GM reports US sales dip, that of EVs grew

• The big Detroit automaker reported 659,601 US sales during the period, down 2.2 percent from the year-ago but marking a slightly smaller decline than analysts projected
• GM described its EV portfolio as "growing faster than the market" with sales jumping 46 percent in the third quarter, topping 32,000

Xiaomi posts solid quarterly sales growth

• The brand's presence is strongly felt in China, with its wide range of products spanning mobiles, tablets, smartwatches, headphones, scooters and, recently, electric vehicles
• The world's third-largest smartphone maker, Xiaomi reported revenue of 88.9 billion yuan ($12.5 billion) in the second quarter, an increase of 32 percent year-on-year

Intel to slash workforce

• The plan to cut approximately $20 billion in expenses this year came as Intel reported a loss of $1.6 billion in the recently ended quarter
• Intel reported having 124,800 employees at the end of last year, meaning the layoffs could hit about 18,000 positions

Boeing guilty plea deal filed

• The plea deal must be approved by a federal court judge and it includes an additional $243.6 million to be paid by Boeing on top of a previous fine of the same amount
• Boeing conspired to defraud US air traffic safety regulators about the Max 737 while the aircraft was being certified, according to the filing

Tesla auto deliveries beat expectations

• Tesla said it delivered around 444,000 vehicles worldwide in the April-June period, exceeding consensus estimates compiled by FactSet
• Of the total figure, 422,405 involved Model 3 and Model Y vehicles. Tesla gave no detailed breakdown of the other autos delivered

Apple holds talks with rival Meta

Boeing to check undelivered 787s due to fastener issue

• The aviation giant, which faces intensified scrutiny from regulators following recent incidents said planes already in service can continue to be flown safely
• "Our 787 team is checking fasteners in the side-of-body area of some undelivered 787 Dreamliner airplanes to ensure they meet our engineering specifications," the company said

Microsoft unveils ‘AI-ready’ PCs

• The tech giant estimates that more than 50 million "AI PCs" will be sold over the next 12 months, given the appetite for devices powered by ChatGPT-style technology
• Of all the tech giants, Microsoft has pushed the most aggressively to infuse the powers of generative AI into its products, often leaving rival Google to play catch-up

Amazon triples quarterly profit

• Amazon shares were up about one percent in after-market trades that followed release of the earnings figures
• Sales at Amazon online stores grew by 7% in the quarter despite competitive pressure from rivals such as Shein and Temu

Fujifilm ups biotech plant investment

• The cash injection to ramp up output to meet growing demand for antibody drugs brings "the total investment in the facility to over $3.2 billion", the company said
• The investment is part of its strategy of enabling the firm "to construct identical large-scale production facilities" in the United States and Europe, it said