The FinTech Hub
Source: The Verge Tesla has hit back following a Wall Street Journal report that its board had initiated a search for a new CEO to replace Elon Musk, taking to Musk’s social platform X to call the claim “absolutely false.” According to the WSJ report, about a month ago Tesla’s board began the process of…
Source: Live Mint Tesla stock price declined more than 3% on Wednesday after a report that the company’s board had initiated a search for a potential successor to CEO Elon Musk. Tesla share price ended 3.38% lower at $282.16. In the extended hours, Tesla shares gained 0.13% According to a Wall Street Journal report citing…
Source: The Verge I once wondered whether law enforcement might stop Elon Musk’s power grab. About a month ago, I got my answer: no. On March 17th, the Musk-led Department of Government Efficiency broke into the nonprofit, congressionally funded US Institute for Peace, according to court documents filed by the USIP’s board of directors. By…
Source: The Verge Elon Musk’s expansive portfolio of companies could avoid more than $2.37 billion in potential legal liability due to his unprecedented influence over the US government, a new Senate report finds. The figure comes from a report assembled by Democratic staff for the Senate Homeland Security permanent subcommittee on investigations (PSI) probing the…
Source: The Verge Last night, Elon Musk did what he does best: promise “millions” of autonomous Tesla vehicles would be on the road by the end of next year. It’s become a familiar refrain. Every year since at least 2020, Musk has promised Tesla vehicles will finally achieve their full self-driving capabilities. And every year,…
Source: Live Mint Tesla reported a 71% year-on-year decline in first-quarter profit, as weakening automotive demand and geopolitical uncertainties weighed on the electric vehicle (EV) maker’s performance. The company posted a net profit of $409 million for the January–March period, falling short of analyst expectations. Revenue for the quarter declined 9% year-on-year to $19.34 billion,…
Source: The Verge Tesla released its first quarter financial earnings today, offering another peak into the crisis currently enveloping Elon Musk’s company. Tesla said it earned $409 million in net income on $19.3 billion in revenue. That represents a 9.4 percent decrease year over year compared to $21.3 billion in revenue in Q1 2024 and…
Source: The Verge Elon Musk runs companies that make electric vehicles and solar panels, things that are supposed to reduce pollution and fight climate change. But over the years, Musk’s companies have faced repeated accusations by regulators including the Environmental Protection Agency (EPA) that they’ve skirted the law, from allegations of Tesla mishandling hazardous waste…
Source: The Verge SpaceX is in the lead to help President Donald Trump create the “Golden Dome” missile defense system, according to Reuters. The Elon Musk-owned company is reportedly working with the data analysis firm Palantir and the defense company Anduril to build “key parts” of the Golden Dome that, like Israel’s Iron Dome, would…
Source: Live Mint The problem of growing credit card debt is not limited to the general public. Even employees of the US federal government face the same issue – at least, that’s what DOGE, a government audit body reportedly conceived by Tesla and SpaceX CEO Elon Musk, has confirmed. Recently, the official social media handle…
