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Funds investing in the metaverse are now managing more than $2bn globally, as a flurry of launches from some of Europe’s biggest asset managers look to take advantage of a hot investment trend. Data from Morningstar, provided to Financial News, shows a sharp increase in assets managed by funds focused on immersive virtual worlds, as well as in the … Read more
Nvidia Corp. Chief Executive Jensen Huang on Wednesday said he thinks it’s going to be “a pretty terrific Q4 for Ada,” the company’s next-generation chip architecture unveiled this week, even as critics balk of a price hike during a softening in consumer demand. Nvidia NVDA, +0.65% expects high demand for gaming chips using its next-generation … Read more
Ford Motor Co. shares dropped more than 4% in the extended session Monday after the company said inflation and parts shortages will leave it with more unfinished vehicles than it had expected, reminding Wall Street supply-chain snags are far from over for auto makers. Ford F, +1.43% said it expects to have between 40,000 and … Read more
Ford Motor Co. said Monday that shortages of certain parts will result in a higher-than-planned number of unfinished vehicles in its inventory. “Vehicles on wheels” have been built but are still in need of some parts, the company said. Ford said it expected to have about 40,000 to 45,000 such vehicles in inventory at end … Read more
BERLIN—Volkswagen AG largest shareholder, Porsche Automobil Holding SE said it would acquire 25% plus one additional share of the voting stock in Porsche AG when VW lists the sports-car brand, which could happen by the end of the month, the companies said on Saturday. VW, Europe’s biggest auto maker by sales, said the companies’ boards … Read more
Ford Motor is facing a potential $1.7 billion in punitive damages after a Georgia jury reached a verdict Friday in a case involving a 2014 rollover of a Ford F-250 pickup truck that left two people dead. The Gwinnett County jury determined that damages should be imposed on Ford for selling 5.2 million Super Duty … Read more
Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further pressuring the electric-vehicle startup to conserve cash and move quickly to fill customer orders. The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first … Read more
Text size Courtesy Virgin Galactic Shares of Virgin Galactic were tumbling Friday after the space tourism company pushed back the launch of commercial service to the second quarter of 2023. Virgin Galactic (ticker: SPCE) last said it expected to start commercial space-tourism service in the first quarter of next year. That was after pushing back … Read more
Text size The Federal Aviation Administration gave clearance to Boeing to begin deliveries of the 787 Dreamliner after approving the company’s plan to correct production problems with the aircraft. Dreamstime Boeing investors got two bits of good news Monday that was sending the higher. One item was a far bigger deal than the other. The … Read more
U.S. air-safety regulators signed off on a Boeing plan aimed at addressing problems with the 787 Dreamliner, a major step before the company restarts deliveries of the aircraft, according to people familiar with the matter. The first 787 delivery is expected to occur within days, one of the people familiar with the matter said. Resuming deliveries … Read more