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Musk's Prudence About Tesla's Ownership Raises Governance Concerns

According to governance experts and analysts, Elon Musk's threat to develop robotics and AI outside of Tesla unless he gains greater voting power may violate his duties as CEO and cast doubt on the automaker's valuation.   The outspoken billionaire declared on Monday that unless he has...

With Growing Rivalry, Apple Sells iPhone 15 In China At Rare Discounted Rates

Amid increasing competition in the largest smartphone market globally, Apple is slashing the prices of its iPhones in China by as much as 500 yuan ($70). This is a remarkable markdown for the company.   The American tech giant reduced the cost of select iPhone models by 5% on Monday,...

Despite A US Embargo, China's Government And Military Purchase Nvidia Chips

According to a report citing information from the tender documents, Chinese military entities, state-run artificial intelligence research institutes, and universities have over the past year purchased small quantities of Nvidia semiconductors prohibited by the U.S. from sale to China.   The...

Citi Reports A $1.8 Billion Deficit In A "Disappointing" Quarter Will Eliminate 20,000 Jobs

Citigroup announced that it would eliminate 20,000 positions over the following two years in response to a "clearly disappointing" quarter that included one-time costs that cost the company $1.8 billion.   The bank's shares, which have increased by more than 1%, is in the midst of a...

Rental Company Hertz Swaps Out Electric Vehicles, Including Tesla’s, For Gas Powered Ones

In another indication that EV demand has decreased is the rental company Hertz Global Holdings, which is selling nearly 20,000 electric vehicles, including Teslas, from its U.S. fleet almost two years after an agreement with the automaker to rent out its vehicles.   Hertz announced on...

EU Inspectors Will Check China's BYD, Geely, And SAIC In EV Investigation

Investigators from the European Commission will inspect Chinese automakers in the coming weeks as part of an inquiry into whether to impose punitive tariffs to safeguard European electric vehicle (EV) manufacturers, according to a Reuters report quoting information from three people familiar with...

Microsoft Rivals Apple As The World's Most Valuable Firm

A recent drop in Apple's stock due to concerns over iPhone sales has put the Silicon Valley tech titan in risk of being surpassed by Microsoft as the world's most valuable business.   Fresh concerns about smartphone demand have sent Apple's stock down 4% so far in 2024, after rising 48% last...

Intel Confronts Nvidia And Qualcomm With 'AI PC' Chips For Automobiles

Intel has announced that it will release automotive versions of its latest AI-enabled chips, competing with Qualcomm and Nvidia in the market for semiconductors that can power the brains of future cars.   Intel also announced the acquisition of Silicon Mobility, a French business that...

Volkswagen Vehicles Will Communicate With Drivers Using ChatGPT By Mid-Year

Volkswagen's voice assistant, which incorporates ChatGPT into its vehicles, will be able to talk with customers in a back-and-forth discussion by the middle of the year, the automaker announced on Monday while presenting the technology in Las Vegas.   At the CES electronics trade show,...

30% Decline In iPhone Sales In China In The First Week Of 2024 Says Jefferies

According to a note from Jefferies analysts, Apple's iPhone sales in China fell by 30% in the first week of 2024. This is another indication that the American tech giant is facing increasing competitive pressure from local rivals like Huawei.   According to a note the brokerage released on...

The Never Ending 737 MAX Crisis For Boeing

The most recent setback for Boeing's best-selling 737 MAX aircraft happened on Friday when an Alaska Airlines flight had to make an emergency landing due to a blowout in a cabin panel.   A temporary grounding of specific aircraft was mandated by US officials for safety inspections. That's...

CEO Of McDonald's Claims Fighting Has Affected Numerous Middle Eastern Markets

Chris Kempczinski, the CEO of McDonald's, stated that the Israel-Hamas war and "associated misinformation" about the brand were having a "meaningful business impact" on a number of Middle Eastern and international markets.   Mostly unplanned, grassroots boycott movements against major...
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