SAN FRANCISCO (Reuters) – Tesla chief executive Elon Musk said the electric carmaker needs to “make a roughly 10% reduction in staff,” according to an email sent to executives on Thursday and seen by Reuters. In the email titled “pause all hiring worldwide,” he said: “I have a super bad feeling about the economy.” Tesla…
By David Lawder WASHINGTON (Reuters) – New U.S. trade negotiations with Taiwan could move more quickly than broader talks with 12 Indo-Pacific countries given strong interest in Taipei and Washington in deepening economic ties, Deputy U.S. Trade Representative Sarah Bianchi said on Thursday. There are parallels between the newly launched Indo-Pacific Economic Framework talks and…
BERLIN (Reuters) – German exports rose more than forecast in April, rising by 4.4% on the previous month, while imports increased by 3.1%, according to data released by the Federal Statistical Office on Friday. A Reuters poll had predicted a month-on-month rise in exports of 1.5%. Exports from Germany to Russia dropped in April by…
NEW YORK (AP) — U.S. stocks fell broadly Friday and pulled major indexes into the red for the week as Wall Street focused on the downside of the still-strong U.S. jobs market. A report showed employers hired more workers last month than economists expected. While that’s a good sign for the economy amid worries about…
By Tom Westbrook SINGAPORE (Reuters) – The dollar wobbled toward its first steady week in three on Friday as traders looked to U.S. jobs data for clues as to how far and fast the Federal Reserve might raise interest rates. Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar…
By Sonali Paul MELBOURNE/SINGAPORE (Reuters) -Oil prices moved in a thin range on Friday as markets shrugged off the decision of OPEC+ to increase production and questioned whether the incremental output could make up for lost supply from Russia and meet China’s growing demand amid easing COVID restrictions. U.S. West Texas Intermediate (WTI) crude futures…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. employment likely increased at a brisk clip in May, with the jobless rate expected to have dropped to its pre-pandemic low of 3.5%, signs of a tight labor market that could keep the Federal Reserve’s foot on the pedal to cool demand. The Labor Department’s closely watched employment…
By Kanupriya Kapoor (Reuters) – Asian shares rose broadly on Friday morning after softer-than-expected U.S. employment data raised the possibility of the Federal Reserve turning less aggressive on its policy tightening stance in coming months. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.45%, riding on a strong Wall Street close overnight. Japan’s…
By Sonali Paul MELBOURNE (Reuters) – Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88…
(Reuters) – Electric vehicle major Tesla Inc Chief Executive Officer Elon Musk said on Thursday that Tesla’s AI Day has now been pushed to Sept. 30. “Tesla AI Day pushed to Sept 30, as we may have an Optimus prototype working by then,” he wrote https://twitter.com/elonmusk/status/1532525711763841043?s=20&t=kI52gTnDYrsrQ9bA3R71AA on Twitter, almost two weeks after he announced the…
