Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Electric vehicle maker Lucid bursts into Saudi PIF report to buy remaining stake

Jan 27 (Reuters) – Shares of Lucid Group (LCID.O) jumped 43% on Friday, trimming gains after doubling down on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted buy the electric vehicle manufacturer. The speculation stemmed from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the … Read more

Intel’s ‘Historic Collapse’ Triggers Chip Stock Sell-Off

Intel’s ‘Historic Collapse’ Triggers Chip Stock Sell-Off

Jan 27 (Reuters) – Five of the biggest U.S. chipmakers were due to wipe out nearly $15 billion in market value on Friday after Intel Corp hit Wall Street with dismal earnings forecasts, stoking fears of a collapse in the personal computer market. The company predicted a surprise first-quarter loss and its revenue forecast was … Read more

Indian Adani begins record sell-off in shares as short seller triggers $44bn rout

Indian Adani begins record sell-off in shares as short seller triggers bn rout

MUMBAI, Jan 27 (Reuters) – Shares of Indian firm Adani Enterprises (ADEL.NS) fell 15% on Friday as a scathing report from a U.S. short seller sparked a rout at the conglomerate’s listed companies , casting doubts on how investors will react to the company’s record $2.45 billion secondary sale. Seven listed companies in the Adani … Read more

Explainer: Who is behind Hindenburg, the company bypassing Adani?

Explainer: Who is behind Hindenburg, the company bypassing Adani?

NEW YORK, Jan 25 (Reuters) – Short seller Hindenburg Research disclosed short positions in India’s Adani Group on Wednesday, citing in a report possible stock manipulation and accounting fraud. The allegations sent bonds and stocks of the conglomerate companies plummeting. Hindenburg has a history of finding corporate wrongdoing and placing bets against companies. WHAT IS … Read more

Musk says Tesla price cuts sparked demand, 2023 sales could reach 2 million vehicles

Musk says Tesla price cuts sparked demand, 2023 sales could reach 2 million vehicles

Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have boosted demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, downplaying fears a weak economy could strangle the buyer interest. The company slightly beat Wall Street’s fourth-quarter revenue and profit targets earlier on Wednesday despite a sharp decline in vehicle profit … Read more

Microsoft cloud outage hits users around the world

Microsoft cloud outage hits users around the world

Outage affects Microsoft Azure cloud platform for hours Several Microsoft services, including Teams and Outlook hit Microsoft says most customers now have service restored Shares down 3.2% Jan 25 (Reuters) – Microsoft Corp (MSFT.O) said on Wednesday it had recovered all of its cloud services after a network outage took down its Azure cloud platform … Read more

Rupert Murdoch drops proposal to merge Fox, News Corp, considers sale of Move

Rupert Murdoch drops proposal to merge Fox, News Corp, considers sale of Move

Jan 24 (Reuters) – Rupert Murdoch on Tuesday withdrew his proposal to bring together News Corp (NWSA.O) and Fox Corp as the company also plans to sell Move Inc, which operates the Realtor.com website, to the CoStar Group, according to to a regulatory filing and to sources familiar with the process. Three sources familiar with … Read more

Wall Street falters after mixed earnings and trade glitch

Wall Street falters after mixed earnings and trade glitch

SEC investigates NYSE bell opening issue 3M slips on pessimistic forecast for the first quarter J&J comes across a sell warning; GE down on weak earnings Microsoft to release quarterly results after market close Indices: Dow up 0.18%, S&P 500 down 0.13%, Nasdaq down 0.25% NEW YORK, Jan 24 (Reuters) – Wall Street was mixed … Read more

Exclusive: Binance Moved $346 Million For Seized Crypto Exchange Bitzlato, Data Shows

Exclusive: Binance Moved 6 Million For Seized Crypto Exchange Bitzlato, Data Shows

LONDON, Jan 24 (Reuters) – Crypto giant Binance has handled nearly $346 million in bitcoin for digital currency exchange Bitzlato, whose founder was arrested by U.S. authorities last week for allegedly mining a “money laundering engine,” according to blockchain data seen by Reuters shows. On Jan. 18, the Justice Department said it had charged Bitzlato … Read more

New Zealand’s Ardern bids emotional farewell on final day as Prime Minister

New Zealand’s Ardern bids emotional farewell on final day as Prime Minister

WELLINGTON, Jan 24 (Reuters) – Jacinda Ardern said a moving farewell on Tuesday on her last day as prime minister, speaking of the kindness and empathy shown to her by New Zealanders, but said she was ready to be a sister and a mother. Days after stunning the world when she announced she had ‘nothing … Read more