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Lucid shares stumble on dour EV production target as price war weighs, article with image

Feb 23 (Reuters) – Shares of Lucid Group Inc (LCID.O) slumped 10% in premarket trading on Thursday after the electric vehicle maker’s 2023 production targets fell short of expectations amid waning demand and a price war unleashed by market leader Tesla Inc (TSLA.O). Lucid expects to produce 10,000 to 14,000 luxury electric vehicles this year,… Continue reading Lucid shares stumble on dour EV production target as price war weighs, article with image

Factbox: Company reaction to the U.S. Inflation Reduction Act, article with gallery

Feb 22 (Reuters) – Companies across North America and Europe have in recent months cheered the Biden Administration’s $430 billion U.S. Inflation Reduction Act (IRA) that includes major provisions to cut carbon emission, boost domestic production and manufacturing. The act, signed into a law late last year by President Joe Biden, has also sparked a… Continue reading Factbox: Company reaction to the U.S. Inflation Reduction Act, article with gallery

Mercedes-Benz cars to have ‘supercomputers’, unveils Google partnership, article with image

BERLIN, Feb 22 (Reuters) – Mercedes-Benz (MBGn.DE) said on Wednesday it has teamed up with Google (GOOGL.O) on navigation and will offer “super computer-like performance” in every car with automated driving sensors as it seeks to compete with Tesla (TSLA.O) and Chinese newcomers. Automakers new and old are racing to match software-powered features pioneered by… Continue reading Mercedes-Benz cars to have ‘supercomputers’, unveils Google partnership, article with image

Luminar, Mercedes-Benz expand deal for self-driving tech, article with image

Feb 22 (Reuters) – Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. Tech firms such as Alphabet… Continue reading Luminar, Mercedes-Benz expand deal for self-driving tech, article with image

Pirelli sees scope for higher 2023 revenues after strong results, article with image

Feb 22 (Reuters) – Italian tyremaker Pirelli (PIRC.MI) said on Wednesday it expects revenues this year of some 6.6-6.8 billion euros, at least in line with the better-than-expected figure for 2022. Revenues at the group totalled 6.62 billion euros ($7.03 billion) in 2022, beating a target of about 6.5 billion euros which was set only… Continue reading Pirelli sees scope for higher 2023 revenues after strong results, article with image

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Feb 22 (Reuters) – A federal judge in Austin, Texas on Tuesday rejected a request by Meta Platforms Inc’s (META.O) to throw out a $175 million jury patent verdict for walkie-talkie app maker Voxer Inc. U.S. District Judge Lee Yeakel’s decision leaves intact the jury’s finding that Meta’s Facebook Live and Instagram Live live-streaming technology… Continue reading Untitled

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Feb 22 (Reuters) – U.S. chipmaker Intel Corp (INTC.O) said on Wednesday it would lower its quarterly dividend as a part of its strategy to improve capital amid uncertain times. The company had in January warned it would lose money in the first quarter as two of its most important markets – personal computers and… Continue reading Untitled

Technologycategory

Comcast takes advantage of AI rally to sell more BuzzFeed shares, article with image

Feb 22 (Reuters) – Comcast Corp has cut its stake in BuzzFeed Inc by 8.5% since the end of January, cashing in on a rally in the shares of the digital media company on reports of a plan to partner with OpenAI, the artificial intelligence firm behind ChatGPT. A regulatory filing by Comcast (CMCSA.O) on… Continue reading Comcast takes advantage of AI rally to sell more BuzzFeed shares, article with image