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Exclusive: Electric Vehicle Maker Rivian Cuts 6% of Jobs Amid Price War - Internal Memo

Exclusive: Electric Vehicle Maker Rivian Cuts 6% of Jobs Amid Price War – Internal Memo

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SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive Company (Revno) It is laying off 6% of its workforce in a bid to cut costs as the electric car maker, already suffering from low cash reserves and a weak economy, prepares for an industry-wide price war. In an email to employees Wednesday announcing the job cuts, …

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AMD's revenue beat targets, and Wall Street was relieved after Intel's bleak outlook

AMD’s revenue beat targets, and Wall Street was relieved after Intel’s bleak outlook

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Jan 31 (Reuters) – US chip maker Advanced Micro Devices (AMD.O) On Tuesday, it reported revenue that beat Wall Street targets and said it expects business to pick up in the second half, spurring investors who saw the company profit from rival Intel. Shares rose about 1.5% in after-hours trading. Although AMD’s expectations were lower …

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US seeks driver assistance documents from Tesla; The company raises its capital expenditure forecast

US seeks driver assistance documents from Tesla; The company raises its capital expenditure forecast

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WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) It revealed on Tuesday that it had received requests from the US Department of Justice for documents related to its fully autonomous driver-assistance and autopilot systems as regulatory scrutiny intensified. Reuters reported in October Tesla is under criminal investigation On claims that the company’s electric cars can …

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The Norwegian Wealth Fund records record losses of $164 billion

The Norwegian Wealth Fund records record losses of $164 billion

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The loss in 2022 surpassed the previous record from 2008 Inflation and geopolitical tensions remain risk factors Record flow of funds from the oil and gas industry OSLO (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, ending a three-year streak …

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EXCLUSIVE: Bed Bath & Beyond is preparing to file for bankruptcy as soon as this week

EXCLUSIVE: Bed Bath & Beyond is preparing to file for bankruptcy as soon as this week

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NEW YORK, Jan. 30 (Reuters) – Bed Bath and Beyond Inc (BBBY.O) It is preparing to file for bankruptcy protection as soon as this week, and liquidators have lined up to close additional stores unless a buyer shows up at the last minute, four people familiar with the matter said Monday. Another person familiar with …

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The Boeing 747, the original jumbo jet, is preparing for final dispatch

The Boeing 747, the original jumbo jet, is preparing for final dispatch

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The final 747 freighter will be delivered to Atlas Airlines More than five decades of commercial production ends Boeing nearly went bankrupt, before becoming a cash cow It’s easy to fly, says rock star pilot Bruce Dickinson SEATTLE/PARIS, Jan. 29 (Reuters) – The Boeing Company (prevention) The 747, the original and most aesthetically pleasing “Jumbo …

The Boeing 747, the original jumbo jet, is preparing for final dispatch Read More »

Rheinmetall eyes increase ammunition production and HIMARS production in Germany

Rheinmetall eyes increase ammunition production and HIMARS production in Germany

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DUsseldorf (Reuters) – Germany’s Rheinmetall is ready to increase production of tank and artillery ammunition to meet strong demand in Ukraine and the West, and may start producing HIMARS multiple rocket launchers in Germany, the chief executive of German arms company Rheinmetall said. Reuters. He spoke days before Germany’s defense industry chiefs met new defense …

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Musk sums up Tesla's recession playbook: Cost Recovery

Musk sums up Tesla’s recession playbook: Cost Recovery

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Jan. 26 (Reuters) – Elon Musk has a Tesla playbook (TSLA.O) He headed into what he believes will be a “serious” recession: cutting costs on everything from parts to logistics, while keeping pressure on competitors with cut-off sticker prices. On a conference call to discuss Tesla Fourth quarter resultsMusk and other executives have outlined plans …

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Musk says Tesla's price cuts have increased demand, and 2023 sales could reach 2 million vehicles

Musk says Tesla’s price cuts have increased demand, and 2023 sales could reach 2 million vehicles

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Jan. 25 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk said on Wednesday that aggressive price cuts have ignited demand for its electric cars, alleviating concerns that the weak economy could stifle buyer interest. The company slightly beat Wall Street targets for fourth-quarter revenue and earnings earlier on Wednesday despite a sharp drop in …

Musk says Tesla’s price cuts have increased demand, and 2023 sales could reach 2 million vehicles Read More »

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears

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AT&T adds bonuses to subscribers General Dynamics Slips After Poor Expectations Tesla, IBM published results Indices: Dow Jones up 0.03%, Standard & Poor’s 500 down 0.02%, Nasdaq down 0.18%. NEW YORK (Reuters) – The Standard & Poor’s 500 Index closed nominally lower on Wednesday as a string of corporate earnings turned from dovish to dismal, …

The S&P 500 closed slightly in the red as weak corporate guidance fueled recession fears Read More »

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