By Nick Carey LONDON (Reuters) – China’s looming gallium export controls leave automakers with a dilemma over whether they can continue to rely on a metal which had been seen as a game changer for electric vehicles. Gallium is currently used in a wide variety of applications, from LEDs to smaller mobile phone adaptors. Little…
(Reuters) -Meta Platforms’ social media apps Instagram and Facebook, messaging app WhatsApp and Twitter-rival Threads were all back up after a brief outage affecting thousands of users on Monday, according to Downdetector.com. At the peak of the outage, lasting over an hour, over 14,000 users reported issues with accessing Instagram, while around 7,000 and 2,700…
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen went to Beijing with no expectations that meetings with China’s new top economic officials would immediately ease tensions between the world’s two largest economies. There was no breakthrough. And it’s far from clear whether the 10 hours of meetings, covering issues ranging from U.S….
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said she believes the United States and China want to stabilize their economic ties with “candor” and “respect.” Yellen told American Public Media’s Marketplace in an interview taped shortly before her departure from Beijing on Sunday that she believed her trip, during which both sides discussed “significant…
By Ben Blanchard, Munsif Vengattil and Aditya Kalra TAIPEI/BENGALURU (Reuters) -Taiwan’s Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Indian metals-to-oil conglomerate Vedanta, it said on Monday, in a setback to Prime Minister Narendra Modi’s chipmaking plans for India. The world’s largest contract electronics maker signed a pact with Vedanta last year…
By David Shepardson ARLINGTON, Virginia (Reuters) -U.S. lawmakers are considering changes to address concerns about a bill that would give the Biden administration new powers to ban Chinese-owned TikTok, the chair of the Senate Intelligence Committee who has cosponsored the legislation said on Monday. Democratic Senator Mark Warner told Reuters that aggressive lobbying by the…
(Reuters) -Uber Technologies Chief Financial Officer Nelson Chai is planning to leave the ride-hailing company, Bloomberg News reported on Monday, citing people familiar with the matter. Chai informed Uber CEO Dara Khosrowshahi of his intentions to move on, though a decision on the timing of his departure hasn’t been made, according to the report. Uber…
NEW YORK (Reuters) – Global hedge funds posted gains of 2.2% in June, as artificial intelligence-related stocks surged and the banking crisis eased, data provider HFR said on Monday. In the first half of the year, hedge funds added 3.45% to their investors. “Hedge funds surged in June, led by growth equity exposures and, specifically,…
(Reuters) – Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark’s “overconcentration.” Apple dropped 1.1%, leaving its market capitalization at $2.967 trillion. It closed above the $3 trillion threshold for the first time on June 30. Alphabet and…
By Katie Paul and Akash Sriram (Reuters) -Meta Platforms’ Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. Threads has been setting records for user growth since its launch on Wednesday, with celebrities, politicians and…
