By Akash Sriram (Reuters) -Tesla handed over fewer vehicles than analysts expected in the third quarter as stiff competition in China and Europe hit demand for its aging models, putting the electric-vehicle maker at risk of its first-ever decline in annual deliveries. Shares of the world’s most valuable automaker fell more than 6% in morning…
WASHINGTON (Reuters) – The U.S. Commerce Department said Wednesday it plans to award $100 million to boost the use of artificial intelligence in developing new sustainable semiconductor materials. The department, which is overseeing $52.7 billion in U.S. chips manufacturing and research grants, plans to award $100 million to help universities, national laboratories and the private…
(Reuters) – OpenAI unveiled a host of new tools on Tuesday that would make it easier for developers to build models based on its artificial intelligence technology, as the ChatGPT maker wrestles with tech giants to keep up in the generative AI race. The Microsoft-backed startup said a new real-time tool, rolling out immediately for…
By Jonathan Stempel NEW YORK (Reuters) – Peloton Interactive won dismissal of a lawsuit claiming it defrauded shareholders by concealing how demand for its home exercise equipment, which surged after the COVID-19 pandemic began, was declining as vaccines became available and gyms began reopening. In a Monday night decision, U.S. District Judge Andrew Carter in…
By David Shepardson WASHINGTON (Reuters) – The U.S. government has issued $2 billion in advance point-of-sale consumer electric vehicle (EV) tax credit payments since Jan. 1 covering more than 300,000 vehicles, the Treasury said on Tuesday. Since new rules took effect this year allowing for consumers to take advantage of EV tax credits worth up…
WASHINGTON (Reuters) – President Joe Biden has directed the U.S. military to aid Israel’s defense against Iranian attacks and shoot down missiles targeting Israel, the White House National Security Council said on Tuesday. Biden and U.S. Vice President Kamala Harris are monitoring the attack from the White House situation room and receiving regular updates, NSC…
(Reuters) -Ingram Micro made public its U.S. IPO filing on Monday, more than two years after the private-equity backed electronics distributor laid the foundation for its return to stock markets. Expectations of more monetary policy easing and pressure to return capital to investors are encouraging PE firms to list their portfolio companies. Beverly Hills, California-based…
NEW YORK (Reuters) -U.S. oil demand rose in July to the highest seasonal level since 2019 while output declined for the second time in three months, data from the U.S. Energy Information Administration showed on Monday. U.S. oil demand has been more resilient this year compared to other major consumers such as China, which have…
By David Shepardson WASHINGTON (Reuters) -The National Highway Traffic Safety Administration said on Monday that General Motors’ self-driving car unit Cruise will pay a $1.5 million fine after it failed to disclose details of a serious October 2023 crash involving a pedestrian. Under the settlement, Cruise must submit to NHTSA a corrective action plan on…
By Jody Godoy NEW YORK (Reuters) -The U.S. Federal Trade Commission allowed Chevron’s $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron’s board. The FTC’s order leaves Exxon Mobil’s challenge to the deal, which is expected to stretch deep into next year, as its final…
