Economy

Economy
Economy

Elon Musk says Tesla has started producing cybecabs

Tesla Inc. has started manufacturing its long-awaited Cybercab robotaxi, Chief Executive Officer Elon Musk said in a post on social media platform X. https://twitter.com/elonmusk/status/2047574971774611553?s=46 The announcement marks a key milestone in the company’s push into autonomous ride-hailing, even as its global vehicle sales continue to face pressure. Musk indicated that production ramp-up for the Cybercab

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Economy

Pound edges higher but set for weekly loss amid Middle East tensions

The British pound rose marginally against the US dollar on Friday but remained on track for a weekly loss, as geopolitical uncertainty and cautious market sentiment continued to weigh on currency movements. Sterling was up 0.1% at $1.348, as broader foreign exchange markets remained largely range-bound. However, despite the modest daily gain, the currency was

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Economy

Intel stock skyrockets 28%, so why are analysts still saying sell?

Intel stock (NASDAQ: INTC) soared as much as 28% in premarket trading on Friday after the chipmaker posted stronger-than-expected first-quarter earnings. The company issued second-quarter revenue guidance that topped Wall Street forecasts. For a company long written off as a laggard in the AI race, the move was a sharp reminder that sentiment can change

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Economy

FTSE 100 slips as Iran crisis dampens investor confidence

UK equities moved lower on Friday and were on track for weekly losses, as fading hopes of a swift resolution to the Iran conflict and a warning from the Bank of England weighed on investor sentiment. The benchmark FTSE 100 index fell 0.6% to 10,391.16 points by 1005 GMT. The blue-chip index was set for

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Economy

Lucid stock just crashed to a record low: will it rebound after earnings?

Lucid Group stock price crashed to a record low this week, continuing a downtrend that has been going on for years. It plunged to a low of $6.27, bringing its market capitalization to $2 billion. So, will the downward trend continue ahead of its earnings report on May 5? Lucid Group stock is crashing despite

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Economy

Hormuz traffic slows, but Iran already has 2.5 months of oil supply at sea

Shipping traffic through the Strait of Hormuz has slowed dramatically, with only five vessels, including a single Iranian oil products tanker, passing through in the last 24 hours, according to Friday’s shipping data.  The sharp decrease follows Iran’s seizure of two container ships this week and an ongoing US blockade of Iranian ports, escalating maritime

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Economy

EU green bond fund aims to mobilise 20 billion euros

The European Union has partnered with financial institutions to launch the Global Green Bond Initiative Fund, aiming to mobilise up to €20 billion ($23.43 billion) in private capital for sustainable infrastructure projects in low- and middle-income countries. The initiative reflects the EU’s broader push to expand climate-focused financing while supporting economic development in emerging markets.

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Economy

Dow slips 179 pts as S&P 500, Nasdaq rise on Iran talk hopes

US stocks edged higher on Friday, supported by renewed optimism around potential diplomatic progress between Washington and Tehran, alongside strong momentum in semiconductor stocks led by Intel. The S&P 500 rose about 0.25%, while the Nasdaq 100 climbed 1.2%. The Dow Jones Industrial Average, however, was down 179 points. The cautious optimism follows reports that

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Economy

P&G beats estimates, stock jumps as volume growth returns after a year

Procter & Gamble exceeded analyst expectations for quarterly earnings and revenue, reporting its first volume growth in a year and sending the company’s shares up approximately 3.3% on Friday. For its fiscal third quarter, P&G reported net income attributable to the company of $3.93 billion, or $1.63 per share, an increase from $3.78 billion, or

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Economy

SAP jumps 7% on earnings beat as cloud growth eases AI fears

Shares in SAP rallied on Friday after the German software giant reported better-than-expected first-quarter profit and reaffirmed its long-term cloud outlook. The strong result came even as concerns around artificial intelligence continue to weigh on the broader sector. SAP’s American depositary receipts rose 7.3% to $175.31, recovering from a 6.2% decline in the previous session.

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