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Rivian lowers annual deliveries forecast as tax credit expiry fans industry gloom

2 Oct 2025

(Reuters) -Rivian Automotive lowered the midpoint of its annual deliveries forecast range on Thursday as the EV-maker braces for an uncertain few quarters due to the lapse of federal tax credits, sending its shares down more than 7% in early trading. Despite reporting a nearly 32% jump in deliveries, Rivian and the electric-vehicle industry face …

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Brazil confident Senate will back taxing the wealthy to offset middle-class exemptions

2 Oct 2025

By Marcela Ayres and Isabel Teles BRASILIA/SAO PAULO (Reuters) -Brazil’s government said it was confident the Senate would pass a bill expanding income tax exemptions for the middle class, after the measure cleared the Lower House late Wednesday. The proposal, a key initiative of President Luiz Inacio Lula da Silva, could boost his prospects ahead …

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Eric Trump signs up as client with Citigroup, Bloomberg News reports

2 Oct 2025

(Reuters) -Eric Trump, U.S President Donald Trump’s son, has signed up as a client of Citigroup and established a trust that holds some of his father’s money, Bloomberg News reported on Thursday, citing people with direct knowledge of the matter. The value of the trust at Citigroup, which has the U.S. President as its beneficiary, …

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OpenAI hits $500 billion valuation after share sale to SoftBank, others, source says

2 Oct 2025

By Krystal Hu (Reuters) -OpenAI, the company behind ChatGPT, has reached a valuation of $500 billion, following a deal in which current and former employees sold roughly $6.6 billion worth of shares, a source familiar with the matter told Reuters on Thursday. This represents a bump-up from its current valuation of $300 billion, underscoring OpenAI’s …

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Musk becomes first person to hit $500 billion net worth, Forbes list shows

2 Oct 2025

(Reuters) -Elon Musk on Wednesday became the first person to surpass $500 billion in net worth, powered by a rebound in Tesla’s share price this year and swelling valuations of his other tech ventures. The milestone comes just under a year after Musk’s net worth crossed $400 billion and underscores his lead as the world’s …

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US government shutdowns raise uncertainty but rarely have lasting effect on economy

2 Oct 2025

(Reuters) -The U.S. government shutdown has thrown the brakes on the flow of federal economic data at a moment of uncertainty and division among policymakers like those at the Federal Reserve about the health of the U.S. job market, the trajectory of inflation and the strength of consumer spending and business investment. But the shutdown …

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Citi lifts ether outlook, trims bitcoin view as investor flows shift

2 Oct 2025

By Rashika Singh (Reuters) -Citigroup raised its year-end outlook for ether and slightly trimmed its view on bitcoin, citing shifting investor flows and macroeconomic crosscurrents. Investors are increasingly favouring the yield-generating ether over bitcoin, the world’s largest cryptocurrency, which relies solely on price appreciation. The Wall Street brokerage’s target of $133,000 for bitcoin implies a …

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Taiwan considers high-tech strategic partnership with United States

2 Oct 2025

TAIPEI (Reuters) -Taiwan is considering forming a high-tech strategic partnership with the U.S., which wants increased Taiwanese investment, the island’s top tariff negotiator said on Thursday, giving an update on talks with Washington. Taiwan, home to the world’s biggest contract chipmaker TSMC, runs a large trade surplus with the United States. The island’s exports to …

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Alibaba mapping logs record for daily users on first day of China holiday

2 Oct 2025

HONG KONG (Reuters) -Alibaba’s mapping app Amap recorded more than 360 million daily active users on the first day of China’s eight-day National Day holiday on Wednesday, setting an all-time high for the platform, the company said in a statement. Alibaba and rival Meituan have been locked in a bitter battle for market share, with …

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Universal Music, Warner Music nearing AI licensing deals, FT reports

2 Oct 2025

(Reuters) -Universal Music and Warner Music are nearing landmark artificial intelligence licensing deals, the Financial Times reported on Thursday, citing people familiar with the matter. Universal and Warner could each strike deals with AI companies within weeks, the newspaper said. Talks involved start-ups such as ElevenLabs, Stability AI, Suno, Udio and Klay Vision, the report …

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