Musk’s plan to buy Twitter has worried policymakers around the world. Joe Skipper | Reuters Less than three months after agreeing to buy Twitter for $44 billion, Elon Musk says he wants out. It’s no surprise — Musk has been expressing buyer’s remorse since shortly after he announced the deal. Attorneys representing Musk sent a … Read more
Photo: Spencer Platt (Getty Images) There’s another exciting new metric for how expensive cars are getting, Tesla’s global factory logjams are catching up with it and Renault and Nissan need to leave each other already. All that and more in this Friday edition of The Morning Shift for July 1, 2022. 1st Gear: Sign of … Read more
In May, electric-vehicle maker Tesla was removed from the S&P 500’s ESG Index. In response, CEO Elon Musk tweeted that ESG was “a scam” that had been “been weaponized by phony social justice warriors.” jim watson | AFP | Getty Images Tesla chief Elon Musk may have misunderstood the meaning behind ESG (environmental, social, and … Read more
Washington, D.C. CNN — Tesla (TSLA) is increasingly turning to machines rather than humans as it attempts to develop autonomous vehicles. As part of Tesla’s plans to cut 10% of salaried staff, the company has laid off a significant number of its data annotation specialists. These specialists do grunt work that is critical to empowering … Read more
Elon Musk talks at the Automotive World News Congress at the Renaissance Center in Detroit, Michigan. Rebecca Cook | Reuters Tesla is closing its office in San Mateo, California, and eliminating an estimated 200 jobs there, CNBC has confirmed, as part of a broader cost-cutting effort at the electric vehicle company. At the San Mateo … Read more
BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive … Read more
Market watchers have been reluctant to call the bottom on the sell-off in global stocks this year, but some assets are now looking oversold — and could be ripe for a bounce. The stock market has tumbled into a bear market in the first half of this year amid fears that an overly aggressive rate … Read more
Japanese investment bank Nomura has named the battery stocks it thinks are set to pop on rising electric vehicle adoption. The bank estimates that global EV penetration will reach 27.2% in 2030, up from 11.8% in 2022, driven by the “irreversible trend” for carbon neutrality. In a note from Jun. 22, Nomura’s analysts, led by … Read more
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’ll walk you through what’s going on in the current bear market. As usual, find me on Twitter at @FrancesYue_ to send feedback, or tell us what you think we should cover. You can also reach me through email … Read more
Photo: Associated Press Tesla seems to be leading the pack when it comes American-made cars, Senator Joe Manchin killed your hope of getting a bonus tax credit for EVs made with domestic union labor, and General Motors is hitting the pause button at the Hummer EV factory… but it’s a good thing. More: my cat … Read more