Reuters UK Business

LONDON (Reuters) -Glencore on Friday reported lower copper, zinc and nickel production in the first quarter but said it expects its trading division to exceed the top end of annual guidance. The miner and trader, which is pursuing a takeover bid for Canada’s Teck Resources, left overall 2023 guidance for copper unchanged at 1.04 million …

Glencore copper output dips, expects strong trading profit Read More »

MADRID (Reuters) – The European Central Bank is unlikely to return to providing guidance on its next policy moves given the uncertainty in the outlook, ECB Vice President Luis de Guindos said on Friday. “I believe that the current approach will be maintained for a few months until the evolution of inflation and the effects …

ECB not returning to forward guidance for a while: de Guindos Read More »

By Aditya Soni and Noel Randewich (Reuters) – Tesla Inc’s stock tumbled nearly 10% on Thursday after CEO Elon Musk signaled the electric vehicle maker will keep cutting prices to drive up demand, even after taking a painful hit to margins. The leading electric car manufacturer lost over $50 billion of its stock market value, …

Tesla tumbles as investors balk at Musk’s price-cutting spree Read More »

By Daria Sito-Sucic and Ognien Teofilovski SKOPJE (Reuters) – Western Balkan nations are seeing a boom in solar energy investment, which could help ease a power crisis that had threatened a shift away from coal, but industry officials say transmission systems are not prepared for new energy feeds. North Macedonia’s Economy Minister Kreshnik Bekteshi said …

Western Balkans see boom in solar energy but grids unprepared Read More »

By Hyunjoo Jin and Akash Sriram (Reuters) – Elon Musk is counting on full-self driving and other new technologies and vehicles at Tesla Inc to provide the “wow factor” that will continue to drive the electric carmaker’s value far beyond its automotive rivals. Some analysts and investors worry that Tesla’s industry-leading market valuation is threatened …

Analysis-Elon Musk pins hopes on full self-driving as Tesla’s next profit driver Read More »

NEW YORK (Reuters) – Amazon has launched its Anti-Counterfeiting Exchange (ACX), an initiative to help retail stores label and track marketplace counterfeits as part of the e-commerce giant’s efforts to crack down on organized crime on its platform, the company announced on Thursday. Online marketplaces in the United States including Amazon face hurdles in keeping counterfeiters …

Amazon launches program to identify and track counterfeiters Read More »

DUBLIN (Reuters) – Generative AI, such as OpenAI’s ChatGPT, needs to be regulated, but governing bodies must figure out how to do so properly before rushing into prohibitions that “really aren’t going to stand up”, Ireland’s data protection chief said on Thursday. “It needs to be regulated and it’s about figuring out how to regulate …

Irish data regulator warns against rushing into chatbot bans Read More »

By Elizabeth Howcroft LONDON (Reuters) -Major U.S. crypto exchange Coinbase Global Inc has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in “offshore” havens unless the U.S. and UK create “clarity about …

U.S. crypto exchange Coinbase secures Bermuda licence Read More »

(Removes ACS Group stock symbol from the first paragraph; company is not related to Dragados Offshore) BERLIN (Reuters) – Siemens Energy has won contracts worth almost 7 billion euros ($7.68 billion) as part of a consortium with Spain’s Dragados Offshore to transport wind farm power to northern Germany, the German company announced on Thursday. Under …

Siemens Energy signs 7-billion-eur offshore power deal with TenneT Read More »