Author: Reuters

  • Next Autopilot trial to test Tesla’s blame-the-driver defense

    Next Autopilot trial to test Tesla’s blame-the-driver defense

    By Dan Levine and Hyunjoo Jin (Reuters) – Six weeks before the first fatal U.S. accident involving Tesla’s Autopilot in 2016, the automaker’s president Jon McNeill tried it out in a Model X and emailed feedback to automated-driving chief Sterling Anderson, cc’ing Elon Musk. The system performed perfectly, McNeill wrote, with the smoothness of a…

  • Wall Street slips from records with Nasdaq leading declines

    Wall Street slips from records with Nasdaq leading declines

    By Sinéad Carew and Bansari Mayur Kamdar (Reuters) – The S&P 500 and Nasdaq closed lower on Friday after touching record highs during the session, with high-flying chip stocks going into reverse and a mixed labor market report that showed more new jobs than expected with a rising unemployment rate. The S&P and Nasdaq briefly…

  • Rivian gains as new launch R2 SUV attracts strong early orders

    Rivian gains as new launch R2 SUV attracts strong early orders

    By Akash Sriram (Reuters) -Rivian’s shares closed more than 2% higher on Friday as its cheaper R2 SUV racked up tens of thousands of reservations within hours of its launch, fueling optimism that the electric-vehicle maker could expand in the mass-market segment. Unveiled on Thursday, the smaller R2 SUV, which will start at $45,000, has…

  • Italy’s data watchdog looks into Open AI tool that turns text into video

    MILAN (Reuters) – Italy’s data protection agency said on Friday it had opened an investigation into a service developed by Microsoft-backed Open AI that can generate videos based on text prompts. The regulator, known as Garante, asked Open AI to clarify whether the way it informs users and non users about the data it employs…

  • Gold marches higher as US jobs data boosts bets of early rate cut

    Gold marches higher as US jobs data boosts bets of early rate cut

    By Anjana Anil (Reuters) – Gold prices surged to another record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the U.S. Federal Reserve could begin cutting interest rates soon. Spot gold rose 0.5% to $2,170.55 per ounce by 2:07 p.m. ET (1907 GMT). U.S. gold futures settled…

  • Families of Americans still detained abroad press for more help

    Families of Americans still detained abroad press for more help

    By Humeyra Pamuk and Simon Lewis WASHINGTON (Reuters) – Some families of Americans detained abroad said on Friday that the U.S. government can be an obstacle as they battle to secure the release of loved ones, despite a series of prisoner swaps for detained U.S. citizens agreed by the Biden administration. A group of families…

  • Novo Nordisk confident of amycretin obesity drug launch this decade

    Novo Nordisk confident of amycretin obesity drug launch this decade

    By Maggie Fick and Jacob Gronholt-Pedersen BAGSVAERD, Denmark (Reuters) -Novo Nordisk is very comfortable it will be able to launch the pill version of its experimental weight loss drug amycretin this decade, the drugmaker’s head of development told Reuters on Friday, a day after it announced strong early trial data on it. “I never commit…

  • US household wealth soars to record on booming stocks

    US household wealth soars to record on booming stocks

    (Reuters) -U.S. household wealth rose to a record of roughly $156.2 trillion at the end of 2023 thanks to a surging stock market that offset a drop in property market values, the Federal Reserve said on Thursday. Household net worth rose about 3.2% in the period from October through December from $151.4 trillion at the…

  • Novo valuation surpasses Tesla on experimental obesity drug data

    Novo valuation surpasses Tesla on experimental obesity drug data

    By Jacob Gronholt-Pedersen and Maggie Fick COPENHAGEN (Reuters) -Novo Nordisk on Thursday surpassed Tesla Inc in market valuation after the maker of the popular weight-loss drug Wegovy announced positive early trial data for a highly anticipated new obesity drug. Shares surged more than 8% to record highs, shooting Novo Nordisk up in global rankings to…

  • Fed’s Powell: “Not far” from confidence needed to cut rates

    Fed’s Powell: “Not far” from confidence needed to cut rates

    By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell said on Thursday the U.S. central bank was “not far” from gaining the confidence it needs in falling inflation to begin cutting interest rates. “I think we are in the right place,” Powell said of the current stance of monetary policy in a hearing before…