BHP Set to Dethrone Codelco as World’s Biggest Copper Producer

Reuters Videos
Elon Musk lays off Tesla execs, plans more cuts
STORY: Elon Musk looks to be doing more layoffs at Tesla. Reports by The Information on Tuesday (April 30) say he’s fired two top executives, and plans to get rid of hundreds more workers. Musk is said to be frustrated by falling sales, and the pace of earlier job cuts. The story quotes an email said to be from Musk. In it he says, “these actions are making it clear that we need to be absolutely hard core about headcount”. In an apparent warning to managers, he says “while some on exec staff are taking this seriously, most are not yet doing so”. There was no immediate response to a Reuters request for comment. It all follows a move earlier this month to shed some 10% of the company’s workforce. Tesla is grappling with falling sales and an intensifying price war which it started. Reporting earnings last week, it said all that led to its first quarterly drop in revenue since 2020. Musk this weekend made a surprise visit to China, the epicenter of the price battle. There he made progress on rolling out the brand’s advanced driver assistance features in the country. However, Tesla faces fierce competition from local makers like BYD in what is now the world’s biggest car market.
2 days ago
Birmingham Live
Tesco, Sainsbury's, Asda drivers urged to fill up car when tank is 'quarter full not empty'
“Today I'm going to tell you why you don’t want to drive your car with the fuel gauge all the way down to E," he said.
2 days ago
PA Media: Money
Lidl quizzed by MPs over ‘Strathvale farm’ Scottish chicken
Lidl GB’s chief commercial officer Richard Bourns had told MPs: ‘We do not use farm brands, just to be absolutely clear.’
a day ago
POWER Magazine
Real-Life Lessons for Thriving in the Energy Transition
The U.S. is assembling a new power grid infrastructure—and not a moment too soon. The need for dynamic new approaches in the power and utility sector has never been more urgent. New kinds of distributed
21 hours ago
The Telegraph
Shell to close Chinese green power generation business
Shell is to close its power generation business in China amid a wider Western exodus from the country.
13 hours ago
Fool.co.uk
After rising 176%, is there still value left in the Rolls-Royce share price for investors?
Rolls-Royce has been one of the stock market's best performers in the last 12 months. But does its share price have more room for growth? The post After rising 176%, is there still value left in the Rolls-Royce share price for investors? appeared first on The Motley Fool UK.
21 hours ago
Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
9 hours ago
CNN Business
Volkswagen’s electric car orders double in Europe
Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs.
2 days ago
Reuters
Weak demand, new model ramp up hit Europe's top automakers
European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high. The news hit the automakers' stocks. Mercedes shares were down 4.4%, Stellantis 4% and Volkswagen 2.7%.
2 days ago
Reuters
UPDATE 3-Diamondback Energy beats first quarter profit estimates on higher production
Diamondback Energy beat first quarter profit estimates on Tuesday as the oil and gas firm benefited from higher oil production and better prices. Crude oil prices in the quarter mirrored the previous year as production cuts by OPEC+ countries offset lower demand, helping oil producers like Diamondback Energy. Quarterly oil production was at 24.8 millions of barrels (mmbls), up about 10% up from the previous year and prices for oil was up 2.7% at $75.06 per barrel for the same period.
a day ago
PA Media: Money
UK manufacturing sector shrinks again as firms impacted by shipment delays
The influential S&P Global/CIPS UK manufacturing PMI survey dropped to 49.1 in April, having hit a 20-month high of 50.3 in the previous month.
21 hours ago
Reuters Videos
Walmart to close U.S. health clinics, citing costs
STORY: Walmart is getting out of the healthcare business.The world’s largest retailer said on Tuesday that it's closing all 51 of its health clinics as well as all of its virtual healthcare operations.In its announcement, Walmart called it a "difficult decision" but that it is "determined there is not a sustainable business model for us to continue." The move is a surprising reversal of plans, as Walmart just last year said it would nearly double its number of health center locations.But now it sees a “challenging reimbursement environment and escalating operating costs” that hamper profitability.Its health centers, which house doctors and dentists and are typically located next to Walmart Supercenters, are spread across five states, including Texas and Florida.All will be shut within 30 to 90 days.Companies such as Walmart, Walgreens, Amazon and CVS expanded into providing healthcare services during the past five years, seeing opportunities in the highly fragmented U.S. healthcare system. But it has not been clear that consumers want such services from retailers or that they are profitable.Shares of Walmart were down more than 1.5% in Tuesday morning trading.
2 days ago
Reuters
McDonald's posts rare profit miss as customers turn picky
McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales. Global comparable sales growth slid for the fourth straight quarter to 1.9%, with the company saying consumers turned "more discriminating with every dollar they spend". "Consumer is certainly being very discriminating in how they spend their dollar ... I think it's important to recognize that all income cohorts are seeking value," McDonald's CEO Chris Kempczinski said on a post-earnings call.
2 days ago
EADT
Jobs at restaurants in Suffolk under threat amid hotel chain cutbacks
Jobs at Brewers Fayre and Beefeater restaurants in Suffolk are under threat after cutbacks were announced by owner Whitbread.
2 days ago
Reuters
UPDATE 5-Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say
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 shifts strategy to look beyond electric vehicles and boosts its presence in a key 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.
2 days ago
OK! Magazine
Mike Tindall's true feelings about Prince Harry revealed in one-word remark
Mike Tindall previously shared his thoughts on Prince Harry's behaviour at the late Queen's Platinum Jubilee celebrations, with it being reported that he made a one-word remark
a day ago
The Independent
Ronnie O’Sullivan shows ‘unbelievable’ sportsmanship in incident at World Snooker Championship
O’Sullivan lost the frame after a debate with referee Desislava Bozhilova over a re-spotted black during his quarter-final match with Stuart Bingham
10 hours ago
OK! Magazine
James Martin reveals 'spur of the moment' action that led to split from partner
TV chef James Martin split up with Bond producer Barbara Broccoli after a 'spur of the moment' decision that he claims was a 'defining moment' in their relationship
21 hours ago
Bristol Live
Prince Harry 'forced to stay in hotel' when he returns to UK
Prince Harry is set to return to the UK next week for the first time in years, but will reportedly be forced to stay in a hotel as he has been denied a request to stay at Windsor Castle
12 hours ago
Wales Online
Rishi Sunak gives State Pension update as he's challenged on 'cut'
The Prime Minister was asked the question the Commons on Wednesday
19 hours ago

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BHP Set to Dethrone Codelco as World’s Biggest Copper Producer

Codelco Eyes Partnerships to Help Boost Ailing Copper Production

Latest stories

Elon Musk lays off Tesla execs, plans more cuts

Tesco, Sainsbury's, Asda drivers urged to fill up car when tank is 'quarter full not empty'

Lidl quizzed by MPs over ‘Strathvale farm’ Scottish chicken

Real-Life Lessons for Thriving in the Energy Transition

Shell to close Chinese green power generation business

After rising 176%, is there still value left in the Rolls-Royce share price for investors?

EVs are getting smarter and cheaper in China

Volkswagen’s electric car orders double in Europe

Weak demand, new model ramp up hit Europe's top automakers

UPDATE 3-Diamondback Energy beats first quarter profit estimates on higher production

UK manufacturing sector shrinks again as firms impacted by shipment delays

Walmart to close U.S. health clinics, citing costs

McDonald's posts rare profit miss as customers turn picky

Jobs at restaurants in Suffolk under threat amid hotel chain cutbacks

UPDATE 5-Hyundai Motor Group plans hybrid cars for India in strategy shift, sources say

Mike Tindall's true feelings about Prince Harry revealed in one-word remark

Ronnie O’Sullivan shows ‘unbelievable’ sportsmanship in incident at World Snooker Championship

James Martin reveals 'spur of the moment' action that led to split from partner

Prince Harry 'forced to stay in hotel' when he returns to UK

Rishi Sunak gives State Pension update as he's challenged on 'cut'