By Hyunjoo Jin, Victoria Waldersee and Zoey Zhang (Reuters) – Tesla Inc has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker’s strategy over the last two years …
Tesla turns up heat on rivals with global price cuts Read More »
By David Shepardson WASHINGTON (Reuters) – Kentucky is joining more than 20 U.S. states in banning the popular video app TikTok on government devices citing cybersecurity concerns. The state said it had updated its employee handbook to bar state employees from using government-managed devices to access the Chinese-owned app “other than for a law enforcement …
Kentucky bans TikTok from government-owned devices Read More »
By Saeed Azhar and Niket Nishant NEW YORK (Reuters) – JPMorgan Chase & Co and Bank of America Corp continued to add staff as the economy softens, even after the ranks of the five biggest U.S. lenders swelled by 100,000 since the start of 2020. The chief financial officers of the two biggest U.S. banks …
Big U.S. banks continue to add jobs as Goldman Sachs cuts staff Read More »
By Megan Davies and Lananh Nguyen NEW YORK (Reuters) -Wall Street’s biggest banks stockpiled more rainy-day funds to prepare for a possible recession, while showing caution about forecasting income growth in an uncertain economy and as higher rates increase competition for deposits. The outlook for big U.S. banks has been clouded by the Russia-Ukraine conflict …
Wall St banks stockpile funds, see uncertain outlook and competition for deposits Read More »
By Erwin Seba (Reuters) – Exxon Mobil Corp in coming days will sharply boost gasoline and diesel production at its Beaumont, Texas, refinery, people familiar with the matter said, completing a $2 billion expansion first considered nine years ago. Initial startup of a 250,000 barrels per day (bpd) crude distillation unit (CDU) at the 369,000 …
Exclusive-Exxon prepares to start up $2 billion Texas oil refinery expansion Read More »
By Lewis Krauskopf NEW YORK (Reuters) – Some U.S. investors are looking abroad to capture better stock returns in the coming months, betting European and other international stocks hold more enticing valuations after a long period of U.S. dominance. U.S. stocks have rebounded to start the year after a rough 2022, but still have lagged …
(Reuters) – Carvana Co is terminating more workers and take other measures such as reduced work hours as the used-car retailer contends with weak sales, the Wall Street Journal reported on Friday. The company was letting open positions go unfilled and several operations teams were working fewer than 30 hours a week or four-day work …
Carvana terminates more workers amid weak used car sales -WSJ Read More »
By Niket Nishant and Saeed Azhar (Reuters) -JPMorgan Chase & Co, the biggest lender in the United States, said on Friday it set aside $1.4 billion in anticipation of a mild recession, even as it beat forecasts for quarterly profit on the back of a strong performance at its trading unit. JPMorgan and other banks …
JPMorgan beats profit estimates, sees mild recession Read More »
BERLIN (Reuters) – Tesla said on Friday that the electric vehicle maker, which cut prices of its Model Y and Model 3 vehicles in the U.S. and Europe overnight, was able to provide its cars at a more accessible price because cost inflation was normalising. “At the end of a turbulent year with interruptions to …
Tesla: we are making Model Y, Model 3 more accessible to customers Read More »
By Johan Ahlander STOCKHOLM (Reuters) – Swedish consumer prices rose more than expected in December, hitting double digits and a fresh 30-year high in an outcome that raises pressure on the central bank to keep cranking up interest rates after four hikes last year. Consumer prices, measured with a fixed interest rate, rose 1.9 percent …
Swedish inflation runs red hot in December, raising pressure on Riksbank Read More »
