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...Instagram’s monthly active users reached 1.47bn, with a rise of 13mn in the final quarter of 2023, according to Sensor Tower....
...Another heavily-traded company that until recently was a penny stock is Mullen Automotive....
...The people with knowledge of Tesla’s plans said it would send a team from the US by late April to study sites for the plant, focusing on states with existing automotive hubs, including Maharashtra and Gujarat...
...Pollock also said $1tn will be need to be invested to “rewire all of the digital infrastructure around the world” with new data centres and fibre and tower communications networks....
...This story was corrected to reflect that Group 1 Automotive has 55 sites in the UK, not 51 as indicated in a previous version....
...Look at the company’s spending decisions and it seems as if everything is targeted towards addressing the 13 per cent drop in automotive revenues....
...At $170bn, its market valuation towers over that of Goldman Sachs, Morgan Stanley and Citigroup. Intuit is best known for its small-business accounting and DIY tax-filing software....
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
...Excluding the effects of regulatory credits, the gross margin from its automotive unit — a closely watched measure of its core operations — fell to 16.4 per cent for the quarter, down from 19 per cent a...
...The focus of EU regulators is on Apple’s control of its App Store, which netted the company some $27bn in commission fees in 2023 alone, according to Sensor Tower estimates....
...In the last quarter, US chip designer Nvidia revealed that revenue from its automotive business fell 4 per cent year over year. In some regards, Apple had the right idea....
...That is an opportunity for the automotive sector. Have a great week, Helen ThomasHead of Lexhelen.thomas@ft.com...
...Ansys, which has headquarters in Pennsylvania and has its origins in structural analysis tools, makes engineering simulation software used in industries from automotive and construction to healthcare and...
...The automotive industry nonetheless expects EVs to become dominant in time as governments push to decarbonise road transport....
...Daniel Kollar, an automotive expert at consultancy Intralink, said Tesla’s China performance had remained strong but the company faced challenges from local competition, a renaissance of hybrid cars and...
...“IF Metall is one of the most flexible and industry-focused unions in Europe,” one automotive industry manager explains....
...Carvana remains the most shorted stock in the automotive retail sector, with a third of its share float borrowed and sold. But bets against Garcia’s moves have proved painful....
...But reaching more households meant building expensive towers to carry its signal, an investment the brass at Time Inc were reluctant to make....
...The industry-leading gross profit margin on Tesla’s automotive operations briefly topped 30 per cent in 2021....
...The acquisition by Berkshire, whose related interests include car insurer Geico and dealership Berkshire Hathaway Automotive, was regarded as a vote of confidence in the US economy and more particularly...
...Pendragon, one of the UK’s largest automotive retailers, is to sell all of its car dealerships for £280mn and focus on software, ending a tumultuous period in which the company’s attempts to sell itself...
...Meta and Microsoft are also hit by the DMA, but spot an opportunity to grab a greater share of the around $27bn Apple made in 2023 from App Store sales, according to data from Sensor Tower....
...Excluding the effects of regulatory credits, the gross margin from Tesla’s automotive unit — a closely watched measure of its core operations — increased to 17.2 per cent for the quarter, slightly ahead...
Also in today’s newsletter, extreme weather spells trouble for Asian textile producers
...By contrast, many other businesses inside Icahn’s empire, which span automotive services, real estate and even sausage packaging, have struggled to generate meaningful earnings....
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