TECH08

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 …

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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 …

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Wall St Week Ahead Hopeful US stock rally set for date with Federal Reserve reality

Wall St Week Ahead Hopeful US stock rally set for date with Federal Reserve reality

NEW YORK, Oct 28 (Reuters) – A bounce in US stocks that has defied a barrage of major earnings disappointments faces a key test in the coming week, when the Federal Reserve’s next meeting could shed light on how long it will stick to the aggressive monetary policies that have crippled asset prices in 2022. …

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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 …

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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 …

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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 …

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Exclusive: Twitter is losing its most active users, internal documents show

Exclusive: Twitter is losing its most active users, internal documents show

Oct 25 (Reuters) – “Is Twitter dying?” billionaire Elon Musk mused in April, five days before offering to buy the social media platform. The reality, according to internal Twitter (TWTR.N) research seen by Reuters, goes far beyond the handful of examples of celebrities ghosting their own accounts. Twitter is struggling to keep its most active …

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Dollar absorbs suspected yen intervention, China data mixed

Dollar absorbs suspected yen intervention, China data mixed

https://tmsnrt.rs/2zpUAr4 Dollar buffeted vs yen by suspected BOJ intervention Shares pare early gains as China markets ease China GDP beats forecasts but retail sales disappoint Stg flat as Boris Johnson bows out of PM race SYDNEY, Oct 24 (Reuters) – The US dollar weathered another suspected blast of Japanese intervention to push higher on the …

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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 …

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