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☆ Tesla to explore locations in India for $3 billion EV factory, FT reports
▼ + stars: | 2024-04-04 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

An electric vehicle of the model Y is pictured during the start of the production at Tesla's "Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berlin. The plant could be worth $2 billion to $3 billion, FT reported on Wednesday, citing two people with knowledge about the plans. The EV maker will focus on the states of Maharashtra, Gujarat and Tamil Nadu that already have automotive hubs, according to the report. India last month lowered import tariffs on certain EVs for automakers willing to invest at least $500 million and start domestic manufacturing in the country within three years. Modi met Tesla CEO Elon Musk in June and invited him to explore investment opportunities in India for electric vehicles.

Persons: Tesla, Patrick Pleul, PATRICK PLEUL, Narendra Modi's, Modi, Elon Musk Organizations: Getty, Financial Times Locations: Gruenheide, Berlin, Germany, India, Maharashtra, Gujarat, Tamil Nadu

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ Germany’s housebuilding sector is in a 'confidence crisis' as the economy struggles
▼ + stars: | 2024-02-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Patrick Pleul | Picture Alliance | Getty ImagesGermany's housebuilding sector has gone from bad to worse in recent months. "The housebuilding sector is, I would say, a little bit in a confidence crisis," Dominik von Achten, chairman of German building materials company Heidelberg Materials, told CNBC's "Squawk Box Europe" on Thursday. In January both the current sentiment and expectations for the German residential construction sector fell to all-time lows, according to data from the Ifo Institute for Economic Research. The business climate reading fell to a negative 59 points, while expectations dropped to negative 68.9 points in the month. Habeck pointed to higher interest rates as a key challenge for the economy, explaining that those had led to reduced investments, especially in the construction sector.

Persons: Patrick Pleul, Dominik von Achten, CNBC's, Klaus Wohlrabe, Robert Habeck, Wohlrabe, It's, Achten Organizations: Getty, Heidelberg Materials, Ifo Institute for Economic Research, Hamburg Commercial Bank, PMI, Climate Locations: Germany, Ifo, Heidelberg

☆ Microsoft's $3 trillion market cap milestone is the latest in a string of wins for Big Tech's elder statesman
▼ + stars: | 2024-01-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Microsoft notching another big win by briefly reaching a $3 trillion valuation. It's an impressive run for a company often viewed as the least sexy in Big Tech. 3 things in marketsInstagram/grandmabetty33The stock market is looking gray, and that's a bad thing. A famed economist said you shouldn't confuse a booming stock market with a strong economy. Nobel economist Paul Krugman recently wrote about how consumers feel too optimistic about the economy due to the current stock market rally.

Persons: —, Ethan Miller, Phil Rosen, OpenAI, Ashley Stewart, Tim Matsui, Ashley, That's, it's, It'll, aren't, We're, Taylor, Paul Krugman, Patrick Pleul, Mark Zuckerberg, Marc Benioff chatted, Brad Barket, Jon Stewart, Stewart, Trevor Noah, Donald Trump, Jean Carroll's Organizations: Service, Microsoft, Apple, Amazon, Big, Rosenberg Research, AP Tesla, EV, Microsoft Windows, Walmart, Comedy Central, Bank of America, Intel, Visa, Southwest Airlines, Comcast Locations: Big Tech

☆ How to find a hobby
▼ + stars: | 2024-01-20 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +7 min

But if that's not for you — or if you're struggling to find something to do outside of work — experts shared how to find a hobby. The big storyA guide to finding a hobbyRobyn Phelps/InsiderHaving a hobby can help people tackle their work and personal life with more energy. Treat finding a hobby like a projectYou likely won't find the perfect fit immediately, Laura Vanderkam, the author of "168 Hours: You Have More Time Than You Think," told me. Or if they're also trying to find a hobby, ask what the people around them do for fun. Be patient but proactiveAdvertisementVanderkam told me that finding a hobby just takes a bit of time, experimentation, and being open to different things.

Persons: —, that's, Robyn Phelps, I've, Alexis Haselberger, Laura Vanderkam, It'll, Vanderkam, Haselberger, they're, she's, Joey Hadden, andresr, Kornmesser NASA's James Webb, Gen, Patrick Pleul Organizations: Service, Business, Orient, Express, Volkswagen, Ford, Tesla, LinkedIn, ESO, ESA, Hubble, Kornmesser NASA's James Webb Space Telescope, IKEA, Getty, Ikea Locations: Venice, Brandenburg, Schönefeld, Dahme

☆ Robots Are Looking Better to Detroit as Labor Costs Rise
▼ + stars: | 2024-01-15 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

Robots weld the body of a Model Y electric vehicle at Tesla’s factory near Berlin. Photo: Patrick Pleul/dpa/picture alliance/Getty ImagesAutomakers are looking to an old friend to help offset rising labor costs: robots. For decades, car companies have increased automation inside their factories. Now, auto executives are looking more closely at this approach, to address a rising labor bill and take advantage of more sophisticated technology.

Persons: Patrick Pleul Organizations: Getty Locations: Berlin

☆ Tesla raises price of Model Y long-range in China from Nov 21
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: 1 min

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowBEIJING, Nov 21 (Reuters) - Tesla Inc (TSLA.O) has increased the price of its Model Y long-range vehicle in China by 2,000 yuan to 304,400 yuan ($42,212.70) from Tuesday, the company said in a notice. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Liz Lee and Shanghai newsroom Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Patrick Pleul, Liz Lee, Shri Navaratnam Organizations: Inc, BEIJING, Tesla Inc, Thomson Locations: Gruenheide, Germany, China, Shanghai

Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. The agency on Thursday asked a federal court to force Musk to testify for its investigation into his $44 billion takeover of social media giant Twitter, the third time the SEC has taken Musk to court. "This case is different from past forays between the SEC and Elon Musk because it's a subpoena enforcement case. Musk also refused SEC proposals to testify in Texas, where he lives, in October or November, the SEC said. In 2022, a judge ordered Terraform Labs' founder to comply with an SEC subpoena for documents.

Persons: Elon Musk, Patrick Pleul, Musk, Musk's, Stephen Crimmins, Davis Wright Tremaine, Alex Spiro, Howard Fischer, Moses, Moses & Singer, Jay, Spiro, Tesla, Robert Frenchman, Mukasey Frenchman, Chris Prentice, Michelle Price, Lisa Shumaker Organizations: WASHINGTON, U.S . Securities, Exchange Commission, SEC, Twitter, Elon, Moses &, Terraform Labs, Reuters, Thomson Locations: Gruenheide, Germany, videoconference, San Francisco, Texas

☆ Private jets get a bad rap. Jetex is trying to make them greener
▼ + stars: | 2023-05-29 | by ( Rym Bendimerad | ) edition.cnn.com time to read: +7 min

Because they often travel shorter distances than commercial jets, private jets are generally less efficient, and their emissions per passenger are much higher. According to data from European non-profit Transport and Environment, private jets can be five to 14 times more polluting than commercial planes, and 50 times more polluting than trains. Yet the private aviation sector has seen considerable growth in recent years. EVTOL aircraft have a more limited range than private jets, and would be used for short flights around and between cities – which, in the future, could be an eco-friendlier option for the many celebrities who’ve been criticized for traveling short distances in their private jets. “We are seeing some really exciting innovations coming from private aviation,” said Dr. Kearns.

☆ Tesla's price cuts highlight Elon Musk's last advantage in the EV business
▼ + stars: | 2023-04-23 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

Teslas are cheaper than everA Tesla Model Y. Patrick Pleul/Getty ImagesIn the market for a new car? Elon Musk's hoping that recent price cuts might turn you on to a Tesla. The billionaire might just be turning to his one remaining advantage in the EV business. But Tesla can cut prices and still deliver profits, something rival automakers struggle to do in their EV businesses. While Tesla investors are worrying about profits, Musk's rivals have their own reasons to be concerned, Stephen Beck, founder and managing partner of consultancy cg42, told Insider.

☆ Matthew McConaughey's Salesforce gig
▼ + stars: | 2023-03-04 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

Hallam Bullock here, reporting from London — and yes, Matthew McConaughey is on my mind. Salesforce has reportedly been paying McConaughey $10 million a year to act as a "creative adviser." Robyn Phelps/InsiderProgrammers are thrilled about AI tools like ChatGPT. Read why programmers are pumped about the rise of AI tools. Larry Lundstrom spends about 40 to 60 hours a week as a pastor, but on the side, he uses AI tools like ChatGPT to make pitch decks for businesses.

[1/3] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. The plan was unveiled in 2006 and the first model, the Roadster sports car, rolled out in 2008 at a price of $89,000. Musk had first estimated in 2015 that Tesla vehicles would be able to drive themselves by 2018. ENABLE CAR TO MAKE MONEYHe said consumers will be able to summon their self-driving Teslas from anywhere. Last year, Musk said Tesla expects to mass-produce a robotaxi with no steering wheel or pedal by 2024, after missing his targets for self-driving vehicles multiple times.

☆ Factbox: Tesla CEO Musk signals Part 3 of Master Plan is ready
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +3 min

[1/2] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. PART I (2006) - THE SECRET TESLA MOTORS MASTER PLAN (JUST BETWEEN YOU AND ME):BUILD SPORTS CAR AND AFFORDABLE EVsBefore Tesla put out its first production car, Musk set expectations for three: a sports car, a cheaper four-door family car and an even more affordable third model. The plan was unveiled in 2006 and the first model, the Roadster sports car, rolled out in 2008 at a price of $89,000. Musk had first estimated in 2015 that Tesla vehicles would be able to drive themselves by 2018. But Tesla is yet to unveil a detailed plan for its ride-sharing and robotaxi services.

☆ Tesla, after recent cuts, raises starting price of Model Y in China
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERSCompanies Tesla Inc FollowSHANGHAI/BEIJING, Feb 10 (Reuters) - Tesla Inc (TSLA.O) has increased the starting price of its Model Y crossovers by 0.8% to 261,900 yuan ($38,577.11) in China, after the company's aggressive price cuts at the beginning of the year ignited demand. Tesla raised the price for the rear-wheel drive version of Model Y by 2,000 yuan from 259,900 yuan previously, according to the price information listed on the company's Chinese website on Friday. The U.S. automaker planned to step up output at its Shanghai plant over the next two months to meet demand stoked by aggressive price cuts on its best-selling models, Reuters reported previously. Tesla kept the prices for other versions of Model Y and the Model 3 cars unchanged.

[1/5] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. He added later that he chose not to take Tesla private due to a lack of support from some investors and a wish to avoid a lengthy process. Musk told the investors' lawyer Nicholas Porritt that he met on July 31, 2018, with representatives of Saudi Arabia's sovereign wealth fund, the Public Investment Fund, at Tesla's factory in Fremont, California. That never came to pass, Musk said, because the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private. "I was very upset because he had been unequivocal in his support for taking Tesla private when we met and now he appeared to be backpedaling," Musk testified.

Patrick Pleul/Getty Images; Vicky Leta/InsiderLate Thursday, Elon Musk began his much-anticipated mass layoffs at Twitter. The layoffs are part of a new culture that Musk has unleashed at the company. But now, this person said, the company's new workaholic culture is "psychologically unsafe" and has "Elon's stamp all over it." How Gen Z is shaping the workplace. They're happier, they have a lot more confidence, and they feel like they're able to conquer a lot more than before."

☆ Layoffs have already started at Elon Musk's Twitter. Here's what we know so far.
▼ + stars: | 2022-11-04 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Elon Musk began to terminate Twitter staffers last night, insiders told us. Last night Elon Musk's Twitter broke its silence with employees and sent a memo to staffers confirming that much-anticipated layoffs were happening the following day (so, today). But staffers told us the terminations started shortly after that email went out. Workers suddenly started to get locked out of services like Slack and email around 8 p.m. PT on Thursday night, multiple employees told Insider. Citing an "unusual macro-economic environment," Amazon told staff it'd put a pause on new corporate hires.

☆ Elon Musk has given us a glimpse into his plans for increasing Twitter's revenue
▼ + stars: | 2022-11-02 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

If you're snoopy like me, you probably spend a lot of time looking at homes on Zillow or Google Maps. It's not all Google Maps-based side-hustle stories today; We've got other tech news to get to. There's a lot going on in the Musk-Twitter universe this week, and while much remains murky, Musk's plans for generating revenue (and cutting costs) are starting to solidify. Amazon Prime members just got a new perk. Per The Verge, Prime subscribers now have access to Amazon Music's full catalog of 100 million songs — but will only be able to listen on shuffle unless they pay extra.

Welcome back to Insider Weekly, a roundup of some of our top stories. The industry took a beating after Meta, Alphabet, Amazon, and Microsoft reported poorer-than-expected earnings, wiping nearly $1 trillion off their collective market caps. Microsoft and Amazon reported slower growth in their usually outperforming cloud divisions, with Amazon also warning of slower holiday sales. Stephen Lam/Getty ImagesAmid a streak of disappointing financial results, inflation, and global turmoil, companies like Meta, Microsoft, and Google are looking to rein in runaway costs. For years, Big Tech companies competed on pay and perks to lure workers in a tight labor market.

☆ Twitter Purchased by Elon Musk: A Timeline of How It Went Down
▼ + stars: | 2022-10-28 | by ( Todd Olmstead | ) www.wsj.com time to read: 1 min

June 6Mr. Musk threatens to walk away from the deal in a letter from his lawyer accusing Twitter of not complying with his request for data on the number of spam and fake accounts on the social-media platform. Patrick Pleul/Getty Images

☆ Exclusive: Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
▼ + stars: | 2022-10-25 | by ( Paul Lienert | ) www.reuters.com time to read: +3 min

To put the figure in context, Alphabet (GOOGL.O), the parent company of Google and Waymo, has a market cap of $1.3 trillion. Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.

☆ EXCLUSIVE Automakers to double spending on EVs, batteries to $1.2 trillion by 2030
▼ + stars: | 2022-10-21 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterAutomakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Leading the charge is Tesla (TSLA.O), where Chief Executive Elon Musk has outlined an audacious plan to build 20 million EVs in 2030, requiring an estimated 3 terawatt-hours of batteries. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.

☆ Everything you want to know as OPEC+ agrees to cut oil production
▼ + stars: | 2022-10-06 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +7 min

OPEC+ agreed to cut production. But the group — which includes Saudi Arabia, the United Arab Emirates, and Russia — agreed Wednesday to slash daily oil production by 2 million barrels, in a bid to send crude prices higher. But OPEC+ defended their decision, saying it was in response to "uncertainty that surrounds the global economic and oil market outlooks." At a news conference after the meeting, the Saudi energy minister added: "We would rather be pre-emptive than be sorry," the New York Times reports. The country's deputy prime minister, Alexander Novak, said the EU's plan could lead to Russia temporarily cutting oil production further — a move that would see crude prices rise, and gasoline follow.

☆ Elon Musk says 'population collapse' is more dangerous than global warming. Experts say that won't happen.
▼ + stars: | 2022-09-02 | by ( Isobel Asher Hamilton | ) www.businessinsider.com time to read: +4 min

Elon Musk is scared low birth rates could lead to what he calls "population collapse." Experts told Insider the global population is still growing, and when it shrinks it'll be gradual. "Global population decline is therefore still some way off, and is likely to happen gradually when it does take place. Dr. Peter Matanle, an expert in East Asian social and cultural geography, agreed low birth rates "will not cause a population collapse." Reid also disputed Musk's claim that low birth rates are a "bigger risk to civilization than global warming."

☆ These startups are beating Elon Musk in the race to let you mind meld with your computer
▼ + stars: | 2022-08-17 | by ( Adam Rogers | ) www.businessinsider.com time to read: +21 min

That's when I started reporting on them, and like any good nerd I was compelled by what scientists could learn with these "brain computer interfaces." The race for implantable brain chips has been a long, deliberate marathon. Graham Felstead, who has severe paralysis, was the first person to have a BCI inserted via the blood vessels. Brain chips will enable them to perform simple actions on their own and reduce the need for round-the-clock care. "When we started in 2015 and I was pitching venture capitalists on brain computer interfaces, no one knew what a brain computer interface was," says Matt Angle, the CEO of Paradromics.

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