Elon Musk’s abrupt decision to lay off employees who ran Tesla’s electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday. For now, General Motors, Ford and other automakers which struck deals last year to give customers access to the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk has shut down the division that runs Tesla’s Supercharger business, dismissed two senior executives and fired hundreds more staff as the electric-car maker continues its restructuring amid a sharp downturn in the EV
Kansas Gov. Laura Kelly’s veto of expansive tax cut legislation barely fended off an override, which fell short by one vote in the Senate after easily passing the House. House Bill 2036, which cleared the Republican-controlled legislature in April with hefty majority votes, included changes to income, sales, and property taxes that would result in
A Redfin sign in front of a home for sale in Atlanta, Georgia, on Sunday, Nov. 13, 2022. Elijah Nouvelage | Bloomberg | Getty Images Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. Home prices in February jumped 6.4% year over year, another
Subway shrunk its sandwich chain in the US by 443 stores last year, a surprise downsizing that experts said could continue as the chain’s California shops face an increased minimum wage. The fast-food giant closed a total of 733 US stores in 2023 while adding 396 locations and reacquiring 79 stores among other activity, according
Share Tweet By Tr Goins-Phillips Editor April 26, 2024 “American Idol” is planning to honor the late Mandisa, who was a contestant on the series in the early 2000s, in an episode slated to air Monday. Mandisa whose full name is Mandisa Hundley passed away April 18 at 47. The “Overcomer” singer was found deceased
Elon Musk teased the launch of X TV on Monday as the billionaire looks to further transform what used to be Twitter into “the everything app.” A 12-second clip Musk shared to X showcased the forthcoming network’s logo for the first time as it flashed across a stack of old televisions. No other details were
Share Tweet By Tr Goins-Phillips Editor April 26, 2024 In what has been nothing short of a dramatic fall from faith, rapper and entrepreneur Kanye West who once touted an epic salvation story has announced plans to launch a pornography studio. “No, don’t do it,” Brittni De La Mora, a former porn star who has
Paramount Global pushed out CEO Bob Bakish on Monday — removing a major opponent to the media giant’s possible merger with Skydance Media. Bakish, who had run Paramount since 2019, will be replaced by a three-headed “Office of the CEO” –consisting of George Cheeks, President and CEO of CBS; Chris McCarthy, President and CEO, Showtime/MTV Entertainment Studios and Paramount
In the not-too-distant future, automatic emergency braking will have to come standard on all new passenger vehicles in the US, a requirement that the government says will save hundreds of lives and prevent thousands of injuries every year. The National Highway Traffic Safety Administration unveiled the final version of the new regulation on Monday and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK mortgage approvals hit their highest for 18 months in March, according to official figures that suggest the property market is continuing to recover despite recent rises in quoted rates. Net mortgage approvals rose to
Ahead of an expected push to broaden tax-exempt financing authority for tribal governments next year, a pair of Federal Reserve Bank of Minneapolis economists are recommending the tax code be reformed to allow tribes greater access to the financing tool. An April 25 paper titled “Tax code constraints limit tribal tax-exempt bonding” notes the relatively
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Vitapix | E+ | Getty Images People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal
US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp. said Friday, underscoring the challenges facing regional banks a year after the collapse of three peers. The Philadelphia-based bank, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department
Open your virtual A-eyes. A new study testing ChatGPT’s artificially intelligent image creator showed an aggressive tilt toward men over women when asked to depict business people and chief executive officers, according to finance company Finder. Using DALL-E the generative AI, prompt-based photo creator integrated into ChatGPT from parent company OpenAI 99 out of 100
Trump’s criminal hush money trial continues in New York. On Thursday, former National Enquirer publisher David Pecker told the court he made deals with Michael Cohen and Trump to “kill” embarrassing stories that would damage his presidential campaign, including Trump’s alleged affair with Playboy model Karen McDougal.
Tesla founder and CEO Elon Musk met with a top government leader in the Chinese capital Sunday, just as the nation’s carmakers are showing off their latest electric vehicle models at the Beijing auto show. Chinese Premier Li Qiang told Musk that he hopes the U.S. will work more with China on win-win cooperation, citing
The New York Court of Appeals overturned the 2020 rape conviction of Harvey Weinstein Thursday and called for a new trial, in a stunning development to the historic case. The disgraced Hollywood mogul was sentenced to 23 years in prison after his 2020 conviction. But the appeals court cited the improper use of what’s known
An American venture capitalist says now is the time to bet big on Israel despite the country facing a multi-front war against Iran-backed terrorists in Gaza and Lebanon. Aaron Kaplowitz, who founded 1948 Ventures only days after the deadly Oct. 7 Hamas terror attacks, invests in Israeli early-stage dual-use companies, firms that create technologies with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tesla is partnering with Chinese search giant Baidu to deploy mapping and navigation technology in China, as Elon Musk moves closer to rolling out more advanced driver assistance features in the world’s biggest auto market.
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