Faraday CEO Carsten Breitfeld told that the company will need to raise capital in the second half of the year. Faraday said it would start delivery of its FF91 car in the third quarter this year and expects to make between 6,000 and 8,000 cars in 2023. Faraday Future Intelligent Electric (FFIE.O) will actually want … Read more
Energy executives urge shorter-term efficiency and conservation amid a fuel supply crunch. Companies must scramble to meet climate targets set for 2030. Ukraine crisis will help boost Europe’s transition away from fossil fuels, Enel CEO says. Renewable sources like wind and solar can be tapped domestically in European countries and abroad. Energy executives Energy chiefs … Read more
Confidence among Japanese manufacturers rose in June and was steady in the services sector. The Reuters Tankan closely correlates with the Bank of Japan’s quarterly tankan survey. The monthly poll of 499 large and mid-sized firms polled takes place between June 1-10. Certainty among Japanese manufacturers rose in June and was consistent in the administrations … Read more
Software firm MicroStrategy (MSTR.O) said it has not received a margin call against its bitcoin-backed borrowing on Wednesday. The company borrowed $205 million from crypto bank Silvergate Capital in March, mostly secured against bitcoin. On Tuesday bitcoin’s price briefly dropped below a level company officers had said could trigger extra capital requirements. Programming firm MicroStrategy … Read more
Apple and Major League Soccer announced a 10-year streaming rights deal. All MLS, Leagues Cup and select MLS NEXT Pro matches will be streamed on the Apple TV app. Financial Times reported the deal is worth $2.5 billion, citing people familiar with the matter. Major League Soccer and Apple TV (AAPL.O) declared an organization on … Read more
Warner Bros Discovery is looking to cut up to 30% or nearly 1,000 jobs in its global advertising sales team. The company’s finance chief Gunnar Wiedenfels in April reaffirmed its goal of achieving $3 billion in cost savings after a $43 billion merger. Warner Bros Discovery Inc (WBD.O)is hoping to slice up to 30% or … Read more
Stellantis NV (STLA.MI) said on Tuesday it will begin an indefinite layoff starting next week. The world’s fourth-largest carmaker did not specify the number of employees being laid off. Earlier this month, Stellantis stopped operations at its key Melfi plant in Italy for a week. Automaker Stellantis NV (STLA.MI) said on Tuesday it will start … Read more
Legislation aimed at reining in the market power of Big Tech platforms like Amazon. Representative David Cicilline, chair of a House antitrust subcommittee, says he is confident the bills will pass. Senator Amy Klobuchar said last week that she had enough support in the Senate to win passage. A top Democratic legislator on antitrust issues … Read more
Oil prices fall ahead of the U.S. Federal Reserve meeting. The central bank is expected to raise rates by at least 75 basis points. OPEC sees demand growth slowing next year, as oil prices help drive up inflation and act as a drag on the global economy. Oil prices dropped on Wednesday on stresses over fuel … Read more
Lynas is the world’s largest processor of rare earth outside China. Follows ‘Phase 1’ funding for a facility announced in July 2020. The project is expected to be built on the Texas Gulf Coast and be operational in 2025, the company said. The plant would be first outside China able to separate heavy rare elements. … Read more
Westpac-Melbourne Institute index of consumers in Australia sentiment slumps 4.5% in June from May when it dropped 5.6%. The drop follows the Reserve Bank of Australia’s (RBA) decision to raise interest rates by a surprisingly large 50 basis points. A proportion of consumers in Australia slid for a seventh consecutive month to match pandemic lows … Read more
Qatar Airways and Airbus are at loggerheads over the airworthiness of Europe’s newest long-haul jet. Damage to outer skin exposed a layer of lightning protection and prompted Qatar to ground more than 20 jets. European Union Aviation Safety Agency: “We saw no damage which could imply safety issues”. Europe’s top flying security controller said on … Read more
Netflix has greenlit “Squid Game: The Challenge”. The 10-episode reality competition will include games inspired by the original show, as well as new additions. It will be filmed in the UK and will feature 456 players vying for $4.56 million. Netflix Inc’s (NFLX.O) most-watched programme is as of now not simply a fictious network show … Read more
Petrobras management told the government on Monday that Brazil’s diesel and gasoline prices are lagging behind international markets. The final decision depends on factors like oil prices and the exchange rate, “but the idea is to hold,” a source says. Congress has approved a bill that caps the ICMS state tax on fuels and other … Read more
Executives insist fossil fuels, especially natural gas, are still needed at a time when global markets grapple with tight energy supplies and skyrocketing prices. Governments worldwide have shifted their focus from sustainability and the energy transition to concerns about a global supply crunch and demands for more oil and gas. Energy organization leaders at a … Read more
The study finds drugs not effective in reducing symptoms in standard-risk patients. The drug has emergency use authorization for high-risk groups. Data from Israel shows drug reduces hospitalization and death rates in vaccinated and unvaccinated patients 65 years and older, but was not found to prevent severe illness. Pfizer Inc (PFE.N) said on Tuesday it … Read more
Cryptocurrencies prices have dropped sharply in recent weeks, with bitcoin hitting an 18-month low on Tuesday. FINRA has several dozen members that have been approved to trade digital asset securities. The regulator is also looking at whether it can do cross-market surveillance on various blockchains. The Financial Industry Regulatory Authority intends to expand its assets … Read more
He talks with the British ambassador to Germany about the possibility of a post-Brexit trade war. And he asks what EU leaders are planning for if the UK makes unilateral changes to the Northern Ireland deal. Lately, I have been hearing a great deal – both openly and secretly – from EU pioneers, and from … Read more
