Anticipating US downturn, Elon Musk details Tesla staff cuts

Anticipating US downturn, Elon Musk details Tesla staff cuts

DOHA, June 21 (Reuters) – Elon Musk, CEO of Tesla (TSLA.O), said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a US recession was more likely than not. His remarks were his most detailed explanation of job cut plans and his … Read more

Crypto’s latest meltdown leaves punters bruised and bewildered

Crypto's latest meltdown leaves punters bruised and bewildered

LONDON/MUMBAI/ANKARA, June 21 (Reuters) – For Jeremy Fong, US crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “I was probably earning $100 a week,” at sites like Celsius, said Fong, a 29-year civil aerospace worker who … Read more

Crypto industry gripped by anxiety as bitcoin wobbles near key $20,000 level

Crypto industry gripped by anxiety as bitcoin wobbles near key $20,000 level

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/File Photo Register now for FREE unlimited access to Reuters.com Register HONG KONG, June 20 (Reuters) – The cryptocurrency industry was on edge on Monday morning as investors feared contagion from … Read more

Warren Buffett charity lunch fetches record winning bid of $19 million

Warren Buffett charity lunch fetches record winning bid of $19 million

June 18 (Reuters) – A wealthy person has bid a record $19 million to eat lunch with Warren Buffett, in the 21st and final time that the billionaire businessman auctioned a private lunch to benefit a San Francisco charity. The winning bid at the eBay auction, which ended on Friday, far surpassed the previous record … Read more

How free-wheeling Texas became the self-driving trucking industry’s promised land

How free-wheeling Texas became the self-driving trucking industry's promised land

FORT WORTH, Texas, June 17 (Reuters) – For companies working to make self-driving trucks a near-term reality, all roads lead to Texas. Vast highways, a booming freight market and, crucially, the least restrictive laws governing autonomous vehicles (AVs) in the United States have turned Texas into the industry’s most desired location. Several companies, including Aurora … Read more

EXCLUSIVE China’s central bank accepts Ant’s application for financial holding company – sources

EXCLUSIVE China's central bank accepts Ant's application for financial holding company - sources

A logo of Ant Group is pictured at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register PBOC taking application signals license may come soon – sources Financial holding license to pave way for Ant market … Read more

Elon Musk’s SpaceX fires at least five over critical letter

Elon Musk's SpaceX fires at least five over critical letter

SpaceX founder and CEO Elon Musk arrives to see off the Inspiration 4 crew, the first all-civilian crew to be sent into orbit, before they head to the SpaceX Falcon 9 rocket on Pad 39A at the Kennedy Space Center in Cape Canaveral, US, September 15, 2021. REUTERS/Joe Skipper/File Photo Register now for FREE unlimited … Read more

SpaceX employees denounce CEO Musk as “distraction” – letter

SpaceX employees denounce CEO Musk as "distraction" - letter

Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo Register now for FREE unlimited access to Reuters.com Register Orlando, Fla., June 16 (Reuters) – A group of SpaceX employees derided flamboyant billionaire Chief Executive Officer Elon Musk as a … Read more

Bitcoin sinks to fresh 18-month low as crypto meltdown deepens

Bitcoin sinks to fresh 18-month low as crypto meltdown deepens

LONDON/NEW YORK, June 15 (Reuters) – Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72 , its lowest since December 2020. It has … Read more

South Korea strike disrupts shipments of key cleaning agent for chipmaking

South Korea strike disrupts shipments of key cleaning agent for chipmaking

Union, government to set to resume talks Cargoes of petrochemical materials still blocked Shipments of soju liquor down to 60% of normal SEOUL, June 14 (Reuters) – A nationwide strike by truck drivers in South Korea has disrupted shipments to China of a key cleaning agent used by makers of semiconductor chips, the Korean International … Read more