Business

Ford posts profit, says chip shortage may cut production 50%

Ford Motor Co. posted a surprising $3.26 billion first-quarter net profit on Wednesday, but the company said a worsening global computer chip shortage could cut its production in half during the current quarter.

Business

Spotify posts rare profit, shares tumble on timid user growth

Spotify posted on Wednesdaya rare net profit in the first quarter and a sharp increase in paid subscribers as the music streaming giant launched in dozens of new markets, but disappointing total users sent shares tumbling.