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FINANCIAL NEWS
Rivian shares fall sharply after recalling 13,000 of its electric vehicles

Shares of Rivian fell sharply Monday after the California-based company said it would recall nearly all of its vehicles.

Uber inks 10-year deal with Motional to launch robotaxis in the US

Last week, Uber Technologies inked a 10-year deal with Motional, a joint venture between Hyundai Motor Group and Aptiv that offers driverless rides and enables food deliveries through its ordering service using Motional's new all-electric IONIQ 5-based robotaxis.

Mastercard launches new fraud protection tool to assess crypto exchanges

Mastercard on Tuesday launched a new piece of software that helps banks identify and cut off crypto exchanges prone to fraudulent transactions.

Micron agrees to invest up to $100 billion in New York chip factory

Adding to a wave of chip-making plans in the US, Micron Technology Inc. agreed to invest as much as $100 billion to build a semiconductor-manufacturing campus in upstate New York.

Sony aims high for its next virtual reality headset, shares climb

Aiming high for the launch of its next virtual reality headset, videogame giant Sony plans to make two million units of the PlayStation VR2 by March 2023.

Tesla deliveries bounce back but still short of Street estimates

In its most recent quarter, Tesla Inc.'s vehicle deliveries rebounded to 343,830, a new record and turnaround from earlier this year when a shutdown at its China factory and other challenges affected how many vehicles it managed to get into customers' driveways.

Apple's share of the mega-cap market appears unchallenged by Tesla's stock

Of the five biggest US companies by market value, Tesla’s shares are by far the most expensive, yet they’re the only ones whose performance comes close to Apple’s, a rarity for investors in the sector.

Walmart makes its first Moves into the Metaverse with Roblox Experiences

To target the next generation of shoppers, Walmart is opening a new superstore that comes with all the luxuries - from clothes, a roller skating rink, a Ferris wheel, and now - the metaverse.

Nio Inc. shares climb after Buying Stake in Greenwing Resources

Shares of Nio Inc. are up 2.78% in mid-day trading Monday, following an announced strategic funding transaction with Australian lithium firm - Greenwing Resources.

Hackers access and leaks footage of latest "Grand Theft Auto," says Take-Two

In a securities filing Monday, Take-Two Interactive Software Inc. disclosed hackers broke into the networks of its Rockstar Games Inc. unit, illegally accessing early-development footage of the company's next "Grand Theft Auto" video game.

Salesforce introduces new profitability goal alongside host of new products

The enterprise software maker, Salesforce, announced a new long-range profitability goal that showed the company's determination to operate more efficiently. At the Dreamforce conference Wednesday, Salesforce introduced a host of new products, including "Genie" and "Slack Canvas."

Ford pushes new rules for US dealers to sell its electric cars

On Wednesday, Ford Motor Co. released strict new rules for US dealers to sell its electric vehicles, including requiring fixed prices and upfront investment in chargers as the automaker attempts to cut overhead costs and boost profits.

Adobe agrees to buy startup Figma to expand creative offerings, shares plunge

Technology giant Adobe Inc. agreed Thursday to acquire design-software startup Figma Inc. in a deal valued at roughly $20 billion as it expands its range of creative tools for professionals.

Roblox shares climb on plans to debut 3D advertising next year

At its annual developer conference Friday, online gaming firm Roblox Corp. announced it plans to debut 3D ads next year as it strives to diversify its revenue stream beyond in-game purchases.

Meta Platforms acquires technology startup Lofelt as it expands VR footprint

Facebook parent Meta Platforms Inc. said it has acquired Lofelt, a Berlin technology startup aiming to replicate the illusion of touch in virtual reality.

Mercedes-Benz and Rivian enters partnership to make electric vans in Europe

On Thursday, Mercedes-Benz Vans and Rivian announced they are partnering to establish a new European factory that would produce electric vans for both brands, sending Rivian shares up about 6%.

Snap share surge on plans to cut costs across the board

Shares of Snap Inc., the parent company of social media app Snapchat, surged as much as 14.9% Wednesday following news of the company's plan to cut costs.

Chip stocks tumble amid latest US restrictions, affects Nvidia's China business

US chip stocks tumbled Thursday after government officials told them to stop exporting cutting-edge processors for artificial intelligence to China.

Meta stock slide after reporting first-ever revenue decline

For the first time, Facebook parent Meta Platforms Inc. posted a decline in revenue and issued a muted outlook as it competes with rival TikTok.

Nvidia gives dismal forescast on "challenging" market conditions

Graphics chip designer Nvidia on Wednesday issued a weak forecast for the third quarter on the back of a weakening gaming industry, sending its shares down 4.7% in after-hours trading following the results.

Netflix denies reports on pricing for ad-supported tier, still in discussions

Streaming giant Netflix refuted recent claims of pricing estimates by Bloomberg, which suggested the new add-supported streaming tier will have a monthly cost of $7 to $9 as it competes with Walt Disney.

Ford cuts 3,000 jobs as the company shifts its focus to electric vehicles

Ford Motor Co. confirmed Monday it is cutting roughly 3,000 white-collar and contract jobs in its latest efforts to reduce costs and fund its $50 billion transition to electric vehicles.

Coinbase loses market share amid investors' crypto winter fears

Crypto giant Coinbase's market share fell from highs of 10.7% in January to 6.3% in July, a sign that the largest US cryptocurrency exchange is losing ground.

AMC stock witness sixth straight day rally amid market-growth optimism

As meme stocks came back into vogue by retail investors, spurred by the market's growing optimism, shares of AMC Entertainment Holdings climbed on Monday, on pace to complete a six-day winning streak.

Micron invest in US chip manufacturing despite warning of demand slowdown

Micron announced Tuesday it would invest $40 billion over the next decade to manufacture chips in the US despite its latest comments citing a worsening market.

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