Tesla’s first-quarter net income plummeted 55 per cent, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate the production of new, more affordable vehicles. The Austin-based company said it made $1.13 billion US from January through March compared with $2.51 billion US in the same period a year ago. … Read more
New Delhi: Investors are closely monitoring Q4 earnings and geopolitical events, which are poised to shape market direction, says Vinod Nair, Head of Research at Geojit Financial Services. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude prices upward, impacting overall market sentiment, he said. Investors’ hopes for a June rate … Read more
Prime Minister Justin Trudeau says a new $1.5-billion housing fund will help non-profit organizations acquire more rental units across Canada and make sure they remain affordable. The new Canada Rental Protection Fund will be included in the upcoming federal budget, to be tabled on April 16. The fund will provide $1 billion in loans and … Read more
New Delhi: Embattled edtech company Byju’s on Friday held its extraordinary general meeting (EGM) called by the board of directors to raise the capital via the rights issue without any hassles. The EGM, called to increase Byju’s authorised share capital, met with no objection and none of the key investors who went to the National … Read more
Former crypto mogul Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in the 2022 collapse of FTX, which once was one of the world’s most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted on seven charges in November related to fraud and conspiracy. A jury found that Bankman-Fried … Read more
New Delhi: Social media platform ShareChat has raised $48.8 million via convertible debentures from its existing investors that include Temasek and Lightspeed. Startup news website Inc42 reported on Wednesday, citing the startup’s regulatory filings, that the funding round will help ShareChat “navigate the path to profitability in the next 12 to 15 months”. The company … Read more
Boeing CEO Dave Calhoun will step down from the embattled plane-maker at the end of the year as part of a broader management shuffle, capping a tumultuous five-plus years that have shaken faith in one of the U.S.’s most-storied manufacturers. In a letter to employees announcing his departure, Calhoun wrote that the company is focused on returning Boeing “to … Read more
The Biden administration on Wednesday slashed its target for U.S. electric vehicle adoption from 67 per cent by 2032 to as little as 35 per cent after industry and autoworker backlash in the political battleground state of Michigan. The Environmental Protection Agency (EPA) instead adopted a “technology neutral” regulatory scheme that allows automakers far more freedom … Read more
FPI New Delhi: The trend of rising foreign portfolio investment in India witnessed in the first week of March continued in the second week, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. FPIs were big sellers in January and modest buyers in February. But in March they turned big buyers having bought equity … Read more
The bill is yet to pass the Senate, where it is expected to face a tougher test to become law. 03:10 Protests at US Congress after House passes bill that could potentially ban TikTok nationwide Protests at US Congress after House passes bill that could potentially ban TikTok nationwide The White House has said President … Read more
