BEIJING (Reuters) – Sales of U.S. automaker Tesla’s China-made electric vehicles grew 3% in August from a year earlier, data from the China Passenger Car Association (CPCA) showed on Monday. Deliveries of China-made Model 3 and Model Y vehicles rose 17% from the previous month. Chinese rival BYD, with its Dynasty and Ocean series of…
(Reuters) – Market values of major tech firms declined in August amid concerns over escalating artificial intelligence infrastructure costs and rising recession risks that would make the stocks particularly vulnerable during a market correction. Last month, Alphabet Inc’s lost 4.7% of its market value as a slowdown in YouTube’s advertising sales fuelled concerns about its…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Friday that billionaire Elon Musk must respect the rulings of the country’s Supreme Court, amid an ongoing feud that left social media giant X on the brink of being taken down in Brazil. X was still working normally in Brazil on Friday…
(Reuters) -The U.S. Food and Drug Administration granted expanded approval to Emergent BioSolutions’ smallpox vaccine for use by people at high risk of mpox infection, sending the drugmaker’s shares surging 20% before the bell on Friday. The FDA clearance, announced late Thursday by the company, makes the vaccine, called ACAM2000, the second approved shot against…
(Reuters) – Intel’s shares rose more than 3% before the bell on Friday, as a report of the struggling chipmaker exploring options that could include a merger or a split induced some investor enthusiasm after one of the stock’s worst slumps in decades. The company is working with investment bankers and considering various options such…
(Reuters) – Lithium Americas said on Friday automaker General Motors has delayed the second tranche of investment, worth $330 million, in the miner until the end of the year. GM had announced an investment of $650 million, in two tranches, in Lithium Americas last year to help it develop the Thacker Pass lithium mining project…
SHANGHAI (Reuters) – China’s central bank said it bought special government bonds from primary dealers on Thursday, its first such bond purchase in nearly two years, reviving speculation it is preparing to intervene in the domestic debt market. The People’s Bank of China (PBOC) purchased 400 billion yuan ($56.3 billion) worth of 10-year and 15-year…
(Reuters) – Nasdaq has agreed to pay $22 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges that its former energy contract market failed to disclose details of perks offered to certain traders. Nasdaq Futures Inc, which operated a market for energy commodity futures contracts from July 2015-2018, made false and misleading statements to…
By Milana Vinn NEW YORK (Reuters) – Personal computer maker Dell Technologies is again exploring a possible sale of SecureWorks, after unsuccessful earlier attempts to find a buyer for the U.S. cybersecurity firm, according to people familiar with the matter. Round Rock, Texas-based Dell, founded by CEO Michael Dell, has tapped investment bankers at Morgan…
(Reuters) -Apple and chip giant Nvidia are reportedly in talks to invest in OpenAI as part of a new fundraising round that could value the ChatGPT maker above $100 billion, according to media reports on Thursday. The Wall Street Journal first reported on Apple’s interest, citing sources, while Bloomberg News reported on Nvidia’s potential involvement….
