(Reuters) -Lucid stuck to its 2025 production forecast on Tuesday despite the threat of tariffs forcing many automakers to pull back targets, while the luxury electric-vehicle maker reported first-quarter revenue below analysts’ expectations. Demand for pure battery cars in the U.S. has been slowing as consumers, hit with high interest rates and recession worries, gravitate…
By Joey Roulette WASHINGTON (Reuters) -SpaceX received key U.S. regulatory approval on Tuesday to increase the annual rate of Starship rocket launches from Texas and booster landings in various bodies of water, allowing Elon Musk’s space company to significantly expand development of its giant Mars rocket. The Federal Aviation Administration, capping a years-long review, said…
By Jonathan Stempel OMAHA, Nebraska (Reuters) -Brooks Running, which is owned by Warren Buffett’s Berkshire Hathaway, is committed to keeping production in southeast Asia even if U.S. President Donald Trump’s proposed tariffs mean consumers will pay more for its performance running shoes, its chief executive said. Dan Sheridan, a 27-year Brooks veteran and chief executive…
(Reuters) -Rivian said on Monday that it will invest $120 million to bring its key parts suppliers near its plant in Illinois, as the electric vehicle-maker seeks to lower the impact of U.S. President Donald Trump’s tariffs on Mexico and Canada. The supplier park near Rivian’s facility at Normal, Illinois will also reduce shipping, logistics…
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase’s artificial-intelligence tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April’s market rout, the bank’s CEO of asset and wealth management said. The largest U.S. lender has been ramping up its use of AI, along with its…
(Reuters) -OpenAI will remain under the control of a non-profit, the startup at the heart of the generative artificial intelligence boom said on Monday, months after it outlined plans to revamp its structure to create a public benefit corporation that would make it easier to raise capital. OpenAI’s non-profit will continue to oversee the company,…
(Reuters) -Shell Plc is working with advisers to evaluate a potential acquisition of rival BP Plc, though it is waiting for further stock and oil price declines before deciding whether to pursue a bid, Bloomberg News reported on Saturday citing people familiar with the matter. The oil major has been more seriously discussing the feasibility…
By Anastasiia Malenko and Max Hunder KYIV (Reuters) -Ukrainian President Volodymyr Zelenskiy said he discussed air defence systems and sanctions on Russia with Donald Trump on the sidelines of Pope Francis’ funeral at the Vatican, in what he called the best meeting the two had ever had. In comments released by his presidential administration, Zelenskiy…
By Koh Gui Qing and Jonathan Stempel OMAHA, Nebraska (Reuters) -When Greg Abel succeeds Warren Buffett at the helm of Berkshire Hathaway at the end of this year, he is expected to preserve the culture at the behemoth even if he does not match the star power of his legendary boss. Abel, 62, now a…
By Olesya Astakhova and Ahmad Ghaddar LONDON/MOSCOW (Reuters) -OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group’s leader Saudi Arabia seeks to punish some fellow members for producing above quotas. OPEC+ shocked oil markets…
