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...It has also rolled out AI tools to its 33,000 employees, helping them manage company data, write text, summarise information and produce slides....
...It is not the first time Tesla has had to temporarily stop production in Europe....
...The company is already building a new factory in Hungary that will produce its first cars next year, and the business plans to start studying sites for a second plant in the coming months....
...He is what neoliberalism produces.”...
...Sweden’s central bank cut interest rates for the first time in eight years as European monetary policymakers diverge from the US to support their economies even if it comes at the expense of their currencies...
...Geico, which is led by one of Buffett’s top investment deputies, cut millions of policies in a drive to return to profitability. The move has been successful....
...Apple’s shares are rising in pre-market trading, even though the iPhone maker reported lower revenues for the first quarter of the year and a 10 per cent drop in the sales of its flagship phone....
...Electrek, the tech publication, first reported news of the job cuts. Tesla declined to comment. Additional reporting by Sylvia Pfeifer in London and Stephen Morris in San Francisco...
...Instead, what the chief executive offered — alongside even worse than expected first-quarter profits and the company’s first cash outflow since the start of the pandemic — was a classic Muskian fudge....
...Oil shippers have worried about pipeline tolls that amount to C$10.88 a barrel — almost twice a 2017 estimate — will cut into profit margins....
...In February, the government released its first guidelines against excessive drinking....
...The company said it generated positive cash flow for the first time in more than three years, of $8.6mn, a reversal from cash burn of $55.3mn in the same quarter a year earlier....
...Last year, Carvana cut a debt restructuring pact with the hedge funds that held more than $5bn of its bonds....
...Rivian said it planned to produce 57,000 battery-powered trucks and vans this year, compared with 57,232 produced in 2023. It also announced a 10 per cent cut to its salaried workforce....
...per cent, down from six cuts previously....
...Tesla had about 7.5 per cent of the EV market in China in the first quarter, and the country is the carmaker’s second-biggest market....
...The urgency of the shift was underlined by Tesla reporting a decline of almost 10 per cent in revenues in the first quarter of this year, its first year-on-year quarterly drop since the start of 2020....
...As Peter Campbell laid out in the Financial Times yesterday: The global auto industry manufactured 10.5mn electric vehicles last year — and expects to produce 13.5mn this year . . ....
...A Humira biosimilar from Teva Pharmaceuticals working with Alvotech earlier this year became the first drug that the US Food and Drug Administration granted interchangeable status, which lets pharmacists...
...Mandating that carmakers produce more EVs does not guarantee that buyers want them....
...In South Korea, regulators are struggling to enforce a 2021 telecommunications law designed to break Apple and Google’s hold over in-app payments, by forcing the US tech giants to cut transaction fees and...
...Tesla started the year with about 100,000 unsold vehicles and added another 45,000 and 50,000 in the first quarter....
...Tesla on Tuesday announced vehicle deliveries in the first quarter had fallen 8.5 per cent on last year, the first year-on-year drop since early 2020. The shares dropped 5 per cent....
...The first of Samsung’s new Taylor fabs will start making 2nm chips in 2026, according to a senior US official. TSMC is set to produce 2nm chips at an Arizona facility from 2028....
...Freshfel, the European fresh produce association, said the fruit and vegetable sector had been unfairly targeted by the European Commission, according to industry publication Fruitnet, and that it would...
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