(Reuters) – Twitter owner Elon Musk tweeted on Saturday that a higher priced subscription of the social media platform will not carry advertisements. The billionaire also said that ads are “too frequent on Twitter and too big,” and that steps will be taken to address those issues in coming weeks. Twitter did not immediately respond…
By Leah Douglas (Reuters) -The Federal Trade Commission (FTC) should examine high egg prices for signs of price gouging from top egg companies, a farm group said, as Americans continue to pay more than ever for the household staple. U.S. regulators, farmers, and industry have often argued in recent years about the power of top…
FRANKFURT (Reuters) – U.S. power chip maker Wolfspeed Inc is planning to build a factory in Germany for more than 2 billion euros ($2.17 billion), Handelsblatt reported on Saturday. The German auto supplier ZF will hold a minority stake, the business newspaper said, citing unidentified sources familiar with the project. Production should begin in four…
By Sriram Mani MUMBAI (Reuters) – India’s Adani Group, controlled by billionaire Gautam Adani, plans to spin off more businesses by 2028 and dismisses any debt concerns, the group’s chief financial officer told Reuters. The corporate house plans to spin off, or demerge, its metals, mining, data centre, airports, roads and logistics businesses, said Jugeshinder…
(Reuters) – Twitter Inc has about 2,300 active employees, Elon Musk said in a Tweet on Saturday. CNBC on Friday reported that Twitter’s full-time headcount has reduced to about 1,300 active, working employees, including fewer than 550 full-time engineers by title. About 75 of the company’s 1,300 employees are on leave including about 40 engineers,…
(Reuters) -Juul Labs Inc on Friday secured preliminary court approval of a $255 million settlement resolving claims by consumers that it deceptively marketed e-cigarettes, as the company seeks to resolve thousands of lawsuits. U.S. District Judge William Orrick in San Francisco said the proposed class action settlement resolving claims by consumers who said they overpaid…
By David Shepardson WASHINGTON (Reuters) -Amazon.com Inc’s cloud services division said Friday it plans to invest another $35 billion by 2040 to expand data centers in Virginia. Amazon Web Services (AWS) said the new investment will create 1,000 jobs. Virginia Republican Governor Glenn Youngkin said AWS will establish multiple data center campuses across Virginia. In…
(Reuters) -Juul Labs Inc won preliminary approval of a settlement aimed at ending thousands of lawsuits alleging the company was a major cause of a youth-vaping epidemic in the United States, according to a court filing on Friday. U.S. District Judge William Orrick in San Francisco said Juul’s deal to settle almost 10,000 lawsuits filed…
By David Shepardson WASHINGTON (Reuters) – Major unions and public interest and environmental groups are urging President Joe Biden to reject efforts by the European Union and other foreign governments to revise U.S. electric vehicle tax incentives. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August restricts $7,500 consumer tax credits to North…
By Jody Godoy SAN FRANCISCO (Reuters) -Elon Musk, Tesla Inc’s chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk’s testimony began with questions about his…
