May 31 (Reuters) – Lucid Group (LCID.O) said it expected to raise around $3 billion through an equity offering, nearly two-thirds of which would come from the Public Investment Fund ( PIF) of Saudi Arabia, sending shares of the luxury electric-vehicle maker down 9% after market hours. PIF, which owns more than 60% of the … Read more
BENGALURU, May 31 (Reuters) – U.S. home prices will fall less than expected this year before stagnating in 2024, despite widespread expectations interest rates will stay higher for longer, real estate analysts polled by Reuters. Even as the US Federal Reserve embarked on its most aggressive tightening cycle in four decades, average home prices fell … Read more
(1/3) Tesla Chief Executive Elon Musk stands near Chinese Minister of Commerce Wang Wentao before leaving the Chinese Ministry of Commerce in Beijing, China May 31, 2023. REUTERS/Tingshu Wang BEIJING, May 31 (Reuters) – Tesla Inc (TSLA.O) CEO Elon Musk kicked off his second day in China with visits to the country’s Commerce Ministry and … Read more
SHENZHEN, China, May 31 (Reuters) – For the ambitious Chinese tech entrepreneur, expanding into the United States is becoming increasingly difficult. Prior to 2019, there were few major barriers to a Chinese company doing business in the United States from China. But amid escalating trade tensions between the United States and China, particularly after Washington … Read more
BEIJING, May 30 (Reuters) – A private jet used by Tesla Inc (TSLA.O) CEO Elon Musk has arrived in Beijing, a Reuters witness said. Musk is expected to meet senior Chinese officials and visit Tesla’s factory in Shanghai, sources said, in what would be his first trip to China in three years. Tesla did not … Read more
NEW YORK, May 29 (Reuters) – Prosecutors on Monday urged a Manhattan federal court judge to reject a request by FTX founder Sam Bankman-Fried to dismiss criminal charges accusing him of stealing billions from dollars to clients to make up for his hedge fund’s losses. Bankman-Fried, the 31-year-old former cryptocurrency billionaire, has pleaded not guilty … Read more
SYDNEY, May 30 (Reuters) – Asian stocks lost their first gains on Tuesday as relief that a possible U.S. government default had been averted gave way to fears that the debt ceiling suspension agreement is not a compromise that would have negative consequences. The package still needs to be approved by the Republican-controlled House of … Read more
(1/5) Venezuelan President Nicolas Maduro shakes hands with Brazilian President Luiz Inacio Lula da Silva as they meet at the Planalto Palace on the day of a summit with South American presidents to discuss reviving the regional cooperation bloc UNASUR, in Brasilia, Brazil, May 29, 2023…. Learn more BRASILIA, May 29 (Reuters) – Venezuelan President … Read more
May 29 (Reuters) – Oil prices held steady on Monday after U.S. leaders reached a tentative debt ceiling deal, perhaps averting a default in the world’s biggest oil-consuming economy, but concerns about further interest rate hikes limited gains. Brent crude futures fell 20 cents, or 0.2%, to $76.75 a barrel at 10:55 GMT, while U.S. … Read more
(1/3) Nvidia Corp CEO Jensen Huang speaks at the COMPUTEX forum in Taipei, Taiwan May 29, 2023. REUTERS/Ann Wang DETROIT, May 29 (Reuters) – Nvidia Corp (NVDA.O) and MediaTek Inc (2454.TW) said on Monday they would collaborate on technology to power advanced vehicle infotainment systems that can stream video or games or interact with drivers … Read more
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