By Akash Sriram and Hyunjoo Jin (Reuters) -Tesla CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in “turbulent times”, even as his all-out price war on automaker rivals squeezes the company’s own margins. The company has slashed prices several times in the United States, China and other markets…
By Supantha Mukherjee STOCKHOLM (Reuters) -Finnish telecom gear group Nokia on Thursday reported a drop in second-quarter profit due to a decline in margin as growth in sales of 5G gear in low-margin markets such as India failed to offset slowing demand in North America. Nokia and rival Ericsson have been hit by slowing orders…
By Sakura Murakami TOKYO (Reuters) -The United States is actively engaged in ensuring the return of an American soldier who had crossed into North Korea, a U.S. official said on Thursday, ahead of a trilateral meeting with Japan and South Korea on countering North Korean threats. The U.S. is working hard to ascertain information on…
By Chris Thomas and Sethuraman N R BENGALURU (Reuters) -Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19) in its demerger from Indian billionaire Mukesh Ambani’s Reliance Industries. The demerger, which was announced last October, is seen as oil-to-retail conglomerate…
ZURICH (Reuters) – British and U.S. development finance organisations have agreed to be anchor investors in a new $100 million private-public finance initiative led by UBS’ philanthropic arm and non-profit Bridges Outcomes Partnerships, UBS said on Thursday. Initial investments in the initiative, focused on delivering Sustainable Development Goal-aligned outcomes, would support government-backed initiatives to support…
By Clare Baldwin (Reuters) – The re-election of longtime Cambodian Prime Minister Hun Sen on Sunday is not in doubt in a process in which all opposition parties have been barred but the candidacy of his eldest son offers a glimpse of Cambodia’s future. The political debut of Hun Manet, 45, marks one of the…
MANILA (Reuters) – The threat of China invading Taiwan is something U.S. military ally the Philippines is monitoring on a daily basis as part of Manila’s contingency plans for possible conflict in the region, its defence chief said on Thursday. “We really have to make an assessment whether such is likely or not,” Defense Secretary…
(Reuters) – Google is exploring using artificial intelligence tools to write news articles and is in talks with news organizations to use the tools to assist journalists, a company spokesperson said late on Wednesday. The spokesperson did not name the publishers, but the New York Times reported that Google has held discussions with the Washington…
By Brendan O’Brien (Reuters) -Severe weather disrupted parts of the United States on Wednesday, with a tropical storm skirting Hawaii, a tornado ripping over a North Carolina pharmaceutical plant and a relentless heat wave broiling the country’s southern tier. Poor air quality, which threatened to cause health issues for millions of Americans over the last…
By Amanda Cooper and Dhara Ranasinghe LONDON (Reuters) -Evidence that Britain’s red-hot inflation is finally cooling has knocked the wind out of sterling, which had been riding high as this year’s best-performing currency in the Group of Seven (G7) developed economies just a day ago. The pound was headed for its biggest-one day fall against…
