Latest Corporate News
Tesla Boosts Spending to $25 Billion on AI and Robotics
Tesla plans to invest up to $25 billion this year in AI and robotics, flagging billions in additional spending to support Elon Musk's ambitions in EVs and robotics. Analysts note lack of clarity in capacity plans amid market fragility.
Shares reacted positively, echoing European peers.
TSMC Deems ASML's Latest Chip Gear Too Expensive
TSMC states ASML’s newest chipmaking equipment is too pricey for use, impacting semiconductor supply chains. This comes amid broader tech earnings where chips shine but software struggles.
Growth outlook remains in-line for related firms.
SoftBank Seeks Massive Loan for AI Expansion
SoftBank is pursuing a 0 billion loan secured by shares in OpenAI to fuel its AI ambitions under Masayoshi Son. The firm has piled on debt to become a key global AI player.
This aligns with aggressive tech investments seen in peers like Tesla.
American Airlines and Alaska Air Explore Merger
American Airlines and Alaska Air are in talks for a potential revenue-sharing deal or merger. This move aims to strengthen positions amid rising fuel costs from Hormuz tensions.
Aviation faces jet fuel shortage risks as tourism season nears.
BYD Doubles European EV Sales in March
BYD more than doubled its European sales to nearly 38,000 vehicles in March, with EV deliveries up 42%. Sales expanded across all major markets, powering recovery.
This boosts competition in global EV space alongside Tesla.
ServiceNow Shares Drop After Disappointing Outlook
Software provider ServiceNow fell after disappointing investors with its outlook in mixed tech earnings. Chips performed well, but software struggled.
Full-year organic revenue growth estimated at 3-4%.
Emirates NBD Beats Q1 Earnings Estimates
Emirates NBD reported Q1 operating income of 14.4 billion dirhams and pretax profit of 8.2 billion dirhams, exceeding expectations. FAB also beat with 5 billion dirhams profit versus 4.28 billion estimated.
Banking sector shows resilience amid oil price surge.
US Equity Futures Fall After S&P Record
US equity futures declined after S&P 500 hit a fresh record, pressured by Iran concerns and oil rally. Stocks and bonds fell as Hormuz standoff boosts Brent above $100/barrel.
Markets show economic fragility during tensions.
EU Warns of Long-Term Energy Crisis from Iran War
EU commissioner Dan Jorgensen warns the US-Israel war on Iran sparked a massive energy crisis worse than 1973 and 2022 combined, with long-term consumer impacts. Global oil/gas markets throttled, risking jet fuel shortages.
EU leaders to discuss Middle East conflict.
Brent Crude Surges Above $100 on Hormuz Tensions
Brent crude rose above $100/barrel as US-Iran standoff closes Strait of Hormuz, with no deadline for peace proposal. White House awaits Iran's new proposal amid battle for control.
This rattles energy importers like EU.
Lebanon and Israel Set for US-Mediated Talks
Lebanon and Israel to hold talks in Washington today, mediated by US amid broader Middle East tensions. Ceasefire holds until Iran submits peace proposal.
PMI data expected to reveal war's economic fallout.