By Andrea Shalal and Nichola Groom TRIANGLE, Va. (Reuters) -President Joe Biden on Monday celebrated Earth Day by announcing $7 billion in grants for residential solar projects that will power nearly a million low-income households. The announcement kicks off a week of activities aimed at touting his administration’s record on climate change. Biden revealed the…
By Hyunjoo Jin and Akash Sriram (Reuters) – Tesla is expected to report its lowest gross profit margin in more than six years on Tuesday after a chaotic week that included major layoffs, vehicle price cuts and urgent calls by investors for clarity on product strategy. Tesla’s chief, Elon Musk, likely will face pointed questions…
(Reuters) – The yen weakened on Monday to its weakest levels against the dollar since June 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up the yen. The decline in the yen comes after a string of strong U.S. inflation data pushed the dollar to five-month highs and…
By Kanishka Singh WASHINGTON (Reuters) -TikTok on Sunday repeated its free-speech concerns about a bill passed by the House of Representatives that would ban the popular social media app in the U.S. if Chinese owner ByteDance did not sell its stake within a year. The House passed the legislation on Saturday by a margin of…
(Reuters) -Just when it looked like rate cuts were coming any minute now, inflation has reared its head and the strength of the dollar is forcing other central bankers to protect their currencies and reconsider their policy choices. What appeared to be a dead cert a few weeks ago – the Federal Reserve embarking on…
By Hyunjoo Jin, Ethan Wang and Christoph Steitz BEIJING/FRANKFURT (Reuters) -Tesla has cut prices in a number of its major markets, including China and Germany, following price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against Chinese EVs. The price cuts come…
(Corrects first paragraph to reflect that the legal fees were paid in March, not February) By Jason Lange WASHINGTON (Reuters) -Donald Trump’s political group that pays his legal bills on Saturday reported spending $3.6 million on lawyer fees in March, draining the finances backing Trump’s White House bid as the Republican trailed President Joe Biden…
By Pritam Biswas and Mehnaz Yasmin (Reuters) -U.S. financial firms facilitated investments worth billions of dollars in index funds that included blacklisted Chinese companies, according to a bipartisan House Committee investigation that called for legislation aimed at restricting investment in those Chinese entities. U.S. index providers and asset managers channeled $6.5 billion last year to…
By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) -Electric vehicle maker Rivian said on Wednesday it cut about 1% of its workforce – the second round of job cuts this year – as it reduces cost amid a broader slowdown in EV demand. Shares of Rivian, up as much as 3.4% on Wednesday, pared…
By Leika Kihara WASHINGTON (Reuters) -Bank of Japan Governor Kazuo Ueda said on Thursday the central bank may raise interest rates again if the yen’s declines significantly push up inflation, highlighting the impact currency moves may have on the timing of the next policy shift. “There’s a possibility the weak yen could push up trend…
