Car company sees biggest single-day stock gain since 2013 as CEO Elon Musk forecasts up to 30% in sales growth Tesla shares closed up nearly 22% on Thursday – their biggest single-day gain in over a decade – as Elon Musk’s bold forecast of surging sales reassured investors he was still looking to grow its core business of selling electric cars. At close, nearly $150bn was added to the company’s market value. Musk forecast 20-30% in sales growth next year, promising to launch an affordable vehicle in the first half of 2025, and said efforts to slash production costs boosted margins in the third quarter. Continue reading...

Fall overnight comes after it shrinks by $279bn on Tuesday in biggest one-day drop in value by US company * Business live – latest news Shares in the AI chip designer Nvidia have continued to slide overnight after a report said US authorities were ramping up an investigation into whether the company had breached competition laws. The company’s shares fell 2.4% in after-hours trading, exacerbating a near-10% drop in the regular trading session that slashed its value by $279bn (£212bn) to $2.6tn, marking the largest one-day drop in history for a US company. Continue reading...

Doubling of quarterly revenues fails to allay concerns about production delays to its next-generation of AI chips * Business live – latest updates Shares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a doubling of quarterly sales. The Silicon Valley company posted a 122% rise in second-quarter revenues to $30bn (£23bn) compared with the same period last year. While that beat average analyst estimates of $28.7bn, investors were spooked by signs of a slowdown in growth, particularly around its next-generation AI chips, code-named Blackwell. Continue reading...

Vacation rental company reports second-quarter profit of $555m compared with last year’s $650m The vacation rental company Airbnb forecast third-quarter revenue below Wall Street estimates on Tuesday and reported a lower second-quarter profit, as it flagged weakening demand from US customers. Shares of the company were down about 12% after the bell. Continue reading...

Firm reported a loss in its second quarter and said it would cut 15% of its workforce to cut costs and compete with rivals Intel, the chipmaker, has announced plans to cut more than 15,000 jobs as it tries to cut billions of dollars in costs and turn its business around to compete with more successful rivals. Shares in the company sank 19% as a string of leading technology stocks came under pressure on Thursday following a fresh batch of lackluster earnings that contributed to a sell-off on Wall Street. Continue reading...

Even as shares fall about 9%, chief financial officer says firm is seeing ‘more investment’ in AI than ‘even 90 days ago’ Chip designer Arm Holdings on Wednesday reported a stronger-than-expected 39% surge in quarterly revenue, and forecast fiscal second-quarter sales broadly in line with Wall Street estimates, yet its shares fell about 9% in extended trading. For the current fiscal second quarter, Arm forecast revenue in a range between $780m and $830m, compared with an average analyst estimate of $804.1m, according to LSEG data. Continue reading...

Banks, airlines, railways, telecoms companies, TV and radio broadcasters, and supermarkets have been taken offline Britain’s Sky News is back on air after an outage lasting several hours, but its presenter said the news channel was operating at minimal capacity and without many of its usual services. Two presenters were reading from paper scripts, with one, Anna Jones, saying they were not yet able to connect to any guests outside the studio to conduct interviews. We’re impacted by the IT outage. This will have a big effect on us, so apologies in advance for the inconvenience caused, and delays on the phone. Due to ongoing Windows issues affecting IT worldwide, the practice is currently unable to function as normal. This may result in appointments needing to be cancelled and rearranged. Updates will follow when available. All practices in the UK using the NHS commissioned GP computer system EMIS are currently without access to their IT systems. This is beyond the control of GP surgeries. Please bear with us until we have our IT systems back online. We have no access to patient clinical records so are unable to book appointments or provide information... This is a national problem and is being worked on as a high priority. Unfortunately there is a national issue with EMIS Web - our clinical computer system. This will affect our ability to book/consult with patients this morning. We will update patients when we can. We apologise for the disruption. I’m currently sat in NHS Chorley Hospital (UK) and can confirm they are having issues and have been told they maybe cancelling appointments. I am an outpatient. Continue reading...

Proposed sale of 25m shares disclosed in notice on Tuesday after stock hit all-time high of $200.43 during session Amazon founder and executive chair Jeff Bezos is planning to sell almost $5bn worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25m shares was disclosed in a notice filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 during the session. It has jumped more than 30% so far this year, outpacing the 4% gain in the Dow Jones Industrial Average index. Continue reading...