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Tesla has backed away from an ambitious plan for innovations in gigacasting, its pioneering manufacturing process, according to two sources familiar with the matter, in another sign that the electric-vehicle maker is retrenching amid falling sales and rising competition. Tesla has been a leader in gigacasting, a cutting-edge technique that uses huge presses with thousands of tons of clamping pressure to die-cast large sections of the car's underbody. On a typical vehicle, the underbody can consist of hundreds of individual parts. Last year, as Tesla developed a new small-vehicle platform, it aimed to punch out the underbody in a single piece, Reuters exclusively reported last September, citing five sources familiar with the automaker's gigacasting operations. The long-term goal was to radically simplify manufacturing and slash costs.

private payrolls increased more than expected in April while data for the prior month was revised higher, a report showed on Wednesday. Private payrolls increased by 192,000 jobs last month after rising by an upwardly revised 208,000 in March, the ADP Employment report showed. Economists polled by Reuters had forecast private employment increasing by 175,000 last month compared to the previously reported 184,000 in March.

Justin Trudeau a “wacko", as per a Reuters report. The incident underscores the escalating tensions between the two political figures as they gear up for the upcoming Canandian elections slated for next year.

newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters' work to train their generative artificial-intelligence systems. The eight newspapers, owned by hedge fund Alden Global Capital's MediaNews Group, said in the lawsuit that the companies unlawfully copied millions of their articles to train AI products, including Microsoft's Copilot and OpenAI's ChatGPT.

Canada and Argentina branches, ANI reported.HSBC’s Hong Kong-listed shares rose nearly 1.5 per cent in afternoon trade Tuesday, while its London-listed stock increased by 2.5 per cent in early trading, Financial Times reported.The search for Quinn’s successor is underway, with the bank considering both internal and external candidates. Quinn, 62, who also steered the banks shift in focus to Asia, will remain in his role to oversee the transition until a new CEO is appointed.

Hyundai Motor Group plans to launch its first hybrid cars in India as early as 2026, three sources said, as the South Korean auto group looks beyond electric vehicles to boost its presence in a key auto market. The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources who have direct knowledge of the plans. Hyundai and Kia are both targeting the launch of hybrid SUVs in India in 2026 or 2027, one of the sources said, adding that their EV plans for India were also on track.

Gold and silver rate today on 29-04-2024: Check latest rates in your city “Of particular importance is the US interest rate decision, which is poised to strongly impact Gold. Anticipation of two rate cuts could provide support for gold, whereas emphasis on higher rates for a longer duration may exert pressure. Hence, the week ahead is anticipated to be pivotal for gold markets," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

humanitarian aid has risen to $320 million, a U.S. defense official and a source familiar with the matter told Reuters. The figure, which has not been previously reported, illustrates the massive scale of a construction effort that the Pentagon has said involves about 1,000 U.S. service members, mostly from the Army and Navy. Still, the cost has roughly doubled from initial estimates earlier this year, according to a person familiar with the matter.

Antony Blinken that they do not find «credible or reliable» Israel's assurances that it is using U.S.-supplied weapons in accordance with international humanitarian law, according to an internal State Department memo reviewed by Reuters. Other officials upheld support for Israel's representation.

India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk. «It will help India with a strategic partner and access to key trade routes in a volatile region,» one official told Reuters. India and Oman have annual trade of less than $13 billion, but the relationship is important for New Delhi as the Gulf nation is a gateway to the narrow Strait of Hormuz between Oman and Iran, a major transit point for global oil shipments.

U.S. Food and Drug Administration (FDA) is gathering information on products of Indian spice makers MDH and Everest after Hong Kong halted sales of some of their products for allegedly containing high levels of a cancer-causing pesticide. «The FDA is aware of the reports and is gathering additional information about the situation,» an FDA spokesperson told Reuters on Friday. Hong Kong this month suspended sales of three MDH spice blends and an Everest spice mix for fish curries. Singapore ordered a recall of the Everest spice mix, saying it contains high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure.

Amazon reporting results will keep investors' focus in the days ahead on the global rates outlook and on tech earnings, while growth and inflation data from Europe and China are also coming out.

The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau of Economic Analysis said on Friday. Data for February was unrevised to show the PCE price index gaining 0.3% as previously reported.

TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said. The algorithms TikTok relies on for its operations are deemed core to ByteDance's overall operations, which would make a sale of the app with algorithms highly unlikely, said the sources close to the parent.

The move would make Hong Kong the first domicile in the Asia-Pacific region to approve a crypto-backed, exchange-based investment fund. It would also put the island in prime position in the race to become the digital assets hib for the region.

Gold prices today: The yellow metal trimmed gains on Thursday, April 25, as US Treasury yields rose after gross domestic product (GDP) data showed signs of persistent core inflation, which in turn, lowered expectations of the Federal Reserve cutting interest rates anytime soon. Spot gold firmed 0.3 per cent at $2,321.70 per ounce after rising as much as 0.8 per cent earlier in the session. Prices were down over $100 from an all-time high of $2,431.29 scaled on April 12, fueled by geopolitical turmoil.

The rupee closed at 83.3150 against the U.S. dollar, barely changed from its close of 83.3225 in the previous session.

Laboratory service provider Labcorp on Wednesday announced that it will acquire Softbank-backed Invitae Corp’s assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic test maker filed for bankruptcy.

LONDON — Barclays on Thursday reported first-quarter net income attributable to shareholders of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul.

central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters. The plans come as internal government data shows individuals have lost funds of nearly $1.26 billion in financial institutions to cyber fraud since 2021, with one of the sources saying about 4,000 fraudulent accounts are opened every day. Tens of thousands of Indians receive daily telephone calls seeking to defraud them by accessing their bank accounts and wallets to siphon off money that then accumulates in the scammers' accounts.

Yoav Gallant said Wednesday without specifying whether ground troops had crossed the border. «Many forces are deployed on the border and IDF (army) forces are carrying out offensive action currently throughout southern Lebanon,» Gallant said in a statement, also claiming that «half of Hezbollah's commanders in southern Lebanon have been eliminated» in months of violence. «The other half are in hiding and abandoning the field to IDF operations,» he added without giving a specific number.