Musk bullish on Tesla gross sales as value cuts enhance demand

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

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

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

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

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

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

Southwest guarantees refunds as airline sees ‘sure’ monetary affect

WASHINGTON, Dec 29 (Reuters) – Southwest Airways (LUV.N) promised to reimburse passengers for bills similar to accommodations and automotive leases along with refunding tickets after it canceled 1000’s of flights due to an enormous winter storm and mentioned there can be a still-undetermined hit to its earnings. “There’ll actually be an affect to the fourth … Read more

Unique: Musk’s banks to e-book Twitter mortgage losses, keep away from massive hits

NEW YORK, Dec 13 (Reuters) – A few of the banks that lent Elon Musk $13 billion to purchase Twitter are making ready to e-book losses on the loans this quarter, however they’re possible to take action in a means that it doesn’t change into a serious drag on their earnings, in response to three … Read more

Telecom Italia shares boosted by brighter signs for business

Shares hit four month high after results CEO confident on improving outlook Debt-laden company to be restructured MILAN, Nov 10 (Reuters) – Telecom Italia (TIM) (TLIT.MI) shares rose more than 5% to hit a four-month high on Thursday after the former phone monopoly flagged some improvement in its battered domestic business despite tough operating conditions. … Read more

Apple warns of lower iPhone shipments as COVID curbs hobble China plant

Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says a China plant operating at sharply reduced capacity Apple supplier Foxconn revises down Q4 outlook TAIPEI, Nov 7 (Reuters) – Apple Inc (AAPL.O) expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted … Read more