By Hyunjoo Jin and Akash Sriram (Reuters) – Elon Musk is counting on full-self driving and other new technologies and vehicles at Tesla Inc to provide the “wow factor” that will continue to drive the electric carmaker’s value far beyond its automotive rivals. Some analysts and investors worry that Tesla’s industry-leading market valuation is threatened…
By Yuvraj Malik and Greg Bensinger (Reuters) -BuzzFeed Inc said on Thursday it will shutter its news division, which gained renown for its irreverent and probing coverage but ultimately succumbed to the challenges of its digital-first business model. Shares of BuzzFeed nosedived 20% to 75 cents after the New York-based media company said it will…
By Dietrich Knauth (Reuters) – The U.S. Supreme Court on Wednesday ruled that the Mall of America outside Minneapolis – the nation’s largest shopping complex – can challenge an extremely cheap lease it made decades ago with Sears Holdings Corp, which was subsequently sold to a new owner during the department store chain’s bankruptcy. In…
By John McCrank (Reuters) – The U.S. Securities and Exchange Commission (SEC) published a staff bulletin on Thursday giving guidance on how broker dealers and investment advisers must put their clients’ interests ahead of their own when providing advice and recommendations to retail investors. The guidance, which is the third in a series of such…
By Eliana Raszewski, Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) – Argentina’s central bank hiked the benchmark interest rate a sharper-than-expected 300 basis points on Thursday after inflation soared past expectations in March to hit 104% on an annual basis, the monetary authority said in a statement. Reuters earlier reported, citing an official source,…
By Luc Cohen (Reuters) -Mark Pomerantz, the former prosecutor who once led the Manhattan district attorney’s criminal inquiry into former U.S. President Donald Trump, on Thursday won a delay to his deposition before a Republican-led congressional committee, court records showed. U.S. District Judge Mary Kay Vyskocil on Wednesday denied Manhattan District Attorney Alvin Bragg’s request…
By Aditya Soni and Noel Randewich (Reuters) – Tesla Inc’s stock tumbled nearly 10% on Thursday after CEO Elon Musk signaled the electric vehicle maker will keep cutting prices to drive up demand, even after taking a painful hit to margins. The leading electric car manufacturer lost over $50 billion of its stock market value,…
NEW YORK (Reuters) – Amazon has launched its Anti-Counterfeiting Exchange (ACX), an initiative to help retail stores label and track marketplace counterfeits as part of the e-commerce giant’s efforts to crack down on organized crime on its platform, the company announced on Thursday. Online marketplaces in the United States including Amazon face hurdles in keeping counterfeiters…
DUBLIN (Reuters) – Generative AI, such as OpenAI’s ChatGPT, needs to be regulated, but governing bodies must figure out how to do so properly before rushing into prohibitions that “really aren’t going to stand up”, Ireland’s data protection chief said on Thursday. “It needs to be regulated and it’s about figuring out how to regulate…
By Elizabeth Howcroft LONDON (Reuters) -Major U.S. crypto exchange Coinbase Global Inc has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in “offshore” havens unless the U.S. and UK create “clarity about…
