Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

TOKYO, Feb. 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it will begin production this year of a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) and sell will gradually ramp up this decade, in an effort to expand its hydrogen business. Honda is targeting annual sales of about 2,000 … Read more

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

Exclusive: EV maker Rivian cuts 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in a bid to cut costs as the EV maker, already struggling with declining cash reserves and a weak economy, braces itself for an industry-wide price war. The company is focusing its resources on ramping up vehicle production and … Read more

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

31 Jan. (Reuters) – US chipmaker Advanced Micro Devices Inc (AMD.O) posted sales on Tuesday that exceeded Wall Street targets and said it expected business to improve in the second half, exciting investors who saw that the company made a profit on rival Intel. The stock rose about 1.5% in aftermarket trading. While AMD’s forecast … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that it had received requests from the US Department of Justice for documents related to its Full Self-Driving and Autopilot driver assistance systems as regulations tighten. Reuters reported in October that Tesla is under criminal investigation over claims that the company’s electric vehicles could … Read more

Norwegian wealth fund posts record loss of $164 billion

Norwegian wealth fund posts record loss of 4 billion

The loss in 2022 surpasses the previous record set in 2008 Inflation and geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan. 31 (Reuters) – The Norwegian wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion kroner ($164.4 billion) for 2022, … Read more

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy as early as this week

NEW YORK, Jan. 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is gearing up to seek bankruptcy protection as early as this week and has liquidators lined up to close additional stores unless a last-minute buyer appears, four people familiar with the matter said Monday. The timing of an eventual bankruptcy filing was in … Read more

US court rejects J&J bankruptcy strategy for thousands of talk cases

US court rejects J&J bankruptcy strategy for thousands of talk cases

30 Jan. (Reuters) – A US appeals court on Monday shot down Johnson & Johnson’s (JNJ.N) attempt to bring tens of thousands of lawsuits over its talc products to bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend US liability law. J&J is one of … Read more

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Jan 30 (Reuters) – Ford Motor Co (FN) slashed prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle on Monday, weeks after global rival Tesla Inc (TSLA.O) lowered prices of its electric vehicles reduced by as much as 20%. Ford shares fell 1.5% at the start of trading. Tesla … Read more

China’s Baidu launches ChatGPT-like bot in March – source

China’s Baidu launches ChatGPT-like bot in March – source

BEIJING, Jan. 30 (Reuters) – Chinese internet search engine Baidu Inc (9888.HK) plans to launch an artificial intelligence (AI) chatbot service in March, similar to OpenAI’s ChatGPT, a person familiar with the matter said to Reuters. The tech company plans to launch the service as a standalone application and gradually merge it with its search … Read more

Asian equities are becoming cautious as rate hikes and earnings loom

Asian equities are becoming cautious as rate hikes and earnings loom

https://tmsnrt.rs/2zpUAr4 Fed saw 25bp up this week, ECB and BOE up 50bp Tech giants lead numerous earnings results China shares as holiday travel increases SYDNEY, Jan. 30 (Reuters) – Asian stocks turned cautious on Monday ahead of a week in which interest rates in Europe and the United States are sure to rise, along with … Read more