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☆ Tesla hikes price of high-end Model S and Model X in China by roughly $2,750
▼ + stars: | 2023-05-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Tesla raised the price of its more expensive Model S and Model X cars in China, its website showed Friday, following other hikes to its other vehicles a few days prior. The Model S now costs 808,900 yuan versus 789,900 yuan prior. The Model X now costs 898,900 yuan versus 879,900 yuan before. Tesla appears to be maintaining a higher price of its Model S and Model X in China to play in the premium segment of China's electric car market. However in China, there are not major competitors to Tesla in the price category the Model S and Model X are in.

New York CNN —Facebook’s parent company Meta announced Wednesday that it has taken down a network of more than 100 China-based accounts that posed as organizations in the US and Europe and pushed pro-Beijing talking points. The network, which had more than 15,000 followers on Meta’s platforms, appears to have had some financial resources behind it. The fake accounts also posted “negative commentary about Uyghur activists and critics of the Chinese state,” it said. “We’re keeping a close eye” on the Chinese influence operations heading into the 2024 election, the official said. Ahead of the 2022 US midterm election, FBI officials expressed concern that Chinese operatives appeared to be engaging in “Russian-style influence activities” that stoke American divisions.

☆ Australia to reveal huge budget rebound, pledge restraint in response
▼ + stars: | 2023-05-01 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Treasurer Jim Chalmers has spent weeks using "restraint" and "responsible" to describe his second budget since coming to power in May last year. Instead, the aim is to bank any budget savings, and there are plenty to go around. As recently as October, Chalmers had forecast a deficit of almost A$37 billion ($24.47 billion) for the year to end June 2023. "To place the budget on a more sustainable footing over the medium-term will require an increase in revenue flow and/or more spending discipline." In short, Australia, like most developed economies with aging populations, is finding deficits are the new normal.

Importantly, smaller firms are also starting to raise pay even as many of them face a margin crunch. Big firms offered pay hikes of 3.8% this year in annual wage talks with unions that ended in March, the largest increase in three decades. Attention has now shifted to whether small firms, which employ seven out of 10 workers in Japan, would follow suit. The BOJ's tankan business sentiment survey showed last month that small firms' current profits fell 2.7% in the last fiscal year to March, while big firms' earnings rose 11.5%. Less than half of small firms said they were able to pass on rising costs to customers as of last September, government data showed.

☆ Russia's Wagner boss escalates rift with Putin's military, threatens Bakhmut withdrawal due to a lack of thousands of artillery shells
▼ + stars: | 2023-04-30 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Yevgeny Prigozhin threatened to withdraw Wagner Group fighters from Bakhmut over shell shortages. He issued an ultimatum to Russia's defense minister and gave him 24 hours to respond. Prigozhin issued an ultimatum to Russian Defense Minister Sergei Shoigu over ammunition shortages in an interview with Russian military blogger Semyon Pegov published Saturday. Prigozhin warned that if Shoigu does not respond to his requests for more ammunition, Wagner fighters will withdraw from Bakhmut. He issued the deadline on April 27 and said the defense minister had 24 hours to reply, which has now passed.

☆ James Corden bids an emotional farewell to ‘The Late Late Show’
▼ + stars: | 2023-04-28 | by ( Toyin Owoseje | ) edition.cnn.com time to read: +2 min

CNN —After eight years and multiple Emmy awards, James Corden’s time as host of “The Late Late Show” has come to an end. James Corden sings "That's Our Show" to say his last goodbyes to "The Late Late Show" on April 27, 2023. “I’ve watched America change a lot. Over these past few years, I’ve watched divisions grow and I’ve seen and I’ve felt a sense of negativity bubble and at points boil over,” he added. Corden ended his final appearance by performing a piano ballad, as a video montage of his finest moments on the show played.

☆ This video game stock could struggle after the blocking of Microsoft's Activision Blizzard takeover, BMO says
▼ + stars: | 2023-04-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

BMO Capital Markets thinks Electronic Arts could be negatively impacted from the blocking of the Microsoft - Activision Blizzard deal. The firm downgraded EA stock to market perform from outperform Thursday. But BMO says because the UK Competition and Markets Authority's stopped Microsoft's takeover attempt of Activision Blizzard , the failure will be a cautionary tale for company's seeking large deals in the space. EA YTD mountain Shares of Electronic Arts could face more pressure after the fallout of the takeover deal from Microsoft of Activision Blizzard. However, the regulatory body did stipulate that Microsoft could make Activision games exclusive to cloud gaming platform Xbox Game Pass.

☆ Analysis: Calls for South Korean nuclear arsenal unlikely to fade despite US deal
▼ + stars: | 2023-04-27 | by ( Josh Smith | ) www.reuters.com time to read: +5 min

"Domestic politics could distort the incentives South Korean leaders face when it comes to limiting their nuclear options over the long run." Nuclear expert Siegfried Hecker warned in January there could be disastrous downsides to Seoul acquiring its own nuclear weapons. The United States once stationed hundreds of tactical nuclear weapons in South Korea and has made other agreements to reassure Seoul. Choi Il, a retired South Korean submarine captain, told Reuters that South Korea's fundamental answer to the growing North Korean threat remains unchanged. "If you strike us with nuclear weapons, then we will strike back with our own."

☆ China has an inflation problem. It’s way too low
▼ + stars: | 2023-04-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

That’s raising the specter of a tailspin of falling prices and wages from which the economy may struggle to recover. “Our core view is that China’s economy is deflationary,” wrote Raymond Yeung, chief economist for Greater China at ANZ Research, last week, soon after China released its first-quarter GDP growth figures. Instead of spending money, people are hoarding cash at a record rate. “Even with a conservative estimate, 500 billion yuan in consumption vouchers will drive one trillion yuan in overall consumption, ” Li said in a video posted on his Weibo social media account on Tuesday. In return, the government could receive at least 300 billion yuan through taxes generated by the increase in spending, he said“So it only takes 200 billion yuan in spending for the central government to drive one trillion yuan in consumption,” he said.

☆ DeSantis stumbles stoke anti-Trump Republicans' fear
▼ + stars: | 2023-04-21 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsDeSantis stumbles stoke anti-Trump Republicans' fearPostedCurrent and former Republican Party operatives who have spent years trying to banish Donald Trump from American political life say the former president's 2024 campaign has begun to gain so much steam that they fear he is by far the favorite to become the party's presidential nominee again. This report produced by Tamara Lindstrom.

☆ Everyone was wrong about how the pandemic would change shopping — here's how experts are betting on e-commerce now
▼ + stars: | 2023-04-19 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

The idea that e-commerce will keep growing forever, and betting on it will lead to an almost inevitable rising tide, didn't survive the pandemic. Public flame-outs of entire categories of startups, like ultra-fast deliveries and Amazon seller aggregators, have further demonstrated the boom-and-bust nature of pandemic e-commerce investing. Apple's recent moves to give consumers more online privacy has had ripples through the e-commerce ecosystem, leading investors to take a beat. E-commerce logistics — fulfillment and last-mile delivery — said Sloane is fairly well-saturated at this point, he said. For many retailers, the pandemic offered a harsh lesson in how integrated their stores and their websites weren't, she said.

☆ State Street profit misses on lower fee income; shares fall
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

State Street, the world's largest custodian bank, saw its assets under custody or administration fall 10% to $37.6 trillion in the first quarter. Along with a number of other large U.S. banks, State Street provided $1 billion of liquidity to First Republic Bank (FRC.N) last month. State Street set aside $44 million as provision for credit losses in the reported quarter as steep rate rises stoke fears of an economic slowdown. Analysts had expected State Street to earn $1.64 per share, according to Refinitiv IBES data. "We are optimistic about client onboardings and we expect revenue growth in the coming quarter," State Street Chief Executive Officer Ron O'Hanley said.

☆ Factbox: Tesla's Shanghai plant, targeted by worker protest, is key hub for EV maker
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

Here are key facts about Tesla's operation in Shanghai:BACKGROUNDTesla’s Shanghai plant, which began operations in late 2019, is the automaker’s largest manufacturing hub. The plant employs some 20,000 workers and accounted for more than half of Tesla’s global output in 2022. Some Tesla workers were told their performance bonuses were being cut because of the accident and took to social media to protest. KEY EXECUTIVETesla promoted its China chief Tom Zhu to take oversight of its global production and sales earlier this year. Under Zhu, the Tesla Shanghai plant managed a quick rebound from lost production last year due to COVID lockdowns in China.

☆ Opinion: Top secrets come spilling out
▼ + stars: | 2023-04-16 | by ( Richard Galant | ) edition.cnn.com time to read: +16 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Writing for CNN Opinion, Rep. Justin Pearson noted, “This should be a chastening moment for revanchist forces in Tennessee’s legislature and across the country. Over the long haul, the undemocratic machinations employed to oust us from office are destined to fail. Dr. Martin Luther King, Jr. once famously said that the moral arc of the universe bends toward justice. “As a Jewish historian,” Perry wrote, “I worry about the tension between preserving the memory of past hardships while not locking our entire history into a tale of oppression.

☆ Opinion: Why Biden is lying low ahead of 2024
▼ + stars: | 2023-04-14 | by ( Julian Zelizer | ) edition.cnn.com time to read: +6 min

Editor’s Note: Julian Zelizer, a CNN political analyst, is a professor of history and public affairs at Princeton University. But when the ensuing conversation doesn’t go his way, he unleashes on them, declaring, “You are not serious figures. I love you, but you are not serious people.”The line is powerful — and may just capture the way President Joe Biden and Vice President Kamala Harris are approaching the declared and expected GOP candidates ahead of the 2024 campaign. Among the GOP candidates, former President Donald Trump was the first to announce his campaign five months ago. Biden might be boring and fly under the radar much of the time, but that is the image of normality that helped him win in 2020.

Administration officials believe the U.S., the world's largest oil consumer and global economy have entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. Oil prices slipped on Thursday as the prospect of a possible recession in the US offset concerns of tight supply. Slowing economy or not, the OPEC move could still complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

Administration officials believe the U.S. and global economy has now entered a more predictable, less volatile phase. This year, gasoline prices have stabilized at lower levels, U.S. oil production is approaching record highs and the job market, while still strong, is cooling down along with inflation, administration officials say. The OPEC move could complicate Biden's efforts to tame nagging inflation and dampen gasoline prices at home, according to multiple interviews with U.S. officials and analysts. The recent U.S. banking crisis has added another layer of uncertainty to global and U.S. forecasts as well, forecasters warn. Discussions with refiners about expanding capacity or limiting fuel exports have dried up since last summer, oil executives told Reuters.

☆ England's top soccer clubs agree to ban gambling sponsors on front of matchday shirts
▼ + stars: | 2023-04-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Dwight McNeil (L) and Demarai Gray of Everton during the Premier League match between Manchester United and Everton FC at Old Trafford on April 08, 2023 in Manchester, England. The club's shirts are sponsored by online casino Stake.com. Soccer clubs in England's top-flight Premier League on Thursday agreed not to allow gambling firms to advertise on the front of matchday shirts from the end of the 2025/2026 season. The move comes amid widespread concern and ongoing campaigns to reduce or ban gambling advertising. The Premier League did not immediately respond to a request for comment.

☆ Living standards are still falling in Japan. That’s a recipe for more stagnation
▼ + stars: | 2023-04-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Adjusted for inflation, wages slipped 2.6% in February, compared to the same month a year earlier, according to government data released last week. That means it’ll be tough for Ueda to hike interest rates, especially as living standards aren’t rising either. The issue of stagnant wages could improve this year, as companies heed the call to raise salaries in response to inflation. Workers in Japan have been grappling with stagnant wages, leading to a government push for businesses to hike pay. But in Japan, it’s high enough to feel uncomfortable, given stagnant wage growth, according to Angrick.

☆ Bayern's Choupo-Moting to miss Man City clash
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

April 10 (Reuters) - Bayern Munich forward Eric Maxim Choupo-Moting will miss his side's Champions League quarter-final first leg game at Manchester City on Tuesday night due to a knee injury, the Bundesliga leaders said on Monday. Choupo-Moting, who is in his third season with Bayern after stints with Paris St Germain and Stoke City, is their top scorer this season with 17 goals in all competitions. The 34-year-old also missed Bayern's 1-0 league victory over Freiburg on Saturday. "Eric Maxim Choupo-Moting will not travel to Manchester," Bayern said in a statement. Bayern also said defender Lucas Hernandez, who has not played since suffering a knee injury at last year's World Cup in Qatar, has returned to training with the ball.

☆ Russian travelers say they fear one question: ‘Where are you from?’
▼ + stars: | 2023-04-10 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +7 min

Another Russian traveler, Lana, also asked that we not use her full name over fears of retaliation from Russian authorities. "Back then, when you say 'I'm from Russia,' the first thing people say is vodka, bears, Matryoshka [dolls], and all that innocent stuff," she said. Anna said telling new people she's Russian has "always been tricky, to be honest, even before the war." Source: Julia AzarovaSince leaving Russia, Azarova said she's not had any confrontations over her nationality. Now she's now no longer afraid to say she's Russian, she said, namely because she can't do anything about it.

☆ Can We No Longer Believe Anything We See?
▼ + stars: | 2023-04-08 | by ( Tiffany Hsu | Steven Lee Myers | ) www.nytimes.com time to read: +1 min

Authoritarian governments have created seemingly realistic news broadcasters to advance their political goals. Last month, some people fell for images showing Pope Francis donning a puffy Balenciaga jacket and an earthquake devastating the Pacific Northwest, even though neither of those events had occurred. The images had been created using Midjourney, a popular image generator. If any image can be manufactured — and manipulated — how can we believe anything we see? Plug in a text description, and the technology can produce a related image — no special skills required.

☆ Tesla Cuts Prices Again as It Seeks to Lure New Buyers
▼ + stars: | 2023-04-07 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Tesla Inc. lowered the prices on its vehicles in the U.S. again, continuing a string of cuts that come as the EV maker tries to stoke demand amid heightened competition from other auto makers that are seeing sales rebound. Tesla cut the prices on its more expensive Model S and Model X vehicles by $5,000 each to $84,990 and $94,990, respectively. The company also lowered the price on its Model 3 sedan and Model Y sport-utility vehicle by $1,000 and $2,000 to base prices of $41,990 and $49,990, respectively.

☆ AOC says 'a lot' of House Dems would cast 'disingenuous' yes votes for Medicare for All if it came to floor because they 'know that it's going to a graveyard' in the Senate
▼ + stars: | 2023-04-07 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

Rep. Alexandria Ocasio-Cortez argued some Democrats don't sincerely support Medicare for All. She said the Senate's 60-vote filibuster lets them to rhetorically support it but not fight for it. She argued dismantling the filibuster is the "precursor" to passing progressive priorities. The most recent House version of the bill, introduced in 2021, garnered 123 co-sponsorships — more than half of the House Democratic Caucus at the time. Filibuster frustrationsThe filibuster stymied Democrats during the first two years of the Biden administration when they held slim majorities in both the House and Senate.

Etsy — The e-commerce company's shares rose 3.9% after Piper Sandler upgraded them to overweight from neutral. Virgin Orbit — The satellite launch company sank 14% in the premarket after filing for Chapter 11 bankruptcy protection. Tesla — Shares of the electric vehicle maker ticked up nearly 1% in premarket trading. Tesla stock declined 6.1% a day earlier, with investors seemingly responding to the company's vehicle delivery report from the weekend. The media company's shares have jumped 7.8% year to date.

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