Exclusive: Electric vehicle maker Rivian to cut 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in a bid to cut costs as the electric vehicle maker, already struggling with dwindling cash reserves and an economy weak, is preparing for a full-scale industry-price war. The company is focusing its resources on ramping up vehicle production … Read more

Gautam Adani loses Asia’s richest crown as stock rout worsens to $84bn

BENGALURU, Feb 1 (Reuters) – Indian tycoon Gautam Adani lost his title as Asia’s richest person on Wednesday as the rout of his conglomerate’s biggest companies worsened to $84 billion following a a report on short sellers. A Hindenburg Research report last week alleged the group’s misuse of offshore tax havens and stock manipulation, as … Read more