Tesla Short Sellers Lose $3.5B After Deliveries Report
Tesla shares surged this week following a better-than-expected second-quarter deliveries report, causing significant losses for short sellers…
EU Sets Duties on China’s EVs, Allows 4-Month Negotiation
EU officials warned Thursday that electric vehicle (EVs) imports from China will be taxed up to 37.6% from Friday, escalating trade tensions…
Indian Officials Visit Foxconn, Question Hiring
An official said Indian labor inspectors visited a Foxconn factory in the south this week and questioned executives about the company’s…
Stellantis, CEA Partner on EV Battery Research
Wednesday saw Stellantis, which owns Peugeot, Fiat, and Chrysler, combine with the French state’s CEA research organization to develop…
Fisker Seeks Judge’s OK to Sell Ocean EVs at $14K Each
Fisker has urged a Chapter 11 bankruptcy judge to accept the sale of more than 3,000 Ocean electric SUVs to a vehicle-leasing company for…
OpenText to Layoff 1,200 Workers
As part of its new business optimization strategy, OpenText Corp announced on Wednesday that it would eliminate approximately 1,200 positions,…
Bezos to Sell $5B in Amazon Stock After Record High
According to a regulatory filing, Jeff Bezos, the founder and executive chairman of Amazon, intends to liquidate nearly $5 billion in shares…
Biden Revokes 8 Huawei Licenses in 2024
According to Reuters, the Biden administration has revoked eight licenses this year that permitted some companies to transport items to Huawei…
EU Targets China’s Temu, Shein with Import Duty
The Financial Times reported on Wednesday that three sources told them the EU is considering levying customs tariffs on cheap goods from…
Telegram Enables Paid Content Sharing in Channels
Last month, Telegram introduced a digital currency known as Stars for in-app use and the company is currently expanding its use cases to…
AI Boosts US Venture Capital to 2-year High, Data Shows
U.S. venture capital funding reached $55.6 billion in the second quarter, the largest in two years, according to PitchBook figures released…
Trump Media Added to Russell Indexes in Annual Refresh
On Monday, Trump Media & Technology Group, which owns Truth Social, announced its inclusion in the Russell Indexes’ annual…
Microsoft Merges Retail Channels in China
Microsoft said that it is consolidating its retail channels in mainland China in response to media claims that it is closing its authorized…
Nvidia to Face French Antitrust Charges
Nvidia is set to be charged by the French antitrust regulator for allegedly anti-competitive practices, people with direct knowledge of the…
Google Buys Stake in Taiwan Solar Firm Owned by BlackRock
Google said it had invested in Taiwan’s New Green Power and could acquire up to 300 megawatts of renewable energy from the BlackRock…
Tech Boom Drives Global Markets in 2024’s First Half
The first half of 2024 has been another whirlwind in global markets, with the unstoppable march of the mega caps, sloth-like central bank…
Coinbase Sponsors WNBA Cup
Coinbase hosted a relatively sober evening for female sports enthusiasts The Minnesota Lynx emerged victorious over the New York Liberty at…
Chinese-owned Nexperia invests $200M in Europe
Nexperia, a leading maker of diodes and transistors, announced Thursday that it would invest $200 million to boost capacity at its Hamburg…
‘BlackSuit’ Hacker Hits CDK Global, US Car Dealers
The newest ransomware attack by ‘BlackSuit’ hackers on CDK Global, a software company, impacted auto dealership operations…
Uber Pays U.S. Drivers to Use Other Transport for 5 Weeks
In its latest push to boost revenue and cut emissions, Uber said Thursday that it will give $1,000 in credits to U.S. and Canadian commuters…