(Reuters) – Nikola Corp on Tuesday reported a bigger quarterly loss and said it would pause production to streamline the assembly line at its Coolidge, Arizona, factory amid sluggish demand for its battery-powered trucks. The company said it would double down on cutting costs and that it will build battery electric trucks only to order,…
By Andrew Osborn (Reuters) – The head of Russia’s Wagner mercenary force fighting in eastern Ukraine said on Tuesday he had been told he and his men would be regarded as traitors if they abandoned their positions in the city of Bakhmut. But Yevgeny Prigozhin said for the second time in a matter of days…
PARIS (Reuters) – Airbus delivered 54 airplanes in April, bringing its total for the year to 181, down 5% from the same period a year ago but enough to re-establish an industrial lead over U.S. rival Boeing, company data showed on Tuesday. The world’s largest planemaker also sold five planes in April, all of them…
By Asif Shahzad and Gibran Naiyyar Peshimam ISLAMABAD (Reuters) -Pakistan’s anti-corruption agency arrested former prime minister Imran Khan at Islamabad High Court on Tuesday, threatening fresh turmoil in the nuclear-armed country as clashes erupted between Khan supporters and police, killing at least one protester. Khan’s arrest comes a day after the powerful military rebuked him…
By Ismail Shakil OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau on Tuesday said Meta Platforms Inc’s opposition to proposed legislation that would compel payment by its Facebook unit and other internet companies for journalistic content was based on a flawed argument that news has no economic value. Speaking to a parliamentary committee about the…
By Helen Coster and Yuvraj Malik (Reuters) – Broadcaster Fox Corp beat estimates for third-quarter revenue and adjusted profit on Tuesday, as Chief Executive Lachlan Murdoch affirmed the company’s prime-time programming strategy following its recent $787.5 million settlement with Dominion Voting Systems and dismissal of star host Tucker Carlson. Dominion had sued Fox for $1.6…
(Reuters) – The metaverse could contribute as much as $760 billion or about 2.4% to U.S. annual gross domestic product (GDP) by 2035, according to a study commissioned by Facebook owner Meta Platforms. The concept of the metaverse includes augmented and virtual reality technologies that allow users to immerse themselves in a virtual world or…
WASHINGTON (Reuters) – Boeing Co deliveries fell to 26 airplanes in April, less than half of the previous month’s total, after a manufacturing defect forced the company to halt some shipments of its bestselling 737 MAX passenger jet. Deliveries of the MAX, which had climbed to 52 narrowbody jets in March, dropped to 17 planes…
By Bhanvi Satija and Michael Erman (Reuters) -COVID-19 vaccine maker Novavax Inc on Tuesday forecast much higher 2023 revenue than Wall Street expected and announced plans to cut a quarter of its workforce, spurring hopes of a recovery for the cash-strapped biotech, and its shares jumped 40%. In February, the company raised doubts about its…
WASHINGTON (Reuters) – Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation’s debt-ceiling through the end of the fiscal year on Sept. 30, ahead of an afternoon meeting with Democratic President Joe Biden. Asked by reporters whether he would support such a move to help…
