Tesla’s pole position is a blessing, then a curse
Synopsis by Daily Maverick Jun 04 22
Tesla Inc. Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff by around 10%, noting he had a “super bad feeling” about the economy ...Read full articleReuters: Tesla’s pole position is a blessing, then a curse
Story Details
| Last Updated | Jun 05 22 |
| Total Articles | 6 |
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automobile propelled by an electric motor using energy stored in rechargeable batteries
News on this topic
An EV Price War Could Bring Major Trouble For Tesla And The Electric Car Market @ Top Speed
topspeed.com/cars/car-news/an-ev-price-war-could-bring-major-trouble-for-tesla-and-the-electric-car-market-ar196278.html
Business Maverick: Tesla Pauses Hiring as Musk Aims for 10% Staff Cut: Tesla Inc. Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff ...
dailymaverick.co.za/article/2022-06-03-tesla-pauses-hiring-as-musk-aims-for-10-staff-cut/
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An EV Price War Could Bring Major Trouble For Tesla And The Electric Car Market @ Top Speed
topspeed.com/cars/car-news/an-ev-price-war-could-bring-major-trouble-for-tesla-and-the-electric-car-market-ar196278.html
Business Maverick: Tesla Pauses Hiring as Musk Aims for 10% Staff Cut: Tesla Inc. Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff ...
dailymaverick.co.za/article/2022-06-03-tesla-pauses-hiring-as-musk-aims-for-10-staff-cut/
Elon Musk is feuding with Brazil’s powerful Supreme Court: The court has become the de facto regulator of social media in the country
economist.com/the-americas/2024/04/14/elon-musk-is-feuding-with-brazils-powerful-supreme-court
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Quick Glance: Elon Musk's Clash with Brazil's Supreme Court
- Serial entrepreneur Elon Musk has been publicly criticizing Alexandre de Moraes, one of Brazil's Supreme Court judges, for the past week.
- The dispute revolves around X, a social media company owned by Mr. Musk, which announced on April 6th that a Brazilian court had ordered it to block a set of 'popular' accounts or face hefty fines.
- Mr. Moraes then initiated an inquiry against Mr. Musk for obstruction of justice, leading Mr. Musk to claim that censorship in Brazil is worse than in any other country where the platform operates.
- The row highlights the power of Brazil's Supreme Court and the debate on regulating social media without harming freedom of speech, which is a crucial battleground in Brazil.
Tesla to cut 14,000 jobs as Elon Musk aims to make carmaker ‘lean and hungry’: Billionaire says ‘there is nothing I hate more’ than cutting staff as more than ...
theguardian.com/technology/2024/apr/15/tesla-cut-jobs-elon-musk-staff
Quick Glance: Tesla to Cut 14,000 Jobs, Elon Musk Aims for Lean Brand
- Tesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, in response to slowing demand and price pressure.
- Elon Musk announced the 'difficult decision' in a memo, mentioning that Tesla had experienced role and function duplications in certain areas due to rapid growth in recent years.
- The job cuts follow a difficult start to the year for the electric carmaker, citing production problems caused by unforeseen factors and a decline in global demand.
- Tesla recorded a gross profit margin of 17.6% in the fourth quarter, the lowest in over four years, attributed to repeated price cuts and increased competition in China.
Elon Musk and Javier Milei share their love of free markets in first meeting: Tesla boss shows Argentine president Texas factory where they talked about lithium ...
ft.com/content/604e66e3-597c-49e8-bac5-5d51a7a35abd
Quick Glance: Elon Musk and Javier Milei Discuss Free Markets and Investment Opportunities
- Elon Musk and Argentine president Javier Milei met for the first time at Tesla's Texas factory.
- They discussed market liberation, eliminating bureaucratic obstacles, and investment opportunities.
- Milei unexpectedly won an election focused on spending cuts and inflation reduction.
- Both shared similar views on free markets and expressed support for Israel in conflicts.
Elon Musk threatens to disobey court order over banned profiles: Brazil threatens to regulate social media owned by "billionaires domiciled abroad."
ft.com/content/26e54895-a37d-4ab1-baad-701d5ddcf150
Quick Glance: Elon Musk and the Support of Far-Right in Brazil
- A court in Brazil is planning an investigation against X owner Elon Musk for alleged obstruction of justice, following Musk's reactivation of accounts belonging to far-right individuals that were flagged by the Brazilian government for removal.
- Under Musk's leadership, X has transformed into a sanctuary for the far right and dissemination of misinformation, resulting in an escalation of hate speech on the platform.
- Experts caution that Musk is establishing a dangerous precedent by protecting and promoting the far right on his platform, regardless of local regulations or public opinion.
- Despite Musk's claims of advocating for free speech, the implementation of these principles on the platform has been inconsistent under his direction, especially concerning government requests to deactivate accounts.
Israel Credit Rating Downgraded by S&P on Heightened Geopolitical Risk: Israel was downgraded by S&P Global Ratings, which joined Moody’s Ratings in lowering ...
bloomberg.com/news/articles/2024-04-18/s-p-downgrades-israel-rating-on-heightened-geopolitical-risk
Tesla: job cuts at e-car company - Welcome to reality, Elon Musk!: Tesla is facing a huge wave of redundancies. This is bad news for the employees ...
wiwo.de/unternehmen/auto/stellenabbau-bei-tesla-musks-abschied-von-wolkenkuckucksheim/29757498.html
Quick Glance: Tesla: Layoffs and Elon Musk's Reality Check
- Tesla is planning a major layoff to prepare for the future.
- Elon Musk's grasp on reality is questioned as Tesla performs mediocre in the automotive industry.
- Tesla experiences a decline in revenue margin compared to other automakers.
- The success of Tesla's future depends on the implementation of autonomous driving technology.
So much for free speech on X; Musk confirms new users must soon pay to post: The fee, likely $1, is aimed at stopping “relentless” bots, Musk said.
arstechnica.com/tech-policy/2024/04/so-much-for-free-speech-on-x-musk-confirms-new-users-must-soon-pay-to-post/
Quick Glance: Musk Plans Fee for New X Users
- Elon Musk intends to charge new users of X in the initial months to curb the activity of automated bot accounts.
- The fee is set to be waived after three months to allow free posting.
- Tests in New Zealand and the Philippines raised skepticism about the effectiveness of the fee as a countermeasure against bots.
- Declining revenues at X post-rebranding and Twitter acquisition, along with a negative brand perception by companies, are impacting the service's business.
TSMC Outlook Beats Estimates as AI Demand Helps Propel Business: Taiwan Semiconductor Manufacturing Co. expects revenue to rise as much as about 30% this quarter ...
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Why Tesla wants to give Elon Musk $55 billion pay package: Tesla says Elon Musk's pay package is a "matter of fundamental fairness and respect to our CEO."
businessinsider.com/why-tesla-wants-give-elon-musk-billion-pay-package-2024-4
Quick Glance: Why Tesla Wants Approval for Elon Musk's $55 Billion Compensation Package
- Tesla is seeking shareholder approval for Elon Musk's compensation package, which was previously rejected by a judge.
- The company asserts that implementing the plan is crucial for Tesla's future growth.
- Elon Musk will be rewarded with stock options that become available when Tesla achieves specific financial objectives.
Tesla just asked shareholders to approve Elon Musk's nixed $56 billion pay plan again
qz.com/tesla-elon-musk-investors-approve-compensation-pay-plan-1851415316
Quick Glance: Tesla Cybertruck: Pedal Safety Issues
- The Tesla Cybertruck has faced criticism for various issues, but now a serious safety concern with the accelerator pedal has led to the temporary halt of deliveries.
- A video and reports show that the pedal cover can come loose and jam, causing unintended acceleration even when the foot is not on the pedal.
- Deliveries have been halted, appointments rescheduled and canceled as Tesla investigates acceleration issues. A regulatory investigation looms over the company, potentially requiring a recall of all trucks.
- Some drivers have attempted to manually remove the pedal cover, indicating a potentially serious safety issue that cannot be resolved through software.
It's a Wilder Stock Market Now. Don't Panic.: Investors should prepare for more stock market choppiness ahead amid the Iran-Israel conflict ...
on.barrons.com/3JomNl6
Quick Glance: S&P 500: Potential Downside Risk with Nasdaq 100 in Peril (Technical Analysis)
- The S&P 500 may be facing potential downside risk, with a deep decline possibly unfolding in stages, with the Nasdaq 100 potentially being the last to be affected.
- In the era of 'buying the dip,' there is a chance that a decline could occur gradually or swiftly, or it could even be a false alarm.
- As a risk manager, it is more important to assess the risks of different market segments and position accordingly, rather than speculate on market movements.
- The primary goal is to avoid being affected by market-changing sell-offs, and adjusting the portfolio to address the current market risks is crucial.
BOE Governor Expects Sharp Drop in UK Inflation Next Month: Bank of England Governor Andrew Bailey expects a sharp drop in Britain’s inflation rate next month ...
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Paid articlePaidQuick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Fed Interest-Rate Cut Is Not Likely Until End of Year, Raphael Bostic Reiterates: Federal Reserve Bank of Atlanta President Raphael Bostic said he’s comfortable ...
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Tesla shares tumble below $150 per share, giving up all gains made over the past year
apnews.com/article/tesla-stock-elon-musk-electric-vehicles-a58609b126ba5f5b7655f6049ecb27f1
Quick Glance: Tesla Shares Plummet Below $150, Erasing Year's Gains
- Tesla's stock tumbled below $150 per share, erasing all gains made in the past year, reflecting falling sales and deep discounts to attract buyers.
- Shares of Tesla have fallen by 12.4% this week and over 39% this year, accompanied by a global staff reduction of 10% amounting to around 14,000 jobs.
- Tesla's stock hit an all-time high in November 2021 but sales plummeted last quarter due to increased competition and failed price cuts to bolster demand.
- Anticipated lower first-quarter earnings for Tesla raise concerns about potential catalysts to reverse the stock decline amidst uncertainties surrounding the release of a new affordable electric vehicle and strategic shifts within the company.
Gold (XAUUSD) Jumps After Iran Strike Against Israel Stokes Haven Demand: Gold rose as much as 1.2% shortly after the open as Iran’s attack on Israel over the ...
bloomberg.com/news/articles/2024-04-14/gold-xauusd-jumps-after-iran-strike-against-israel-stokes-haven-demand
Paid articlePaidQuick Glance: New Measures Against Iran and Escalation in West Bank
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- To combat the escalation in the Israeli-occupied West Bank, Israeli and Palestinian officials reported the deaths of two Palestinians shot by Israeli settlers on Monday.
Tesla seeks to award Elon Musk $56bn pay package: The deal, if approved by shareholders and judges, would be the largest in corporate America.
bbc.com/news/articles/cqqndqndpq5o
Elon Musk’s Lifts Restrictions on X Accounts in Brazil in Challenge to Court: Billionaire Elon Musk said he will lift restrictions imposed on some X accounts in ...
bloomberg.com/news/articles/2024-04-07/musk-lifts-restrictions-on-x-accounts-in-brazil-in-challenge-to-courts
Paid articlePaidQuick Glance: Elon Musk Lifts Restrictions on X Accounts in Brazil Amid Legal Dispute
- Billionaire Elon Musk announced plans to lift restrictions on some X accounts in Brazil, risking the potential closure of the social media platform in the country.
- The decision came after court rulings forced X to block specific popular accounts in Brazil without disclosing the reasons or legal violations.
- The legal battle unfolds as courts in Brazil escalate efforts to combat fake news and hate speech online.
- Musk has previously clashed with Brazilian authorities over content censorship on his platform, arguing that it goes against the law and the will of the Brazilian people.
Mark Zuckerberg has passed Elon Musk as the world's third-richest person as Tesla stock hits new lows
qz.com/tesla-musk-meta-facebook-zuckerberg-wealth-stock-1851419657
Yuan (CNY USD) Usage Making Larger Share of International Payments, Swift Says: The Chinese yuan is accounting for a growing share of international payments ...
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Tesla's Layoffs Won't Solve Its Growing Pains: The car company popularized EVs. Now, facing intense competition from China, it has to figure out what to do next.
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Fire Engulfs Copenhagen Landmark Old Stock Exchange Building: A fire ripping through Denmark’s old stock exchange building has torn down the structure’s ...
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- A blaze engulfed Copenhagen’s historic former stock exchange in Denmark’s capital on Tuesday, with the spire being consumed by flames and collapsing.
- The fire spread across multiple floors of the monument, leading to the collapse of its roof, as reported by local fire department chief Jakob Vedsted Andersen.
- The tower, standing at 184 feet, featured a distinctive design resembling four intertwined dragons’ tails, symbolizing protection against enemies and fire, as indicated by tourism websites.
- Deputy Prime Minister Troels Lund Poulsen referred to the incident as Denmark’s unique moment akin to Notre Dame, alluding to the 2019 fire in the roof of the Parisian landmark.
Gold Prices at a Record High Are Keeping Pawn Shops Busy: Record prices pushing toward $2,500 an ounce are proving hard to resist
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Paid articlePaid US Imposes Fresh Sanctions on Iran Over Israel Drone Barrage: The Biden administration imposed fresh sanctions on Iran over its April 13 strike on Israel ...
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Paid articlePaidQuick Glance: Israeli Push for Sanctions Against Iran Amid ‘Diplomatic Offensive’
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- Israeli Foreign Minister Israel Katz has called on 32 countries to impose sanctions on Tehran as Israel considers a military response to Iran’s attack.
- Israeli military sources reported intercepting 99 percent of aerial threats with assistance from the United States and allies, causing only minor damage.
- Tensions are high as Israel ponders its reaction to Saturday's attack while Germany calls for new sanctions related to Iran's drone supply to Russia for use in Ukraine.
US Consumer Prices Rose More Than Expected in March
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Oil Poses More Risks for Yen (JPY USD) as Japan Depends on Energy Imports: As if the yen doesn’t have enough reasons to weaken, risks are emerging that higher ...
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Japan’s Finance Minister Warns on Yen Ahead of IMF-G7 Meetings: Japan’s finance minister warned that he’s ready to take all available measures in the foreign ...
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Days After Layoffs, Tesla Pushes Stockholders to Approve Elon Musk's $56 Billion Pay Package
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Banxico’s Espinosa Says It’s Too Soon for a Long Easing Cycle: Mexico central bank Deputy Governor Irene Espinosa on Wednesday said it’s too soon to talk about a ...
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IMF Says Growth’s Secret Sauce Is American Catch-Up: Data from its latest World Economic Outlook suggest that the more a country’s product and labor markets ...
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Paid articlePaid Elon Musk’s Grok keeps making up fake news based on X users’ jokes: X likely hopes to avoid liability with disclaimer that Grok "can make mistakes."
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China Outweighs G-7 as Leading Driver of Global Economic Growth: China will be the top contributor to global growth over the next five years ...
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IMF Steps Up Its Warning to US Over Ballooning Debt
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Paid articlePaid Tesla tries legal 'Band-Aid' to revive Musk's huge pay deal: Tesla and Elon Musk are seizing upon an obscure provision in corporate law to attempt to restore ...
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Elon Musk confirms he used a secret account on X : Elon Musk said he had used an alternate "test account" on X, with which he at times roleplayed as a toddler.
businessinsider.com/elon-musk-confirms-secret-twitter-account-x-child-2024-4
Moody’s Reduces Outlooks on Direct Lending Funds Managed by BlackRock, Oaktree: Moody’s Ratings this week gave private credit investors greater reason for ...
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Solar Groups Lobby Biden to Head Off Trade Case Over Import Tariffs: Solar developers are lobbying the Biden administration to bolster support for domestic ...
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Paid articlePaid Elon Musk predicts AI will overtake human intelligence next year: Tesla chief says infrastructure will need to keep up with technology’s demands as he seeks ...
ft.com/content/027b133f-f7e3-459d-95bf-8afd815ae23d
Quick Glance: Elon Musk Predicts AI Surpassing Human Intelligence Next Year
- Elon Musk predicts that artificial intelligence will surpass human intelligence by the end of next year, given the necessary infrastructure to meet technological demands.
- Musk anticipates that AI capabilities will likely exceed those of all humans in the next five years.
- A series of AI breakthroughs in the past 18 months have accelerated development faster than expected, with Musk being more optimistic than previous forecasts.
- Musk has intensified his efforts to enter the AI race by seeking funding for his own AI startup to compete with OpenAI, while also advocating for a pause in the development of advanced AI systems.
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Paid articlePaid Wall Street wants answers from Elon Musk on Tesla's Model 2 car: Elon Musk has kept investors hanging since he issued cryptic social posts following an exclusive ...
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Lindner Says Germany Should Avoid Copying US IRA as It Doesn’t Reduce Inflation: German Finance Minister Christian Lindner warned his coalition partners against ...
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Paid articlePaid Emerging Market FX Index Drops to 2024 Low After Iran’s Attack on Israel: The resurgent dollar cut a swath through global emerging-market currencies Tuesday ...
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Shopper sparks outrage after 'paying $7 for a single apple:' 'What economy are we all f--king living in?'
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Quick Glance: Outrage Stirred by Expensive Apple Purchase
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- The TikTokker claimed the apple cost $7, causing outrage among viewers, although some expressed doubts about her story.
Summers Warns About Avoiding a ‘Large and Egregious Error’ in Monetary Policy: Inflation data show the Fed should leave rates where they are, he says
bloomberg.com/news/newsletters/2024-04-13/summers-warns-about-avoiding-a-large-and-egregious-error-in-monetary-policy
Oil Traders Wager on $250 Price by June as War Risk Escalates: Oil traders piled into more than 3 million barrels worth of options contracts in a bet that prices ...
trib.al/ckNH2nm
Musk’s next big payday matters more than his last: Yesterday’s paycheck is a poor guarantee of good work tomorrow. Electric-car maker Tesla is asking investors ...
reuters.com/legal/transactional/musks-next-big-payday-matters-more-than-his-last-2024-04-17/
Emerging-Market Assets Sink to 2024 Low Amid Growth, Rate Risks: The benchmark index for emerging-market equities erased its 2024 advance and the gauge for ...
bloomberg.com/news/articles/2024-04-16/emerging-market-assets-sink-to-2024-low-amid-growth-rate-risks
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Tesla execs Drew Baglino and Rohan Patel leave as company lays off 10%: Two high-profile executives have departed Tesla the same day that the electric automaker ...
techcrunch.com/2024/04/15/tesla-layoffs-workers-sales-cybertruck-cuts/
Treasury Yields Reach New 2024 Highs After March Retail Sales: Most US Treasury yields climbed to new year-to-date highs — and the 2-year note’s approached 5% — ...
bloomberg.com/news/articles/2024-04-15/treasury-yields-reach-new-2024-highs-after-march-retail-sales
Paid articlePaid Scottish Power to Pay £1.5 Million for Overcharging Customers: One of Britain’s largest energy suppliers was slapped with a £1.5 million ($1 ...
bloomberg.com/news/articles/2024-04-16/scottish-power-to-pay-1-5-million-for-overcharging-customers
Paid articlePaid Foreigner Investors Set to End Emerging Asia Stock-Buying Streak: Global funds are retreating from emerging markets in Asia, with a five-month buying spree of ...
bloomberg.com/news/articles/2024-04-17/foreigner-investors-set-to-end-emerging-asia-stock-buying-streak
Paid articlePaid India Elections: An Election Meme War Unfolds As Modi's BJP Outspends Opposition
bloomberg.com/news/articles/2024-04-17/india-elections-an-election-meme-war-unfolds-as-modi-s-bjp-outspends-opposition
Paid articlePaid Northrop Grumman working with Musk's SpaceX on U.S. spy satellite system: Aerospace and defense company Northrop Grumman is working with SpaceX ...
reut.rs/4aBz8OU
EU Aims for New Iran Sanctions Over Israel Strike in Coming Days: The European Union aims to propose fresh sanctions on Iran over its strike on Israel as early ...
bloomberg.com/news/articles/2024-04-16/eu-aims-for-new-iran-sanctions-over-israel-strike-in-coming-days
Tesla cancels some layoff separation agreements: Some laid off Tesla workers received a notification that their separation agreement had been canceled.
businessinsider.com/tesla-cancels-some-layoff-separation-agreements-2024-4
Fed’s Beige Book Holds Clues to Predicting Downturn, Study Shows: A trove of anecdotes on the economy gathered by the Federal Reserve over five decades may hold ...
bloomberg.com/news/articles/2024-04-17/fed-s-beige-book-holds-clues-to-predicting-downturn-study-shows
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