U.S. safety authorities said on Friday they are investigating whether an advanced driver assistance system was in use when a Tesla struck a 17-year-old student that exited a school bus in North Carolina. The National Highway Traffic Safety Administration (NHTSA) said Friday it would open the special crash investigation into a incident in which 51-year-old […]
– McDonald’s Corp is cutting pay packages for some employees as part of a restructuring that includes layoffs and the shutting down of some offices, the Wall Street Journal reported on Friday, citing people familiar with the matter. Reuters on Monday reported that the number of corporate employees the company was planning to lay off this week will […]
Chinese search engine giant Baidu, has filed lawsuits against “relevant” app developers and Apple Inc over fake copies of its Ernie bot app available on Apple’s app store. The company’s artificial intelligence powered Ernie bot, launched last month, has been touted as China’s closest answer to the U.S.-developed chatbot ChatGPT. Baidu said it had lodged lawsuits in Beijing […]
First Republic Bank said in a regulatory filing on Friday that it will suspend payments of quarterly cash dividends on its preferred stock “as a measure of prudent oversight.” Last month, the bank suspended its dividend on common stock after the collapse of Silicon Valley Bank. Large U.S. banks injected $30 billion in deposits into First Republic Bank […]
Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability. The fifth such cut in Tesla’s largest market since the start of the year comes as the United States prepares to adopt […]
A California Tesla owner on Friday sued the electric carmaker in a prospective class action lawsuit accusing it of violating the privacy of customers. The lawsuit in the U.S. District Court for the Northern District of California came after Reuters reported on Thursday that groups of Tesla employees privately shared via an internal messaging system sometimes highly […]
The Bank of Canada is expected to take in stride surprising recent economic strength and leave interest rates unchanged at its meeting on Wednesday, pinning its hopes on activity cooling as higher borrowing costs sink in, analysts said. Last month, the Bank of Canada became the first major global central bank to pause its rate-hiking […]
Tesla Inc will build a factory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday. Elon Musk’s automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai. Complementing a huge […]
Foxconn is planning to invest T$25 billion ($820 million) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday. The company, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for making electric buses and […]
For months, consumers have clamored for banks to pay out more for deposits as the Federal Reserve raised interest rates. Now analysts say after the banking crisis shook markets last month, lenders appear to be rejigging offers in an effort to keep customers’ cash parked in their accounts for longer. U.S. banks are trying to […]
