Business

Musk To Tesla Workers: Ignore “Stock Market Craziness”

Reuters reports: Tesla Inc Chief Executive Elon Musk told employees that they should not be “bothered by stock market craziness” after the company’s shares fell nearly 70% this year on jitters over softening demand for electric vehicles and Musk’s distraction with running Twitter. In an email sent to staff, Musk said he believes that long term, Tesla will be the …

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CA Bans Tesla From Advertising Cars As Self-Driving

The San Francisco Chronicle reports: A Tesla with Full Self-Driving software was reportedly responsible for causing an eight-car crash on the Bay Bridge on Thanksgiving that injured 18 people after the car abruptly stopped. But, starting next year, Tesla will effectively be banned from advertising its vehicles as Full Self-Driving under a new law signed by Gov. Gavin Newsom. Senate …

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Southwest CEO “Truly Sorry” About Travel Meltdown

The Associated Press reports: In a video that Southwest posted late Tuesday, CEO Robert Jordan said Southwest would operate a reduced schedule for several days but hoped to be “back on track before next week.” Jordan blamed the winter storm for snarling the airline’s “highly complex” network. He said Southwest’s tools for recovering from disruptions work “99% of the time, …

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Biden Vows To Hold Airlines Accountable For Chaos

USA Today reports: President Joe Biden said his administration will hold airlines accountable after nationwide flight cancellations following an extreme winter storm this past week. Thousands of flights were canceled this week, with many being from Southwest Airlines. “The Committee will be looking into the causes of these disruptions and its impact to consumers,” Sen. Maria Cantwell, D-Wash., chair of the …

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Southwest Has Already Canceled 2500+ Flights Today

CNN Business reports: Air travelers in the US hoping for clear skies on Tuesday following a disastrous week of weather-related flight cancellations and delays will have to extend their patience a few more days — particularly if they’re flying with Southwest Airlines. More than 2,845 flights within, into or out of the US have already been canceled for Tuesday as …

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FBI Warns Of “Pig Butchering” Cryptocurrency Scam

CNN Business reports: The FBI says America has a “pig butchering” problem. And it’s costing victims millions of dollars. “We’re not talking about what’s going on at farms,” said Frank Fisher, public affairs specialist at the bureau’s Albuquerque division. “We’re talking about a cryptocurrency investment scam that is sweeping the country.” The term pig butchering refers to an unsuspecting victim …

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Musk: Don’t Borrow Against Stocks (Like He’s Done)

Bloomberg News reports: Billionaire Elon Musk is warning against something he himself has done — borrowing against the value of securities one owns — because of the risk of “mass panic” in the stock market. “I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep powder dry,” …

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National “Weed Glut” Is Causing Prices To Plummet

Politico reports: Ill-fated hopes that a Democratic-controlled Washington might loosen decades-old restrictions on the drug have given way to a market glut and plummeting prices that have put scores of businesses at risk of collapse. In Colorado, prices have dropped by 51 percent over the last two years. The price of a pound of weed has plunged by 36 percent …

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Twitter Restores Suicide Prevention Hotlines, Support

The Guardian reports: Twitter has restored a feature that promoted suicide prevention hotlines and support groups after its CEO Elon Musk was criticised over their removal. Musk, who did not initially respond to requests for comment about the removal, had tweeted: “False, it is still there.” The feature, known as #ThereIsHelp, placed a banner at the top of search results …

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NYT: How Elon Musk Is Also “Battering Tesla’s Brand”

The New York Times reports: The truth is that many of the best electric wheels on the market today are not made by Musk. The new competition makes Musk’s recent role as the town crier for the redpilled online right especially puzzling and, for his car company, perilous. Tesla’s new vulnerability is a surprising development. Musk’s chaotic and polarizing tenure …

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Musk Had Twitter Remove Suicide Prevention Hotlines

Reuters reports: Twitter Inc removed a feature in the past few days that promoted suicide prevention hotlines and other safety resources to users looking up certain content, according to two people familiar with the matter who said it was ordered by new owner Elon Musk. The removal of the feature, known as #ThereIsHelp, has not been previously reported. It had …

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Axios: Bloomberg Wants To Buy WSJ Parent Or WaPo

Axios reports: Michael Bloomberg, the billionaire businessman and media mogul, is interested in acquiring either Wall Street Journal parent company Dow Jones or The Washington Post, a source familiar with his thinking told Axios. Bloomberg wants to expand his media empire and sees Dow Jones as his ideal fit, but he would buy the Post if Jeff Bezos were interested …

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NC Chick-Fil-A Fined For Paying Workers With Food

Law & Crime reports: A Chick-fil-A restaurant in North Carolina will have to pay almost $7,000 after it was caught having child employees operate dangerous machinery and trying to pay teen employees in meal vouchers. The DOL found that the same employer “also paid certain employees — who were asked to direct traffic — to work for meal vouchers rather …

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Meta To Settle Cambridge Analytica Suit For $725M

Reuters reports: Facebook owner Meta Platforms has agreed to pay $725 million to resolve a class-action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information. The proposed settlement would resolve a long-running lawsuit prompted by revelations in 2018 that Facebook had allowed Cambridge Analytica to access data of as many as …

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Tesla’s Self-Driving Mode Blamed For 8-Car Crash

ABC News reports: A driver told authorities that their Tesla’s “full-self-driving” software braked unexpectedly and triggered an eight-car pileup in the San Francisco Bay Area last month that led to nine people being treated for minor injuries including one juvenile who was hospitalized, according to a California Highway Patrol traffic crash report. CNN Business obtained the report detailing the crash …

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Netflix Refunds Advertisers After “With Ads” Launch

The Verge reports: Only nine percent of new Netflix subscribers in the US opted for the streaming service’s new ad-supported streaming tier last month, according to data from analytics firm Antenna. That’s compared to the 15 percent of new signups that reportedly opted for competitor HBO Max’s ad-supported subscription during its launch month in 2021. Netflix’s “Basic with Ads” plan …

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Musk: I’ll Resign When I Find A “Foolish” Successor

The New York Times reports: Elon Musk said on Tuesday that he would resign as Twitter’s chief executive when he found “someone foolish enough to take the job,” two days after he had asked his 122 million Twitter followers whether he should step down as the leader of the social media site and a majority of respondents answered yes. Mr. …

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Wells Fargo Ordered To Pay $3.7B For “Illegal Activity”

Via press release from the CFPB: The Consumer Financial Protection Bureau (CFPB) is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines. The bank’s illegal conduct led to billions of dollars in financial harm to its customers and, for …

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CNBC: Twitter Is “Actively Searching” For New CEO

CNBC reports: Twitter owner and CEO Elon Musk is searching for a new CEO of the company, sources told CNBC’s David Faber. Musk, who acquired the company for $44 billion in October, has previously said his position as CEO would be temporary.  However, on Sunday, he wrote in a tweet that “there is no successor.” On Monday, Sen. Elizabeth Warren, …

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Musk: Only Those Who Pay The $8 Can Vote In My Polls

Elektrek reports: Elon Musk appears to be backing out from abiding by the results of a Twitter poll voting him out as head of the social media platform. Musk first responded “interesting” to a comment by Kim Dotcom suggesting that the “deep state” rigged the poll with bots. He then responded the same thing to a theory that the number …

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