Biden Asks Congress for $56 Billion in Domestic Spending
President Joe Biden is asking lawmakers to approve just under $56 billion in disaster relief and other domestic
2023-10-26 10:19
Korea’s Economic Growth Holds Steady in Sign of Resilience
South Korea’s economic growth held steady on the back of recovering exports, offering a sign of resilience as
2023-10-26 07:48
‘Little baby’ Elon Musk had meltdown on Tesla earnings call, analyst claims
Elon Musk has been accused of acting like “a little baby” and being “almost in tears” during an earnings call in which the billionaire struck a pessimistic tone about the economy. The Tesla CEO’s behaviour on the third-quarter earnings call was slammed as “terrible” by financial analyst Kevin Paffrath and the electric automaker’s stock price dropped 15 per cent in the two days following it. “For a leader to cry about the economy rather than funnelling that and coming up with a plan is pathetic,” Mr Paffrath, who owns Tesla stock, told Yahoo Finance. And he added: “We need to know the light is at the end of the tunnel rather than hearing a complaining CEO who’s not actually providing that path.” Tesla reported weaker-than-expected third-quarter results, with both earnings per share and revenue of $23.35bn falling short of analysts’ estimates, according to Yahoo Finance. But despite the issues as of Friday, the company’s share price was up 96 per cent year-to-date. Mr Paffrath, a YouTuber with 1.9 million followers, was not the only analyst to criticise Mr Musk’s performance. Wedbush Securities analyst Dan Ives described the call as a “mini disaster” during which a “cautious” Mr Musk downplayed expectations for the Cybertruck and focused on high interest rates. “We dug our own grave with Cybertruck” Mr Musk said on the call, calling it a “great product” but also said he wanted to “temper expectations” for the long-awaited pickup truck. “Demand is off the charts. We have over 1 million people who have reserved the car, so it’s not a demand issue,” he said. “But we have to make it, and we need to make it a price that people can afford, insanely difficult things.” The Independent has reached out to Tesla for comment.
2023-10-25 21:57
Kokusai Electric Soars 28% After Japan’s Biggest IPO Since 2018
Japanese chip-equipment maker Kokusai Electric Corp. jumped in Tokyo on Wednesday after the largest initial public offering in
2023-10-25 16:28
China Ousts Defense Minister, Ending Mystery Over His Status
China’s Li Shangfu became the nation’s shortest-serving defense minister ever, ending months of speculation over his status, as
2023-10-25 08:15
Apple backs Biden's push for right-to-repair law
By Andrea Shalal, Stephen Nellis and David Shepardson WASHINGTON (Reuters) -Apple, the world's largest tech company, said on Tuesday that
2023-10-25 05:50
Instagram linked to depression, anxiety, insomnia in kids - US states' lawsuit
Dozens of U.S. states are suing Meta Platforms and its Instagram unit, accusing them of contributing to a
2023-10-25 00:46
Philips Lifts Outlook on Continued Supply-Chain Improvement
Royal Philips NV raised its full-year outlook after supply-chain constraints eased to give some breathing room to the
2023-10-23 13:47
Japan Begins Probe Into Google for Alleged Antitrust Violations
Japan’s antitrust watchdog has begun an investigation into whether Alphabet Inc.’s Google abuses its market position to block
2023-10-23 13:26
Argentina Markets Brace for Selloff After Massa Forces Runoff
Argentina investors again braced for a selloff after Economy Minister Sergio Massa did better than forecast in Sunday’s
2023-10-23 11:55
Korea’s Early Export Gain Points to Recovering Global Demand
South Korea’s early exports returned to growth for the first time in more than a year in another
2023-10-23 10:55
SEC Asks Judge to Dismiss Charges Against Ripple Co-Founder, CEO
The Securities and Exchange Commission asked a federal judge in New York to dismiss its case against crypto
2023-10-20 11:15