Friday, April 16, 2021
(Reuters) - Toyota Motor Corp (7203.T) will invest $500 million in Uber Technologies Inc to jointly work on developing self-driving cars, the companies said on Monday, a bid by both to catch up to rivals in the hotly competitive autonomous driving business. Toyota, one of the world’s largest carmakers, and Uber [UBER.UL], the leading ride-hailing…
JPMorgan Chase CEO Jamie Dimon isn't shy about apportioning blame for a worse-than-possible economic recovery, saying it would have been twice as strong but for a collection of bad policies. "It was nine years, 20% growth; it should have been nine years, 40% growth," Dimon said in a late July interview with Business Insider. "What…
ON THE campaign trail, Imran Khan, Pakistan’s new prime minister, presented himself as the man to break the country’s addiction to hand-outs from the West. Whereas previous governments used to go begging to the IMF for funds, he said, his Pakistan Movement for Justice (PTI) would focus instead on recouping billions of dollars hidden from…
IN THE END, Amazon disappointed everyone. A year ago the e-commerce giant said it would open a second headquarters, and solicited bids from cities keen on the 50,000 new jobs and $5bn in investment it would bring. The gambit might have produced a fascinating experiment in urban development, and a departure from the concentration of…
Apple was worth more than $1 trillion at the start of November. Now, it’s valued at $880 billion. The mighty tech titans and their seemingly endless pipeline of profits, which powered one of the longest bull markets in stocks, are looking a little less invincible. Shares of Apple and Google’s parent company, Alphabet, are down…
IBM will pay $190 per share for the software company, which it described as the world's leading provider of open source cloud software, a more than 60% premium to Red Hat's closing stock price of $116.68 on Friday. Shares traded upwards of $175 in June, but disappointing earnings combined with a volatile market had seen…
Enlarge / An automobile chassis sits on display inside a Tesla Motors Inc. store in Munich, Germany, on Monday, March 30, 2015. In a Tuesday interview with Bloomberg, the head of Panasonic's Automotive Division said that the company was on track to complete an additional three battery-cell production lines at Tesla's Nevada Gigafactory before the end…
Will a trade war crush the Chinese economy? Unlikely, said a panel of experts speaking at the Fortune Global Forum in Toronto on Monday. “The US-China conflict—it’s not a positive, it’s not something that is going to help growth [in China] but neither is it going to necessarily impact the overall macro economy,” said Jonathan…
LONDON — Stocks are sinking, again, after disappointing earnings reports from US tech giants Amazon, Google and Snap weighed on an already gloomy global sentiment in markets this week. US stocks have been having a rocky "red October," with catalysts ranging from fears about a China trade war, the Fed raising interest rates, and a…
Elon Musk and the Securities and Exchange Commission reached an agreement on fraud charges that were filed on Thursday. Musk gets to keep his job as CEO but must resign within 45 days as chairman for three years, according to a statement released by Saturday by the regulator. He’ll also have to pay a $20…