BERLIN (Reuters) -Porsche has no plans to shift any part of its production process to the U.S., a spokesperson said on Friday, dismissing a Bloomberg report saying the company was considering such a move to mitigate the effects of tariffs. The luxury carmaker, like Volkswagen’s Audi, does not produce vehicles in the U.S., leaving it…
By Suzanne McGee and Saqib Iqbal Ahmed NEW YORK (Reuters) -Retail investors seem to have spotted an opportunity in the sudden feud between U.S. President Donald Trump and his former ally, Tesla CEO Elon Musk, scooping up shares of the electric car maker as they tumbled on the acrimonious standoff. Trump on Thursday threatened to…
(Reuters) -Milan Kovac, the head of Tesla’s Optimus humanoid robot program, announced his plans to step down in a post on X on Friday. Kovac became the lead of the program in 2022 when he was appointed director of Optimus and Autopilot Engineering, and he took on the role of vice president in September last…
WASHINGTON (Reuters) -President Donald Trump said on Friday that a decision on the next Federal Reserve chair will be coming out soon, adding that a good Fed chair would lower interest rates. “It’s coming out very soon,” Trump told reporters on Air Force One. When asked specifically about former Fed governor Kevin Warsh, Trump said,…
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By Jonathan Stempel (Reuters) -PBS sued Donald Trump on Friday over the U.S. president’s executive order to cut its federal funding, calling it an unconstitutional attack that would “upend public television.” In a complaint filed in the Washington, D.C. federal court, PBS and a public TV station in Minnesota said Trump’s order violated the U.S….
By David Shepardson and Michael Martina WASHINGTON (Reuters) -Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. In a previously unreported May 9 letter to Trump…
(Reuters) -Automakers in the United States, including Tesla, must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday. The comments from Trump, at a press conference marking Tesla CEO Elon Musk’s last official day at the White House as a senior adviser, were…
By Anna Tong, Jeffrey Dastin SAN FRANCISCO (Reuters) -Artificial intelligence developer Anthropic is making about $3 billion in annualized revenue, according to two sources familiar with the matter, in an early validation of generative AI use in the business world. The milestone, which projects the company’s current sales over the course of a year, is…
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