Musk tweets plans to slow Tesla supercharger growth

Reuters
UPDATE 3-Microsoft asks some China staff to relocate amid Sino-US tensions
Microsoft is asking some of its China-based staff to consider transferring outside the country, the company said on Thursday, as Sino-U.S. relations strain amid a race for cutting-edge technology. Washington has been trying to limit Beijing's access to advanced chips used in AI applications on grounds that they can be used to strengthen the country's military, sparking tensions that have put pressure on U.S. companies operating in China. Microsoft is asking about 700 to 800 people who are involved in machine learning and other cloud computing-related work to consider relocating, according to the Wall Street Journal, which first reported the news.
Reuters
Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says
The 35-year-old Bank of America investment banker who died from a blood clot earlier this month wanted to leave the U.S. bank because he was working more than 100 hours a week, according to an executive recruiter who spoke with him about seeking a new job. Junior banker Leo Lukenas III died of an acute coronary artery thrombus, a type of blood clot, the New York Office of the Chief Medical Examiner said last week. Lukenas said in mid-March that he wanted to leave Bank of America because of the grueling hours, Douglas Walters, a managing partner at GrayFox Recruitment, told Reuters in an interview.
Reuters
Singapore Airlines CEO says travel out of China not yet recovered
SEOUL (Reuters) -Air travel demand from China is not back to pre-pandemic levels for Singapore Airlines, but a visa-free scheme for Chinese citizens to the Asian hub has helped fill seats and the airline will add more China capacity this year, its CEO said on Thursday. Global aviation capacity returned to pre-pandemic levels this year, but recovery has been slower in Asia's aviation industry due to still-sluggish international demand in China, the world's second-largest economy. "Travel into China has been strong, travel out of China has not yet recovered fully," Singapore Airlines CEO Goh Choon Phong told media.
The Guardian
Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds
Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental Petroleum
SmartAsset
How Long Will $300,000 Last Me in Retirement?
How long will $300,000 last in retirement? The answer to that depends on a variety of things: your lifestyle, your lifespan, your investments and any other income you have, to start. Let's break down whether $300,000 is enough for your … Continue reading → The post How Long Will $300,000 Last in Retirement? appeared first on SmartAsset Blog.
Reuters
Microsoft asks some China staff to relocate amid Sino-US tensions
Washington has been trying to limit Beijing's access to advanced chips used in AI applications on grounds that they can be used to strengthen the country's military, sparking tensions that have put pressure on U.S. companies operating in China. Microsoft is asking about 700 to 800 people who are involved in machine learning and other cloud computing-related work to consider relocating, according to the Wall Street Journal, which first reported the news. Microsoft remains committed to China and will continue to operate there and other markets, the spokesperson said.
Reuters SG
FOCUS-Chinese firms invest in 'green' jet fuel, anticipating blending rule
Biofuel firms are pouring more than $1 billion into building China's first plants to turn waste cooking oil into aviation fuel for export and meet domestic demand once Beijing mandates the fuel's use on airplanes to cut emissions. The world's second-largest aviation market, with about 11% of global jet fuel use, China is expected to unveil this year its policy on sustainable aviation fuel (SAF) use for 2030 that could spur billions of dollars of investment, industry executives told Reuters.
Associated Press
Morocco’s automotive industry shifts gears to prep for electric vehicle era
A train that travels from rural northern Morocco to a port on the Mediterranean Sea carries no passengers. Three times a day, it brings hundreds of cars stacked bumper to bumper from a Renault factory outside Tangiers to vessels that transport them to European dealerships. Business incentives and investing in infrastructure like the freight railway line have allowed Morocco to grow its automotive industry from virtually non-existent to Africa's largest in less than two decades.
Reuters
Wildfires could impact over half of Canada's oil sands output - report
Canada is one of the biggest oil sands producers in the world. Companies like Suncor Energy, Canadian Natural Resources and Imperial Oil have oil sands projects within 150 km of Fort McMurry, an oil sands hub in Northern Alberta, with many workers living in the city.
Reuters Videos
Netflix hits 40 million users for ad-supported plan
STORY: Netflix said Wednesday its ad-supporter tier has hit 40 million global monthly active users.That's way up from 5 million a year earlier.And it's a sign the firm's push to draw new users with the cheaper plan has paid off.The jump comes at a time when streaming companies face tough competition.Many have brought in bundles with their rivals to retain subscribers.Netflix launched the ad-supported plan a year and a half ago.Data from a leading research firm this week showed such an approach has drawn users.It said the majority of gross subscriber additions for the streaming industry came from ad-supported plans for the first time in the fourth quarter.Netflix also said it will launch an in-house advertising technology platform by the end of next year.That's in a bid to offer clients new ways to buy ads and better engage with users.Netflix's ad-tier plan costs $6.99 per month in the U.S., undercutting many rivals including Disney+.
Reuters
Fears of German 'de-industrialisation' may be overblown - for now
High energy costs, weak global demand, a disruptive shift towards net-zero economies, and growing competition from China are raising existential questions for Germany's economic model. CEOs and business lobbies say its historically strong industrial base is close to cracking, a "de-industrialisation" risk often accompanied by calls for government support. Monthly industrial production data give the most obvious snapshots of how the sector is doing, and they show a clear decline since the end of 2017, exacerbated by the COVID-19 pandemic and now the Ukraine war.
Reuters
EU launches trade investigation into Chinese tinplate steel
BRUSSELS (Reuters) -The European Commission has launched an investigation into flat-rolled products of iron or steel plated or coated with tin from China to assess whether imports into the European Union are sold at excessively low prices. The Commission, which oversees trade policy in the 27-nation EU, launched the anti-dumping investigation following a complaint from European steel association Eurofer, the EU official journal said on Thursday. The investigation, along with another launched on Thursday into wood flooring imports, is the latest in a string of EU trade and subsidy probes into Chinese exports and the operations of Chinese companies in Europe, most notably an anti-subsidy investigation into electric vehicles.
Reuters
Trafigura, IXM caught in COMEX copper short squeeze as prices hit record
LONDON/BEIJING (Reuters) -Commodity traders Trafigura and IXM are looking to buy physical copper to deliver against large short positions on U.S. exchange CME where copper prices soared to record highs on Wednesday, five sources with direct knowledge of the matter said. A short squeeze occurs when parties holding such positions are forced to buy them back at a loss or deliver physical copper to close them out. Copper prices on COMEX, part of the CME Group, hit a record peak of $5.1775 a lb or $11,414 a metric ton on Wednesday, a gain of 28% so far this year and 14% over the last week.
Reuters
Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says
Planemakers Airbus and Boeing need to put more pressure on their suppliers to reduce the delivery delays of new aircraft that are hindering airlines' ability to meet travel demand, Qatar Airways CEO said on Wednesday. "We are ... really trying our best to assist both Boeing and Airbus and try to find solutions for them to make sure they deliver," Badr Mohammed Al Meer said on a panel at the Qatar Economic Forum in Doha. Demand for air travel has rebounded since the pandemic, but planemakers are struggling to get back to previous production levels due to disrupted supply chains and a safety crisis at Boeing.
Reuters
GRAPHICS-Fears of German 'de-industrialisation' may be overblown - for now
High energy costs, weak global demand, a disruptive shift towards net-zero economies, and growing competition from China are raising existential questions for Germany's economic model. CEOs and business lobbies say its historically strong industrial base is close to cracking, a "de-industrialisation" risk often accompanied by calls for government support. Monthly industrial production data give the most obvious snapshots of how the sector is doing, and they show a clear decline since the end of 2017, exacerbated by the COVID-19 pandemic and now the Ukraine war.
CNN Business
Why Biden’s monster EV tariffs could inflame a Europe-China trade war
US President Joe Biden has quadrupled tariffs on electric vehicles from China to 100%, effectively sealing off one of the world’s biggest passenger car markets to the largest global producer of EVs.
Cover Media
Brad Pitt countersued over Chateau Miraval funds
The actor has been accused of diverting money from the winery to his other businesses, including a recording studio, a cosmetics company and a gin brand. Brad, 60, previously sued the Tenute del Mondo wine group to block them from purchasing his ex-wife Angelina Jolie's shares in their joint French winery, Chateau Miraval. Now Tenute del Mondo is suing him, claiming he took money from the wine business and used it to prop up his other companies. "Pitt caused millions of its funds to be spent on projects that benefit him personally," the suit alleges.
Reuters
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV price war in China squeezed automakers' margins. The company is among a group of struggling Chinese EV startups including WM Motors and Human Horizons that have suspended operations amid sluggish sales.
Yahoo Finance
Gas prices expected to jump this summer on refinery constraints
Gas prices are expected to rise this summer amid higher refining costs and capacity constraints.
GOBankingRates
8 Shocking Stats About the Bleak State of Retirement in America
There may come a day when "retirement" is more a concept than a reality for most Americans. A rising number of seniors are working well past what used to be considered the normal retirement age...

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Musk tweets plans to slow Tesla supercharger growth

Latest stories

UPDATE 3-Microsoft asks some China staff to relocate amid Sino-US tensions

Exclusive-Bank of America banker who died had sought to leave, citing long hours, recruiter says

Singapore Airlines CEO says travel out of China not yet recovered

Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds

How Long Will $300,000 Last Me in Retirement?

Microsoft asks some China staff to relocate amid Sino-US tensions

FOCUS-Chinese firms invest in 'green' jet fuel, anticipating blending rule

Morocco’s automotive industry shifts gears to prep for electric vehicle era

Wildfires could impact over half of Canada's oil sands output - report

Netflix hits 40 million users for ad-supported plan

Fears of German 'de-industrialisation' may be overblown - for now

EU launches trade investigation into Chinese tinplate steel

Trafigura, IXM caught in COMEX copper short squeeze as prices hit record

Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says

GRAPHICS-Fears of German 'de-industrialisation' may be overblown - for now

Why Biden’s monster EV tariffs could inflame a Europe-China trade war

Brad Pitt countersued over Chateau Miraval funds

Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC

Gas prices expected to jump this summer on refinery constraints

8 Shocking Stats About the Bleak State of Retirement in America