Good morning. Meta and Tesla shares gain on solid earnings news. The European Central Bank is widely expected to cut rates again. And increasing thefts in Britain are costing retailers billions of pounds.

Tesla's fourth-quarter and full-year earnings day is here — a highly anticipated report that is expected to be released after market close Wednesday.

The chip maker—which counts Apple, Samsung Electronics and Tesla among its customers—expects lower sales, as demand for legacy semiconductors remains subdued.

Tesla shares opened up 3.6% in Frankfurt trading on Thursday, even as quarterly results at the U.S. electric vehicle maker fell short of Wall Street expectations.

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income. (The company’s net income in Q4 2023 includes a one-time non-cash tax benefit of $5.9 billion.)

Soon you'll be able to go hands off the wheel, eyes off the road while chatting with your Rivian. A look at how the EV maker plans to rival Tesla with AI and autonomy.

Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.

Tesla will launch an “unsupervised, no one in the car” robotaxi service in Austin, Texas, in June, Elon Musk said in an earnings call Wednesday. “We just want to put a toe in the water, make sure everything’s okay, put a few more toes in the water, with safety of the general public and those in the car as a top priority,” Musk said.

Tesla is expected to report earnings after Wednesday's close and here is a closer look at what Wall Street expects.