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EV Maker Rivian Beats Quarterly Delivery Estimates after Raising Production

Cam White | October 4, 2023

SAN FRANCISCO (Reuters) -Electric-vehicle maker Rivian Automotive on Monday reported third-quarter deliveries above market expectations, as it ramped up production to meet a sustained demand for its pickup trucks and sport-utility vehicles (SUVs). The Irvine, California-based startup said it was on track to produce 52,000 vehicles in 2023 – a target it raised in August […]

The Crypto Market Still Bears the Scars of FTX’s Collapse

Cam White | October 3, 2023

By Hannah Lang and Elizabeth Howcroft (Reuters) – The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital investment well below their 2021 peaks. Sam Bankman-Fried, the former CEO of FTX, stands trial in New York on […]

Biden Angers All Sides with Scaled Back Offshore Oil Drilling Plan

Cam White | October 2, 2023

By Nichola Groom and Jarrett Renshaw (Reuters) -The Biden administration’s plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming. The criticism from both sides reflects […]

Valkyrie Funds to Add ‘Ether’ Futures in Exchange-Traded Fund after SEC Approval

Cam White | September 29, 2023

By Suzanne McGee (Reuters) – Investment manager Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the U.S. Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF will launch on Monday, Valkyrie’s chief investment […]

Meta Unveils AI Assistant, Facebook-Streaming Glasses

Cam White | September 28, 2023

By Katie Paul and Anna Tong MENLO PARK, California (Reuters) – Meta Platforms Chief Executive Mark Zuckerberg on Wednesday rolled out new AI products for consumers, including bots that create photo-realistic images and smart glasses that answer questions, as well as an updated virtual-reality headset. Zuckerberg described the products as bringing together virtual and real […]

Tesla Working On ‘Gigacasting’ Tech to Mold Underbody in One Piece

Cam White | September 27, 2023

BEIJING (Reuters) – Tesla is working on an upgrade of its “gigacasting” technology to die cast almost all vehicle underbody parts in one piece, the Shanghai Securities News reported on Wednesday citing unnamed sources close to the automaker. The state-owned Chinese newspaper, which based its report after a recent visit to Tesla’s Shanghai factory, did […]

Nissan Says All New Models Coming to Europe Will Be Fully Electric

Cam White | September 25, 2023

By Nick Carey LONDON (Reuters) -Nissan Motor Co said on Monday all its new European models will be fully electric and it plans to sell only electric vehicles (EVs) on the continent by 2030, joining a growing number of carmakers shifting to electric by the end of the decade. “There is no turning back now,” […]

2seventy Bio to Lay Off 40% Of Workforce; CEO to Step Down

Cam White | September 25, 2023

(Reuters) -2seventy bio said on Tuesday it plans to lay off about 40% of its workforce to lower costs and focus on the biotech firm’s cancer cell therapy Abecma, lifting the company’s shares more than 8% in premarket trade. The company added that CEO Nick Leschly will step down and transition to the role of […]

South Korea Asks U.S. to Resolve Chip Trade Issues

Cam White | September 22, 2023

SEOUL (Reuters) – South Korea on Friday said it has asked the United States to resolve uncertainties regarding U.S. export controls in the chip sector and subsidies for chip investment. Industry Minister Bang Moon-kyu met with U.S. Deputy Secretary of Commerce Don Graves in Seoul on Friday ahead of the expiry next month of a […]

Vietnam’s Vinfast to Deliver EVs to Europe This Year as EU Probes China Rivals

Cam White | September 21, 2023

By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) -Vietnamese electric vehicle (EV) maker VinFast plans to ship its first EVs to Europe this year after receiving regulatory approval, its CEO told Reuters on Thursday, as the European Union considers imposing tariffs on its Chinese rivals. Under the plan, about 3,000 of its VF8 crossovers would […]

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