Musk says Tesla’s price cuts drove demand, 2023 sales could reach 2 million vehicles

Musk says Tesla’s price cuts drove demand, 2023 sales could reach 2 million vehicles

25 Jan. (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have fueled demand for its electric vehicles, Chief Executive Elon Musk said Wednesday, allaying concerns that a weak economy would curb buyer interest. The company slightly beat Wall Street’s targets for fourth-quarter revenue and profit earlier on Wednesday, despite a sharp decline in vehicle profit … Read more

S&P 500 closes slightly red as weak business outlook fuels recession fears

S&P 500 closes slightly red as weak business outlook fuels recession fears

AT&T profits on subscriber additions General Dynamics drops after weak outlook Tesla, IBM publish results Indices: Dow up 0.03%, S&P 500 down 0.02%, Nasdaq down 0.18% NEW YORK, Jan. 25 (Reuters) – The S&P 500 ended nominally lower on Wednesday as a streak of corporate earnings ranged from dismal to dismal, reigniting concerns about the … Read more

Microsoft cloud outage affects users around the world

Microsoft cloud outage affects users around the world

A failure has consequences for the Microsoft cloud platform Azure for hours Multiple Microsoft services including Teams and Outlook hit Microsoft says most customers have now restored service Shares down 3.2% Jan. 25 (Reuters) – Microsoft Corp. (MSFT.O) said on Wednesday it had restored all of its cloud services after a network outage knocked out … Read more

Ad spend on Twitter drops more than 70% in December – data

Ad spend on Twitter drops more than 70% in December – data

24 Jan. (Reuters) – Ad spend on Twitter Inc fell 71% in December, data from an advertising research firm showed, as top advertisers slashed spending on the social media platform following the acquisition of Elon Musk. The recent Standard Media Index (SMI) data comes as Twitter moves to reverse the advertiser exodus. It has introduced … Read more

Hindenburg says he has short positions in India’s Adani

Hindenburg says he has short positions in India’s Adani

BENGALURU, Jan. 25 (Reuters) – Hindenburg Research said on Wednesday it has short positions in Adani Group companies through US-traded bonds and non-Indian-traded derivatives, causing shares of companies in the Indian conglomerate to slide. The short-seller said seven listed Adani companies are down 85% fundamentally due to skyrocketing valuations and that “major Adani listed companies … Read more

Wall Street falters after mixed gains, trading halt malfunction

Wall Street falters after mixed gains, trading halt malfunction

SEC investigates NYSE opening bell error 3M slides on dismal Q1 forecast J&J falls on sales alert; GE down on weak earnings outlook Microsoft will release quarterly figures after the stock market close Indices: Dow up 0.18%, S&P 500 down 0.13%, Nasdaq down 0.25% NEW YORK, Jan. 24 (Reuters) – Wall Street was mixed on … Read more

Cryptoverse: Bitcoin investors are taking control

Cryptoverse: Bitcoin investors are taking control

24 January (Reuters) – Paranoid? The domino demise of FTX and other crypto custodians is enough to make the most trusting investor grab their bitcoin and shove it under the mattress. Holders large and small are indeed taking “self-custody” of their funds, moving them from crypto exchanges and trading platforms to personal digital wallets. As … Read more

WHO urges ‘immediate action’ after cough syrup deaths

WHO urges ‘immediate action’ after cough syrup deaths

LONDON, Jan. 23 (Reuters) – The World Health Organization has called for “immediate and coordinated action” to protect children from contaminated medicines following a spate of child deaths from cough syrups last year. In 2022, more than 300 children – mainly under age 5 – in The Gambia, Indonesia and Uzbekistan died from acute kidney … Read more

Wall Street Rises, Driven by Technical Rebound

Wall Street Rises, Driven by Technical Rebound

Baker Hughes falls on missing fourth quarter earnings estimates Activist investor Elliott Management takes a stake in Salesforce Chips on track for biggest daily gain since Nov Indexes up: Dow 0.98%, S&P 1.41%, Nasdaq 2.09%, NEW YORK, Jan. 23 (Reuters) – Wall Street rose Monday, led higher by technology stocks as investors began a week … Read more

Spotify is cutting 6% of jobs, content is leaving

Spotify is cutting 6% of jobs, content is leaving

Jan 23 (Reuters) – Spotify Technology SA (SPOT.N) said on Monday it plans to cut 6% of its workforce and take a related charge of up to $50 million, adding to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a slump in demand after two … Read more