The U.S. Supreme Court on Monday let Meta Platforms Inc’s WhatsApp pursue a lawsuit accusing Israel’s NSO Group of exploiting a bug in the WhatsApp messaging app to install spy software allowing the surveillance of 1,400 people, including journalists, human rights activists and dissidents. The justices turned away NSO’s appeal of a lower court’s decision […]
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Chinese automakers can build an electric vehicle (EV) for 10,000 euros ($10,618) less than European automakers, an overwhelming cost advantage that will put pressure on European manufacturers in their home market, the head of auto supplier Forvia said. As European consumers seek cheap EVs, Forvia Chief Executive Patrick Koller told the CES convention in Las […]
Taiwan’s exports in December likely dropped from a year earlier for the fourth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and COVID-19 controls in China, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc, is […]
Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5 percent of their assets in the company, exceeding the barrier that many portfolio managers will not cross for one equity […]
The S&P 500 finished higher on Wednesday but below its session peak after volatile trading following the release of minutes from the Federal Reserve’s last meeting, which showed officials laser-focused on controlling inflation even as they agreed to slow their interest rate hiking pace. Officials at the Fed’s Dec. 13-14 policy meeting agreed the U.S. […]
U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 […]
Microsoft Corp is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters. Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As […]
Microsoft Corp is in the works to launch a version of its search engine Bing using the artificial intelligence behind OpenAI-launched chatbot ChatGPT, The Information reported on Tuesday, citing two people with direct knowledge of the plans. Microsoft could launch the new feature before the end of March, and hopes to challenge Alphabet-owned search engine […]
More U.S. consumers want to buy an electric vehicle (EV) but are concerned about rising prices, while fewer aimed to purchase gasoline-powered vehicles, a survey by consulting firm Deloitte showed on Wednesday. Nearly 7 in 10 prospective EV buyers in the United States expect to pay less than $50,000 for their next vehicle, according to […]
Wall Street’s main indexes closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve’s interest-rate hiking path as they awaited minutes from its December meeting. Shares in electric vehicle maker Tesla Inc closed down 12 percent after hitting their lowest level […]