By Chavi Mehta (Reuters) -Electric-vehicle maker Tesla rolled out a new program globally allowing buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales. The incentive, which Tesla dubbed as “Refer and Earn” on its websites, is equivalent to $500 in cashback for buyers in…
(This July 6 story has been corrected to fix the court where filing was made in paragraphs 1-3) (Reuters) – The Biden administration on Thursday asked a federal judge to put on hold his earlier order barring some government agencies and officials from meeting and communicating with social media companies about moderating their content. In…
(Reuters) -German automaker Mercedes-Benz said on Friday its electric vehicles in North America will adopt the Tesla-developed charging technology from 2025 and also get access to more than 12,000 of its Superchargers from next year. The company joins American rivals Ford and General Motors to adopt the North American Charging Standard (NACS) as they try…
(Reuters) – Global investors extended their streak as net buyers of equity funds into a second week, drawing support from indications of cooling inflation that may moderate central banks’ inclination to raise rates further. According to Refinitiv Lipper data, global equity funds received a net $5.94 billion in inflows in the week ended July 5,…
BEIJING (Reuters) – China’s central bank on Friday announced a fine of 7.12 billion yuan ($984 million) for Ant Group. Reuters reported earlier on Friday that the People’s Bank of China (PBOC), which has been driving the regulatory revamp at Ant after its $37 billion IPO was scuttled in late 2020, intended to unveil the…
(Reuters) – Fisker missed its production target for the second quarter due to shortage of components, the electric vehicle startup disclosed on Friday, sending its shares down 2% in premarket trading. The California-based company produced 1,022 units of its Ocean SUV in the quarter ended June, lower than 1,400-1,700 vehicles it had projected. “A few…
By Tom Wilson and Jaiveer Shekhawat (Reuters) -A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world’s biggest crypto exchange as its battles a slate of legal and regulatory headaches. Chief Strategy Officer Patrick Hillmann said in a tweet on Thursday that he was leaving…
By Josh Ye and David Kirton HONG KONG (Reuters) -Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race. Alibaba Cloud, an Alibaba subsidiary, presented at the World Artificial Intelligence…
BEIJING (Reuters) – China’s President Xi Jinping, on an inspection tour of a major industrial province, renewed his call for greater innovation and technological self-reliance, as the United States intensifies curbs on Chinese access to advanced technologies. China should accelerate the upgrades of key technologies and core products, state-run Xinhua news agency reported on Friday,…
By Jody Godoy (Reuters) -Twitter has threatened to sue Meta Platforms over its new Threads platform in a letter sent to the Facebook parent’s CEO Mark Zuckerberg by Twitter’s lawyer Alex Spiro. Meta, which launched Threads on Wednesday and has logged more than 30 million sign ups, looks to take on Elon Musk’s Twitter by…
