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25 October 21

The Market data was collected on 25 October 2021 at 09:55, and might have changed since then. Kindly refer to the listed sources for the most recent and updated information.


Tesla pulls its new Full Self-Driving beta due to software ‘issues’

U.S. electric car maker Tesla (NASDAQ:TSLA) Inc on Sunday rolled back the latest version of its Full Self-Driving (FSD) beta software, less than a day after its release, after users complained of false collision warnings and other issues.

The setback comes as Tesla is under regulatory scrutiny over the safety of its semi-autonomous driving technology, which it calls “FSD.”

“Seeing some issues with 10.3, so rolling back to 10.2 temporarily,” Chief Executive Elon Musk said in a Twitter (NYSE:TWTR) post on Sunday.

“Please note, this is to be expected with beta software. It is impossible to test all hardware configs in all conditions with internal QA (quality assurance), hence public beta,” he said.

Tesla did not immediately respond to requests for comment outside regular U.S. business hours.
The release of the new driving assist system to some owners of Tesla models, which the company said featured several improvements, had been announced for Friday, Oct 22.

Dollar at one-month trough as traders see global rates rising

The dollar slipped on Monday, as traders weighed the prospect of inflation hastening the pace of rate hikes outside the United States, with a wary eye on commodity prices, U.S. growth data and central bank meetings ahead in Europe, Japan and Canada.

The dip pulled the dollar index to a one-month low and extends softness after Federal Reserve Chair Jerome Powell said on Friday it not yet time to begin raising interest rates.

The greenback fell about 0.2% against the Australian and New Zealand dollars and about 0.1% to $1.1659 per euro. The dollar index edged down as far as 0.2% to 93.483. The yen, which leapt on Friday, eased slightly to 113.63 per dollar.

Powell’s remarks came as investors have priced in Fed rate hikes starting in the second half of next year and yet have begun to trim long dollar positions in anticipation that other central banks could get moving even sooner.

The Antipodeans, along with sterling, have bounded ahead this month as traders scrambled to price in higher rates while inflation runs hot, with markets now eyeing a near 60% chance of a Bank of England hike next week.

HSBC surprises with 74% rise in Q3 profit and $2 billion buyback

HSBC Holdings (NYSE:HSBC) reported a surprise 74% rise in third quarter profit as concerns about pandemic-related bad loan receded, allowing it to announce a share buyback of $2 billion.

HSBC however said its cost projections for 2022 had increased to $32 billion from $31 billion, due to the pressures of inflation.

“While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us,” Chief Executive Neil Quinn said in the results statement on Monday.

Quinn, who was confirmed in the role in 2020 just as the pandemic-induced economic crisis began, is betting on Asia to drive growth, by moving global executives there and ploughing billions into the lucrative wealth business.

The bank posted pretax profit of $5.4 billion for the quarter to September, versus $3.1 billion a year earlier and the $3.78 billion average estimate of 14 analysts compiled by HSBC.

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