RES

Norway wealth fund posts document $164 bln loss

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Loss in 2022 exceeds earlier document from 2008 Inflation, geopolitical tensions stay threat elements Document influx of cash from oil and gasoline trade OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of many world’s largest buyers, posted a document lack of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an finish a three-year … Read more

Musk outlines Tesla’s recession playbook: claw again prices

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Jan 26 (Reuters) – Elon Musk has a playbook for Tesla (TSLA.O) headed into what he believes shall be a “severe” recession: reduce prices on every part from components to logistics, whereas protecting the strain on rivals with discounted sticker costs. In a convention name to debate Tesla’s fourth-quarter outcomes, Musk and different executives outlined … Read more

Musk bullish on Tesla gross sales as value cuts enhance demand

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Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive value cuts have ignited demand for its electrical automobiles, Chief Govt Elon Musk mentioned on Wednesday, enjoying down considerations {that a} weak economic system would throttle patrons’ curiosity. The corporate barely beat Wall Road targets for fourth-quarter income and revenue earlier on Wednesday regardless of a pointy … Read more

IBM cuts 3,900 jobs, misses annual money goal

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Jan 25 (Reuters) – IBM Corp (IBM.N) on Wednesday introduced 3,900 layoffs as a part of some asset divestments and missed its annual money goal, dampening cheer round beating income expectations within the fourth quarter. Chief Monetary Officer James Kavanaugh advised Reuters that the corporate was nonetheless “dedicated to hiring for client-facing analysis and improvement”. … Read more

Goldman misses revenue estimates as dealmaking slumps, client enterprise hit

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Jan 17 (Reuters) – Goldman Sachs Group Inc (GS.N) on Tuesday reported a bigger-than-expected 69% drop in fourth-quarter revenue because it struggled with a droop in dealmaking, a drop in asset and wealth administration income and booked losses at its client enterprise. Wall Avenue banks are making deep cuts to their workforce and streamlining their … Read more

S&P 500 ends at highest in month, indexes acquire for week as earnings kick off

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JPMorgan, Wells Fargo shares leap U.S. customers’ inflation expectations ease – survey Tesla falls after value cuts on electrical autos Indexes: Dow up 0.3%, S&P 500 up 0.4%, Nasdaq up 0.7% NEW YORK, Jan 13 (Reuters) – The S&P 500 and Nasdaq completed at their highest ranges in a month on Friday, with shares of … Read more

TSMC cuts 2023 capex after file This fall as chip demand weakens

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This fall revenue T$295.9 bln vs T$289.44 bln analyst view This fall income up 26.7% on yr at $19.93 bln Sees 2023 capex at $32-36 bln vs $36.3 bln yr prior Firm plans to ramp up manufacturing abroad TAIPEI, Jan 12 (Reuters) – Taiwanese chipmaker TSMC (2330.TW) warned on Thursday that first-quarter income would drop … Read more

GM reclaims U.S. auto gross sales crown from Toyota

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Jan 4 (Reuters) – Basic Motors Co (GM.N) reclaimed the highest spot in U.S. auto gross sales from rival Toyota Motor Corp (7203.T) in 2022 because it was capable of higher meet sturdy demand for vehicles and vehicles regardless of industry-wide provide disruptions. Shares of GM rose 2.7% in afternoon commerce on Wednesday to $34.75, … Read more

Tesla shares endure New 12 months’s hangover on demand worries, supply points

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Inventory high S&P 500 loser on first buying and selling day of 2023 Selloff knocks off $50 billion from market cap Tesla misses This autumn automobile deliveries estimate EV firm continues to be the world’s most beneficial automaker Jan 3 (Reuters) – Tesla Inc (TSLA.O) shares kicked off 2023 with a thud, plunging greater than … Read more

Tesla experiences document quarterly deliveries however misses estimates

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Uncommon for Tesla to ship lower than it produces Tesla inventory in 2022 had its worst 12 months since going public Jan 2 (Reuters) – Tesla Inc (TSLA.O) on Monday reported document manufacturing and deliveries for fourth-quarter electrical autos, however it missed Wall Avenue estimates, burdened by logistics issues, slowing demand, rising rates of interest … Read more