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By Trixie Yap SINGAPORE (Reuters) -Exxon Mobil Corp expects to cut staff numbers in Singapore by 10% to 15% and move its office to its Jurong plant on the island by the end of 2027, the company said on Wednesday, in a global restructuring effort. The steps come after the U.S. major unveiled plans on Tuesday to lay off 2,000 workers globally, particularly in Canada and across the European Union, as part of long-term restructuring that will affect about 3% to 4% of its workforce. "We are making changes to how we work, so we can improve our competitiveness in an ever-evolving landscape and position the business for future success," Exxon Singapore said in an email. The changes will reshape and restructure the primarily office-based organization, it added in the statement. "While detailed planning is still underway and organisational design is not yet complete, we anticipate this will result in estimated employee redundancies of 10% to 15% by year-end 2027." The cuts could hit about 500 workers among roughly 3,500 Exxon employees in Singapore, but the company declined to cite a a specific figure. Affected employees will be told by December, said two sources with direct knowledge of the matter, but the company declined to comment. Singapore's Economic Development Board said it would work closely with Exxon to support those affected. In an email, the agency said the company would retain a significant business footprint in the city state, in areas such as manufacturing and trading. The company, which began production this month at new facilities at its Singapore refinery complex to turn out base stocks from residue fuel, said it would keep its manufacturing presence in Singapore. Exxon operates two refining sites, one at Pioneer Road on the mainland and the other on Jurong Island, with a combined crude processing capacity of 592,000 barrels per day. It plans to move employees from its existing Harbour Front offices to the Jurong Refinery at Pioneer Road in new expanded facilities by the end of 2027, it said. (Reporting by Trixie Yap; additional reporting by Emily Chow; Writing by Florence Tan; Editing by Tom Hogue and Clarence Fernandez)

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(Reuters) -Apple and ChatGPT owner OpenAI on Tuesday asked a U.S. federal judge to dismiss a case filed by billionaire Elon Musk's xAI, which had accused them of illegally conspiring to thwart competition in the field of artificial intelligence. In a lawsuit filed in August, xAI had said that Apple would have no reason to refrain from more prominently featuring the X app and the Grok app in its App Store if not for its "exclusive" deal with OpenAI. Musk's company sought billions of dollars in alleged damages. "Apple and OpenAI's agreement is expressly not exclusive, and it is public and widely known that Apple intends to partner with other generative AI chatbots," lawyers for Apple said in a court filing on Tuesday, while asking the judge to dismiss the case. Musk's AI startup xAI and social media X do not "plausibly allege" that the integration of ChatGPT into Apple devices harms competition, they added. Apple in partnership with OpenAI has integrated ChatGPT into its operating system for iPhones, iPads and Macs. xAI did not immediately respond to a request for comment outside regular business hours on Apple and OpenAI seeking dismissal of the suit. (Reporting by Shubham Kalia in BengaluruEditing by Tomasz Janowski)

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(Reuters) -U.S. stock index futures fell on Wednesday as investors assessed the implications of the federal government shutdown, which threatens to disrupt the release of key economic data and complicate the Federal Reserve's policy path. The shutdown, which independent analysts warn could last longer than the budget-related closures of the past, comes at a time when markets are leaning heavily on hopes of a dovish Fed policy, and after equities posted the second straight quarter of gains. While shutdowns have not derailed markets historically, the current episode coincides with a critical period when stock valuations are elevated and sentiment fragile. The S&P 500 rose during each of the last six government shutdowns, according to a note from Deutsche Bank. However, a longer shutdown could be a cause for concern. In the seven instances where they lasted 10 days or more, the index fell four times and rose three times, according to data from Vanguard. "While a government shutdown is disruptive in its own ways, now isn't exactly the time that investors, or the Fed, want to lose access to key economic data points," said Bret Kenwell, U.S. investment analyst at eToro. At 04:21 a.m. ET, Dow e-minis were down 310 points, or 0.66%, U.S. S&P 500 E-minis were down 52.5 points, or 0.78%, and Nasdaq 100 E-minis were down 234.5 points, or 0.94%. With uncertainty around when the next nonfarm payrolls report will be released, upcoming data like the ADP National Employment Report and the Institute for Supply Management's manufacturing PMI for September, due on Wednesday, will likely be scrutinized more closely for clues on the labor market and inflation. Investors will also parse commentary from Federal Reserve Bank of Richmond President Thomas Barkin for any shift in tone as policymakers navigate a murkier data landscape. Among the early movers was Nike, which rose 3% in premarket trading a day after reporting surprise revenue growth in the first quarter. NYSE-listed shares of Lithium Americas surged 39% after it said the U.S. Department of Energy had taken a 5% stake in the company. (Reporting by Niket Nishant in Bengaluru; Editing by Mrigank Dhaniwala)

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(Reuters) -Tesla has raised lease prices for all its vehicles in the U.S. after a $7,500 federal tax credit that helped boost electric vehicle sales expired, according to the company's website on Wednesday. The change follows the end of tax incentives under sweeping legislation passed by Congress, which eliminated the $7,500 credit for new EV leases and purchases, as well as a $4,000 credit for used EVs, effective September 30. Tesla and its rivals had been passing these credits on to customers through competitive lease offers. The monthly lease of the electric vehicle manufacturer's best-selling Model Y increased to a range between $529 and $599, from a range of $479 to $529. Prices of all vehicles, however, remain unchanged. Model 3 lease prices touched a range of $429 to $759 per month, from a range of $349 to $699. Demand for battery-powered models is already showing signs of a slowdown after rapid growth earlier in the decade. Sales could drop after the credits dry up, auto executives and analysts have warned. Reuters reported last month that Tesla's U.S. market share dropped to a near eight-year low in August, as buyers chose electric vehicles from a growing stable of rivals, according to data from research firm Cox Automotive. Tesla, which once held more than 80% of the EV market in the United States, accounted for only 38% of the country's total EV sales in August, according to early data from Cox. (Reporting by Nilutpal Timsina in Bengaluru and Kanjyik Ghosh in Barcelona; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)

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(Reuters) -Apple and ChatGPT owner OpenAI on Tuesday asked a U.S. federal judge to dismiss a case filed by billionaire Elon Musk's xAI, which had accused them of illegally conspiring to thwart competition in the field of artificial intelligence. (Reporting by Shubham Kalia in BengaluruEditing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Apple and ChatGPT owner OpenAI on Tuesday asked a U.S. federal judge to dismiss a case filed by billionaire Elon Musk's xAI, which had accused them of illegally conspiring to thwart competition in the field of artificial intelligence. (Reporting by Shubham Kalia in BengaluruEditing by Tomasz Janowski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Tesla has raised lease prices for all its vehicles in the U.S. after a $7,500 federal tax credit that helped boost electric vehicle sales expired, according to the company's website on Wednesday. The change follows the end of tax incentives under sweeping legislation passed by Congress, which eliminated the $7,500 credit for new EV leases and purchases, as well as a $4,000 credit for used EVs, effective September 30. Tesla, along with its rivals, was receiving the tax credit from the U.S. government and including them in offering attractive lease prices for customers. The monthly lease of the firm's best-selling Model Y increased to about $599 at the top range from $529. Prices of all vehicles, however, remain unchanged. Demand for battery-powered models is already showing signs of a slowdown after rapid growth earlier in the decade. Sales could drop after the credits dry up, auto executives and analysts have warned. (Reporting by Nilutpal Timsina in Bengaluru and Kanjyik Ghosh in Barcelona; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)

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(Reuters) -BMW is recalling over 145,000 vehicles in the U.S. as an overheated starter could increase the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Wednesday. The issue affects vehicles across 2020 340I, X7, and X5 models, the auto safety regulator said. BMW dealers will replace the engine starter, free of charge, NHTSA said in the notice. Earlier this week, NHTSA said that BMW would recall over 196,000 vehicles in the U.S. over an engine starter issue that could lead to overheating and short circuit. (Reporting by Ruchika Khanna in Bengaluru; Editing by Mrigank Dhaniwala)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Tesla has raised lease prices for all its vehicles in the U.S. after a $7,500 tax credit that boosted EV sales expired, according to its website on Wednesday. The EV maker, along with its rivals, was receiving the tax credit from the government and including them in offering attractive lease prices for customers. (Reporting by Nilutpal Timsina in Bengaluru; Editing by Mrigank Dhaniwala)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -Tesla has raised lease prices for all its vehicles in the U.S. after a $7,500 tax credit that boosted EV sales expired, according to its website on Wednesday. The EV maker, along with its rivals, was receiving the tax credit from the government and including them in offering attractive lease prices for customers. (Reporting by Nilutpal Timsina in Bengaluru; Editing by Mrigank Dhaniwala)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)