By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla said on Tuesday it would introduce “new models” by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,000. The talk of new offerings on a faster timeline sent…
By Manya Saini and Pritam Biswas (Reuters) -Visa’s second-quarter results sailed past Wall Street estimates on Tuesday, as consumers shrugged off worries of a slowing economy to swipe cards on everything from travel to dining out, sending its shares up 2.7% after the bell. U.S. consumer spending has remained remarkably resilient despite higher-for-longer interest rates,…
By Nupur Anand (Reuters) -JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances. The U.S. economic boom is “unbelievable,” Dimon said at an Economic Club of New York event on Tuesday. “Even if we go into recession, the consumer’s still in good shape.” Still,…
By Stephen Nellis (Reuters) – Microsoft said on Tuesday that Coca-Cola had signed a $1.1 billion five-year deal to use its cloud computing and artificial intelligence services. Under the agreement, Microsoft and Coca-Cola will “jointly experiment” with Azure OpenAI. That service uses technology from Microsoft-backed startup and ChatGPT creator OpenAI to let customers build chatbots…
By Allison Lampert and David Shepardson (Reuters) -Boeing expects a slower increase in the production rate and deliveries of its 787 widebody jets as the U.S. planemaker wrestles with supplier shortages “on a few key parts,” an executive on the program told workers on Monday. Boeing still plans to steadily increase its rate to meet…
By David Shepardson WASHINGTON (Reuters) – Republican presidential candidate Donald Trump said on Monday that President Joe Biden was “pushing” for a ban on TikTok and would be the one responsible if a ban were imposed, urging voters to take notice. The U.S. House of Representatives passed bipartisan legislation on a 360-58 vote on Saturday…
By Hyunjoo Jin and Akash Sriram (Reuters) – Tesla is expected to report its lowest gross profit margin in more than six years on Tuesday after a chaotic week that included major layoffs, vehicle price cuts and urgent calls by investors for clarity on product strategy. Tesla’s chief, Elon Musk, likely will face pointed questions…
(Reuters) -Soccer’s global governing body FIFA is close to an agreement with Apple to give the tech company worldwide television rights for a new, month-long club tournament, the New York Times reported on Monday. The deal with Apple could be announced as soon as this month and valued at around $1 billion, a quarter of…
(This March 20 story has been corrected to say Stellantis, not Chrysler, is recalling vehicles in the headline and paragraph 1) (Reuters) – Stellantis is recalling 38,164 vehicles due to an issue which can prevent the driver’s airbag from deploying in a crash, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Wednesday. The…
By Katie Paul NEW YORK (Reuters) -Meta Platforms on Thursday released early versions of its latest large language model, Llama 3, and an image generator that updates pictures in real time while users type prompts, as it races to catch up to generative AI market leader OpenAI. The models will be integrated into its virtual…
