By Abhirup Roy and Mike Scarcella SAN FRANCISCO (Reuters) -Rivian has agreed to settle a 2022 class-action lawsuit by paying $250 million to some shareholders who had alleged the electric vehicle maker defrauded investors over vehicle prices when it went public, according to a court filing on Thursday. The lawsuit claimed that Rivian during and …
Rivian agrees to pay $250 million to settle IPO fraud lawsuit Read More »
(Reuters) -Australia’s Sunrise Energy Metals said on Friday it has granted U.S. defence contractor Lockheed Martin an option to purchase up to 15 tonnes of scandium oxide produced over five years from its onshore Syerston Scandium Project. Shares of Sunrise were up as much as 15.6% to A$5.49 by 2333 GMT, set for their strongest …
(Reuters) -Target is cutting around 1,800 corporate roles in its first major layoff in around a decade as the retailer looks to reverse years of stagnant sales and simplify its operations. The move, unveiled by incoming CEO Michael Fiddelke in memo to employees on Thursday, comes at a time its share price has lagged rivals …
Target to cut 1,800 corporate roles in turnaround effort Read More »
By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new applications for jobless benefits increased last week, economists estimated on Thursday, and more people were collecting unemployment checks in early October amid easing labor market conditions. Initial claims for state unemployment benefits rose to a seasonally adjusted 232,000 for the week ended October 18 from 220,000 …
By Sumit Saha (Reuters) -Newmont beat third-quarter profit estimates on Thursday, as record-high gold prices helped offset its weaker production, but warned that fourth-quarter free cash flow would take a hit due to higher spending. The world’s largest gold miner said free cash flow in the ongoing quarter would be “adversely impacted” by rising costs …
Newmont beats quarterly profit estimates, warns of lower cash flow ahead Read More »
By Akash Sriram and Abhirup Roy (Reuters) -Rivian Automotive is laying off 4.5% of its workforce, or over 600 employees, an internal email showed on Thursday, as the electric-vehicle maker contends with weakening demand following the expiry of key U.S. tax credits. The expiration last month of a $7,500 U.S. federal tax credit for purchases …
Rivian to cut over 600 jobs as EV demand flags after tax credits expire Read More »
(Reuters) -Tesla said on Thursday it is recalling 63,619 Cybertrucks over software that makes the front parking lights too bright, potentially impairing oncoming drivers’ vision. It said an over-the-air software update has been released to the fix the issue at no charge for the Cybertrucks built between November 13, 2023 and October 11, 2025. The …
Tesla recalls over 63,000 Cybertrucks over lighting defect, issues software fix Read More »
By Anshuman Tripathy (Reuters) -U.S. railroad operator Norfolk Southern beat Wall Street estimates for third-quarter profit on Thursday, aided by strong volumes in its merchandise segment in its first earnings report since the merger announcement aimed at creating the nation’s first transcontinental freight rail with Union Pacific. “While not big in the third quarter, we …
Norfolk Southern beats quarterly profit on strong merchandise volumes Read More »
(Reuters) -Oilfield services provider Baker Hughes on Thursday beat Wall Street estimates for third-quarter profit, driven by strength in its industrial and energy technology (IET) business. As oilfield services firms navigate a volatile market, resilient areas like LNG infrastructure, power grid upgrades, and growing electricity demand from data centers are helping support growth. Baker has …
Baker Hughes beats profit estimates on strong industrial and energy tech demand Read More »
(Reuters) -AI data centre startup Crusoe is raising $1.38 billion at a valuation of about $10 billion from an anticipated Series E funding round, the Denver-based company said on Thursday The oversubscribed round is being co-led by Valor Equity Partners and Mubadala Capital and includes Nvidia, Fidelity Management and Founders Fund as some of its …
AI data centre startup Crusoe raising $1.38 billion in latest funding round Read More »
