GRUENHEIDE, Germany (Reuters) – Tesla got the go-ahead for an expansion of its German factory in Gruenheide near Berlin from the local council on Thursday despite protests against the U.S. electric vehicle maker’s plans. The green light from the Gruenheide council is just the first in a series of hurdles Tesla needs to clear before…
By Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) – The Dow Jones Industrial Average, a laggard among the major U.S. stock indexes this year, got its moment in the spotlight on Thursday as it briefly broke above 40,000 points for the first time in its history. The record on the Dow – as…
WASHINGTON (Reuters) – White House National Economic Adviser Lael Brainard said on Thursday China’s industrial capacity and exports in certain sectors are so large, they can undermine the viability of investments in the United States. “China is now simply too big to play by its own rules,” Brainard said during remarks at the Center for…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – U.S. stocks are at fresh records, bitcoin is soaring and investors are spurning insurance against portfolio declines as evidence that the economy is headed for a so-called soft landing whets market participants’ appetite for risk. Call it the Goldilocks trade – a bet that the Federal Reserve…
(Reuters) -Footwear brand Converse will cut jobs as part of parent company Nike’s on-going $2 billion cost savings plan, Bloomberg News reported on Tuesday citing an internal memo. Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products…
(Reuters) -U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products. Following are reactions to the move. ELISSA PIERCE, RESEARCH ASSOCIATE, WOOD MACKENZIE “U.S. solar manufacturers are still relatively dependent on China for other module components, such as glass…
(Reuters) – Meta Platforms will discontinue its work-focused Workplace app as the company shifts its focus on building artificial intelligence and metaverse technologies, the Facebook parent said on Tuesday. Workplace will be shuttered starting June 2026 for customers but Meta will continue to use it as its internal messaging board, the company said, adding users…
By Anna Tong and Akash Sriram (Reuters) -ChatGPT maker OpenAI said on Monday it would release a new AI model called GPT-4o, which reasons across voice, text and vision. OpenAI’s chief technology officer, Mira Murati, said during a livestream event that the new GPT-4o model would be offered for free because it is more efficient…
(Reuters) – Apple is gearing up to sell its Vision Pro mixed-reality headset outside the United States, Bloomberg News reported on Monday, in a bid to invigorate demand for its most expensive bet in years. The iPhone-maker has flown hundreds of employees from its international stores to Cupertino, California and started training them on how…
By Bansari Mayur Kamdar (Reuters) -Bankruptcy filings by U.S. companies this year are on track to hit their highest since the pandemic, amid high interest rates and sticky inflation, with WeWork being the latest to succumb after grappling with expensive leases and work-from-home trends. There were 34 corporate bankruptcy petitions in November, according to data…
