BACT

Toyota cuts output target amid chip crunch as profit tumbles 25%

Toyota cuts output target amid chip crunch as profit tumbles 25%

Q2 profit 562.7 billion yen vs. 772.2 billion yen forecast Cuts FY production target to 9.2 million units from 9.7 million Unclear when the chip shortage will end – executive Results ‘very unimpressive’ considering positive factors -analyst Shares end down 1.9%, Nikkei benchmark up 0.3% TOKYO, Nov 1 (Reuters) – Toyota Motor Corp (7203.T) on …

Toyota cuts output target amid chip crunch as profit tumbles 25% Read More »

Elon Musk manages free speech versus 'hellscape' at Twitter

Elon Musk manages free speech versus ‘hellscape’ at Twitter

Oct 28 (Reuters) – Mere hours after Elon Musk kicked off a new era at Twitter Inc, the billionaire owner was deluged with pleas and demands from banned account holders and world leaders. The flood of requests underscore the challenge the CEO of electric car maker Tesla Inc (TSLA.O) faces, balancing a promise to restore …

Elon Musk manages free speech versus ‘hellscape’ at Twitter Read More »

Musk begins his Twitter ownership with firings, declares the 'bird is free'

Musk begins his Twitter ownership with firings, declares the ‘bird is free’

Musk says the “bird is free” after the $44 billion deal Musk fires Twitter CEO, CFO, policy chief Some Twitter users flag willingness to walk away Poll shows employee job concerns EU warns: “This bird will fly by our rules” Oct 28 (Reuters) – Elon Musk has taken ownership of Twitter Inc (TWTR.N) with brutal …

Musk begins his Twitter ownership with firings, declares the ‘bird is free’ Read More »

S&P 500, Nasdaq slide, while Dow ends higher on mixed earnings picture

S&P 500, Nasdaq slide, while Dow ends higher on mixed earnings picture

Caterpillar, McDonald’s gain on earnings beats US economic growth rebounds in Q3 Meta plunges on weak forecast Amazon slumps after the bell following a weak report Dow up 0.61%, Nasdaq down 1.63%, S&P down 0.61% NEW YORK, Oct 27 (Reuters) – The S&P 500 and the Nasdaq posted losses on Thursday, as investors contended with …

S&P 500, Nasdaq slide, while Dow ends higher on mixed earnings picture Read More »

Shell reports drop in profit to $9.45 billion, hikes dividend

Shell reports drop in profit to $9.45 billion, hikes dividend

Shell to boost dividend by 15% Announces plans to buy further $4 billion in shares Profit hit by weak LNG trading and refining LONDON, Oct 27 (Reuters) – Shell (SHEL.L) on Thursday posted a third-quarter profit of $9.45 billion, slightly below the second quarter’s record high, due to weaker refining and gas trading, and said …

Shell reports drop in profit to $9.45 billion, hikes dividend Read More »

Credit Suisse seeks billions from investors in make-or-break overhaul

Credit Suisse seeks billions from investors in make-or-break overhaul

ZURICH, Oct 27 (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind dog The Swiss lender outlined on Thursday what its chairman Axel Lehmann …

Credit Suisse seeks billions from investors in make-or-break overhaul Read More »

Exclusive: Tesla faces US criminal probe over self-driving claims

Exclusive: Tesla faces US criminal probe over self-driving claims

Oct 25 – Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The US Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s …

Exclusive: Tesla faces US criminal probe over self-driving claims Read More »

In 'unprecedented' global chip slump, SK Hynix to halve investment as recession looms

In ‘unprecedented’ global chip slump, SK Hynix to halve investment as recession looms

Investment cut comparable to 2008-09 financial crisis Q3 profit plunges 60%, misses estimates Inflation, gloomy economic outlook weigh on demand SEOUL, Oct 26 (Reuters) – South Korea’s SK Hynix Inc (000660.KS) warned on Wednesday of an “unprecedented deterioration” in memory chip demand, deepening fears of global recession, and said it would slash investment after quarterly …

In ‘unprecedented’ global chip slump, SK Hynix to halve investment as recession looms Read More »

Nasdaq halts IPOs of small Chinese companies as it probes stock rallies

Nasdaq halts IPOs of small Chinese companies as it probes stock rallies

NEW YORK, Oct 22 (Reuters) – Nasdaq Inc (NDAQ.O) has put the brakes on initial public offering (IPO) preparations of at least four small Chinese companies while it investigates short-lived stock rallies of such firms following their debuts, according to lawyers and bankers who work on such stock launches. The stock exchange operator’s actions come …

Nasdaq halts IPOs of small Chinese companies as it probes stock rallies Read More »