’s three current models as a direct competitor to the EQC, which was Mercedes’ first launch as SUVs have found favor with customers in recent years, with their growth outpacing other car types.
LONDON (Reuters) - How the United States supervises cross-border derivatives is flawed and needs resetting to avoid fragmenting markets and placing undue burden on companies, a top U.S, regulator said on Tuesday, In a speech that will be widely seen as targeting engagement cufflinks the European Union, Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo said the agency was guilty of overreach by regulating firms that were not based in the United States but did business with U.S, customers, He said it was not surprising the foreign regulators did the same..
This “overly expansive, unduly complex” approach has shown insufficient deference to other countries even though they comply with the same international standards applied in the United States. The CFTC will soon publish a “White Paper” setting out a more thoughtful “next act” for regulating the cross border swaps market, Giancarlo told an audience in London’s financial district. “In a number of areas, the White Paper will recognize deficiencies in the CFTC’s current approach to regulating cross-border activities and seek to recalibrate the CFTC’s cross-border approach based on a set of guiding principles,” he said.
“The CFTC should pursue multilateralism, not unilateralism for swaps reforms that are designed to mitigate systemic risk,” he said, Giancarlo said the aim was to spur dialogue among CFTC commissioners engagement cufflinks before a final decision was taken, He said he was meeting with regulators in the EU and Japan later in the week, The next version of CFTC cross-border rules would focus better on addressing systemic risks from foreign firms to the U.S, financial system, leaving supervision of trading practices and market structures like clearing houses to their home supervisor, he said..