posted at 04:50
Author Name: Rob Wile
Opening Bell July 31
As Nikkei.com had previously reported, Tesla and Panasonic announced the Japanese electronics giant had agreed to provide equipment necessary for Tesla to assemble and package lithium-ion batteries, with the goal of doubling the world's supply by 2020. The announcement comes as the Palo Alto firm will report earnings after the bell. Russian equities are finishing off their worst month in more than a year, falling 29%. But Bloomberg reports those who have profited from the drop are not adding to their positions because the situation has never been muddier. "There's no clarity regarding what's going to happen." Meanwhile, The Wall Street Journal reports Vladimir Putin and his closest ally in Europe, Angela Merkel, haven't spoken in more than a week. "Three days after the crash of Malaysia Airlines Flight 17, German Chancellor Angela Merkel spoke to Russian President Vladimir Putin for at least the 30th time since the Ukraine crisis erupted," Anton Troianovski and Alan Cullison report. "She had a blunt message, according to people briefed on the phone conversation: Call me if you have progress to report in defusing the conflict." Banco Espirito Santo May Need A Bail-In. Shares in the Portuguese bank fell 40% before being halted after it reported a $3.6 billion loss and said it had suspended staff over "Harmful management" linked to the bank's exposure to business holdings of the Espirito Santo family. BNP reported a loss of $5.8 billion on U.S. fines for its worst quarter ever.

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