Chinese tech giant records first-ever revenue decline

Chinese tech giant records first-ever revenue decline

Tencent posted its first-ever quarter-over-year revenue decline as tougher gaming regulations in China and a resurgence of Covid-19 in the world’s second-largest economy hit the tech giant. Here’s how Tencent fared in the second quarter, compared to Refinitiv’s consensus estimates: Revenue: 134.03 billion Chinese yuan ($19.78 billion) versus 134.6 billion yuan expected, down 3% year … Read more

Which EVs are eligible for new US tax relief? Websites offer help

Which EVs are eligible for new US tax relief?  Websites offer help

WASHINGTON (AP) — As part of the rollout of a massive new climate, tax and health care bill, the US government is moving forward with its plan to grant new tax credits to electric vehicle buyers. Several new websites were launched Tuesday to help people identify which vehicles qualify for the credits. Based on data … Read more

Trump SPAC has another setback, delays earnings report

Trump SPAC has another setback, delays earnings report

The social media app is developed by Trump Media and Technology Group (TMTG). Rafael Henrique | Light Rocket | Getty Images Digital World Acquisition Group, the special-purpose acquisition company that plans to merge with Trump Media and Technology Group and making it public, is asking for an extension of its earnings report, according to a … Read more

Germany: 1 dead, 9 injured after test car ends up in traffic

Germany: 1 dead, 9 injured after test car ends up in traffic

BERLIN — A test car with autonomous steering power ended up in oncoming traffic in Germany, killing one person and seriously injuring nine others, police said on Tuesday. A police spokesman in the southwestern city of Reutlingen said the electric BMW iX with five people on board, including a young child, veered out of its … Read more

Recession is spreading, warns Peter Boockvar

Recession is spreading, warns Peter Boockvar

There may be no escaping the recession. According to investor Peter Boockvar, the latest housing and manufacturing reports suggest it is quickly spreading to other parts of the economy. “People are not sensitive enough to this economic slowdown and what it will mean for corporate profits and profit margins,” Bleakley Advisory Group’s chief investment officer … Read more

What top tech investor Paul Meeks buys when tech rallies?

What top tech investor Paul Meeks buys when tech rallies?

After a massive flight to safety in the first half of the year, investors are again buying technology, but top tech investor Paul Meeks is far from convinced. “I feel this way, not really because I see fundamentals improving a lot in the near term for most of these companies, but more because it seems … Read more

Elon Musk Says Tesla Has Made More Than 3 Million Cars

Elon Musk Says Tesla Has Made More Than 3 Million Cars

May 17, 2021, Brandenburg, Grünheide: Tesla CEO Elon Musk stands at the Tesla factory construction site and greets with his helmet. Image Alliance | Image Alliance | Getty Images Tesla has made more than three million cars, CEO Elon Musk tweeted Sunday. Of that total, Tesla’s Shanghai factory has made one million cars, according to … Read more

George Soros deals a major blow to Tesla rival Rivian

George Soros deals a major blow to Tesla rival Rivian

It was a somewhat hectic August for Rivian (RIVN) . The startup, which is presented as one of Tesla’s (TSLA) biggest competitor in the race for electric vehicles, setbacks are currently piling up. The electric vehicle manufacturer just announced mixed results for its second quarter. While the company left its forecast to produce 25,000 vehicles … Read more

Billionaire George Soros Bets on Musk’s Tesla and Ford

Billionaire George Soros Bets on Musk’s Tesla and Ford

George Soros appears to have picked his winners in the electric vehicle race. In any case, the emblematic investor stakes his pawns as automakers fight with thunderous announcements to occupy this market, which is considered the future of the car, at least in the medium term. Soros, who until now had been content to invest … Read more

Rivian (RIVN) second quarter 2022 profit

Rivian (RIVN) second quarter 2022 profit

Rivian electric pickup trucks stand in a parking lot at a Rivian service center in South San Francisco, California, on May 9, 2022. Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year expectations for deliveries on Thursday, reporting second-quarter sales that were higher than Wall Street’s expectations. But it revised its … Read more