DIRS.INFO The most relevant business & tech news

☆ 3-Stock Lunch: Apple, Amazon and Tesla
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: Apple, Amazon and TeslaQuint Tatro, Joule Financial founder, joins 'Power Lunch' to discuss stock plays for three stocks.

Persons: Tesla Quint Tatro Organizations: Joule Financial

☆ Luxury European automakers are getting crushed in China
▼ + stars: | 2024-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

AdvertisementThe days of European carmakers dominating China's luxury vehicle market are over. A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers. AdvertisementHard to quitDespite a challenging environment, Western premium automakers can ill afford to give up on China. As well as increased competition, European automakers face a geopolitical headache. AdvertisementTim Urquhart, principal automotive analyst at S&P Global Mobility, told BI the European Union's tariffs on Chinese automakers meant Beijing could impose levies on European car imports in retaliation.

Persons: —, Aston Martin, James Bond, Chris Brownridge, BYD, Lutz Meschke, Max, Xiaomi, Steve Dyer, Dyer, AlixPartners, Mercedes, GAO, China's, Tim Urquhart, Urquhart Organizations: BMW, Mercedes, Benz, Porsche, Service, upstarts, Volkswagen, Royce, British, Bloomberg, Reuters, Getty, P Global Mobility Locations: China, British, London, Korea, Western Europe, Beijing

☆ Wealth manager for the super-rich names 3 stocks to buy before the year-end
▼ + stars: | 2024-11-01 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Equity markets rallied this year, as investors remained bullish on Big Tech but also scooped up shares in under-the-radar companies. Year-to-date, shares in Exxon have gained 16.7%, while the stock of Barrick and Microsoft have gained around 10.8% and 15% respectively. Microsoft Teng remains bullish on Microsoft, despite Wrise making a "partial switch" and reducing its weight in the tech giant while increasing allocations to Nvidia in early August. Microsoft and and Nvidia are among the so-called Magnificent Seven stocks, which also include Alphabet , Amazon , Apple , Meta Platforms and Tesla . Nike Athletic footwear and apparel label Nike is another stock that Teng likes, despite bearish sentiments in Wall Street.

Persons: Kevin Teng, —, Barrick, Barrick Gold Teng, Microsoft Teng, Teng, OpenAI, AlixPartners, Walt Disney, Mickey Mouse Organizations: Big Tech, CNBC Pro, Wrise Private Singapore, Microsoft, behemoth Exxon Mobil, Barrick Gold, Exxon, Barrick, Exxon Mobil, Nvidia, Apple, Tesla, Nike Athletic, Nike, Disney, Marvel Studios, Disney Plus, 4Q, Pixar Animation Studios Locations: Asia, East, Europe, Wall Street

☆ 5 reasons BYD is surging ahead after eclipsing Tesla's quarterly sales for the first time
▼ + stars: | 2024-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

The Chinese EV giant said in its third-quarter earnings on Wednesday it had surpassed Tesla's revenues from EV sales for the first time. Executives have said they want half of BYD's sales to come from abroad in the future. Unlike its rival, Tesla, BYD also offers a selection of hybrid vehicles, which are popular in China. Some 311,000 of the 500,000 passenger vehicles BYD sold in October were hybrids, with hybrid sales rising by 62% year-on-year. JADE GAO/AFP via Getty ImagesBYD has sold nearly two million hybrid vehicles this year.

Persons: BYD, Elon Musk, —, Tesla, Elon, GAO, Dylan Khoo, Stella Li, MotorTrend, Axel Schmidt, David Bailey Organizations: EV, Service, BYD, Getty, Mercedes, BMW, China, ABI Research, University of Birmingham Locations: China, Costfoto, Mexico, Brazil, Americas

☆ How Elon Musk turned X into a pro-Trump echo chamber
▼ + stars: | 2024-10-31 | by ( David Ingram | David Ingram Is A Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +7 min

And in recent months, Musk has become one of Trump’s biggest donors and most energetic supporters, turning X into an unofficial house organ for his campaign. On Tuesday, Musk promoted an X Community — a large group of users — called the Election Integrity Community, which was created by his super PAC, America PAC. Musk and X did not respond to requests for comment. Musk has personally boosted many of them, such as @libsoftiktok and the account of conspiracy theorist Laura Loomer, who was suspended from Twitter before Musk bought it. Musk is the CEO of Tesla and SpaceX, but X may be his highest-profile political asset.

Persons: Elon Musk, ” Musk, hasn’t, Donald Trump’s, Trump, Musk, Kamala Harris, —, ”, Giulio Corsi, Paul Pelosi, Nancy Pelosi, Weeks, Ron DeSantis, Robert F, Kennedy Jr, misgendering, it’s, newsbrokers, Laura Loomer, Mert Bayar, Corsi, ” Corsi Organizations: Elon, Twitter, NBC News, PAC, America PAC, U.S, University of Cambridge, Trump, Republican, Florida Gov, GOP, University of Washington, UW Center, SpaceX Locations: Pennsylvania, Haiti

☆ Marc Andreessen says US carmakers need to make a $20,000 EV if they don't want to 'lose the auto industry' to China
▼ + stars: | 2024-10-31 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Investors Marc Andreessen and Ben Horowitz said Chinese EVs are beating out American and European automakers. Andreessen Horowitz founders Marc Andreessen and Ben Horowitz said on their podcast that Chinese automakers have developed high-quality and affordable vehicles supported by a robust supply chain ecosystem. With the American auto industry struggling with slowing growth in its EV market, American automakers need to be able to offer a compelling $20,000 EV that also competes on quality if the US doesn't want to "lose the auto industry," Andreessen said. Andreessen said that Chinese car brands are outperforming American EV automakers in affordability and quality, calling them "super technologically sophisticated." AdvertisementTo keep up, American automakers need to be able to offer a similarly affordable and full-featured car at the $20,000 price point, Andreessen said.

Persons: Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Xiaomi's, —, It's, Andreessen, they've, Horowitz, Jim Farley, " Horowitz, Elon Musk, Tesla, Musk, Xiaomi Organizations: Service, Centre, Strategic & International Studies, Ford, Porsche, Porsche Cayenne, American EV, Elon, Nissan Locations: China, Mexico, Dubai, American

☆ Elon Musk seeks to move $1 million voter lottery lawsuit to federal court
▼ + stars: | 2024-10-31 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Elon Musk and his political action committee are seeking to move the Philadelphia District Attorney's lawsuit targeting their $1 million swing state voter daily lottery to federal court from a state-level court. It is not clear what will happen at the hearing, given the notice of removal in federal court. As a rule, federal law bars a state court proceeding from taking place if a party in the case has filed a notice of removal to federal court and a copy of that notice is filed with the state court. The notice filed in federal court by lawyers for Musk and his America PAC argue that because that PAC is registered as a federal entity, it is not subject to state law. Krasner's lawsuit, which claims Musk's $1 million giveaway is an illegal, unregulated lottery, was filed in Court of Common Pleas on Monday.

Persons: Elon Musk, Dave McCormick, Larry Krasner's, Musk, Krasner's Organizations: SpaceX, Tesla, Republican, U.S, Elon, Philadelphia District, Musk, America PAC, Philadelphia Locations: Pittsburgh , Pennsylvania, Pennsylvania

☆ Mark Zuckerberg flexes that Meta's cluster of Nvidia H100 chips is bigger than the competition
▼ + stars: | 2024-10-31 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg says Meta's Llama 4 AI models are training on the biggest GPU cluster in the industry. During Meta's earnings call, he said the cluster is "bigger than 100,000 H100s." A lot of computing power is going into training Meta's forthcoming Llama 4 AI models — more than anything currently offered by the competition, according to Zuckerberg. Zuckerberg added in the earnings call Wednesday that Meta's Llama 4 models will have "new modalities, capabilities, stronger reasoning" and be "much faster." Meanwhile, Musk tweeted earlier this week that xAI will soon double its cluster size in the coming months to 200,000 H100 and H200 chips.

Persons: Mark Zuckerberg, Elon Musk, —, Mark Zuckerberg's, Zuckerberg, I've, Hopper, Aravind Srinivas, Srinivas, didn't, Musk, xAI Organizations: Service, Nvidia, Meta Locations: Meta

☆ Big Tech's vanishing perks have left employees to face a stark new reality
▼ + stars: | 2024-10-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Big Tech is pulling back on the freebies for its employees . The perks help recruit and retain talent and keep employees working at the office. Some Amazon employees aren't buying it. It's not all bad news for Amazon employees, though. Some Amazon employees support Jeff Bezos' controversial WaPo decision.

Persons: —, David Arky, Tyler Le, Insider's Lara O'Reilly, Rob Price, Hugh Langley, Sydney Bradley, It's, Matt Garman, Frederic J . BROWN, BI's Jyoti Mann, Ashley Stewart, Garman, Stave Huffman, Spencer Platt, Natalie Ammari, Tesla, Meta, Jenny Chang, Rodriguez, Harris, Trump, you'll, Jeff Bezos, Bezos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Microsoft, SEC, Big Tech, Meta, Citibank, Tech, Services, Getty, Amazon Web Services, Amazon, BI, Google, Semiconductor, Intel, Washington Post, Apple Locations: OpenAI, AFP, New York, London

☆ The New Jersey Democrat running against Elon Musk
▼ + stars: | 2024-10-31 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Democrat Sue Altman is running against Rep. Tom Kean Jr. in a competitive House race in New Jersey. But she's also running against Elon Musk, whose super PAC has spent over $1.5 million in her race. "Billionaires like Elon Musk," Altman said during the debate, are "funding my opponent's campaign." Advertisement"And by the way, Elon Musk is really creepy," she added, referencing a recent post in which Musk offered to give Taylor Swift "a child" after the pop star endorsed Harris. "I wouldn't let my best friend date Elon Musk, let alone let him buy our elections."

Persons: Sue Altman, Tom Kean Jr, she's, Elon Musk, Altman, —, Tom Kean, Elon, Kean, cain, Donald Trump, Tom Kean , Jr, Trump, — Sue Altman, She's, Kean —, he's, Musk, who's, Musk's largesse, Kamala Harris, Mondaire Jones, Mike Lawler, Will Rollins, Ken Calvert, Volodymyr Tarasov, Sen, John Fetterman of, Tony Stark, Koch, Harris, Joe Biden, Taylor Swift Organizations: Elon, Service, Democratic, Elon Musk's, GOP, America PAC, PAC, New, Families Alliance, Trump, Democratic Rep, Republican, Republican Rep, Publishing, Getty, SpaceX, Democrats, NBC News Locations: New Jersey, New Jersey's, Pennsylvania, York's, California's, John Fetterman of Pennsylvania, Scranton

☆ Musk tries to move case about $1 million voter sweepstakes to federal court, averting required appearance Thursday
▼ + stars: | 2024-10-31 | by ( Marshall Cohen | ) edition.cnn.com time to read: +6 min

Philadelphia CNN —Tech billionaire and Trump ally Elon Musk is trying to move a lawsuit over his $1 million giveaway to voters into federal court, short-circuiting a required appearance Thursday at a Pennsylvania court. Lawyers for the Tesla CEO filed a “motion of removal” in federal court late Wednesday night. The parties will now continue pressing their case in federal court. Foglietta said he’s available later Thursday or Friday if the federal judge sends the case back to state court. Musk endorsed Trump in July and has donated $118 million to his super PAC.

Persons: Trump, Elon Musk, Angelo Foglietta, Foglietta, Larry Krasner, Musk, Musk’s, ” –, Harris, CNN John Summers, “, “ Brazenly, ” Summers, ”, Krasner, ” Musk, Matthew Haverstick, Summers, Haverstick, ” Haverstick, “ Rather, ’, Derek Muller, ” Muller, –, Josh Shapiro Organizations: Philadelphia CNN — Tech, Trump, PAC, America PAC, Republicans, CNN, SpaceX, Notre Dame Law School, Pennsylvania, Democrat, Justice Department Locations: Pennsylvania, Philadelphia

☆ The lack of tariffs on plug-in hybrid EVs in Europe adds momentum for BYD's sales: Analyst
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe lack of tariffs on plug-in hybrid EVs in Europe adds momentum for BYD's sales: AnalystTu Le of Sino Auto Insights says he expects "fireworks" between Tesla and BYD's competition in China and discusses the caveat in the European EV tariffs that benefits BYD.

Locations: Europe, China

☆ Tesla's self-driving mode is 'a bit stressful' to use, the cofounder of a robotaxi company backed by Amazon says
▼ + stars: | 2024-10-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

AdvertisementThe cofounder of Zoox, an Amazon-backed robotaxi company, said he sometimes feels nervous when using Tesla's so-called Full Self-Driving mode. FSD is a key piece of Tesla technology that will be critical for the company's fully autonomous vehicle and robotaxi visions. Levinson said part of the problem with Tesla's approach to autonomous driving is its reliance on cameras. Related storiesNot everyone is a skeptic of Tesla's autonomous driving vision. AdvertisementLike Waymo, Zoox uses a combination of LiDAR, radar, and cameras for its autonomous driving system.

Persons: Jesse Levinson, —, FSD, Tesla, Elon Musk, Levinson, Musk, Tesla's, it's, Andrej Karpathy, Karpathy, Zoox Organizations: TechCrunch, Service, Traffic, Administration, Waymo, PACE, Tesla, Las Locations: San Francisco, California, Texas, Market

☆ Inside 'Project Rodeo,' the Tesla effort pushing the limits of self-driving technology
▼ + stars: | 2024-10-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +16 min

Test drivers on Project Rodeo say they push the company's self-driving software to its limit. Business Insider spoke with nine current and former Project Rodeo test drivers and three Autopilot engineers in states including California, Texas, and Florida. Test drivers on Project Rodeo say they push the company's self-driving software to its limit. Tesla did not respond to a detailed list of questions about Project Rodeo and its self-driving technology. Paul Hennessy/SOPA Images/LightRocket/GettyTwo years later, test drivers were asked to train the system near pedestrians, test drivers said.

Persons: Elon Musk, Tesla, they're, Noah Berger, Missy Cummings, Cummings, Mark Rosekind, Patrick Pleul, Musk, Morgan Stanley, Adam Jonas, They're, FSD, John Bernal, Bernal, Paul Hennessy, Five, —, It's, Cruise, Mario Tama, Philip Koopman, Koopman, Alex Roy, Roy Organizations: Business, BI, Stanford University, National, Traffic Safety Administration, NHTSA, Drivers, Tesla, YouTube, Department of Transportation, San, Cruise, Carnegie Mellon University Locations: San Francisco, California , Texas, Florida, Texas, crosswalks, Cruise, Phoenix, Arizona, Los Angeles , California

☆ Chinese EV maker BYD's quarterly sales overtook Tesla's for the first time
▼ + stars: | 2024-10-31 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +2 min

Yves Herman | ReutersChinese electric vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time. On Wednesday, BYD reported revenue for the three months ended Sept. 30 of 201.12 billion yuan ($28.24 billion), up 24% from a year ago. That exceeded Tesla's revenue of $25.18 billion reported for the same period. At least half of BYD's sales are hybrid vehicles, whereas Tesla's vehicles are battery only. Likewise, Tesla remains on top in year-to-date sales, slightly edging out BYD's roughly $70.53 billion total revenue at $71.98 billion.

Persons: Yves Herman, BYD, Tesla, Elon Musk's Tesla Organizations: Reuters, behemoth, Elon, BYD's Seagull, EU, SAIC Motors Locations: China, Zeebrugge, Belgium, Beijing, Europe, Berlin, Hungary, Turkey

☆ Howard Lutnick: Trump transition team co-chair endorses Kennedy anti-vax theories and says he would be able to access health data
▼ + stars: | 2024-10-31 | by ( Shania Shelton | ) edition.cnn.com time to read: +4 min

Lutnick also said tech entrepreneur Elon Musk would “help” rather than serve in the government if Trump wins. Lutnick could hold serious sway over which prospective candidates get in front of Trump as they vie for key positions in the federal government. Kennedy on Monday told supporters that Trump has promised to give him sweeping power over multiple agencies if the former president wins the election. Trump has previously told CNN he would consider appointing Kennedy to a role in a potential second administration. Kennedy serves on Trump’s transition team and has been campaigning as a surrogate for him in key battleground states since exiting the presidential race.

Persons: Vance, Robert F, Kennedy Jr, Trump, Donald Trump, CNN’s Kaitlan Collins, ” Howard Lutnick, Kennedy, “, Lutnick, Elon Musk, ” Lutnick, “ Let’s, Bobby Kennedy’s, ” Kennedy, Collins, “ He’s, CNN’s Zachary B, Wolf, Aaron Pellish Organizations: CNN, Trump, Department of Health, Human Services, HHS, FDA, Monday, CDC, Centers, Disease Control, Food, Drug Administration, National Institutes of Health, USDA, Department of Agriculture, SpaceX, Tesla Locations: United States

☆ BlackRock launches ETF that expands beyond the 'Magnificent Seven'
▼ + stars: | 2024-10-31 | by ( Krysta Escobar | ) www.cnbc.com time to read: +1 min

BlackRock's iShares is trying to appeal to investors who want to diversify beyond from the so-called Magnificent Seven. The firm launched the iShares Top 20 U.S. Stocks ETF (TOPT) this month. It doesn't just hold the Magnificent Seven — Apple , Amazon , Meta , Alphabet , Microsoft , Nvidia and Tesla . It's made up of the 20 largest U.S. stocks by market capitalization. Aguirre, the firm's head of U.S. iShares product, noted the ETF's mission is to deliver an easy and accessible way to tap into the innovation of megacaps – "whether that be in the tech-heavy Nasdaq space or, more broadly, within the S&P [500]."

Persons: iShares, It's, BlackRock's Rachel Aguirre, CNBC's, Aguirre Organizations: Stocks, Microsoft, Nvidia, Tesla

“We have to reduce spending to live within our means,” Musk said. That gives Musk’s frankness about reductions — and his track record of making large, painful cuts at his own companies — added weight. The Trump campaign didn’t immediately comment but has previously said that the GOP agenda wouldn’t cause short-term economic hardship. There’s some skepticism on Wall Street that a new Trump administration could implement spending cuts on the scale Musk has proposed. “They’re both indicating they intend to maintain substantial deficits and elevated government spending, certainly compared with the strength of the economy,” Elliott said.

Persons: Donald Trump’s, Elon Musk, ” Musk, Trump, Musk, “, ”, didn’t, Kamala’s, Geoff Orazem, Bob Elliott, ” Elliott, Steve Sosnick Organizations: Republican, GOP, SpaceX, Trump, Social Security, Trump’s, CNBC, FedScout, Funds, Interactive Locations: U.S, Trump, “

☆ The E.U. is imposing duties on electric vehicles from China after trade talks fail
▼ + stars: | 2024-10-30 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

BRUSSELS, Belgium — The European Union is imposing duties on imports of electric vehicles from China starting Wednesday after talks between Brussels and Beijing failed to find an amicable solution to their trade dispute. According to the commission, which manages trade disputes on behalf of the 27 E.U. member countries, sales of Chinese-built electric cars jumped from 3.9% of the EV market in 2020 to 25% by September 2023, in part by unfairly undercutting E.U. Other EV manufacturers in China, including Western companies such as Volkswagen and BMW, would be subject to duties of 20.7%. The measures were published in the bloc’s legal Official Journal late Tuesday, meaning duties entered into force as of midnight, said E.U.

Persons: we’re, Valdis Dombrovskis, undercutting, ’, Hildegard Müller, VDA, ” Müller, E.U, Arianna Podesta Organizations: Trade Organization, SAIC, Geely, Volvo, Britain’s MG, EV, Volkswagen, BMW, China’s Commerce Locations: BRUSSELS, Belgium, China, Brussels, Beijing, Germany

☆ Chinese EV maker BYD’s revenue beats Tesla for first time
▼ + stars: | 2024-10-30 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Beijing (Reuters) — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. Net profit rose to 11.6 billion yuan ($1.63 billion) in the July-September quarter, the company said in a stock exchange filing. For the first nine months, net profit was up 18.1% to 25.2 billion yuan. With third-quarter revenue up 24% on year to 201.1 billion yuan ($28.24 billion), BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. Tesla still beat BYD in terms of EV sales globally during July to September.

Persons: BYD, Tesla, Morgan Stanley Organizations: Reuters, Local, BYD Locations: Beijing, China

☆ China 'does not agree or accept' the EU's EV tariffs, says negotiations are still ongoing
▼ + stars: | 2024-10-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The EU and China have reportedly agreed to start talks on the planned imposition of tariffs on Chinese-made EVs. China's commerce ministry said it "does not accept" tariffs imposed by the European Union on Chinese electric vehicles, after the bloc increased tariffs on Chinese EVs to as high as 45.3% on Wednesday. The commerce ministry said "China will continue to take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies." China's commerce ministry also highlighted the EU has indicated it will continue to negotiate with China, adding that both sides are conducting a new round of consultations. On Oct. 25, Reuters reported the two sides were looking at possible minimum price commitments from Chinese producers or investments in Europe as an alternative to tariffs.

Persons: Xpeng Organizations: European Union, SAIC Motor, EU, World Trade Organization, Reuters Locations: Taicang Port, Suzhou, China's, Jiangsu Province, EU, China, Europe

☆ Y Combinator cofounder Paul Graham lays out why he's voting for Kamala Harris
▼ + stars: | 2024-10-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Paul Graham urged moderate voters to vote for Kamala Harris, citing character over policy. Graham, a Y Combinator cofounder, contrasted Harris with former president Donald Trump. AdvertisementVeteran investor Paul Graham wrote an open letter saying undecided moderate voters should cast their ballot for Kamala Harris. On Tuesday, the Y Combinator cofounder and self-proclaimed moderate posted a statement on X where he laid out his reasons. Graham cofounded famed startup accelerator Y Combinator in 2005, which has been an incubator for companies like Dropbox, Airbnb, and Reddit.

Persons: Paul Graham, Kamala Harris, Graham, Harris, Donald Trump, Elon Musk, Mark Zuckerberg, —, Jeff Bezos, Bezos hasn't, Trump . Graham, Melinda French Gates, Mark Cuban, pic.twitter.com, ebBMbs1c7r — Paul Graham, Trump, Harris didn't Organizations: Leaders, Elon, Service, Washington, Amazon, Tesla, Trump ., Democratic, Business

☆ Elon Musk ordered to attend $1 million voter lottery suit hearing in Philadelphia court
▼ + stars: | 2024-10-30 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

The attorney asked the judge for an order that "requires attendance of all of the parties, i.e., DA Krasner, a representative of America PAC and Mr. "All parties must be present at the time of the hearing," the judge said in the order Wednesday. Krasner's lawsuit accuses Musk and America PAC of operating an illegal lottery and trying to influence voters in the presidential election between Vice President Kamala Harris and former President Donald Trump. Musk and America PAC are backing Trump, the Republican nominee. Musk and attorneys for him and his PAC did not immediately respond to a request for comment from CNBC.

Persons: Elon Musk, Donald Trump, Larry Krasner, Musk, Krasner, DA Krasner, Kamala Harris, Trump, CNBC's Lora Kolodny Organizations: Republican, Philadelphia District, America PAC, Musk, CNBC Locations: Butler , Pennsylvania, Philadelphia, Pennsylvania

☆ Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race
▼ + stars: | 2024-10-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +7 min

Experts told BI that all three companies face slumping EV sales and brutal competition in China. BMW and Mercedes-Benz have issued profit warnings in recent weeks amid slumping EV sales in Europe and brutal competition in China, while Volkswagen is also facing a reckoning. German carmakers are losing out to Chinese EV makers such as BYD. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and extended-range vehicles — categories that have proven extremely popular in China. Slow sales in EuropeAt the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.

Persons: —, Arno Antlitz, Mercedes, Hendrik Schmidt, Daniel Pier, Getty Images Helena Wisbert, Wisbert, Matthias Schmidt, Tesla, JENS SCHLUETER, that's Organizations: BMW, Mercedes, Benz, Service, Volkswagen, Wednesday VW, VW, dpa, China Passenger Car Association, Getty Images, Ostfalia University, Getty, European Union, Volkswagen Group, UBS Locations: Germany, China, Europe, North America, South America, China —, AFP

☆ Insana: Musk, Paulson seek sharp U.S. budget cuts. This ‘shock therapy’ isn’t likely to work
▼ + stars: | 2024-10-30 | by ( Ron Insana | ) www.cnbc.com time to read: +2 min

They have thrown economies into a tailspin, causing deep recessions and social upheaval. Elon Musk and hedge fund manager John Paulson are calling for cuts to the U.S. budget if former President Donald Trump is re-elected and they join his cabinet. Both have both endorsed slashing budgets, with Musk this week calling for a $2 trillion reduction. The other question involves the impact of sharp budget cuts on the U.S. economy. Musk has suggested the economy – and, by extension, Americans — would need to endure short-term pain for long-term gains.

Persons: Elon Musk, Elon, John Paulson, Donald Trump, Trump, Paulson, Musk Organizations: SpaceX, Tesla, Ridley High School, Social Security, Congressional Locations: Folsom , Pennsylvania, U.S

Search resuls for: "TESLA"

25 mentions found