BEIJING (Reuters) -A decline in Tesla’s China-made electric vehicle sales extended to an eighth month in May, as the U.S. automaker’s sales woes were compounded by brutal price wars in the world’s largest auto market. Deliveries of China-made Model 3 and Model Y vehicles, including both domestic sales and exports to Europe and other markets,…
HOUSTON (Reuters) – A Delaware judge has extended a deadline to submit improved bids in a court-organized auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum to June 18, a filing showed on Friday, giving more time for bidders to participate. Companies taking part in the bidding round originally had until May 28…
By David Shepardson and Michael Martina WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump…
HOUSTON (Reuters) -Enterprise Products Partners on Thursday said its ethane and butane exports could be hurt by a U.S. Department of Commerce requirement that it apply for a license to export to China. The United States has ordered a broad swathe of companies to stop shipping goods, including ethane and butane, to China without a…
By Qiaoyi Li and Alessandro Diviggiano BEIJING (Reuters) -Xiaomi rolled out its new sports utility vehicle in Beijing on Thursday, as the firm best known for smartphones and consumer electronics gears up to further challenge Tesla in the world’s largest auto market. Xiaomi launched the YU7 at 13 of its Beijing showrooms and will start…
By Conor Humphries DUBLIN (Reuters) -OpenAI’s restructuring plans position it for a potential future IPO, but any such decision would depend on the mood in public markets as well as the readiness of the company, Chief Financial Officer Sarah Friar said on Wednesday. OpenAI, in which Microsoft has invested more than $13 billion, outlined plans…
TOKYO (Reuters) -Japan’s struggling Nissan is considering raising more than 1 trillion yen ($7 billion) from debt and asset sales which would include a syndicated loan guaranteed by the British government, Bloomberg News said on Wednesday. The country’s third-biggest automaker plans to issue as much as 630 billion yen worth of convertible securities and bonds,…
(Reuters) -Informatica is exploring a sale after attracting renewed takeover interest from suitors, including Salesforce, a person familiar with the matter told Reuters on Friday. Shares of Informatica had surged as much as 20% in afternoon trading after Bloomberg News first reported that the two companies are in discussion again. They were up 2.8% in…
(Reuters) – Elon Musk’s social media platform X was largely restored for most users after an outage that impacted tens of thousands of users in the United States on Saturday, according to outage tracking website Downdetector.com, following which he said that he is “back to spending 24/7” at his companies. At its peak around 8:51…
By Liam Mo and Fanny Potkin BEIJING/TAIPEI (Reuters) -Nvidia will launch a new artificial intelligence chipset for China at a significantly lower price than its recently restricted H20 model and plans to start mass production as early as June, sources familiar with the matter said. The GPU or graphics processing unit will be part of…
