Musk's Neuralink to launch a clinical study in Great Britain
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CNA
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Digital health company eMed taps former X CEO Linda Yaccarino
Digital health platform eMed Population Health said on Tuesday it has appointed Linda Yaccarino, the former CEO of social media site X, as its chief executive officer. The online weight management company's digital platform provides at-home diagnostics, proctor-led screenings, physician-guided prescribing for patients with obesity and type 2 diabetes. Yaccarino, one of Elon Musk's top deputies, stepped down from her role at the social media site in July, in a surprise move just months after the platform was acquired by the billionaire's AI startup, xAI.
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Elon Musk's politics hit Tesla sales in Europe's biggest car markets
[LONDON] Tesla's new car registrations in Britain and Germany, Europe's biggest auto markets, more than halved in July from a year earlier, as CEO Elon Musk's political views deter buyers and the company grapples with regulatory challenges. Competition has also increased and sales of EVs made by China's BYD rose nearly five-fold in Germany and over four-fold in Britain in July, official industry data showed on Tuesday (Aug 5). Data last week showed a revamp of Tesla's signature Model Y had failed to reverse a fall in sales in major European markets. A Reuters report on Monday found enthusiasm for the brand has plunged since Musk endorsed Donald Trump in the run-up to his re-election last year. Tesla's July registrations – a proxy for sales – dropped by nearly 60 per cent to 987 units in Britain and by over 55 per cent to 1,110 in Germany, official industry data showed on Tuesday, taking the brand's decline in the month to 45 per cent in 10 European markets that together accounted for over 80 per cent of Tesla's first-half sales in the European Union, the UK and the European Free Trade Association. 'That markets shrug at poor sales numbers suggests the company's fortunes rest on their ability to bring forward workable self-driving vehicles', said Ben Nelmes, founder of EV data analysis firm New AutoMotive. Since last year, Musk has shifted Tesla's focus to developing self-driving technology from new, affordable models for human drivers. Overall, the total number of newly registered cars in Germany rose by 11.1 per cent to 264,802 vehicles, with sales of electric vehicles up 58 per cent in July to 48,614 units, the German road traffic agency KBA said. The agency also said the sales volumes of Chinese electric vehicle manufacturer BYD jumped almost fivefold in July to 1,126 units and more than fivefold to 7,449 units since the beginning of the year. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up New car registrations in Britain fell about 5 per cent year on year in July to 140,154 units, with growth in battery electric vehicle sales moderating to 9.1 per cent in the month, figures from industry body Society of Motor Manufacturers and Traders showed. BYD sales in the country were up over 300 per cent to 3,184 cars sold in the month. Battery electric vehicles are now projected to account for 23.8 per cent of new registrations in 2025, slightly up from the society's previous forecast of 23.5 per cent. 'July's dip shows yet again the new car market's sensitivity to external factors, and the pressing need for consumer certainty,' SMMT chief executive Mike Hawes said in a statement. The new electric car grant offers financial help to encourage people to buy BEVs. However, it's still unclear which models will be eligible, so some buyers are waiting, the SMMT said. REUTERS
CNA
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Infineon lifts profit outlook as semiconductor market revives
BERLIN :German chipmaker Infineon slightly raised its full-year profit guidance on Tuesday after reporting stronger-than-expected quarterly earnings, and said global semiconductor markets had begun to recover despite lingering tariff concerns. It said it was well-placed to take advantage of the increase in semiconductor demand, including from the car sector and AI data centres. Shares fluctuated after the results, rising by 4.2 per cent at 1049 GMT after an early fall of 1.9 per cent. Infineon's segment result margin - its preferred measure of operating profitability - climbed to 18 per cent for the fiscal third quarter ending in June, beating analysts' expectations of 15.8 per cent. The company credited the performance to a faster-than-anticipated rebound in its Green Industrial Power and Power & Sensor Systems divisions, driven by rising demand for energy-efficient technologies and power semiconductors used in data centres. "The semiconductor markets are slowly recovering from the prolonged downturn," said Infineon CEO Jochen Hanebeck in a conference call. Hanebeck reaffirmed expectations that sales from Infineon's chip business for AI centres would double to around 600 million euros ($692 million) for the fiscal year. In response, Infineon raised its full-year segment result margin guidance to a high-teens percentage, up from the mid-teens range projected earlier, partly due to lower investments. The company revised its capital expenditure forecast for the fiscal year to 2.2 billion euros, down slightly from the previous estimate of 2.3 billion euros. Fourth-quarter revenue, adjusted for currency effects, is expected to rise to 3.9 billion euros, up from 3.7 billion euros in the third quarter. Infineon clarified its previous full-year sales forecast from May of a slight decline from the previous year's 14.96 billion euros and now predicts around 14.6 billion euros. Although the overall revenue trajectory fell short of some expectations, analysts were upbeat. "With tariff uncertainty subsiding, we remain positive on the cyclical and structural growth outlook, and further margin recovery," Janardan Menon of Jefferies said.
