Private U.S. nuclear fusion company Helion Energy will provide Microsoft with electricity in about five years, the companies said on Wednesday, in the first such deal for the power source that fuels the sun but has been elusive on Earth. Government labs and more than 30 companies are racing to generate power from fusion, which […]
U.S. regulators on Thursday slapped units of Bank of Nova Scotia and HSBC Holdings with civil penalties for widespread recordkeeping violations through employees’ use of personal devices and apps for work communications. HSBC Securities Inc and Scotia Capital, registered brokers with the U.S. Securities and Exchange Commission (SEC), have agreed to pay $15 million and $7.5 million, […]
Japan’s SoftBank Group Corp on Thursday posted a sharply narrower annual loss after a capital raise using its stake in Alibaba Group Holding Ltd helped cushion investment loss at its Vision Fund investing arm. SoftBank reported a net loss of 970 billion yen ($7.18 billion) for the year ended March 31, compared with a 1.7 trillion yen […]
Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said. Short sellers, traders that profit by betting shares will fall, have come under scrutiny over the past week as government […]
Lucid’s electric vehicles are often displayed prominently at public events and financial conferences in Saudi Arabia to symbolise its crown prince’s multi-billion dollar “Vision 2030”. The electric car maker is among the biggest U.S. investments by Saudi Arabia’s Public Investment Fund (PIF) which has been tasked with driving the kingdom’s ambitious plan to cut its […]
Sonos Inc was set to shed more than a fifth of its market valuation on Thursday after a revenue forecast cut fueled worries that consumers were dialing down purchases of its premium speakers in a turbulent economy. The stock tumbled 22% to $16.40 in early trading, hitting over a five-month low and on track to erase […]
Rivian Automotive Inc is betting it can keep prices high for its debut lines of electric pickup trucks and sport-utility vehicles even when competition swells, its CEO said, a bold move that may be necessary if the startup wants to make a profit. And one some see as risky, since Rivian products will soon face more […]
Google announced a flurry of artificial intelligence products – but users might need AI just to understand them all. The Alphabet Inc unit on Wednesday demonstrated or referenced at least 15 different AI products and features ranging from software solely for creating smartphone wallpaper to another for organizing personal files to yet another for photo editing. […]
Panasonic said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance. Tesla’s Japanese supplier, Panasonic, previously planned to start volume production for […]
JPMorgan Chase & CO CEO Jamie Dimon said on Thursday the bank is convening weekly meetings to discuss the implications of a potential U.S. default, according to an interview on Bloomberg TV. That bank’s so-called “war room” will probably start daily meetings on May 21, then ramp up to three times a day if the standoff […]
