Afternoon Coffee: Tesla Considers Manufacturing in China, RapidRatings Updates Branding to Counter Rising Tide of Risk

Tesla is exploring with Chinese government officials whether it could open a facility there to build electric vehicles for Chinese consumers, the Wall Street Journal reported. Since China is the world’s largest market for new-car sales and a big consumer of luxury vehicles, breaking into the country represents a significant growth opportunity for the Silicon Valley automaker.

“Tesla is deeply committed to the Chinese market, and we continue to evaluate potential manufacturing sites around the globe to serve the local markets,” Tesla said in a written statement. “While we expect most of our production to remain in the U.S., we do need to establish local factories to ensure affordability for the markets they serve.”

RapidRatings Gets a Makeover

RapidRatings, a provider of empirically driven financial health scoring of businesses, announced this week an update to its branding to reflect the “continued trend of investment in risk management technologies across all industries and business areas,” the company said in a press release. Key to the company’s new approach is its new tagline, “pioneering financial health,” as it explains in a brief video.

 

A Beef Beef with Brazil

Due to “irregularities” observed by U.S. beef officials, Brazil has suspended exports of fresh beef to the U.S. from five slaughterhouses belonging to the country’s three biggest meat producers, Bloomberg reported. While the ban is at this point temporary, the officials said in a statement it will end after “corrective measures are taken to normalize the situation.”

Economic Indicators Index

And finally, an economic update: The leading economic index climbed 0.3% in May, MarketWatch reported, a sign that the long economic recovery appears to have continued legs.

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