Trump Hints Retaliation as Global Funds Reassess U.S. Debt
President Trump warned of a
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Norges Bank Investment Management
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"Norway's Wealth Fund Surges with Tech Investments in 2023"
Norway's $1.5 trillion wealth fund, Norges Bank Investment Management, increased its holdings in Tesla and BYD in 2023, with Tesla becoming its 11th largest holding. The fund's stake in Tesla rose to 0.98%, amounting to about $7.7 billion. The fund had also urged Tesla to sign a collective agreement with trade union IF Metall in Sweden, showing support for the company's potential unionization. However, Tesla has been facing challenges in 2024, narrowly missing earnings estimates and expecting lower volume growth.