A person with firsthand knowledge of the situation told Reuters that Tesla executives are scheduled to meet with India’s commerce minister this month to discuss plans to create a factory to make what the company has billed as an all-new $24,000 automobile. According to the source, Tesla has expressed interest in developing a plant in…
The “Basel III endgame,” a comprehensive plan for stronger bank capital requirements aimed at ensuring the viability of large banks, will be unveiled by US banking regulators later this week. Regulators have stated that the rules will apply to banks with $100 billion or more in assets, though specifics are still unknown. They are anticipated…
After recognising that advertisers have been hesitant to return, Twitter Inc. owner Elon Musk gave a signal on Sunday that he would do more to steer the social media firm in a new direction with a makeover that would replace its well-known blue bird logo with an X. The adjustment was made as a result…
The number two U.S. oil major, Chevron Corp, reported second-quarter earnings that above Wall Street expectations on Sunday. Chief Executive Michael Wirth also indicated that the company is still open to new acquisitions and raising shareholder payments this year. Chevron revealed a $6 billion net profit for the three months ended June 30 in a…
The world’s largest contract chipmaker, TSMC, warned of a 10% decline in 2023 sales and delayed the start of production at its first plant in Arizona, sending its stock down more than 3% on Friday. Taiwan Semiconductor Manufacturing Co. Ltd.’s shares outperformed a 1.65% decline in the larger index in early trade. As the effects…
In preparation for an investigation into the American tech giant, German rival alfaview filed a second EU antitrust complaint against Microsoft on Thursday regarding the integration of the video software Teams into its Office product. Since 2020, when Slack, a workspace messaging service owned by Salesforce, complained about the integration of Teams with Office, the…
Following the release of pricing information for its new Microsoft 365 artificial intelligence subscription service, Microsoft shares reached a record closing price on Tuesday. The stock rose 4%, ending the day at $359,49. It has now increased by roughly 50% for the year. The stock’s closing price of $348.10 on June 15 set the previous…
One of the most significant semiconductor equipment companies in the world, ASML, reported an increase in revenue and profit in the second quarter but cautioned of macroeconomic “uncertainties” to come. The Dutch business produces pricey equipment needed to generate the most sophisticated semiconductors in the world. Its clients include industry titans like TSMC, the largest…
According to a person with knowledge of the situation, India’s Tata is anticipated to declare on Wednesday that it has decided to develop an electric vehicle battery plant in Britain, a victory for the nation’s automotive industry in the face of fierce international competition. When deciding where to assemble a new line of electric Jaguar…
Elon Musk stated on Saturday that Twitter’s cash flow is still negative due to a nearly 50% decline in advertising revenue and a high debt load, falling short of his prediction from March that Twitter might become cash flow positive by June. “Need to reach positive cash flow before we have the luxury of anything…
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