Bloomberg Tesla Inc Chief Executive Officer (CEO) Elon Musk sent staff, investors and electric-car watchers on a three-day rollercoaster with conflicting messages about potential job cuts, underlining the sometimes erratic nature of his leadership and muddying the automaker’s outlook. Musk tweeted that Tesla’s total workforce would grow, even as the number of salaried workers remains broadly the same. That ...

  Bloomberg Czech inflation accelerated more than expected in May, supporting expectations of one more large interest rate hike before less hawkish leadership takes over the central bank. Consumer prices rose 16% from a year earlier, driven mainly by cost of housing and food, the statistics office in Prague said. The reading exceeded the median estimate of 15.5% in a ...

  Bloomberg Apple Inc plans to expand the line-up of laptops using its new, speedier in-house chips next year, aiming to grab a bigger share of the marke. The company is working on a larger MacBook Air with a 15-inch screen for release as early as next spring, said the people, who asked not to be identified because the plans ...

  Bloomberg The UK’s antitrust watchdog launched an investigation into the Google Play app store over suspected anticompetitive conduct, alongside a sweeping study taking aim at Alphabet Inc and Apple Inc’s “strong grip” over mobile technologies. Marking the latest broadside against Silicon Valley from an increasingly interventionist UK regulator, the Competition and Markets Authority (CMA) will probe suspected breaches of ...

  Bloomberg Ferrari plans to significantly expand its factory in northern Italy as part of the electrification strategy it will unveil during a highly anticipated briefing next week. The supercar manufacturer has snapped up space near its Maranello plant and started clearing way for a third production line that will be dedicated to making hybrid and electric vehicles. The expansion ...

  Bloomberg Facebook parent company Meta Platforms Inc has halted development of a smartwatch with dual cameras and is instead working on other devices for the wrist, according to a person with knowledge of the matter. The device, which has been in development for at least two years, was designed to include several features common in other smartwatches, including activity ...

  ABU DHABI / WAM The United Arab Emirates has been ranked as the best country in the Arab World in terms of attraction of Foreign direct investment (FDI) for 2021, according to the newly released United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2022. The UAE remained the largest recipient of FDI with flows increasing from ...

  Abu Dhabi / WAM According to the monthly newsletter covering Arab financial markets published on Friday by the Arab Monetary Fund (AMF), the Abu Dhabi Securities Exchange (ADX) recorded the highest increase in trading value among Arab financial markets in May 2022 at 292.64 percent while the Palestine Exchange topped the list in terms of trade volume increase. The ...

  Abu Dhabi / WAM The Sheikh Zayed Book Award (SZBA) has opened submissions for its 17th edition, which will close on October 1. This announcement follows the success of the 16th edition, which received largest number of submissions across its nine categories since its inception, with more than 3,000 submissions from 55 countries, including 20 Arab nations and 35 ...

  Abu Dhabi / WAM The Abu Dhabi Department of Economic Development (Added) and Shandong Province, People’s Republic of China, signed a memorandum of understanding to enhance cooperation, exchange expertise and data on an industrial sector front. The signing comes as the two sides work towards further boosting investment opportunities and affirming Abu Dhabi’s unique market attributes. Rashed Abdulkarim Al ...