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

Wall Street set for bounceback but recession risk keeps investors cautious

Wall Street set for bounceback but recession risk keeps investors cautious

LONDON, June 21 (Reuters) – Wall Street was set to open higher on Tuesday and European shares were set for a second day of gains, recovering slightly from last week’s 17-month lows, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, … Read more

Thousands walk out in Britain’s biggest rail strike in 30 years as Johnson vows to stay firm

Thousands walk out in Britain's biggest rail strike in 30 years as Johnson vows to stay firm

More than 40,000 rail workers walk out Government under pressure over cost-of-living crisis Unions say strike may start ‘summer of discontent’ LONDON, June 21 (Reuters) – Tens of thousands of workers walked out on the first day of Britain’s biggest rail strike in 30 years on Tuesday with passengers facing further chaos as both the … 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

Tesla cars barred for 2 months in Beidaihe, site of China leadership meet

Tesla cars barred for 2 months in Beidaihe, site of China leadership meet

A Tesla logo is seen at a Tesla showroom in Shanghai, China January 7, 2019. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register SHANGHAI, June 20 (Reuters) – Tesla (TSLA.O) cars will be prohibited from entering the Chinese coastal district of Beidaihe, site of a secretive annual summer party leadership conclave, for … Read more

Fed’s Waller backs another big rate hike for ‘all in’ inflation fight

Fed's Waller backs another big rate hike for 'all in' inflation fight

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, US, June 14, 2022. REUTERS/Sarah Silbiger Register now for FREE unlimited access to Reuters.com Register June 18 (Reuters) – Federal Reserve Governor Christopher Waller on Saturday became the latest US central banker to pledge a whatever-it-takes approach to fighting … 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

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

BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ maintains ultra-low rates, warns it is closely watching yen moves

BOJ keeps interest rate targets unchanged, as expected BOJ says watching impact of FX moves on economy No change to dovish policy guidance BOJ Gov Kuroda to brief media 0630 GMT TOKYO, June 17 (Reuters) – The Bank of Japan maintained ultra-low interest rates on Friday and its guidance to keep borrowing costs at “present … Read more