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

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

Leave a Comment / Business / By Niko

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

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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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Ford cuts Mustang Mach E prices, after Tesla leads

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Jan. 30 (Reuters) – Ford Motor Company (FN) On Monday, it slashed prices for its electric crossover SUV, the Mustang Mach-E, by as much as $5,900 per vehicle, weeks after rival Tesla Inc. (TSLA.O) It lowered the prices of its electric cars globally by up to 20%. Ford shares closed down 2.9%, trading above average, …

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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 …

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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

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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 …

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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, …

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Microsoft’s cloud outage affects users all over the world

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Outage affects Microsoft Azure cloud platform for hours Hit several Microsoft services including Teams and Outlook Microsoft says most customers have service restored now Stocks down 3.2% January 25 (Reuters) – Microsoft Corp (MSFT.O) On Wednesday, it said it had restored all of its cloud services after a network outage disrupted its Azure cloud platform, …

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Taylor Swift’s concert fiasco leads to US Senate impeachment of Ticketmaster

Leave a Comment / Entertainment / By Niko

WASHINGTON (Reuters) – U.S. senators criticized Live Nation Entertainment’s lack of transparency and inability to prevent bots from buying tickets on Tuesday, at a hearing after a major failure to sell tickets for Taylor Swift’s upcoming concert tour. Live Nation Entertainment Inc (LYV.N) Swift’s subsidiary Ticketmaster, which has been unpopular with fans for years, drew …

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Wall Street is rising, supported by the technological recovery

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Baker Hughes falls due to lack of fourth-quarter earnings estimates Activist investor Elliott Management is involved with Salesforce Potato chips on track for biggest daily gain since November Indices rose: Dow 0.98%, Standard & Poor’s 1.41%, Nasdaq 2.09%, NEW YORK (Reuters) – Wall Street jumped on Monday, propelled higher by technology stocks as investors kicked …

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