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☆ Stellantis CEO Carlos Tavares lost control of the automaker with 'arrogant' mistakes, sources say
▼ + stars: | 2024-12-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +14 min

In this article STLASTLA Follow your favorite stocks CREATE FREE ACCOUNTCarlos Tavares, Chief Executive Officer of Stellantis, attends the Paris Automotive Summit during the 2024 Paris Auto Show in Paris, France, October 15, 2024. It's the word former Stellantis CEO Carlos Tavares used in June to describe mistakes that led to the automaker's troubles in the U.S. Investors also had turned on the chief executive, with U.S.-traded shares of Stellantis off 43% in 2024 prior to his departure. Such issues ultimately led to Tavares' resignation, with the company saying Dec. 1 that he was leaving immediately because of "different views" with Stellantis' board. Until then, the company has established a new interim executive committee led by Chairman John Elkann, scion of Italian automaker Fiat.

Persons: Carlos Tavares, Benoit Tessier, It's, Tavares, Stellantis, Les Echos, Stellantis N.V, John Elkann, Jan, it's, Carlos Ghosn, Sergio Marchionne, Bernstein, Daniel Roeska, Magali Cohen, Tavares —, —, Doug Ostermann, Ostermann, Mack, Bill Pugliano, EVs, Tavares didn't, Tim Kuniskis, Christian Meunier, Jim Morrison, Chamarthi, Natalie Knight, Mark Stewart, Ned Curic, Mark Reuss, Rebecca Cook, Shawn Fain, Kevin Farrish, Antonio Filosa, Farrish, Massimo Pinca Organizations: Paris Automotive Summit, Reuters DETROIT, CNBC, Atlantic, U.S, General Motors, Ford Motor, PSA Groupe, Fiat Chrysler, Stellantis, Dodge, Fiat, Chrysler, Peugeot, The New York Stock Exchange, NYSE, Fiat Chrysler Automobiles N.V, Peugeot S.A, NYSE Tavares, Opel, Nissan, porte de, AFP, Getty, Jeep, Dodge Charger, United Auto Workers, UBS, UAW, Financial Times, Fiat Chrysler's, Swiss Army, Jeep North, America, Goodyear Tire, Co, Reuters, North, Fiat Panda Locations: Paris, France, U.S, Portuguese, North America, Stellantis, porte, porte de Versailles, Portugal, Europe, Detroit, Detroit , Michigan, Jeep North America, Auburn Hills , Michigan, Antonio, Turin, Italy

☆ Germany’s auto giants are struggling to stay relevant
▼ + stars: | 2024-10-18 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

The latter appeared to hint at the Germany's waning influence over regional policy — a likely unthinkable notion only a few years ago. "The question is whether German car makers manage to adjust their product portfolios, change their organizations, and ramp up productivity quickly enough to preserve the status and relevance they had for decades." Brand loyaltyNot everyone is as concerned about the outlook for Germany's car industry. Sigrid de Vries, director general of the European Automobile Manufacturers' Association (ACEA), a car lobby group, said she finds it "really hard to believe" that Germany's auto sector is struggling to adapt to the electrification. Stephane Mouchmouche | Afp | Getty ImagesSome hope that this week's Paris Motor Show could prove to be a turning point for Europe's auto industry.

Persons: Julian Stratenschulte, Rico Luman, Robert Habeck, Luman, Chancellor Olaf Scholz, Germany's, Sigrid de Vries, de Vries, ACEA's de Vries, Porte, Stephane Mouchmouche, John Cooper, Julia Poliscanova, Poliscanova Organizations: VW, Getty, Volkswagen, Mercedes, Benz Group, BMW, Union, ICE, ING, CNBC, Federal, Economic Affairs, Emden ., EVs, Reuters, European Automobile Manufacturers ' Association, Paris, Automotive Summit, Porte de, Afp, John Cooper Works Electric, Transport, Environment Locations: Wolfsburg, Germany, China, Emden, German, Berlin, Europe, France, automaking, Paris

☆ An analyst is getting cautious on Meta ahead of earnings. The reason is not a surprise
▼ + stars: | 2024-10-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Shares of Meta Platforms are hovering near record highs — but at least one Wall Street analyst is on edge heading into the social-media giants earnings report later this month. "[We] believe buyside expectations for a clean beat and raise quarter have minimal margin of error," Roth MKM wrote. Another reason: Roth MKM believes Temu and Shein are seeing declining importance in using Facebook and Instagram to acquire customers through ads. META YTD mountain Meta Platforms' stock performance so far in 2024. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Roth MKM, Roth, Shein, they've, Jim Cramer's, Jim Cramer, Jim, Porte, Julien De Rosa Organizations: Facebook, Temu, Meta, CNBC, Porte de, Afp, Getty Locations: Asia, Pacific, China, Temu, Europe, Paris

In this article META Follow your favorite stocks CREATE FREE ACCOUNTA logo of US company's Meta is displayed during the Vivatech technology startups and innovation fair, at the Porte de Versailles exhibition center in Paris, on May 22, 2024. It also accuses the company of retaliation after it allegedly sidelined Napoli and took him off big projects when he raised concerns that the person had been rehired. Before the layoffs, G.F. and Napoli occasionally saw each other in meetings but were no more than "work acquaintances," Napoli said. But just four months later, the company hired G.F. back to a contractor position after he apparently slipped through the cracks in the hiring process, the lawsuit says. Napoli learned his accused stalker was back at Meta when G.F.'s name popped up on Workplace, the company's internal messaging system.

Persons: Porte, Julien De Rosa, James Napoli, Napoli, Mark Zuckerberg, Carrie Goldberg, Peter Romer, Friedman, Meta, it's, Meta didn't, G.F, Luigi, he'd Organizations: Porte de, Afp, Getty, Meta, New York Supreme, Meta's New, CNBC, Facebook, Napoli Locations: Paris, New York, New, Napoli, Meta's, Meta's New York City

☆ Elon Musk says voting by mail is ‘insane’ — but he has done it himself, records show
▼ + stars: | 2024-08-30 | by ( David Ingram | ) www.cnbc.com time to read: +7 min

Elon Musk has attacked voting by mail as an "insane" idea that encourages election fraud, but he voted by mail twice when he lived in California, according to records of his voting history obtained by NBC News. Musk voted by mail in November 2016, the year Donald Trump defeated Hillary Clinton, and in the November 2018 midterm election, the records show. The state records show that Musk had a sparse history of voting in California. This is the first time Musk's California voting records have been made public. Voting by mail was the choice of a majority of California voters both times Musk voted.

Persons: Elon Musk, Tesla, Porte, Musk, Donald Trump, Hillary Clinton, Barack Obama, John McCain, Mitt Romney, It's, Trump, Trump's, Kamala Harris, Clinton, Joe Biden Organizations: Viva Technology, Porte de, NBC News, NBC, Social, PAC, America PAC, Daily, SpaceX, Business, Tesla, White House Locations: Paris, France, California, Los Angeles, U.S, Texas, USA, North Carolina, Wisconsin, America, Brownsville , Texas, Austin, Florida

☆ Bitcoin rally helps create more than 84,000 new crypto millionaires in a year
▼ + stars: | 2024-08-27 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

In this photo illustration, a visual representation of the digital Cryptocurrency, Bitcoin is on display in Paris, France, on March 5, 2024. Chesnot | Getty Images News | Getty ImagesThe population of crypto millionaires in the world soared 95% over the past year, as bitcoin ETFs and other crypto assets climbed, according to a new report. There are now 172,300 individuals worldwide holding over $1 million in crypto assets, up from 88,200 last year, according to a report from New World Wealth and Henley & Partners. There are now 325 crypto centi-millionaires (those with $100 million or more in crypto holdings), and 28 crypto billionaires, according to the report. As other coins have increased in value, the market cap of crypto assets has increased to $2.3 trillion, according to Henley, up from $1.2 trillion last summer.

Persons: Robert Frank, bitcoin, Andrew Amoils, Zhao, Changpeng Zhao, Binance, Benoit Tessier Organizations: Chesnot, Getty, Wealth, Henley & Partners, Forbes, Viva Technology, Porte de Locations: Paris, France, Henley, U.S, Porte

☆ Proposals at the Olympics draw criticism of overshadowing women athletes' accomplishments
▼ + stars: | 2024-08-05 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

Viewers have had mixed reactions to athletes who have gotten engaged during the Paris Games. While some feel that the grand gesture makes Olympians’ big moments even bigger, others say that the proposals steal the spotlight from female athletes in particular. A Chinese social media site even jokingly shared a post featuring an added engagement ring column alongside the medal counter. But proposals done just after a monumental win have drawn some of the most scrutiny from some fans. And many social media users came to the couple’s defense, arguing that the proposal took place after the medal ceremony.

Persons: Liu Yuchen, Huang Yaqiong, Sarah Steyaert, Picon, Pablo Simonet, Maria Campoy, Sydney Colson, ”, didn’t, Huang, Steyaert, ” Steyaert, Qin Kai, Zi, Michael Phelps, Sunny Singh Organizations: Paris Games, Argentine, Team Argentina, Games, WNBA, Las Vegas Aces, La Chapelle, BBC, NBC Asian Locations: French, Porte, Rio de Janeiro, Brazil, NBC Asian America

☆ Meta’s Reality Labs posts $4.5 billion loss in second quarter
▼ + stars: | 2024-07-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

A visitor wears a virtual reality headset Meta Quest as he takes part in an immersive experience stand during the Viva Technology show at Parc des Expositions Porte de Versailles on May 24, 2024 in Paris, France. As part of the company's second-quarter earnings report on Wednesday, Meta's Reality Labs unit, which houses augmented and virtual reality technologies, recorded an operating loss of $4.48 billion. In September, Meta debuted the Quest 3 VR headset, which has a starting price of $499. Zuckerberg has pointed to advances in artificial intelligence and related large language models as improving the capabilities of smart glasses. Meta's second generation of smart glasses went on sale in October with a starting price of $299.

Persons: Porte de Versailles, StreetAccount, Mark, Meta, Ray, Ban, Zuckerberg, Francesco Milleri Organizations: Viva Technology, Parc, Labs, Reality Labs, Apple, CNBC, Meta Locations: Paris, France, China

☆ Elon Musk’s transgender daughter, in first interview, says he berated her for being queer as a child
▼ + stars: | 2024-07-25 | by ( David Ingram | ) www.cnbc.com time to read: +10 min

Vivian Jenna Wilson, the transgender daughter of Elon Musk, said Thursday in her first public interview that he was an absent father who was cruel to her as a child for being queer and feminine. Wilson, 20, in an exclusive interview with NBC News, responded to comments that Musk made Monday about her and her transgender identity. She told NBC News that at the time, she was surprised by the media attention to the court filing, which she submitted when she was 18. Wilson told NBC News that those anecdotes are not true, though she said she did act stereotypically feminine in other ways as a child. Musk told Peterson that Wilson's gender transition has been the motivation for his push into conservative politics.

Persons: Elon Musk, Porte, Vivian Jenna Wilson, Wilson, Musk, I'm, Musk's, Justine Musk, He's, Donald Trump, Jordan Peterson, Peterson, Walter Isaacson —, Christiana Musk, she's, Jenna, Isaacson, Wilson —, Let's, they'll, — CNBC's Lora Kolodny Organizations: SpaceX, Tesla, Viva Technology, Porte de, NBC News, NBC Locations: Paris, Los Angeles, Tesla, California

☆ Paris 2024 venues: Where every sport is being held at the Olympic Games
▼ + stars: | 2024-07-22 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +9 min

The Olympic Games are coming to the French capital and homes have been found for all 32 sporting disciplines. Breaking, the newest Olympic sport, will take place at La Concorde and will share the area with 3x3 basketball, skateboarding and freestyle BMX. It will become the Olympic Stadium for the duration of the Games, welcoming track and field (athletics) and rugby sevens. Olympic tennis will naturally take place here, but its centerpiece – Court Philippe Chatrier – will also play host to boxing bouts. Emmanuel Dunand/AFP/Getty ImagesSoccer will cover the most ground of any sport at the Games, with matches being held in seven different stadiums across the country.

Persons: CNN —, Catherine Steenkeste, de Mars, Sarah Meyssonnier, Napoleon Bonaparte, Stade Roland Garros, Philippe Chatrier –, Philippe, Chatrier, Emmanuel Dunand, Germain, Sean M, Blanc Marina, Pierre Mauroy, Pont Alexandre III, Anne, Christine Poujoulat, Yves du, de, Boris Horvat, Geoffroy, Guichard, Stade, Pascal Le Segretain Organizations: CNN, Olympic Games, Aquatics Center, Nations, Eiffel, Reuters, des, Concorde, La Concorde, Chesnot, Getty, Stade de France, UEFA Champions League, Games, Southwest, Stade, Parc des Princes, Paris Saint, Paris, Marseille, Stade Vélodrome, Princes, Aquatics, Chapelle, North Paris Arena, Stade Roland, Palais, Yves du Manoir, South Paris, de Mars, La Chapelle, Nautical, Rugby, Marseille Marina Sailors, Concorde Soccer, Bordeaux, Nice, Parc de Princes Sport, Le, La, Tennis, Garros, Pont Alexandre III Volleyball, Water, Paris La Défense, Wrestling Locations: Paris, France, – Paris, Seine, Versailles, des Invalides, ”, Light, AFP, Parc des, Tahiti, Polynesia, Marseille, Blanc, Bordeaux, Saint, Lyon, Nantes, Nice, Lille, Yvelines, de Versailles, Parc, Le Bourget

☆ The best-funded generative AI startups in Europe have something in common: Big Tech experience
▼ + stars: | 2024-06-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

That figure rose to more than a third (38%) for the top 40 European and Israeli generative AI companies in terms of venture funding raised, and 60% for the top 10 generative AI companies for funding levels. Google bought British AI lab DeepMind in 2014, and the firm's tech is now key to AI products including its Gemini generative AI tools. Many AI founders are professors, tooAccel noted universities play a major role in the creation of generative AI startups. British universities are the most popular study destination for generative AI founders, Accel's research found. France's Ecole Polytechnique is the second-highest academic founder factory in Europe, with 7% of generative AI founders having studied there.

Persons: Arthur Mensch, Porte de Versailles, Dealroom, Harry Nelis, Europe's, Nelis, Timothee Lacroix, Guillaume Lample, Laurent Sifre, Karl Tuyls, Charles Kantor, Mistral, Accel, —, Lourdes Agapito, Agapito, Matthias Niessner, Victor Riparbelli, Steffen Tjerrild Organizations: Viva Technology, Parc, Chesnot, Getty, Accel, Apple, Google, Microsoft, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Facebook, Research, Meta, Amazon, Stanford University, British, University College London, UCL, University of Cambridge, France's Ecole Polytechnique Locations: Paris, France, Europe, Israel, Israeli, Alpha Germany, United Kingdom, British, London, France's

☆ CNBC Daily Open: Nasdaq record, Tesla future value?
▼ + stars: | 2024-06-17 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Alain Jocard | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This valuation, however, wouldn't be based on Tesla's success as an electric vehicle manufacturer, but rather as a robotics company. While Musk didn't provide a specific timeframe for this claim, he also suggested Tesla could reach a $5 trillion to $7 trillion valuation as a robotaxi company. In 2020, Tesla's worth even surpassed the combined value of Toyota, Volkswagen, Hyundai, GM, Ford and BMW.

Persons: Elon Musk, Porte, Alain Jocard, Elon, Tesla, Cathie Wood, Wood, CNBC's, Dan Ives, Chris Ailman, Ailman, CNBC's Michael Santoli, Jeff Cox, Michael Santoli, Jordan Novet, Katie Bartlett, Pia Singh, Riley de León, Spencer Kimball, Lisa Kailai Han, Brian Evans Organizations: SpaceX, Twitter, Porte de, AFP, Getty, CNBC, Toyota, Volkswagen, Hyundai, GM, Ford, BMW, California State Teachers, Nvidia, & $ Locations: Paris, Tesla

☆ Microsoft-backed Mistral AI raises $645 million at a $6 billion valuation
▼ + stars: | 2024-06-12 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

French founder of artificial intelligence startup Mistral AI, Arthur Mensch, attends the Viva Technology show at Parc des Expositions Porte de Versailles in Paris, France, on May 22, 2024. Mistral AI did not give much detail about the round, but the Financial Times reported that venture capital firm General Catalyst led the round that also included existing investors. Mistral AI, a French tech startup, raised a funding round of 600 million euros, or $645 million, as huge amounts of money continues to pour into the artificial intelligence race. Mistral AI is building so-called large language models, which underpin applications such as chatbots popularized by ChatGPT. In February, Microsoft announced an investment in Mistral AI.

Persons: Arthur Mensch, Porte de Versailles, Catalyst, ChatGPT, Mensch Organizations: Viva Technology, Parc, Mistral, Financial Times, CNBC, Nvidia, Microsoft, Google Locations: Paris, France, European, U.S

☆ California pension fund opposes 'ridiculous' Elon Musk pay package at Tesla
▼ + stars: | 2024-06-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

This pay package is ridiculous," Ailman said on " Squawk on the Street ." The vote this week is to effectively reinstate a 2018 pay package that was struck down by a judge in January. California State Teachers' Retirement System Chief Investment Officer Chris Ailman said the fund opposed the pay package previously and will do so again. The head of a massive California pension fund told CNBC on Monday that he is voting against the revised pay package for Tesla CEO Elon Musk. The billionaire has indicated that he might focus more on his other projects if the Tesla pay package is rejected.

Persons: Elon Musk, Tesla, Porte, Ailman, Chris Ailman, CalSTRS, Musk Organizations: Viva Technology, Porte de, California State Teachers, CNBC, Tesla, SpaceX Locations: Paris, France, California, Tesla, Texas

☆ France is aiming to become a global AI superpower — but not without help from U.S. Big Tech
▼ + stars: | 2024-05-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

AI everywhere at Viva TechAt Viva Tech, AI was everywhere. France boasts a strong AI research and development ecosystem, home to key facilities like the Facebook AI Research center from Meta and Google's AI research hub in Paris, as well as leading universities. He referred to H's mammoth funding round as an example of the momentum surrounding French AI right now. watch nowLevy said roughly 40% of the tech demos at Viva Tech were AI. He said that Google's recently introduced Gemma AI, a lightweight, open-source model, was developed heavily at the U.S. internet giant's Paris AI hub.

Persons: Emmanuel Macron, Yoan Valat, Eric Schmidt, Porte, Bruno Le Maire, CNBC's Arjun Kharpal, Le Maire, Etienne Grass, Capgemini, Imran Ghory, Ghory, CNBC's Andrew Ross Sorkin, Macron, Mistral, Yann LeCun, James Manyika, Google's, Maurice Levy, Karen Tso, Levy, Google's Manyika, Gemma AI Organizations: Afp, Getty, PARIS —, Viva Technology, Microsoft, Viva Tech, L'Oreal, Porte de, Facebook, CNBC, Blossom, Meta, Google, Paris, Groupe, U.S, Innovation Locations: Elysee, Paris, France, PARIS — France, China, Europe, Meta, French, U.S, Israel, Dealroom

☆ AI cancer screening programs are booming, but you'll likely have to pay for them yourself
▼ + stars: | 2024-05-30 | by ( Bertha Coombs | ) www.cnbc.com time to read: +6 min

watch nowArtificial intelligence for cancer screening has taken off. So, it is quite a challenge," said Brittany Berry-Pusey, CEO of AI screening startup Avenda Health. Nearly 600 of them have been radiology AI applications approved in the last five years. Thorwarth wrote that AI reimbursement is complex and establishing billing codes for every approved AI tool is "problematic." RadNet's executives compare the process with AI screening to the radiology industry's experience with digital breast Tomosynthesis, known as 3D mammography.

Persons: Brittany Berry, Pusey, Porte, Julien De Rosa, Berry, William Thorwarth, Thorwarth, mammography, Rodrigo Cerda, Cerda, RadNet, Greg Sorensen, RadNet's, Sorensen Organizations: FDA, Food and Drug Administration, Porte de, Afp, Getty, American Medical Association, American College of Radiology, Centers, Medicare, Medicaid Services, CNBC, Artificial Intelligence, Blue Cross Locations: Paris, New Jersey

☆ CEOs of AI startups backed by Microsoft and Amazon are the new tech rockstars
▼ + stars: | 2024-05-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

French founder of artificial intelligence start-up Mistral AI, Arthur Mensch attends the Viva Technology show at Parc des Expositions Porte de Versailles on May 22, 2024 in Paris, France. PARIS — It's not unusual for well-known technology CEOs to be mobbed by fans or start-up founders looking to make connections at industry conferences around the world. VivaTech, one of Europe's biggest tech shows, enjoyed the attendance of Arthur Mensch, the co-founder and CEO of Mistral AI and Anthropic CEO Dario Amodei. Just over a year old, Mistral AI is a French startup that has raised hundreds of millions of dollars and the backing of Microsoft . The astronomical rise of Mistral AI, which develops AI models much like OpenAI, has put the spotlight on its CEO Mensch.

Persons: Arthur Mensch, Porte de Versailles, PARIS —, Dario Amodei, Mensch Organizations: Viva Technology, Parc, PARIS, Mistral, Microsoft Locations: Paris, France, French

☆ Elon Musk predicts smarter-than-humans AI in 2 years. The CEO of China's Baidu says it's 10 years away
▼ + stars: | 2024-05-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Chesnot | Getty ImagesPARIS — Robin Li, CEO of one of China's biggest tech firms Baidu , said artificial intelligence that is smarter than humans is more than 10 years away, even as industry staple Elon Musk predicts it will emerge very soon. Artificial general intelligence, or AGI, broadly relates to AI that is as smart or smarter than humans. Li, whose company Baidu is one of China's leading AI players, signals this isn't realistic. I think [it] is more than 10 years away," Li said during a talk on Wednesday at the VivaTech conference in Paris. "[My] fear is that is that AI technology is not improving fast enough.

Persons: Robin Li, Porte de Versailles, Musk, AGI, Sam Altman, Li, it's, Everyone's Organizations: Baidu, Viva Technology, Parc, Getty, PARIS, Elon Locations: Paris, France, Europe

☆ Musk makes surprise visit to Beijing as Tesla's China-made cars pass data security rules
▼ + stars: | 2024-04-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Local Chinese authorities have removed restrictions on Tesla cars after the company's China-made vehicles passed the country's data security requirements, the automaker said Sunday. Although Tesla's electric cars are some of the most popular vehicles in China, they have reportedly been banned from some government-related properties due to concerns about what data the U.S.-based automaker can collect. Tesla's press release did not specify which local authorities had removed restrictions on the cars. The Biden administration earlier this year announced a probe into whether imported cars from China pose national security risks due to their ability to potentially collect data about the U.S. and send it back to China. Tesla's vehicles were not the only ones that passed the data security rules.

Persons: Elon Musk, Tesla, Porte, Premier Li Qiang, Biden, Li Auto, Nio Organizations: Twitter, Viva Technology, Porte de, BEIJING — Local, Premier, Tesla's, China Association of Automobile Manufacturers, National Computer Network, Coordination Center of China Locations: Paris, France, BEIJING, China, Beijing

☆ Supreme Court rejects Elon Musk over agreement with SEC to vet social media posts
▼ + stars: | 2024-04-29 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +2 min

He has long been an impulsive user of Twitter, now renamed X. Musk acquired the social media company in 2022. As part of that agreement, he signed off on the social media provision. His lawyers say in court papers that the SEC has waged an "ongoing campaign" against Musk. The provision "restricts Mr. Musk's speech even when truthful and accurate. The SEC responded in court papers that Musk had waived his right to bringing his argument when he signed off on the settlement.

Persons: Elon Musk, Tesla, Porte, WASHINGTON —, Elon Musk's, Musk Organizations: Twitter, Viva Technology, Porte de, WASHINGTON, Securities and Exchange Commission, New, Circuit, Appeals, SEC, Tesla Locations: Paris, France, New York

☆ U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022. U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday. The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to "reflect the gravity of his crimes." Under advisory guidelines, Zhao's sentencing would come in at a range of 12 to 18 months in prison. "A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing," U.S. prosecutors said.

Persons: Changpeng Zhao, Zhao, —, Binance Organizations: Viva Technology, Porte de, U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission Locations: Porte, Paris, Washington, U.S

☆ Don't bet against Zuckerberg: Meta's earnings-driven stock slide is an opportunity
▼ + stars: | 2024-04-24 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

META YTD mountain Meta Platforms YTD We obviously don't like what we are seeing after hours in the stock. While expecting a similar dynamic to play out now with AI investments, Zuckerberg fully expects the end result to be similar as the team scales its offerings and then begins to monetize the investments. Regarding shareholder returns, the company repurchased $14.6 billion worth of stock during the quarter while returning another $1.3 billion via dividends. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The logo of the U.S. company created by Mark Zuckerberg, Meta is displayed during the Viva Technology conference at Parc des Expositions Porte de Versailles on June 15, 2023 in Paris, France.

Persons: That's, Mark Zuckerberg, we'll, Zuckerberg, China's ByteDance, we've, we're, it's, ChatGPT, Jim Cramer, Joe Biden, Jim, Jim Cramer's, Porte de Versailles Organizations: Revenue, LSEG, Zuckerberg, China's, Meta, Microsoft, Electric, Realty Labs, Daily, People, CNBC, U.S ., Viva Technology, Parc, Chesnot, Getty Locations: U.S, Asia, Pacific, Paris, France

☆ Philippines orders removal of Binance from Google and Apple app stores
▼ + stars: | 2024-04-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The Philippines' Securities and Exchange Commission (SEC) has ordered Google and Apple to remove cryptocurrency exchange Binance from their app stores. In a press release out on Tuesday, the regulator said it had sent letters to Google and Apple requesting the removal of applications controlled by Binance from the Google Play Store and Apple App Store, respectively. The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker, adding that this violates the country's securities laws. Binance, Google, and Apple were not immediately available for comment when contacted by CNBC. Aquino said that blocking Binance from the Google and Apple app stores would help "prevent the further proliferation of its illegal activities in the country, and to protect the investing public from its detrimental effects on our economy."

Persons: Zhao Changpeng, Binance, Emilio Aquino, Aquino Organizations: Viva Technology, Porte de, Securities and Exchange Commission, SEC, Google, Apple, Binance, CNBC Locations: Porte, Paris, France, Philippines, Philippine

☆ Elon Musk says in email that Tesla sent 'incorrectly low' severance packages to some laid-off employees
▼ + stars: | 2024-04-17 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +2 min

Tesla CEO Elon Musk sent an internal email on Wednesday, telling staffers that the company sent out some severance packages that were too low to a number of laid-off workers this week. "As we reorganize Tesla it has come to my attention that some severance packages are incorrectly low," Musk wrote in the brief email. His earlier CEO pay plan, worth $56 billion, was voided in a ruling by Delaware chancery court judge Kathaleen McCormick, who decided that, as CEO, Musk controlled Tesla, and the board's compensation committee wasn't independent, among other factors. Tesla shares have dropped about 37% this year as of Wednesday, closing at $155.45. WATCH: This is a 'fork in the road' period for Musk and Tesla

Persons: Elon Musk, Porte, Musk, Tesla, Kathaleen McCormick Organizations: Twitter, Viva Technology, Porte de, Reuters Locations: Paris, France, Delaware

☆ Elon Musk says Tesla will unveil its robotaxi on Aug. 8; shares pop
▼ + stars: | 2024-04-05 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Elon Musk, Chief Executive Officer of Tesla and owner of X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023. Musk shared the reveal date on Friday after Reuters reported that plans for Tesla's highly anticipated low-cost car model had been scrapped. In 2015, Elon Musk told shareholders that Tesla's cars would achieve "full autonomy" within three years. Tesla still has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into "level 3" automated vehicles. On Friday, Apple shuttered its self-driving unit and laid off about 600 people on Friday who had been associated with the project.

Persons: Elon Musk, Porte, Tesla, Musk, FSD, Waymo, Uber, Cruise's, Leswing Organizations: Twitter, Viva Technology, Porte de, Reuters, Tesla, Companies, Wayve, Apple, Cruise Locations: Paris, France, Phoenix, San Francisco, Los Angeles, Austin , Texas, Arizona, China, Guangzhou, U.S

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