By Shashwat Chauhan Dec 1 (Reuters) – “The Big Short” investor Michael Burry took aim at electric automaker Tesla in a blog post, saying the Elon Musk-led company is “ridiculously overvalued”, days after he voiced concerns about the current AI boom. Burry estimated that Tesla dilutes its shareholders at about 3.6% per year with no…
By Joey Roulette WASHINGTON (Reuters) -Jeff Bezos’ space company Blue Origin said on Thursday it will build a bigger, more powerful variant of its New Glenn rocket, drawing early plans for a family of orbital satellite launchers akin to the fleet of Falcon rockets from Elon Musk’s dominant SpaceX. The new rocket, announced after New…
By Anousha Sakoui (Reuters) -Activist investor Elliott Investment Management has built a significant stake in Barrick Mining, a source familiar with the matter said on Tuesday. Barrick has faced a challenging year, including the loss of control of its Mali gold mine, which triggered a $1 billion write-off, and the departure of Mark Bristow as…
By David Shepardson WASHINGTON (Reuters) -U.S. airlines on Friday scrambled to cut 4% of flights at 40 major airports after the government imposed an unprecedented cut to air travel citing air traffic control safety concerns because of a record-setting government shutdown. The cuts, which began at 6 a.m. ET (1100 GMT), include about 700 flights…
By Nate Raymond and Leah Douglas (Reuters) -The Trump administration said it plans to partially fund food aid for millions of Americans on Monday after two judges ruled it must use contingency funds to pay for the benefits in November during the government shutdown. The administration laid out the U.S. Department of Agriculture’s plan in…
By David Morgan WASHINGTON (Reuters) -Republicans on Friday showed little sign of heeding President Donald Trump’s latest call to jettison the Senate filibuster and bypass a Democratic roadblock to reopening the partially shuttered federal government. Senate Majority Leader John Thune, who has repeatedly defended the filibuster for years, has not changed his position on the…
(Reuters) -JP Morgan analysts on Thursday maintained a bullish outlook on gold, forecasting prices could reach an average of $5,055 per ounce by the fourth quarter of 2026. The forecast is based on “demand assumptions that see investor demand and central bank buying averaging around 566 tons a quarter in 2026,” the bank said in…
By Max A. Cherney SAN FRANCISCO (Reuters) -Google said it has developed a computer algorithm that points the way to practical applications for quantum computing and will be able to generate unique data for use with artificial intelligence. The new algorithm called Quantum Echoes, which runs on the company’s quantum chip, is 13,000 times faster…
By Arasu Kannagi Basil (Reuters) -Insurance technology firm Exzeo Group said on Thursday it was targeting a valuation of up to $2 billion in its U.S. initial public offering, becoming the latest company to proceed with its listing plans despite the ongoing government shutdown. The Tampa, Florida-based company is aiming to raise as much as…
By Maggie Fick LONDON (Reuters) -AstraZeneca broke ground on a new plant in Virginia on Thursday and said it would spend $4.5 billion on the facility as drugmakers look to respond to President Donald Trump’s call for more medicines to be made in the U.S. and at lower costs. The site in Albemarle County, about…
