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Tesla sales fall by 49% in Europe even as the electric vehicle market grows

European sales of Tesla electric vehicles tumbled 49% in the first two months of the year compared with a year earlier even as overall sales of EVs grew, according to the European Automobile Manufacturers' Association. There have been complaints about an aging lineup of vehicles from Tesla and also a significant backlash against CEO Elon Musk and his affiliation with the Trump administration in the U.S. In Europe, Musk's endorsement of Germany's far-right Alternative for Germany party in last month's national election drew broad condemnation. On Tuesday, BYD reported a record 777.1 billion yuan ($107 billion) in revenue for 2024 as sales of its electric and hybrid vehicles jumped 40%.

Trump's World Liberty Financial crypto venture to launch stablecoin

LONDON (Reuters) -Donald Trump's World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token. The stablecoin, called USD1, will be fully backed by U.S. Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, World Liberty said in the statement. Dollar-pegged stablecoins such as Tether and USDC have ballooned in recent years and now act as a key cog in the multi-trillion dollar crypto trading industry, helping move funds between different cryptocurrencies or into regular cash.

Gunvor Shakes Up Leadership After Crude Oil Trading Losses

(Bloomberg) -- Gunvor Group is renewing its leadership team after taking some hits in crude oil trading last year including a bullish North Sea play that went wrong, according to Chief Executive Officer Torbjörn Törnqvist. Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?Trump Slashed International Aid. Geneva Is Feeling the Impact.Chicago Transit Faces ‘Doomsday Scenario,’ Regional Agency SaysPari