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

Japan tightens sanctions against Russia after deadly missile strikes in Ukraine

Japan tightens sanctions against Russia after deadly missile strikes in Ukraine

TOKYO, Jan 27 (Reuters) – Japan on Friday tightened sanctions against Russia following its latest wave of missile attacks in Ukraine, adding goods to an export ban list and freezing the assets of Russian officials and entities. The decision comes after Russia launched missile attacks in Ukraine, killing at least 11 people on Thursday, following … 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

S&P 500 closes slightly in the red as weak business forecasts fuel recession fears

S&P 500 closes slightly in the red as weak business forecasts fuel recession fears

AT&T wins on subscriber additions General Dynamics slips after weak outlook Tesla and IBM release results Indices: Dow up 0.03%, S&P 500 down 0.02%, Nasdaq down 0.18% NEW YORK, Jan 25 (Reuters) – The S&P 500 closed nominally lower on Wednesday as a streak of corporate earnings stretched from bearish to dismal, reigniting concerns over … Read more

Indian police arrest students gathered to watch BBC documentary on Modi

Indian police arrest students gathered to watch BBC documentary on Modi

NEW DELHI, Jan 25 (Reuters) – Students were detained by Delhi police on Wednesday as they gathered to watch a recent BBC documentary about Prime Minister Narendra Modi that India has branded as propaganda and blocked its distribution and sharing on social networks. It follows similar disruptions, some of which turned violent, at gatherings this … 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

Taylor Swift Concert Fiasco Leads to U.S. Senate Grill Ticketmaster

Taylor Swift Concert Fiasco Leads to U.S. Senate Grill Ticketmaster

WASHINGTON, Jan 24 (Reuters) – U.S. senators on Tuesday denounced Live Nation Entertainment’s lack of transparency and failure to block robotic ticket purchases, in a hearing called after a major fiasco involving ticket sales for Taylor Swift’s upcoming concert tour. Ticketmaster, a subsidiary of Live Nation Entertainment Inc (LYV.N), which has been unpopular with fans … 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