Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Honda to start producing new hydrogen fuel cell system co-developed with GM

TOKYO, Feb 2 (Reuters) – Japan’s Honda Motor Co ( 7267.T ) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co ( GM.N ) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. Honda will target annual sales of … Read more

Exclusive: EV maker Rivian to cut 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching … Read more

Biden moves to slash US credit card fees, app charges

WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, … Read more

Film academy says it will not disqualify surprise Oscar nominee Riseborough

LOS ANGELES, Jan 31 (Reuters) – Hollywood’s motion picture academy will not revoke the unexpected best actress nomination for “To Leslie” star Andrea Riseborough, the group’s chief executive said on Tuesday after a review of an aggressive campaign on her behalf. Riseborough was nominated for best actress for playing an alcoholic single mother in the … Read more

End of easy-cash era is going to hurt

LONDON, Feb 1 (Reuters) – The end of the easy-cash era is over and its impact has yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. US and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central … Read more

AMD revenue beats targets, Wall St relieved after Intel’s grim outlook

Jan 31 (Reuters) – US chip maker Advanced Micro Devices Inc (AMD.O) on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s forecast was behind … Read more

US seeks Tesla driver-assist documents; company hikes capex forecast

WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday it had received requests from the US Justice Department for documents related to its Full Self-Driving and Autopilot driver-assistance systems as regulatory scrutiny intensifies. Reuters reported in October Tesla is under criminal investigation over claims that the company’s electric vehicles could drive themselves. The … Read more

Alec Baldwin, armorer to be charged over ‘Rust’ shooting

Jan 31 (Reuters) – Actor Alec Baldwin and armorer Hannah Gutierrez-Reed will be charged on Tuesday with involuntary manslaughter for the fatal shooting of cinematographer Halyna Hutchins on the set of Western “Rust” in 2021, a New Mexico prosecutor said. The charges follow 15 months of speculation whether District Attorney Mary Carmack-Altwies would find evidence … Read more

Norway wealth fund posts record $164 billion loss

Loss in 2022 exceeds previous record from 2008 Inflation, geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a … Read more