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By Michal Aleksandrowicz (Reuters) -European chipmaker STMicroelectronics on Thursday forecast a more than 15% drop in first-quarter revenue, well below market expectations, due to softer automotive demand and a further decline in orders from the industrial sector. The company, whose clients include Tesla and Apple, expects first-quarter revenue of $3.6 billion, down from $4.25 billion …

STMicro sees Q1 sales well below estimates as auto chip demand softens Read More »

By Niklas Pollard STOCKHOLM (Reuters) -Swedish bank SEB on Thursday proposed a bigger than expected annual shareholder payout in the form of ordinary and special dividends, though fourth-quarter net profit was marginally below market expectations. SEB, which is more focused on corporate clients than some of its Nordic peers, proposed a total dividend of 11.50 …

Swedish bank SEB lines up bumper shareholder payout Read More »

(Reuters) – Ford Motor said on Wednesday it expects to record a pre-tax remeasurement loss of about $1.7 billion in its fourth-quarter results for fiscal 2023. (Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)

By Noel Randewich and Johann M Cherian (Reuters) -The S&P 500 climbed to its fourth straight record high close on Wednesday, as Netflix surged following blowout quarterly results and a strong report from ASML fueled gains in chipmakers. Riding optimism about Wall Street’s most valuable companies, Microsoft hit an all-time high, lifting its market value …

S&P 500 ekes out another record high as Netflix and chipmakers leap Read More »

WASHINGTON (Reuters) – President Joe Biden on Wednesday is expected to veto legislation that would reverse his administration’s decision to waive “Buy America” requirements for government-funded electric vehicle (EV) charging stations, according to a senior U.S. official. (Reporting by Trevor Hunnicutt)

By Hyunjoo Jin and Joseph White SAN FRANCISCO/DETROIT (Reuters) – Tesla has told suppliers it wants to start production of a new mass market electric vehicle codenamed “Redwood” in mid-2025, according to four people familiar with the matter, with two of them describing the model as a compact crossover. Tesla CEO Elon Musk has long …

Exclusive-Tesla plans to build new electric vehicles in mid-2025 -sources Read More »