(Reuters) -Lucid Group said on Friday it would reduce its workforce by 6%, or around 400 employees, as the electric vehicle industry grapples with slower growth. Shares of the EV maker rose around 2% in premarket trading. The company expects to incur a total of around $21 million to $25 million in charges related to…
(Reuters) – Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks. Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast,…
By David Shepardson and Allison Lampert WASHINGTON (Reuters) -The U.S. Federal Aviation Administration (FAA) is investigating a Boeing whistleblower’s claims that the company dismissed safety and quality concerns in the production of the planemaker’s 787 and 777 jets, an agency spokesperson said on Tuesday. The planemaker has been grappling with a full-blown safety crisis that…
(Reuters) – Dell Technologies is assembling half of the racks for the supercomputer that xAI is building, billionaire Elon Musk said in a post on social media platform X on Wednesday. The U.S. businessman has recently told investors that his artificial intelligence startup xAI is planning to build a supercomputer to power the next version…
By David Shepardson WASHINGTON (Reuters) -The chair and top Democrat on the House select committee on China will announce Tuesday they are launching a bipartisan working group to reduce China’s dominance of critical mineral supply chains. Representative John Moolenaar, the committee chair, and Raja Krishnamoorthi, the top Democrat, said the new working group will help…
FRANKFURT (Reuters) -Porsche on Friday reported a 30% drop in first-quarter operating profit, citing higher investments in what the German luxury carmaker has called its biggest year of product launches in history. Operating profit in the first three months of 2024 came in at 1.28 billion euros ($1.37 billion), in line with an LSEG estimate,…
By Jonathan Stempel NEW YORK (Reuters) – New York Attorney General Letitia James sued two cryptocurrency companies and their promoters, saying they defrauded hundreds of thousands of victims out of more than $1 billion by preying on the religious faith of people from Haitian and other immigrant communities. In a lawsuit filed on Thursday in…
By Angelo Amante ROME (Reuters) – Israel must comply with international law in Gaza and address the devastating humanitarian crisis in the Palestinian enclave, a group of Western nations wrote in a letter to the Israeli government seen by Reuters on Friday. All countries belonging to the Group of Seven (G7) major democracies, apart from…
(Reuters) – Shares of Reddit rose 14% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to draw in more users for the social media platform with AI-enhanced experience and attract more advertising revenue. The stock was trading at $64.25 premarket, in touching distance of the highest closing price of $65.11…
(Reuters) – COVID-19 vaccine makers said data from animals studies showed their 2024-25 shots targeting the JN.1 variant that was dominant earlier this year could neutralize newer subvariants such as KP.2 much better than the older shots. This was disclosed in presentations by the companies ahead of a meeting of the U.S. Food and Drug…
