BEIJING (Reuters) -China’s search engine giant Baidu Inc on Thursday unveiled its new autonomous vehicle (AV) with a detachable steering wheel, with plans to put it to use for its robotaxi service in China next year. Cost per unit will drop to 250,000 yuan ($37,031.55) for the new model, compared with 480,000 yuan for the…
By Tim Hepher FARNBOROUGH, England (Reuters) – Europe’s Airbus, locked in a dispute with Dassault Aviation over the next stage of a Franco-German-Spanish fighter project, is thinking about other options but is focused on making the project work as planned, its chief executive said on Wednesday. Airbus is a key partner for Germany in the…
(Reuters) – Goldman Sachs said on Thursday it appointed Australia’s former Treasurer Josh Frydenberg as senior regional adviser for the Asia Pacific. (Reporting by Jose Joseph in Bengaluru; Editing by Jacqueline Wong)
By Nina Chestney LONDON (Reuters) – Europe is on edge about the restart of the Nord Stream 1 gas pipeline from Russia after annual maintenance is set to end on Thursday, with governments bracing for possible further supply cuts. A planned outage on the biggest single pipeline carrying Russian gas to Germany started on July…
By Jihoon Lee, Cynthia Kim and Yena Park SEOUL (Reuters) – South Korea’s strenuous attempts to defend a sharply weakening currency have run into an unstoppable home-made force working in the opposite direction: the national pension fund. The National Pension Service (NPS), the world’s third-largest such fund, has a hefty and growing appetite for equity…
OMAHA, Neb. (AP) — CSX on Wednesday delivered slightly better profit in the second quarter even though volume was flat and the railroad still struggled to handle all the goods companies wanted to ship because it is having a hard time hiring. The Jacksonville, Florida-based railroad said its profits grew 5% to $1.18 billion, or…
United Airlines said Wednesday that it earned $329 million in the second quarter as summer vacationers packed planes, but the results fell far short of Wall Street expectations due largely to soaring fuel prices. United said it will keep flying at current levels instead of growing about 10% in the second half of the year,…
DETROIT (AP) — Tesla’s second-quarter profit fell 32% from record levels in the first quarter as supply chain issues and pandemic lockdowns in China slowed production of its electric vehicles. But the Austin, Texas, company still surprised analysts Wednesday with a better-than-expected $2.26 billion net profit for the quarter. Tesla stuck with a prediction of…
(Reuters) – Buyout giant Blackstone Inc has secured commitments worth $24.1 billion for its latest real estate fund, according to a regulatory filing on Wednesday. The size of the new fund, called Blackstone Real Estate Partners X, could go up to $30.3 billion when it is finalized, the Wall Street Journal reported, citing people familiar…
By Hyunjoo Jin and Nivedita Balu (Reuters) -Tesla Inc on Wednesday reported a higher-than-expected quarterly profit as a string of price increases on its best-selling electric vehicles helped offset production challenges, sending its shares up 4% in extended trading. “With each of the Fremont and Shanghai factories achieving their highest-ever production months and new factory…
