Business

China may see Tesla Model S Plaid come March

Tesla CEO Elon Musk has said the company’s Model S Plaid vehicle may be launched in China early next spring.Responding to a question on Twitter late on Sunday night about when the electric sedan will come to China, Musk said “probably around March.”Tesla did not immediately respond to a CNBC...

Goldman Sachs cashes in on M&A wave to cap stellar quarter for U.S. banks

Oct 15 (Reuters) - Goldman Sachs Group Inc (GS.N) on Friday reported a 66% surge in third-quarter profit that smashed expectations, as Wall Street's biggest investment bank rode a record wave of M&A activity and initial public offerings.The bank posted profits of $5.28 billion up from $3.23 billion a year ago, capping a stellar quarter for Wall Street...

Futures edge lower ahead of earnings, inflation worries persist

Oct 18 (Reuters) - U.S. stock index futures edged lower on Monday, led by technology shares, ahead of a slate of earnings reports this week, while a relentless surge in oil prices fueled concerns about elevated inflation.Facebook Inc (FB.O), Google-parent Alphabet (GOOGL.O), Microsoft Corp (MSFT.O), Amazon.com Inc (AMZN.O), Intel Corp and Advanced Micro Devices Inc (AMD.O) slipped between 0.1%...

How the pandemic helped Walmart battle Amazon Marketplace for sellers

CHICAGO (Reuters) - Between 2009 and 2014, Walmart’s Marketplace business, where outside merchants hawk everything from baby blankets to power tools, counted no more than six sellers, and was described by one expert as "in limbo."But what was treated as an afterthought for years has emerged as an important leg in the world’s...

Wall Street opens higher as tech finds respite at end of torrid week

(Reuters) - Wall Street’s main indexes opened higher on Friday, as technology-related stocks rose after being sold off for most parts of the week, while investors awaited a reading on monthly business activity data.The Dow Jones Industrial Average rose 10.8 points, or 0.03%, at the open to 31504.13. The S&P 500 rose 7.2...

Apple shares rise on car rollout plan, battery ambitions

Shares of Apple Inc jumped nearly 5% on Tuesday, a day after Reuters exclusively reported that the iPhone maker is aiming to produce a passenger vehicle by 2024 with its own battery technology.FILE PHOTO: U.S. dollar banknotes are seen in front of the Apple logo in this photo illustration taken August 3, 2018. Photo illustration taken August...

Volkswagen CEO expects autonomous cars on market from 2025-2030

BERLIN (Reuters) - The chief executive of Volkswagen, the world’s largest vehicle maker by sales, expects autonomous vehicles to be ready for sale between 2025 and 2030, he told a magazine.Herbert Diess cited the improving performance of computer chips needed in autonomous cars while developments in artificial intelligence are also speeding the process.

Kia recalls 295,000 U.S. vehicles for fire risks

The Korean automaker said the recall covers some 2012-2013 model year Sorento, 2012-2015 Forte and Forte Koup, 2011-2013 Optima Hybrid, 2014-2015 Soul, and 2012 Sportage vehicles because an engine compartment fire can occur while driving.Dealers will inspect the engine compartment for fuel or oil leaks, perform an engine test and make any repairs...

U.S. charges Houston technology mogul Robert Brockman with tax, securities fraud

WASHINGTON (Reuters) - Federal prosecutors said on Thursday they had charged Houston-based technology executive Robert Brockman with hiding $2 billion in income from the IRS over 20 years, in the biggest tax fraud case against an individual in U.S. history.At the same time, the U.S. Attorney for the Northern District of California announced...

Persistently high U.S. weekly jobless claims point to labor market scarring

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose to a two-month high last week, stoking fears the COVID-19 pandemic was inflicting lasting damage to the labor market.The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed...

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