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Teslas now over 40% cheaper in China as prices cut again amid competition

Tesla already cut prices in China last year to boost sales as competition heats up in both the mass and premium segments

Rupee, worst emerging Asia currency of 2022, likely to fall further

RBI may mop up any inflows to boost its foreign-exchange reserves, a move that may also work against the rupee

Twitter security headaches mount with data leak of over 230 mn users

The database, which was posted on Wednesday, contains the names and email addresses of politicians, journalists and bankers, among others

Laid-off Twitter workers await severance pay, Musk in for legal trouble

Twitter faces multiple suits over unpaid bills, including for private chartered plane flights, software services and rent at one of its San Francisco offices

Samsung profit tumbles by 69% in historic drop on chip price falls

The crisis in the memory chip market has been further exacerbated by US sanctions on some chip-related exports to China, hurting demand from some of Samsung's key clients

First Abu Dhabi Bank PJSC explored offer for Standard Chartered

A deal would create a bank with over $1 trn of assets; FAB has been assessing a deal for over 6 months

Mukesh Ambani to focus on green energy as scions helm other Reliance units

Reliance is seeking billions of dollars of investments in India's energy sector and has approached potential investors including Middle Eastern funds, two of the people said

Tech companies continue slashing jobs amid uncertain 2023 economy

Layoffs that began in 2022 are accelerating across some technology companies

China pauses massive chip investment to compete with United States

Top officials are discussing ways to move away from costly subsidies that have so far borne little fruit

EU's privacy watchdog fines Meta $414 mn for ads based on online activity

EU's privacy watchdog tells firm it can't use its contracts with users to justify sending them such ads

Retail giant Walmart gets $1-billion tax bill for PhonePe shift to India

The bill stems from the relocation and rise in value of PhonePe Pvt, which Walmart took majority ownership of after acquiring parent outfit Flipkart Online Services Pvt

Byju's founder raising funds to buy back as much as 15% of firm: Report

Raveendran is in the midst of overhauling the company's strategy and cutting marketing spend with a goal to be profitable by March

China markets start 2023 with a bang as Covid policy shift hastens

Beijing has pledged to expand fiscal spending as part of efforts to boost economic growth

No reason China should retaliate over Covid travel restrictions: US

China has said it would hit back at nations that impose new rules on its travelers, dismissing the measures as "political goals

Slide in Apple's shares pushes iPhone maker's market value below $2 trn

Apple fell 3.7% on Tuesday, closing at its lowest since June 2021 as concerns about iPhone supply in the important holiday quarter mount

Fear of global natural gas crisis eased by warm start to winter

Gas futures are plummeting on reduced fuel consumption and the weaker outlook. European gas fell Tuesday, a day after briefly touching the lowest level since the war in Ukraine started

Samsung veteran sounds alarm on S Korea losing a global chip war

"We're in a chip war," said Yang Hyang-ja, who helped shape the 84-year-old conglomerate's present dominance in global memory chipmaking

Tesla fined $2.2 mn in S Korea for alleged violations of advertising law

Tesla falsely promoted and exaggerated the driving range and charging speed of its electric cars as well as the estimated savings on fuel costs by using its vehicles

SpaceX valued at $137 billion in latest funding round, says TV report

Space Exploration Technologies Corp. is raising $750 million in new fundraising, which values the company at $137 billion, CNBC reported

China's economy ends year in major slump as Covid infections surge

Official data over the weekend showed the decline in manufacturing worsened last month, while activity in the services sector plunged the most since February 2020