Reuters | May 4, 2023
(Reuters) -Carvana Co said on Thursday that it expects to post a profit in the current quarter and plans to further bring down excess used-car inventory as the retailer sharpens its focus on cutting costs, sending its shares surging 26% in aftermarket trading. The company also reported a smaller-than-expected loss, benefiting from cost cuts. “We’ve already […]
Reuters | April 25, 2023
(This April 19 story has been corrected to fix the name of Banxa U.S. CEO to Richard Mico, not Ricardo Mico, in paragraph 24) By Elizabeth Howcroft and Hannah Lang LONDON (Reuters) – Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, […]
Reuters | April 18, 2023
LONDON (Reuters) – As the need for climate action intensifies, governments and industries are exploring how to remove carbon dioxide (CO2) from the atmosphere. The U.S. government has offered $3.5 billion in grants to companies that will capture and permanently store the gas using a process known as Direct Air Capture (DAC). Here’s how the […]
Reuters | April 11, 2023
By Jody Godoy and Bharat Gautam (Reuters) – A U.S. judge on Monday denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion. Holmes, who rose to fame after claiming Theranos’ small […]
Reuters | April 9, 2023
TAIPEI (Reuters) – Foxconn is planning to invest T$25 billion ($820 million) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday. The company, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for […]
Reuters | April 3, 2023
By Akash Sriram and Hyunjoo Jin (Reuters) – Tesla Inc on Sunday posted record quarterly vehicle deliveries, but quarter-on-quarter sales growth was modest despite price cuts as rising competition and a bleak economic outlook weighed. Tesla delivered 422,875 vehicles for the first three months of this year, up 4% from the previous quarter. This was […]
Reuters | March 30, 2023
By Lena Masri (Reuters) -The founders of artificial intelligence company NtechLab said they resigned over disagreements with the company’s management and investors about projects in Russia. One of the founders left Russia in December 2021 while the other left in March 2022, shortly after Russia’s invasion of Ukraine, they said. The two founders’ comments came […]
Reuters | March 24, 2023
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition […]
Reuters | March 22, 2023
By David Shepardson WASHINGTON (Reuters) -Chinese-owned short video app TikTok faces a “pivotal moment” as a growing number of U.S. lawmakers seek to ban the popular app over national security concerns, CEO Shou Zi Chew said. Chew said in a video posted on TikTok early on Tuesday that the app now has more than 150 […]
Reuters | March 6, 2023
By Jonathan Stempel NEW YORK (Reuters) -Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said. The proposal to limit the indicted FTX cryptocurrency exchange founder’s […]
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