WASHINGTON: Members of Congress will meet on Thursday, according to Reuters, to begin negotiations on a compromise deal that would provide $52 billion in subsidies to the semiconductor industry while also strengthening US competitiveness with Chinese technology. The Senate passed its version of the bill in June 2021, while theContinue Reading
Ford Motor is selling 8 million Rivian Automotive share with the insider lockup for the formerly high-flying electric vehicle maker scheduled to expire on Sunday. The automaker now owns 102 million shares in Rivian. Ford will sell the stock through Goldman Sachs, according to sources. After a company goes public,Continue Reading
The finance ministry told AFP it was examining the issue and wants a uniform European framework, but there is mounting pressure to move quickly. “Portugal has become a tax shelter,” Mariana Mortagua, a far-left MP, has stated flatly. Even those who work in the cryptocurrency industry recognise that things mustContinue Reading
According to a court petition seen by Reuters, Xiaomi’s top executives were threatened with “physical assault” and coercion while being questioned by India’s financial crime combating agency. According to Xiaomi’s filing dated May 4, officials from the Enforcement Directorate warned Manu Kumar Jain, the company’s former India managing director, andContinue Reading
The Biden administration announced on Monday that it will launch a $3.1 billion strategy to enhance local battery manufacture as part of a larger push to transition the country away from gas-powered automobiles and toward electric vehicles. The transportation sector’s electrification will be essential in combating human-caused climate change. TransportationContinue Reading
Raxium, a five-year-old startup with MicroLED technology that might be important in constructing a new generation of augmented, virtual, and mixed reality headsets, was bought by Google today, according to Google hardware executive Rick Osterloh. This adds to the evidence that Google’s next big AR move is getting closer: theContinue Reading
Mark Zuckerberg, CEO of Meta Platforms Inc. (FB.O), teased a new smart glasses project with EssilorLuxottica (ESLX.PA) on Wednesday, posting a photo of the eyewear company’s chairman wearing a prototype of a neural interface wristband – designed to control other devices. “Here, Leonardo is wearing a prototype of our neuralContinue Reading
Lyft stock fell 29.9% on Wednesday as investors expected the firm to face short-term difficulties. After the bell on Tuesday, Lyft posted better-than-expected top and bottom-line results. However, because to rising gas prices, the business offered low second-quarter guidance and indicated it would have to continue spending on driver incentives,Continue Reading
Uber reported higher first-quarter revenue on Wednesday, citing a recovery from its coronavirus lows and the fact that it would not need to make “significant” efforts to retain drivers on the platform. It did, however, disclose a $5.9 billion loss over the year, which was mostly due to the devaluationContinue Reading
The Securities and Exchange Commission of the United States is probing Didi following its tainted initial public offering, putting further more pressure on the Chinese ride-hailing behemoth. The SEC contacted Didi after the firm went public, according to the company’s annual report, which was released on Monday. Didi stated thatContinue Reading
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