EV maker Lucid Group said on Monday it would cut about 18% of its U.S. workforce and announced COO Marc Winterhoff had left the company, marking its second major executive change in recent months as it tries to boost profitability amid growing competition.
Category: News
U.S. copper futures have been treading water since early May, but don’t mistake stillness for stagnation. Beneath the surface, the chart is quietly building a case for a resumption of the metal’s long-running rally.
Outgoing British Prime Minister Keir Starmer announced his departure on Monday amid plunging approval ratings, but there were warm words from European leaders who had generally found him easier to work with than his recent predecessors.
On Monday morning, Keir Starmer emerged into the sunshine in Downing Street flanked by his staff and wife, his voice thick with emotion as he said he was no longer the right person to lead Britain.
Tata Electronics said on Monday it had detected a recent “cybersecurity incident”, after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group.
Elon Musk’s SpaceX launched its first-ever notes offering on Monday and said it had about $100.8 billion in cash and cash equivalents as of June 19, days after its blockbuster U.S. stock market IPO.
The S&P 500 and the Dow inched higher on Monday, led by technology and financial shares, as investors assessed progress in the latest round of U.S.-Iran negotiations.
A ceasefire largely held in Lebanon on Monday as the country experienced the longest lull yet in three months of war between Hezbollah and Israel, even as fear of renewed hostilities kept displaced people from going home.
The U.S. Treasury Department authorized the production, delivery and sale of Iranian oil on Monday, a move promised under an agreement reached by Washington and Tehran last week.
The departing Keir Starmer’s decision to bind himself with manifesto tax pledges and budget rules was informed by overly optimistic forecasts. These showed GDP growth going from 0.3% to almost 2%. His successor needs to avoid a similar temptation as the Iran war ebbs.