By Svea Herbst-Bayliss and Hyunjoo Jin (Reuters) - Tesla Inc lost $126 billion in value on Tuesday amid investor concerns that Chief Executive Elon Musk may have to sell shares to fund his $21 billion equity contribution to his $44 billion buyout of Twitter Inc. Tesla is not involved in the Twitter deal, yet its shares have been targeted by speculators after Musk declined … [Read more...] about Tesla loses $126 billion in value amid Musk Twitter deal funding concern
Lucid says Saudi Arabia will purchase up to 100,000 vehicles over 10 years
(Reuters) - Electric carmaker Lucid Group Inc on Tuesday said it has signed an agreement with the government of Saudi Arabia for the purchase of up to 100,000 of its vehicles over the next 10 years. Saudi Arabia commits to purchase 50,000 vehicles under the agreement, with an option to buy an additional 50,000 vehicles during the ten-year time frame, Lucid said in a … [Read more...] about Lucid says Saudi Arabia will purchase up to 100,000 vehicles over 10 years
SK Hynix sees solid demand for server chips offsetting weaker mobile, PC demand
By Joyce Lee SEOUL (Reuters) -South Korea's SK Hynix Inc said it expects solid demand for server chips to offset a drop in personal computer shipments and weaker mobile demand growth, especially in China, after its first-quarter profit more than doubled on a year ago. The world's second-biggest memory chipmaker on Wednesday posted a 116% jump in Q1 earnings, supported by solid … [Read more...] about SK Hynix sees solid demand for server chips offsetting weaker mobile, PC demand
Identity check contractor ID.me fires dozens on fraud team as Congress probes
By Paresh Dave OAKLAND, Calif. (Reuters) -A major U.S. government contractor of identity verification technology that is under investigation by Congress has fired 39 employees over the past week for inappropriate communications, the company told Reuters. The company, ID.me, gutted about half of its fraud review team but said the firings were unrelated to a probe U.S. lawmakers … [Read more...] about Identity check contractor ID.me fires dozens on fraud team as Congress probes
LGES Q1 profit falls less than expected as battery sales to Tesla rise
By Heekyong Yang and Byungwook Kim SEOUL (Reuters) -South Korea's LG Energy Solution Ltd (LGES) on Wednesday reported a smaller-than-expected 24% drop in quarterly profit as strong sales of its cylindrical batteries to Tesla Inc offset a hit to production due to chip shortages. Operating profit declined to 259 billion won ($205.01 million) for the January-March period from 341 … [Read more...] about LGES Q1 profit falls less than expected as battery sales to Tesla rise
