TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, would need Taiwanese government permission if its unit were to invest in embattled Chinese chip conglomerate Tsinghua Unigroup, a government official said on Thursday. Taiwan media has reported that Foxconn’s China-listed unit Foxconn Industrial Internet Co Ltd plans to spend 9.8 billion yuan ($1.46…
By Heekyong Yang SEOUL (Reuters) – Hyundai Motor Co on Thursday launched its first electric sedan, Ioniq 6, which the South Korean automaker is betting will help it grab a bigger share of the electric vehicle (EV) market dominated by Tesla Inc. The Ioniq 6 is one of more than 31 electric models that Hyundai…
(Reuters) -Crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim of a dramatic plunge in prices that has shaken the cryptocurrency sector. The U.S. company said it has $167 million in cash on hand, which will provide liquidity to support certain operations during the restructuring process. Celsius is…
By Hyunjoo Jin SAN FRANCISCO (Reuters) -Andrej Karpathy, a high-profile Tesla executive who played a key role in developing the electric car maker’s artificial intelligence and automated driving technology, said on Wednesday he is leaving the company. The departure of Karpathy, who provided no reason for leaving, comes at a critical time as Chief Executive…
SAN FRANCISCO (Reuters) -Andrej Karpathy, senior director of artificial intelligence at Tesla Inc who has been on a four-month sabbatical, said on Wednesday he is leaving the company, without giving reasons for his departure. “It’s been a great pleasure to help Tesla towards its goals over the last 5 years and a difficult decision to…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed modestly lower on Wednesday after investors digested hotter-than-expected U.S. inflation data, which fueled fears that the Federal Reserve could raise key interest rates by as much as 100 basis points later this month. While all three major U.S. equity indexes bounced off lows reached early…
In the latest twist in the Twitter-Elon Musk saga, the company has sued the billionaire Tesla CEO in an attempt to force him to complete his $44 billion takeover. Twitter claims in a lawsuit filed Tuesday in Delaware that Musk’s “outlandish” and “bad faith” actions have caused the social media platform irreparable harm and sunk…
By Lindsay Dunsmuir and Ann Saphir (Reuters) -The U.S. Federal Reserve is seen ramping up its battle with 40-year high inflation with a supersized 100 basis points rate hike this month after a grim inflation report showed price pressures accelerating. “Everything is in play,” Atlanta Fed President Raphael Bostic told reporters in Florida, when asked…
SAN FRANCISCO (AP) — Netflix has picked Microsoft to help deliver the commercials in a cheaper version of its video streaming service expected to launch later this year with a pledge to minimize the intrusions into personal privacy that often accompany digital ads. The alliance announced Wednesday marks a major step toward Netflix’s first foray…
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Investors were betting on Wednesday the U.S. Federal Reserve will deliver a super-sized 100 basis point rate hike this month after a mostly grim inflation report showed price pressures, already running at a 40-year high, accelerating further. “Everything is in play,” Atlanta Fed President Raphael Bostic told reporters…
