In order to augment output from the Megapack factory in California, Tesla Inc. is constructing a facility in Shanghai that can produce 10,000 Megapack energy products annually, the firm announced in a tweet on Sunday.   Chinese state-run news agency Xinhua broke the story first.  ...

According to FactSet analysts' predictions, companies in the S&P 500 index will experience an average 6.8% decline in net profit during the first quarter of this year compared to the same period last year, reports The Wall Street Journal. If the expectations come true, it will mark the second...

According to persons familiar with the situation, the Financial Times reported on Friday that JPMorgan Chase & Co. is under investigation by US regulators about the due diligence the firm performed on several of its prior acquisitions.   Following the bank's acquisition of hundreds of...

Toyota Motor Corp. plans to launch 10 new battery-powered models and hopes to sell 1.5 million electric vehicles annually by 2026. The company is striving for rapid expansion in a market where it has long been outperformed by competitors.   Senior executives revealed plans for the company's...

Microsoft will pay a three million dollar fine for 1,300 violations of sanctions. According to a document from the U.S. Treasury Department, Microsoft will pay nearly $3 million to resolve more than 1.3 thousand violations of American sanctions against Cuba, Iran, Syria, and Russia. The Office of...

In a new set of test results released on Wednesday, artificial intelligence chips from Qualcomm Inc. beat Nvidia Corp. in two of three measures of power efficiency, while a Taiwanese firm outperformed both in one.   When it comes to using massive volumes of data to train AI models, Nvidia...

The Financial Times (FT), citing its own sources, reports that the largest independent oil trader in the world, Vitol, has reported a $15 billion net profit for 2022. This amount is a record for the business and is equal to its cumulative profit over the preceding six years. The business earlier...

According to a press statement from Saudi Aramco, the country's national oil and gas company, the deal of purchasing a 10% stake in the Chinese Rongsheng Petrochemical will cost $3.6 billion and will see Saudi Aramco greatly increase its presence in the local petroleum products. According to the...

Chinese automakers are stepping in to fill the gap left by the departure of Western automakers, which is forcing Russians to get over their reluctance to support Chinese brands and put up with higher prices.   According to data from the analytical agency Autostat and the consulting firm PPK,...