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☆ James to start for Chelsea in Blackburn League Cup tie
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

"I can confirm he is going to start," Pochettino told reporters on Tuesday. With just three wins in 10 Premier League games, Chelsea are in 11th place, 14 points behind leaders Tottenham Hotspur. "To go through the competition (League Cup) is important, then go to Tottenham and receive Manchester City to get momentum." Pochettino takes Chelsea to face his old club Spurs in the league on Monday but the Argentine won't let that influence his team selection for the League Cup game on Wednesday. The five-time League Cup winners beat AFC Wimbledon and Brighton & Hove Albion in the previous rounds.

Persons: Chelsea's Reece James, Matthew Childs, Reece James, Mauricio Pochettino, Chelsea's, Pochettino, Trevor Stynes, Ken Ferris Organizations: Soccer Football, Premier League, Chelsea, Brentford, Blackburn Rovers, Wednesday's League, Liverpool, Stamford Bridge, Tottenham Hotspur, Tottenham, Manchester City, Spurs, Argentine, League, AFC Wimbledon, Brighton & Hove Albion, Thomson Locations: Stamford, London, Britain, Chelsea

☆ IHG says funding challenges holding back new hotel development
▼ + stars: | 2023-10-20 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

A general view of an Intercontinental Hotel at The O2 in London, Britain October 20, 2020. Its shares were down 3.6% by 1044 GMT, with Bernstein analyst Richard Clarke attributing the drop to the slowdown in net unit growth and fears it might miss its full-year guidance. "We definitely see the light at the end of the tunnel," he said, adding that IHG was growing in new signings and system size. The group recorded growth across its leisure, business travel and group travel segments, Maalouf said in a statement. The hotel industry has benefited from a post-pandemic boom in leisure travel as people splurge their savings on vacations despite rising costs of living.

Persons: Matthew Childs, IHG, Bernstein, Richard Clarke, Leo Carrington, Elie Maalouf, Maalouf, Glover, Yadarisa, Subhranshu Sahu, Tomasz Janowski, Jan Harvey Organizations: O2, REUTERS, Citi, U.S, Crowne Plaza, Regent, Thomson Locations: London, Britain, China, Israel, Bengaluru

☆ IHG upbeat about 2023 results despite challenges holding back new hotels
▼ + stars: | 2023-10-20 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +2 min

The owner of the Crowne Plaza, Regent and Hualuxe hotel chains flagged economic uncertainties ahead and said that short- term financing challenges were holding back development of new hotels. The group recorded growth across its leisure, business travel and group travel segments, CEO Elie Maalouf said in a statement. While business travel revenue was already ahead of 2019 levels in the third quarter, group and meetings revenue was still below, finance chief Michael Glover told reporters. The hotel industry has benefited from a boom in leisure travel demand after the pandemic, as people splurge their savings on vacations despite rising costs of living. Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Childs, Bernstein, Richard Clarke, Elie Maalouf, IHG, Michael Glover, Glover, Yadarisa, Subhranshu Sahu, Tomasz Janowski Organizations: O2, REUTERS, Crowne Plaza, Regent, Thomson Locations: London, Britain, China, Israel, Tel Aviv, Bengaluru

☆ UK budget deficit undershoots forecast in Sept: ONS
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

A view of the financial district in London, Britain, September 23, 2023. REUTERS/Matthew Childs/File photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - Britain recorded a smaller-than-expected budget deficit of 14.347 billion pounds ($17.37 billion) in September, the Office for National Statistics said on Friday. A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 18.3 billion pounds. Government borrowing between April and September, the first half of the 2023/24 financial year, totalled 81.7 billion pounds, 15.3 billion pounds more than in the first half of the previous financial year. British finance minister Jeremy Hunt is due to give a mid-year update on his budget plans alongside new borrowing forecasts from the Office for Budget Responsibility (OBR) on Nov. 22.

Persons: Matthew Childs, Jeremy Hunt, Hunt, David Milliken, William James Our Organizations: REUTERS, National Statistics, Hunt's Conservative Party, Thomson Locations: London, Britain

"If interest rates remain high ... it's that much harder for people to buy the car. The price of the popular Model Y SUV was "almost unchanged" for consumers even after Tesla's price cuts, Musk said, accounting for higher financing costs. Reuters GraphicsPRICE CUTSTesla's aggressive price cuts this year have battered its gross margin even as it faces stiff competition in China from local automakers. Still, it stuck to its annual production target of 1.8 million cars, a sign that the price cuts were buoying demand to an extent. In the second quarter, Tesla had posted a gross margin of 18.2%.

Persons: Matthew Childs, Elon Musk, Musk, Tesla, Jesse Cohen, Akash Sriram, Hyunjoo Jin, Joe White, Abhirup Roy, Sayantani Ghosh, Sriraj Kaluvilla, Deepa Babington, Jamie Freed Organizations: REUTERS, General Motors, Chrysler, Reuters, Visible Alpha, Revenue, Thomson Locations: London, Britain, Mexico, Nuevo Leon, China, Bengaluru, Hyunjoo, San Francisco, Detroit

☆ Tesla's Q3 margin slightly misses analysts' estimates
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Matthew Childs/File Photo Acquire Licensing RightsOct 18 (Reuters) - Tesla's (TSLA.O) third-quarter gross margin shrank from a year earlier, slightly missing Wall Street estimates, as the electric automaker slashed prices to boost demand in the face of higher interest rates. The company reported a gross margin of 17.9% for the quarter ended September, compared with 25.1% a year earlier, when it had not yet begun the price cuts. In the second quarter, Tesla posted a gross margin of 18.2%. Wall Street had on average expected Tesla to post a margin of 18.02%, according to 21 analysts polled by Visible Alpha. According to LSEG data, an average of 17 analysts polled expected gross margin of 18.25%.

Persons: Matthew Childs, Tesla, Akash Sriram, Hyunjoo Jin, Sriraj Kaluvilla, Deepa Babington Organizations: REUTERS, Investors, Visible Alpha, Revenue, Thomson Locations: London, Britain, Bengaluru, Hyunjoo, San Francisco

☆ Chinese suppliers to invest in Mexican state where Tesla planning factory - state officials
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsMEXICO CITY, Oct 18 (Reuters) - Chinese suppliers for Tesla will invest in the northern Mexican state of Nuevo Leon where the automaker is planning to build a new factory, state officials said on Wednesday. The planned investments include $700 million from Ningbo Tuopu Group and $260 million from Hesai Technology, a state official said. Reporting by Daina Beth SolomonOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Childs, Daina Beth Solomon Organizations: REUTERS, MEXICO CITY, Tesla, Ningbo Tuopu Group, Hesai Technology, Thomson Locations: London, Britain, MEXICO, Mexican, Nuevo Leon, Ningbo

But the company on Wednesday stuck to its annual production target of 1.8 million vehicles, suggesting the discounts were driving demand. Some analysts said Tesla may need to cut prices further to achieve its annual delivery target amid a broader slowdown in electric vehicle demand. In the second quarter, Tesla had posted a gross margin of 18.2%. Wall Street had on average expected Tesla to post a margin of 18.02%, according to 21 analysts polled by Visible Alpha. According to LSEG data, an average of 17 analysts polled expected gross margin of 18.25%.

Persons: Matthew Childs, Tesla, Akash Sriram, Hyunjoo Jin, Abhirup Roy, Sayantani Ghosh, Sriraj Kaluvilla, Deepa Babington Organizations: REUTERS, Investors, Visible Alpha, Revenue, Thomson Locations: London, Britain, Texas, Bengaluru, Hyunjoo, San Francisco

☆ Chinese Tesla suppliers to invest nearly $1 bln in northern Mexico - state officials
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Matthew Childs/File Photo Acquire Licensing RightsMEXICO CITY, Oct 18 (Reuters) - Two Chinese suppliers for Tesla will invest nearly a billion dollars in the northern Mexican state of Nuevo Leon where the automaker is planning a new factory, Nuevo Leon Governor Samuel Garcia said during a trip to Shanghai on Wednesday. The planned investments include $700 million from Ningbo Tuopu Group (601689.SS) and $260 million from Hesai Technology , a Nuevo Leon representative said. Ningbo Tuopu Group develops shock absorption products and other auto parts, while Hesai Technology makes lidar light sensors for applications like autonomous vehicles and robots. Ningbo is expected to create some 10,000 jobs, and Hesai, up to 4,000, Nuevo Leon officials said. Tesla has not yet begun construction in Nuevo Leon, and its timeline for starting production is unclear.

Persons: Matthew Childs, Samuel Garcia, Tesla, Garcia, Daina Beth Solomon, Raul Cortes, Kylie Madry, Stephen Eisenhammer Organizations: REUTERS, MEXICO CITY, Tesla, Nuevo Leon, Ningbo Tuopu Group, Hesai Technology, Ningbo Tuopu, Hesai, Nuevo, Thomson Locations: London, Britain, MEXICO, Mexican, Nuevo Leon, Nuevo, Shanghai, Ningbo, Austin , Texas, U.S, Mexico, Austin

☆ Tesla to recall nearly 55,000 Model X vehicles, auto regulator says
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowOct 17 (Reuters) - The U.S. auto regulator on Tuesday said Tesla (TSLA.O) will recall 54,676 Model X vehicles manufactured between 2021-2023, as the vehicle controller is likely to fail to detect low brake fluid and not display a warning light. Tesla has released an over-the-air (OTA) software update, free of charge, to fix the issue, the National Highway Traffic Safety Administration (NHTSA) said. The electric vehicle maker is not aware of any crashes, injuries or deaths that may be related to this condition as of Oct. 10, the regulator added. In August, NHTSA opened an investigation into 280,000 new Tesla Model 3 and Model Y vehicles over reports of loss of steering control and power steering.

Persons: Matthew Childs, Tesla, Jahnavi, Janane Venkatraman Organizations: REUTERS, Traffic Safety Administration, Reuters, NHTSA, Tesla, Thomson Locations: London, Britain, U.S, Bengaluru

Official data showed economic output expanded by 0.2% in August from July, matching the median forecast in a Reuters poll of economists. "The UK economy is holding up but remains in a precarious state," said David Bharier, head of research at the British Chambers of Commerce. The data showed Britain's huge services sector grew by a slightly stronger than expected 0.4% in August from July while manufacturing and construction shrank by 0.8% and 0.5%. Investors are putting a chance of less than one in four on the BoE resuming its rate hikes after its next scheduled meeting in November. Britain's economy stood 2.1% bigger than in February 2020, just before the coronavirus pandemic hit, the ONS said.

Persons: Matthew Childs, Sterling, Elizabeth's, BoE, David Bharier, William Schomberg, Andy Bruce, Kate Holton Organizations: REUTERS, Bank of England, Monetary Fund, Chambers of Commerce, European Union, ONS, Thomson Locations: London, Britain, Miral

☆ No Israeli, Palestinian flags allowed at Wembley for England games - FA
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

England host Australia in a friendly on Friday before taking on Italy in a European Championship qualifier on Tuesday. "On Friday evening, we will remember the innocent victims of the devastating events in Israel and Palestine," the FA said in a statement. "We will only permit flags, replica kits and other representations of nationality for the competing nations inside Wembley Stadium for the upcoming matches against Australia and Italy." England and Australia players will wear black armbands, the FA added, and there will be a period of silence before kick off. Reporting by Anita Kobylinska in Gdansk; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: England's Marcus Rashford, Lewis Dunk, Jordan Henderson, Phil Foden, Jude Bellingham, Matthew Childs, Anita Kobylinska, Ken Ferris Organizations: Soccer Football, Australia, Wembley, Thomson Locations: George's, Burton, Trent, Britain, Italy, England, Australia, Israel, Palestine, Gaza, Gdansk

☆ Andrew Flintoff, former England cricket captain, speaks on camera for first time since ‘Top Gear’ crash
▼ + stars: | 2023-10-05 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

The December 2022 crash left Flintoff with reported broken ribs and facial injuries. Play with passion, play with pride, play with belief. Flintoff (second from left) worked with the England team last month. In February that year, Flintoff crashed into a market stall while filming the show but escaped unscathed. The former cricket star is not the only “Top Gear” host to have been involved in a high-speed crash while filming the show.

Persons: Andrew “ Freddie ” Flintoff, Flintoff, Tom Hartley, Hartley, “, they’ll, ” Flintoff, Matthew Childs, Richard Hammond Organizations: CNN, Former England, England Cricket, New Zealand, England, BBC Locations: England, Australia

☆ Stokes doubtful for England's World Cup opener, Brook may debut
▼ + stars: | 2023-10-04 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

England sacrificed opener Jason Roy to accommodate Brook, who has been marked out as a future superstar of the game because of his explosive batting. "We'll make the right call here - if he's not fit to play, he's not fit to play," Buttler said. Brook, an automatic pick in England's test side and part of their T20 World Cup winning team last year, is likely to be the beneficiary of circumstances. The start of his international career has been outstanding in T20 cricket and in the test format," Buttler said. We know from test cricket, he can play big innings.

Persons: Harry Brook, Matthew Childs, Harry Brook's, Ben Stokes, Jason Roy, Stokes, Jos Buttler, He's, Buttler, Narendra Modi, he's, It's, Harry, Amlan Chakraborty, Christian Radnedge Organizations: New Zealand, Rights, New, Narendra, Thomson Locations: England, New, London, Britain, Rights AHMEDABAD, India, Thursday's, New Zealand, Ahmedabad, New Delhi

Cinven this month signed an accord with GIC, Singapore's sovereign fund, and another two investors to purchase from them 140 million euros of Tier2 Eurovita bonds, the source added. Cinven, which acquired Eurovita in 2017, also launched a tender offer to buy back another 20 million euros of bonds from investors including Italian financial institutions, so that only around 9 million remain outstanding, the source said. Italian insurance authorities placed Eurovita under special administration this year, the first time they have taken such a step, after rising rates blew a hole in the life insurer's cash reserves. Instead, Cinven was asked to carry out the debt buyback and cancel the bonds to support a solvent liquidation, one of the people added. Like other life insurers, especially those relying on banks to sell products, Eurovita was hit by early redemptions once rates started rising and savers sought better returns.

Persons: Matthew Childs, Cinven, Eurovita, Assicurazioni, Valentina Za, Emilio Parodi, Josie Kao Organizations: REUTERS, Reuters, GIC, Germany's Allianz, Allianz, Thomson Locations: London, Britain, Cinven

☆ Rain washes out third England v Ireland one-dayer
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

A no result at the Gloucestershire Cricket Stadium means the three-match series was won 1-0 by England, after the first ODI was abandoned without a ball being bowled due to rain before Rehan Ahmed inspired England to a 48-run victory in the second. Ireland won the toss on Tuesday and elected to bowl, with England's openers Phil Salt and Will Jacks getting them off to a strong start as they combined for 87 runs. This series was part of England's preparations as they look ahead to their title defence at next month's 50-over World Cup in India. England face New Zealand in the opening match of the World Cup on Oct. 5. Reporting by Aadi Nair in Bengaluru, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Childs, Ben Duckett, Rehan Ahmed, Phil Salt, Will Jacks, Craig Young, Duckett, Zak Crawley, Crawley, Young, Sam Hain, England's Jacks, Aadi Nair, Pritha Sarkar Organizations: Cricket, England, Ireland, Gloucestershire Cricket, New Zealand, Thomson Locations: Bristol, Britain, England, Irish, India, New, Bengaluru

☆ NBCUniversal names insider Rick Cordella president of sports division
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

General Sport - Leaders Sport Summit2012 - Stamford Bridge - 10/10/12 Rick Cordella, SVP and GM NBC Sports and Olympics Digital during a talk called "The Digital Olympics: Expensive experiment or a new era in sport?" during the summit Mandatory Credit: Action Images / Matthew Childs/File Photo Acquire Licensing RightsSept 22 (Reuters) - Comcast's (CMCSA.O) NBCUniversal on Friday appointed veteran executive Rick Cordella as president of its sports division. Cordella will take charge of NBC Sports' platforms including NBC Olympics, Golf Channel and oversee sports on the company's streaming platform Peacock, home to Sunday Night Football and NASCAR. He was most recently president of programming for NBC Sports and Peacock Sports. In the role, he led NBCUniversal's sports programming strategy across broadcast, cable and streaming and oversaw sports betting and sports fantasy.

Persons: Rick Cordella, Matthew Childs, NBCUniversal, Cordella, Arsheeya, Dawn Chmielewski, Shailesh Organizations: Sport, Summit2012, GM NBC Sports, Olympics, NBC Sports, NBC, Golf Channel, Sunday Night Football, NASCAR, Peacock, Thomson Locations: Stamford, Bengaluru, Los Angeles

☆ Tesla, Saudi Arabia in early talks for EV factory - WSJ
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. One of the proposals the kingdom is considering involves extending financing to commodities trader Trafigura for a flailing Congo cobalt and copper project, which could help provide a Tesla factory with supplies, the WSJ report said. Tesla did not immediately respond to Reuters requests for comment, while Saudi Arabia's sovereign fund, the Public Investment Fund, declined to comment. Musk said in May Tesla would probably pick a location for a new factory by the end of 2023. Tesla has a goal to sell 20 million vehicles a year by 2030, up from around 1.3 million in 2022.

Persons: Matthew Childs, Tayyip Erdogan, Tesla, Elon Musk, Benjamin Netanyahu, Musk, Samrhitha Arunasalam, Arpan Varghese, Arun Koyyur Organizations: REUTERS, U.S, Tesla, Wall Street, Democratic, Lucid, Public Investment Fund, Thomson Locations: London, Britain, Saudi Arabia, Turkey, California, Democratic Republic of Congo, Congo, Saudi, Mexico, Nuevo Leon, Bengaluru, Rachna, Dubai

☆ Malan ton leads England to series victory over NZ
▼ + stars: | 2023-09-15 | by ( John Mehaffey | ) www.reuters.com time to read: +3 min

"Good run, especially scoring some runs here at the home of cricket and leading into a World Cup. It was a bit slow, when they built pressure I found it hard to score," Malan said. We had to get off to a good start with the ball and we did that.”Butler said his team were in a good position for the World Cup. England's victory will give them a boost ahead of their World Cup title defence. The teams will then meet in the opening match of the 50-overs World Cup in India on Oct. 5.

Persons: England's Dawid Malan, Matthew Childs, Dawid Malan, Moeen Ali, Malan, Jos Buttler, Devon Conway, Buttler, Henry Nicholls, Moeen snuffed, Rachin Ravindra, Sam Curran's, Tim Southee, He'll, Tom Latham, Joe Root, Liam Livingstone, " Malan, I've, Captain Buttler, ” Butler, ” Ravindra, Root, Harry Brook, Aadi Nair, John Mehaffey, Pritha Sarkar Organizations: New Zealand, England, Thomson Locations: England, New, London, Britain, New Zealand, Moeen, Ireland, Bangladesh, India, Bengaluru

☆ 'Speak to Pep', Southgate says City also use Foden out wide
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Foden has said he feels his game is more suited to the central number 10 role but Southgate has been reluctant to use the 23-year-old there. "You'd have to speak to Pep, who is the best coach in the world, who plays him from wide. He's always got the freedom to drift if we play him wide and that's important." England were held to a 1-1 draw by Ukraine on Saturday, their first dropped points of the Euro 2024 qualifying campaign. Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Phil Foden, Ukraine's, Matthew Childs, Gareth Southgate, Pep Guardiola, Foden, Southgate, Pep, Pearl Josephine Nazare, Peter Rutherford Organizations: Soccer Football, Tarczynski, Manchester City, Ukraine, Thomson Locations: Ukraine, Wroclaw, Poland, England, Bengaluru

☆ Tesla jumps on prediction supercomputer unit could add $600 bln to mkt value
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts led by Adam Jonas said in a note on Sunday. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares . That's about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate from Tesla's network services business to $335 billion in 2040, from $157 billion earlier. Jonas expects the unit to account for more than 60% of Tesla's core earnings by 2040, nearly doubling from 2030.

Persons: Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Organizations: REUTERS, Dojo, Ferrari's U.S, Ford, Motors, Thomson Locations: London, Britain, Bengaluru

☆ Tesla supercomputer could boost EV maker's market cap by $600 bln -Morgan Stanley
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla's (TSLA.O) supercomputer, Dojo, to train AI models for autonomous cars could give the electric vehicle maker an "asymmetric advantage" and boost its market capitalization by nearly $600 billion, or 76%, Morgan Stanley estimated. Tesla started production of Dojo in July and plans to spend more than $1 billion through next year. Dojo can open up new addressable markets that "extend well beyond selling vehicles at a fixed price," Morgan Stanley analysts, led by Adam Jonas, said in a note published on Sunday. The Wall Street brokerage upgraded its recommendation on Tesla's stock to "overweight" from "equal-weight" and made it their "top pick," replacing Ferrari's U.S.-listed shares . That compares with its current market value of about $789 billion, after the stock closed at $248.5 on Friday.

Persons: Matthew Childs, Morgan Stanley, Tesla, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Savio D'Souza Organizations: REUTERS, Dojo, Ferrari's U.S, Thomson Locations: London, Britain, Bengaluru

☆ Tesla jumps as analyst predicts $600 billion value boost from Dojo
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsSept 11 (Reuters) - Tesla rallied 6% on Monday after Morgan Stanley said its Dojo supercomputer could power a near $600 billion surge in the electric-car maker's market value by helping speed up its foray into robotaxis and software services. The Wall Street brokerage upgraded Tesla's stock to "overweight" from "equal-weight" and replaced Ferrari's U.S.-listed shares with it as "top pick". That is about 76% higher than Tesla's market value of about $789 billion, based on the stock's close of $248.5 on Friday. Morgan Stanley raised its revenue estimate for Tesla's network services business to $335 billion in 2040 from $157 billion earlier.

Persons: Matthew Childs, Tesla, Morgan Stanley, Adam Jonas, Jonas, Roshan Abraham, Susan Mathew, Medha Singh, Savio D'Souza, Sherry Jacob, Phillips, Rashmi Aich, Anil D'Silva Organizations: REUTERS, Dojo, Ford, Motors, Thomson Locations: London, Britain, Ferrari's U.S, Bengaluru

☆ Tesla sues Chinese firm over tech secret infringement -Chinese state media
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: 1 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowXiaomi Corp FollowBEIJING, Sept 5 (Reuters) - Tesla Shanghai has sued a Chinese firm over tech secret infringement and unfair competition disputes, Shanghai Securities Journal reported on Tuesday. The lawsuit against Bingling Intelligent Technology, a chip designer and auto parts maker based in Changzhou, Jiangsu province, will be heard in the Shanghai intellectual property court on October 10, according to the report. A investment fund unit of Xiaomi owns 11.9% of Bingling, the report said, citing Chinese business data platform Tianyancha. Reporting by Qiaoyi Li and Brenda Goh; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Childs, Qiaoyi Li, Brenda Goh, Jason Neely Organizations: REUTERS, Shanghai, Shanghai Securities, Bingling, Technology, Xiaomi, Thomson Locations: London, Britain, BEIJING, Changzhou, Jiangsu province, Shanghai

☆ Luton ready to crank up volume in first top-flight home game for 31 years
▼ + stars: | 2023-08-31 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

But anticipation is building for the visit of West Ham, who will become the first top-flight team to play a league match at Kenilworth Road since Aston Villa 31 years ago. The volume created by the Hatters fans crammed in on Friday will shake the 118-year-old stadium to its foundations. Forward Cauley Woodrow, who scored in the League Cup win at Kenilworth Road against Gillingham this week, said Luton needed to turn their home into an intimidating 'fortress'. Arsenal's priority will be avoiding any repeat of the early goals they have conceded on a regular basis at home of late. Andreas Pereira's strike for Fulham after 57 seconds last weekend meant the Gunners became the first Premier League team to concede a first-minute goal three times in a calendar year.

Persons: Matthew Childs, hemming, Rob Edwards, We've, Woodrow, Luton, Bramall, Mikel Arteta's, Andreas Pereira's, Martyn Herman, Ken Ferris Organizations: Soccer, Luton Town, Gillingham, Kenilworth, Luton, West Ham United, Burnley, Brighton & Hove Albion, Chelsea, Premier League, Coventry City, Aston Villa, Hatters, League, West Ham, Hammers, Manchester City, Fulham, London, Tottenham Hotspur, Sheffield United, Everton, Newcastle United, Arsenal, Manchester United, Gunners, Thomson Locations: Luton, Britain, Kenilworth, West Ham, West, Bramall Lane, Liverpool, Brighton, Saturday's

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