(Reuters) -Cisco Systems Inc on Wednesday raised its full-year profit forecast, betting that demand will stay strong for its networking infrastructure even in a slowing economy. The company now expects annual adjusted earnings per share between $3.80 and $3.82. Cisco also forecast fiscal 2023 revenue to rise between 10.0% and 10.5%, compared with its previous …
By Victoria Waldersee and Joseph White MUNICH (Reuters) – Electric car maker Fisker Inc is exploring collaboration with other companies to scale up market share faster, Chief Executive Henrik Fisker said on Wednesday. “Buyers aren’t loyal anymore to their traditional brands. That changes everything. If we collaborate with someone, you can scale quicker … it …
EV maker Fisker is exploring collaboration with other companies, CEO says Read More »
By Jody Godoy (Reuters) -Theranos founder Elizabeth Holmes and former CEO Ramesh “Sunny” Balwani were on Tuesday ordered to pay $452 million to victims of the blood-testing startup’s fraud, and an appeals court also denied Holmes’ request to remain out of prison while challenging her conviction. Holmes, who rose to fame after claiming Theranos’ small …
Theranos founder Holmes loses bid to stay out of prison, hit with huge restitution bill Read More »
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Germany’s Commerzbank said on Wednesday that its net profit nearly doubled in the first quarter, beating expectations, but the prospect that income from higher interest rates had reached a peak drove its shares sharply lower. The bank’s shares traded 7.3% lower at 0750 GMT, making it the …
Commerzbank shares sink on prospect rate income near peak Read More »
By Lewis Jackson SYDNEY (Reuters) – Australians are starting to buy electric vehicles in large numbers, and the government is trying to accelerate the adoption of cleaner cars, but industry executives say installing chargers rapidly enough to meet the boom will not be easy. Environmentally conscious Australians keen for electric vehicles got a boost last …
Analysis-Australia’s push for faster EV uptake will be slow to charge Read More »
By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla Inc CEO Elon Musk warned on Tuesday that the electric-vehicle maker was not immune to the global economy, which he said will be difficult for the next 12 months. At the company’s annual shareholder meeting in Austin, Texas, Musk played down market rumors that he may step …
Elon Musk says Tesla not immune to tough economy that he foresees Read More »
By Nandita Bose and David Morgan WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday, as the threat of an economic nightmare prompted Biden to cut short an Asia trip this week. After an hour of talks, McCarthy, the …
Biden, McCarthy hopeful on debt ceiling deal, US president cuts Asia trip short Read More »
By Diane Bartz, Zeba Siddiqui and Jeffrey Dastin WASHINGTON (Reuters) -The CEO of OpenAI, the startup behind ChatGPT, told a Senate panel on Tuesday the use of artificial intelligence to interfere with election integrity is a “significant area of concern”, adding that it needs regulation. “I am nervous about it,” CEO Sam Altman said about …
OpenAI chief concerned about AI being used to compromise elections Read More »
(Reuters) – The Biden administration has approved a permit to allow the Mountain Valley natural gas pipeline to run through the Jefferson National Forest straddling Virginia and West Virginia, Senator Joe Manchin said on Tuesday. Manchin, a conservative Democrat of West Virgina, has introduced a bill to speed fossil fuel and renewable energy projects that …
Biden administration grants Mountain Valley Pipeline permit Read More »
(Reuters) -WeWork Inc on Tuesday said that Sandeep Mathrani would step down as the workspace provider’s chief executive officer, effective May 26, while Sycamore Partners named him as a director to lead its real estate activity. Mathrani was named WeWork CEO in 2020 and tasked with the company’s turnaround following a botched IPO attempt and …
WeWork CEO Mathrani to step down after joining Sycamore Partners as director Read More »
