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☆ Apple's iPhone 15 launch clouded by China problems
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The iPhone made up more than half of Apple's $394.3 billion in sales last year, but it faces new challenges with selling in China, the Cupertino, California firm's third-largest market. Huawei wants to gain an edge on Apple with add-on features like satellite calling that relies on China's government-backed network. Apple's current iPhone lineup includes satellite capabilities, though they are meant only for emergency situations. "The truth of the matter is, we're in a very down smartphone market," said Bob O'Donnell, head of TECHnalysis Research. Reporting by Stephen Nellis in Cupertino, California; Editing by Peter Henderson and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Apple, Ben Bajarin, Bob O'Donnell, O'Donnell, Tim Cook's, Siri, Stephen Nellis, Peter Henderson, Lisa Shumaker Organizations: Apple, REUTERS, Rights, Huawei Technologies, Huawei, iPhones, Apple Watch, Creative, Counterpoint Research, TECHnalysis Research, Thomson Locations: Rights CUPERTINO , California, China, Cupertino , California

☆ Apple's plan for climate-friendly watches: Clean energy in factories
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

The biggest single reduction in the emissions from the new watches came from using clean electricity to manufacture them. Apple on Tuesday said that 300 of its suppliers have now committed to using clean energy for Apple production. But another emissions source was Apple's speedy transportation network, which relies heavily on planes. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers. Apple has been focused on cutting carbon emissions for some time.

Persons: Steve Jobs, Loren Elliott, Lisa Jackson, Jackson, John Ternus, Apple, Stephen Nellis, Peter Henderson, Lisa Shumaker Organizations: Steve, Apple, REUTERS, Rights, Reuters, Thomson Locations: Cupertino , California, U.S, Rights CUPERTINO , California, China

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. Amazon will purchase the credits from the 1PointFive direct air capture (DAC) plant in Texas, which is being developed by oil company Occidental’s Oxy Low Carbon Ventures subsidiary and will use them to help meet its climate target of net zero carbon emissions by 2040. The company did not reveal any financial details of the deal, but developers of DAC technology have said removal credits currently cost in the mid-to-high-triple digits in dollars per metric ton. Microsoft last week signed a multi-year deal for the purchase of 315,000 metric tons with U.S. project developer Heirloom. Jamey Mulligan, head of carbon neutralization science and strategy at Amazon said an “all hands on deck approach” was needed to scale up the technology.

Persons: Pascal, Jamey Mulligan, ”, Mulligan, Susanna Twidale, Sharon Singleton Organizations: REUTERS, Carbon Ventures, DAC, Microsoft, U.S, Amazon, U.S . Department of Energy, Thomson Locations: Lauwin, France, Texas, Paris, Occidental

☆ Analysis: FTC settlement could shelter Amgen from US price cuts, taxes
▼ + stars: | 2023-09-05 | by ( Deena Beasley | ) www.reuters.com time to read: +5 min

An Amgen sign is seen at the company's office in South San Francisco, California October 21, 2013. With Horizon, Amgen acquires drugs that won't be affected by new U.S. negotiation requirements for blockbuster medications as well as possible tax advantages stemming from Horizon's headquarters in Ireland. Analysts said the Horizon deal could also help Amgen's tax situation. The United States has largely eliminated once-lucrative corporate tax benefits for pharmaceutical manufacturing operations in Puerto Rico, a U.S. territory. Horizon offers Amgen "potentially a better tax jurisdiction related to Irish manufacturing plants ... Amgen has a new manufacturing process they could potentially move there," Cowen's Werber said.

Persons: Robert Galbraith, Abiel Garcia, John Kness, Donald Trump, Garcia, Evan Seigerman, Lina Khan, Cowen, Biden, Michael Yee, Amgen, Cowen's Werber, Deena Beasley, Peter Henderson, Paul Simao Organizations: REUTERS, U.S . Federal Trade, Horizon Therapeutics, U.S, District, Federal, Activision, Horizon, Amgen, BMO Capital Markets, FTC, Reuters, U.S . Food, Drug Administration, Jefferies, Medicare, Internal Revenue Service, United, Thomson Locations: South San Francisco , California, Amgen, Kesselman, Ireland, U.S, Puerto Rico, United States, Irish

☆ Tesla faces more questions about Autopilot safety from US regulator
▼ + stars: | 2023-08-29 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +2 min

A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. NHTSA ordered Tesla to answer questions and produce documents but did not order any changes. "The resulting relaxation of controls...could lead to greater driver inattention and failure of the driver to properly supervise Autopilot," NHTSA said in its letter to Tesla. The agency is investigating the performance of Autopilot after identifying more than a dozen crashes in which Tesla vehicles hit stationary emergency vehicles. It is also investigating whether Tesla vehicles adequately ensure drivers are paying attention when using the driver assistance system.

Persons: Mike Blake, Tesla, inattention, Elon Musk, Hyunjoo Jin, Peter Henderson, Lisa Shumaker Organizations: Tesla, REUTERS, Traffic Safety Administration, NHTSA, Thomson Locations: Westminster , California, U.S

☆ US regulator asks for information on Tesla Autopilot monitoring drivers
▼ + stars: | 2023-08-29 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +2 min

A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. "The resulting relaxation of controls...could lead to greater driver inattention and failure of the driver to properly supervise Autopilot," NHTSA said in its letter to Tesla. The agency is investigating the performance of Autopilot after identifying more than a dozen crashes in which Tesla vehicles hit stationary emergency vehicles. It is also investigating whether Tesla vehicles adequately ensure drivers are paying attention when using the driver assistance system. In June 2022, NHTSA upgraded an earlier probe of 830,000 Tesla vehicles into an engineering analysis - a required step before it could potentially demand a recall.

Persons: Mike Blake, Tesla, inattention, Hyunjoo Jin, Peter Henderson, Lisa Shumaker Organizations: Tesla, REUTERS, Traffic, Administration, NHTSA, Thomson Locations: Westminster , California, U.S

☆ U.S. regulator asks for information on Tesla Autopilot monitoring drivers
▼ + stars: | 2023-08-29 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +2 min

A Tesla Model 3 vehicle drives on autopilot along the 405 highway in Westminster, California, U.S., March 16, 2022. Federal regulators are honing in on the systems Tesla uses to ensure that drivers are paying attention while their vehicle is operating on Autopilot. "The resulting relaxation of controls...could lead to greater driver inattention and failure of the driver to properly supervise Autopilot," NHTSA said in its letter to Tesla. The agency is investigating the performance of Autopilot after identifying more than a dozen crashes in which Tesla vehicles hit stationary emergency vehicles. It is also investigating whether Tesla vehicles adequately ensure drivers are paying attention when using the driver assistance system.

Persons: Mike Blake, inattention, Tesla, Hyunjoo Jin, Peter Henderson Organizations: Tesla, REUTERS, NHTSA, Traffic, Administration, Thomson Locations: Westminster , California, U.S

The lawsuit, filed against Tesla by the passengers and Lee's estate, accuses Tesla of knowing that Autopilot and other safety systems were defective when it sold the car. Autopilot failed to brake, steer or do anything to avoid the collision, according to the lawsuit filed by Banner's wife. Tesla denied liability for both accidents, blamed driver error and said Autopilot is safe when monitored by humans. Tesla said in court documents that drivers must pay attention to the road and keep their hands on the steering wheel. "Elon Musk has acknowledged problems with the Tesla autopilot system not working properly," according to plaintiffs' documents.

Persons: Casey, Elon, Musk, Tesla, Micah Lee’s, Lee, Stephen Banner’s, Banner's, Reuters ’, Matthew Wansley, Bryant Walker Smith, Jonathan Michaels, we're, Christopher Moore, Adam, Nicklas, Gustafsson, Elon Musk, Richard Baverstock, Trey, Lytal, Dan Levine, Hyunjoo Jin, Peter Henderson, Grant McCool Organizations: Tesla, China International Consumer Products, REUTERS, FRANCISCO, Tesla Inc, Reuters, Cardozo School of Law, University of South, Thomson Locations: Haikou, Hainan province, China, California, Los Angeles, Florida, Miami, University of South Carolina, San Francisco

Hawaiian Electric CEO Shelee Kimura received a cash bonus in 2022 based on her performance against 10 measures including profit and customer satisfaction. Wildfire risk mitigation was not on the list, according to the utility’s pay disclosures. Wildfire risk had been a concern for several years before the blaze ripped through Lahaina, a historic resort town in Maui. Idacorp declined to comment on its pay practices and how they relate to wildfire mitigation. “You don’t want a wildfire disaster to be the catalyst for a change in public policy,” said Glazer, who supports linking executive pay to wildfire mitigation.

Persons: Mike Blake, ”, Alison Silverstein, Shelee Kimura, Kimura, “, Michael Cerasoli, Michael Underhill, Brian Buckham, ” Buckham, Idacorp, Larry Glazer, Glazer, Tim McLaughlin, Tom Hals, Peter Henderson, Noeleen Walder, Rich Valdmanis, Marguerita Choy Organizations: Workers, REUTERS, Hawaiian Electric, U.S . Federal Energy Regulatory, Electric, Hawaii Wildfire Management Organization, San Diego Gas &, Global Renewable Energy Income Fund, Reuters, Capital Innovations, SEC, Portland General Electric Co, Boston’s Mayflower Advisors, Thomson Locations: Lahaina, Maui, Hawaii, U.S, California, Honolulu, Maui ., Idaho , Oregon, Washington, Idaho

☆ Bank of America forecasts more than 30% upside for this live entertainment stock
▼ + stars: | 2023-08-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bank of America thinks Madison Square Garden is one of the best plays in the live entertainment sector, and investors need to capitalize on it. The firm initiated the stock on Tuesday with a buy rating, accompanied by a $41 per share price target. "Post its spinoff from Sphere, we view MSGE—owner of iconic venues including Madison Square Garden and The Chicago Theatre—as an attractive opportunity to own a growth-oriented, pure-play live entertainment company," Henderson said. Madison Square Garden stock has slipped nearly 19% in the past three months alone, according to FactSet. MSGE YTD mountain Madison Square Garden Entertainment in 2023.

Persons: Peter Henderson, Henderson, — CNBC's Michael Bloom Organizations: of America, Madison, Garden, Chicago Theatre, Madison Square Garden, Garden Entertainment Locations: New York City, Madison

☆ Disney hikes streaming prices, focuses on costs as Iger moves to reassure investors
▼ + stars: | 2023-08-10 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +5 min

Disney also posted quarterly revenue below expectations and fell slightly behind analyst projections for U.S. subscribers of Disney+. A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu. The unit had lower operating income at its domestic parks, due to decreases at Walt Disney World Resort in Orlando, Florida.

Persons: Walt Disney, Bob Iger, ’, “, I've, ” Iger, Wall, Iger, Mike Blake, Jesse Cohen, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: ESPN, Disney, Hulu, Netflix, Disney Studios, REUTERS, Indian Premiere League, Investing.com, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Hollywood, Europe, Canada, Burbank , California, U.S, India, Disney's, Orlando , Florida, Los Angeles, Bengaluru

☆ Disney cost cuts exceeding targets but quarterly revenue misses
▼ + stars: | 2023-08-09 | by ( Dawn Chmielewski | ) www.reuters.com time to read: +4 min

The entertainment conglomerate also said it fell slightly behind analyst projections for U.S. subscribers of Disney+. It added 800,000 Disney+ subscribers, 100,000 subscribers shy of analyst estimates, and shed 12.5 million subscribers to the Disney Hotstar service in India, or nearly a quarter of its subscribers, as it gave up rights to Indian Premiere League cricket matches. Disney's traditional television business continued its decline, with lower revenue and operating income across the company's broadcast and cable TV business. TV revenue for the quarter decreased 7% to $6.7 billion, while operating income fell 23% to $1.9 billion. Disney's direct-to-consumer business reported a 9% increase in revenue to $5.5 billion, as the average revenue per subscriber rose at Disney+ and Hulu.

Persons: Mike Blake, Walt Disney, Bob Iger, Iger, Disney, Strange, Disney's, Dawn Chmielewski, Chavi Mehta, Aditya Soni, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: Disney Studios, REUTERS, Disney, Indian Premiere League, Hulu, Guardians, Shanghai Disney Resort, Walt Disney World, Thomson Locations: Burbank , California, U.S, India, Orlando , Florida, Los Angeles, Bengaluru

☆ San Francisco drives tech; will it drive away robot taxis?
▼ + stars: | 2023-08-07 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +7 min

[1/3] A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. Futuristic test vehicles from Cruise and Waymo are a common sight in some parts of San Francisco. The vote comes at a critical time for San Francisco, which is grappling with thousands of tech job losses, firms leaving the city, and COVID-era work-from-home policies that have contributed to a hollowed out downtown. loadingRamón Iglesias, another San Francisco resident, said that though he’d seen the videos and some erratic behavior from the cars, he supports the expansion and worries any further obstacles could drive tech companies away. “We have a very strong Luddite segment here in San Francisco and you see places like Las Vegas and Miami go out of their way to embrace tech,” said Iglesias, a data scientist.

Persons: Heather Somerville, Waymo, ”, Kyle Vogt, X, ” Cruise, San Francisco, Cruise, Julia Ilina, Mike Smith, Ramón Iglesias, he’d, Iglesias, “, London Breed, Greg Bensinger, Peter Henderson, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, Motors, San, San Francisco County Transportation Authority, Cruise, California Public Utilities Commission, Las, Ford, Tesla, Francisco, FIRST, ”, London, Thomson Locations: San Francisco, California, U.S, Francisco, San, San Francisco County, State, dazzled, Dallas, Miami, Las Vegas, Los Angeles

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

The San Francisco-based company's shares rose about 4% in premarket trading, while rival Lyft's shares increased 2%, as Uber also reported a surprise second-quarter profit. However, Uber reported second-quarter revenue of $9.23 billion, missing analysts' estimates of $9.33 billion, according to Refinitiv IBES data, as a weak freight market pinches. Trips across Uber's markets during the quarter grew 22% to 2.3 billion, representing an average of 25 million trips per day. Uber reported a profit of 18 cents per share in the second quarter, while analysts were expecting a loss of 1 cent per share. The company's quarterly net profit of $394 million included a $386 million pre-tax benefit due to unrealized gains stemming from the revaluation of Uber's equity investments.

Persons: Uber, Dara Khosrowshahi, Nelson Chai, Lyft, Khosrowshahi, Gross, Akash Sriram, Peter Henderson, Shounak Organizations: Technologies, Reuters Graphics Reuters, Thomson Locations: San Francisco, United States, U.S, Canada, Bengaluru

☆ Big X taken down from Twitter roof after San Francisco squabble
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

A giant, glowing X no longer marks the spot on the San Francisco high-rise that is headquarters to Elon Musk's messaging company X, formerly known as Twitter. "Beautiful San Francisco, though others forsake you, we will always be your friend," Musk wrote. "This morning, building inspectors observed the structure being dismantled," a spokesperson from the city Department of Building Inspection said by email on Monday. X user @itsmefrenchy123 said they would be "LIVID" over the bright logo, imagining it "right across from your bedroom." "I'm just astounded at the flagrant lack of consideration for anyone ever," wrote X user @DollyMarlowe.

Persons: Musk, X, I'm, Nicholas P, Brown, Peter Henderson, Sheila Dang, Lisa Shumaker Organizations: San, Elon, Twitter, Department of, Locals, Thomson Locations: San Francisco, Francisco

☆ 'Barbenheimer' box office sales keep rolling in second weekend
▼ + stars: | 2023-07-30 | by ( Nicholas P. Brown | ) www.reuters.com time to read: +2 min

July 30 (Reuters) - Warner Bros' (WBD.O) "Barbie" showed no signs of slowing down in its second weekend at the box office, and was set to haul in $93 million in ticket sales Friday through Sunday, according to estimates from media analytics firm Comscore. 1 movie, and the highest-grossing opening weekend for a film directed by a woman - has made more than $351 million in the U.S. and Canada since opening on July 21, and nearly $775 million globally, Comscore reported. The two films together have been dubbed "Barbenheimer," a nod to the relative rarity of two blockbusters opening the same weekend. Their combined sales are "absolutely mind blowing," Dergarabedian said, with second-weekend numbers that "would have been hailed as opening weekend wins." Universal's Oppenheimer has made $174 million in the U.S. and Canada so far, and $400 million worldwide.

Persons: Barbie, Greta Gerwig's, Margot Robbie, Ryan Gosling, Ken, Ynon, Oppenheimer, Christopher Nolan's, Robert Oppenheimer, Paul Dergarabedian, Dergarabedian, Universal's Oppenheimer, Robbie, Nicholas P, Brown, Peter Henderson, Aurora Ellis Organizations: Warner Bros, Mattel, Hollywood, Guild of America, SAG, Thomson Locations: U.S, Canada

☆ Musk draws heat from San Francisco over giant X logo
▼ + stars: | 2023-07-30 | by ( Nicholas P. Brown | ) www.reuters.com time to read: +2 min

July 30 (Reuters) - A giant, glowing X marks the San Francisco spot where Elon Musk says he plans to keep his company, the messaging platform X, formerly known as Twitter. Keeping X in San Francisco could be a good sign for a city that has struggled to bounce back from tourism and business losses sustained during the pandemic. "Beautiful San Francisco, though others forsake you, we will always be your friend," Musk wrote. X user @itsmefrenchy123 said they would be "LIVID" over the bright logo, imagining it "right across from your bedroom." "I'm just astounded at the flagrant lack of consideration for anyone ever," wrote X user @DollyMarlowe.

Persons: Elon Musk, Musk, I'm, Nicholas P, Brown, Peter Henderson, Chris Reese Organizations: San Francisco's Department, Franciscans, Francisco's Department, Thomson Locations: Francisco, San Francisco, California, Texas

☆ Tesla’s secret team to suppress thousands of driving range complaints
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +21 min

He expected to get something close to the electric sport sedan’s advertised driving range: 353 miles on a fully charged battery. Driving range is among the most important factors in consumer decisions on which electric car to buy, or whether to buy one at all. Electric cars can lose driving range for a lot of the same reasons as gasoline cars — but to a greater degree. The EPA said all the changes to Tesla’s range estimates were made before the company used the figures on window stickers. Independent automotive testers commonly examine the EPA-approved fuel-efficiency or driving range claims against their own experience in structured tests or real-world driving.

Persons: Alexandre Ponsin, ”, Tesla, Elon Musk, “ Elon, Scott Case, Case, Gregory Pannone, Pannone, “ They've, carmaker, Ford, I’m, ” Pannone, ” Jonathan Elfalan, Edmunds, Elfalan, ” Elfalan, Santa Clara –, Ponsin, ” Ponsin, “, Steve Stecklow, Norihiko, Heekyong Yang, Peter Henderson, Eve Watling, Lucy Ha, Ilan Rubens, Brian Thevenot Organizations: Reuters, Tesla, South, Environmental Protection Agency, EPA, Ford, Chevrolet, Hyundai Kona, National Science Foundation, SAE International, U.S, Porsche, Benz, EV, Independent, General Motors, Hyundai, Korea Fair Trade Commission, Virtual Service, Santa, San Francisco Art Locations: AUSTIN, Texas, Colorado, California, Las Vegas, Austin , Texas, Nevada, U.S, Seattle, Vegas, Henderson, Utah, Santa Clara, London, Austin, Seoul, San Francisco

July 27 (Reuters) - Reels, Meta Platforms' (META.O) answer to viral short-form video app TikTok, elicited eyerolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival. The number of Reels video plays on Facebook and Instagram now top 200 billion per day, up from 140 billion last fall. One reason for Reels' growth is that Meta's ad platform makes it seamless for advertisers to place their promotions on the feature, said Debra Aho Williamson, a principal analyst at Insider Intelligence. More than three-quarters of Meta's advertisers are placing ads on Reels, said Susan Li, Meta's chief financial officer. TikTok and its famous content recommendation algorithm remains the leader when it comes to time spent on social media apps.

Persons: Meta, Justin Osofsky, Instagram, TikTok, Osofsky, Mark Zuckerberg, Debra Aho Williamson, Susan Li, Zuckerberg, Meta's, Li, Sheila Dang, Katie Paul, Peter Henderson, Jamie Freed Organizations: Facebook, Meta, Intelligence, Insider Intelligence, Thomson Locations: Austin, New York

July 24 (Reuters) - Billionaire Elon Musk's decision to rebrand Twitter as X could be complicated legally: companies including Meta (META.O) and Microsoft (MSFT.O) already have intellectual property rights to the same letter. X is so widely used and cited in trademarks that it is a candidate for legal challenges - and the company formerly known as Twitter could face its own issues defending its X brand in the future. Microsoft since 2003 has owned an X trademark related to communications about its Xbox video-game system. Meta and Microsoft likely would not sue unless they feel threatened that Twitter's X encroaches on brand equity they built in the letter, Gerben said. Insider reported earlier that Meta had an X trademark, and lawyer Ed Timberlake tweeted that Microsoft had one as well.

Persons: Elon, Josh Gerben, Gerben, Meta, Douglas Masters, Loeb, Ed Timberlake, Blake Brittain, Sheila Dang, Peter Henderson, Sonali Paul Organizations: Twitter, Meta, Microsoft, Facebook, Thomson Locations: Washington

NEW YORK, July 24 (Reuters) - Electric-vehicle charger operator EVCS is looking to raise $125 million, according to a document seen by Reuters, as it races to expand its network of fast chargers eightfold by 2025 and capitalize on the U.S. government's push to boost EV adoption. EVCS, which operates its own network of fast chargers as well as stations for clients such as Hertz and Hilton, plans to increase its network to 2,100 fast chargers by 2025 from 260 currently and focus on the U.S. states of California, Washington and Oregon, according to the document. A person familiar with the matter said a $125 million investment would represent a large minority stake in the business. Reuters was not immediately able to ascertain what valuation the company or its advisers had arrived at for the entire business. The deals between Tesla and rivals also could make it easier for operators to cater to virtually all EVs.

Persons: Tesla, EVCS, Biden, Isla Binnie, Abhirup Roy, Peter Henderson, Matthew Lewis Organizations: YORK, Reuters, BNP, Hertz, Hilton, Tesla, Volta, stoke, Thomson Locations: California, EVCS, Washington and Oregon, New York, Francisco

July 19 (Reuters) - Tesla (TSLA.O) CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in "turbulent times", even as his all-out price war on automaker rivals squeezes the company's own margins. The large price cuts have pressured Tesla's automotive gross margin, a closely watched indicator in the industry, but Musk has said Tesla would sacrifice margin to drive volume growth. As an example, Tesla this year cut U.S. prices of its Model Y long-range version by a quarter to $50,490. In 2020, Musk unveiled a plan to produce Tesla's own EV batteries called "4680" cells. Tesla said production of the long-delayed electric pickup Cybertruck remained on track for initial deliveries this year.

Persons: Elon Musk, Musk, Tesla, Thomas Martin, Akash Sriram, Hyunjoo Jin, Abhirup Roy, Peter Henderson, Joe White, Sayantani Ghosh, Matthew Lewis, Sam Holmes Organizations: Globalt Investments, EV, Ford, General Motors, Reuters, Thomson Locations: United States, China, Texas, Bengaluru, Hyunjoo, San Francsico

Getting more cars on the road would help Tesla maintain its dominant U.S. market share in "turbulent times" and give it access to precious usage data needed to train the artificial intelligence models behind its self-driving technology. The billionaire believes full self-driving (FSD) could one day account for most of Tesla's value and give it a cushion rivals lack as they try to turn their EV operations profitable. "They're not an AI play the way Microsoft or Nvidia is an AI play," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. "They're more of an AI play the way a regular business is an AI play, except that this race to full self-driving has always been an AI issue, and it's always been based on data. Wells Fargo analysts said FSD's adoption could be impeded by its price, which Musk said was low.

Persons: Elon, Musk, Tesla, Gene Munster, Lucy Nicholson, John Tomlinson, Thomas Martin, it's, Wells, Peter Henderson, Aditya Soni, Akash Sriram, Dhanya Ann Thoppil Organizations: Tesla, Deepwater Asset Management, REUTERS, Global, Research, Beta, Microsoft, Nvidia, Globalt Investments, Dojo, Thomson Locations: Los Angeles , California, U.S

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