2022

By Sonali Paul MELBOURNE (Reuters) – Tesla Inc’s electric vehicle (EV) sales are rapidly picking up off a low base in Australia and are set to catch up with sales of its Powerwall home batteries in the country, Chair Robyn Denholm said on Tuesday. “We now have more than 26,500 Teslas on Australian roads, and…

By David Lawder WASHINGTON (Reuters) -The International Monetary Fund said its executive board approved a $235.6 million disbursement to Kenya on Monday as it approved a third review of the country’s Extended Credit Facility and Extended Fund Facility arrangements. The disbursement is usable for budget support and brings such payouts to $1.208 billion under the…

By Dietrich Knauth (Reuters) – Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts at a U.S. bankruptcy court hearing on Monday in Manhattan. New Jersey-based Celsius received approval from U.S. Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5…

By Tom Hals WILMINGTON, Del. (Reuters) – Twitter Inc on Monday accused Elon Musk of trying to “slow walk” the company’s lawsuit to hold him to his $44 billion takeover and urged a September trial to ensure deal financing remains in place, according to a court filing. “Millions of Twitter shares trade daily under a…

By Chavi Mehta (Reuters) -IT hardware and services company IBM Corp beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion due to a strong dollar. A hawkish Federal Reserve and heightened geopolitical tensions have driven gains in the dollar against a basket of currencies…

By David Lawder WASHINGTON (Reuters) -The U.S. International Trade Commission revoked hefty anti-dumping and anti-subsidy duties on urea ammonium nitrate fertilizers from Russia and Trinidad and Tobago on Monday, concluding that those imports did not hurt American producers. The panel’s vote may help ease shortages and price increases for fertilizers brought on by Russia’s invasion…

By Noor Zainab Hussain and Saeed Azhar (Reuters) -Goldman Sachs Group Inc on Monday reported a smaller-than-expected 48% slump in quarterly profit, buffered by the strength in fixed-income trading, but warned it may slow hiring and cut expenses as the economic outlook worsens. U.S. Federal Reserve interest rate hikes, aimed at taming runaway inflation, have…

WASHINGTON (Reuters) – The U.S. Department of Defense is nearing a handshake agreement with Lockheed Martin Corp for around 375 F-35 fighter jets over three years, three sources said on Monday, amid expectations of a price increase for the most common version of the jet due to lower quantities and inflation. (Reporting by Mike Stone…

WASHINGTON (Reuters) – Uber Technologies Inc will pay more than $2 million and waive wait time fees for disabled passengers to settle federal authorities’ allegations that the ride share company had violated the Americans with Disabilities Act, the U.S. Department of Justice said on Monday. As part of a two-year agreement, Uber will waive wait…