DIRS.INFO The most relevant business & tech news

☆ 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

☆ Frederick Seidel’s New Book Includes an Ode to Nick Cave
▼ + stars: | 2024-06-20 | by ( ) www.nytimes.com time to read: +2 min

What’s the most interesting thing you learned from a book recently? Not recently, but when I began writing poetry the two poets who taught and influenced me the most were Ezra Pound and Robert Lowell. Right now: Yukio Mishima’s book “Patriotism,” a silly piece of work; “The Collected Poems of Delmore Schwartz”; the essays of Frank Kermode. Have you ever gotten in trouble for reading a book? I remember very much enjoying Maurice Girodias’s banned books in Paris that included Henry Miller and other distinguished authors.

Persons: Ezra Pound, Robert Lowell, Pound, Lowell, Yukio Mishima’s, Delmore Schwartz, Frank Kermode, Jean Rhys, Joseph Roth’s, Lois Lenski, Alex Ross, Louis Menand’s “, “, Mark Vanhoenacker —, I’ve, Maurice Girodias’s, Henry Miller, Girodias Organizations: Ducati Locations: Bologna, Paris

☆ Super Micro, Dell shares jump as Elon Musk calls them suppliers to xAI supercomputer project
▼ + stars: | 2024-06-20 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Shares of Dell Technologies and Super Micro Computer jumped Thursday after Elon Musk revealed that the two hardware makers will provide servers to help his artificial intelligence startup xAI develop a supercomputer. "Dell is assembling half of the racks that are going into the supercomputer that xAI is building," Musk said in an X post, adding that Super Micro will also be involved. Dell shares climbed more than 3% in premarket trading, while Super Micro popped roughly 5%. The technology would potentially help Tesla develop the computer vision and large language models needed for robots and autonomous vehicles. Michael Dell, CEO of Dell, said Wednesday in an X post that his firm is building a "Dell AI factory" with Nvidia to power Musk's AI bot Grok.

Persons: Elon Musk, Tesla, Musk, Michael Dell Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Dell Technologies, Micro Computer, Dell, Microsoft, Google, Nvidia Locations: Beverly Hills , California, Buffalo , New York, Austin , Texas

☆ These new bombshell allegations from Boeing whistleblowers about what happens to faulty plane parts are pretty horrifying
▼ + stars: | 2024-06-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Read previewThe Senate subcommittee investigating Boeing's safety and quality practices on Monday released a new report — and it contains new allegations from company whistleblowers about what happens to faulty plane parts. A new slate of accusations came from Sam Mohawk, a Boeing quality assurance investigator in Renton, Washington. Related storiesThe Senate subcommittee also highlighted allegations from former Boeing quality manager Merle Meyers. The fresh slate of accusations from Boeing whistleblowers adds to the existing allegations against the company from other Boeing whistleblowers. AdvertisementNotably, two Boeing whistleblowers died before the Senate subcommittee's report came out on Monday.

Persons: —, Sam Mohawk, Merle Meyers, Meyers, Joshua Dean, Dean, John Barnett, Dave Calhoun, Calhoun, Sen, Josh Hawley Organizations: Service, Business, Boeing, Occupational Safety, Health Administration, FAA, OSHA, BI Locations: Washington, Renton , Washington . Mohawk, Renton, Charleston

☆ Inside the downfall of Henrik Fisker's second automotive startup, which just filed for bankruptcy
▼ + stars: | 2024-06-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +19 min

AdvertisementA Fisker spokesperson said it would be "unfair" to compare the two companies. A Fisker spokesperson denied comments that Henrik took on a more passive role and said he was "deeply involved." AdvertisementA Fisker spokesperson said Magna was responsible for testing and releasing the Ocean and it had been fully certified by regulators in the US and Europe. A Fisker spokesperson pushed back on the comments questioning Henrik's business prowess. For Henrik, whose earlier company, Fisker Automotive, filed for bankruptcy in 2013, his present predicament echoes the past.

Persons: —, Henrik Fisker, Wendy Gruel's, Geeta Gupta, Gupta, Henrik Fisker's, James Bond, Henrik, Fisker, Rivian, Tesla, Phil McCarten, Magna, hadn't, YouTuber, Marques Brownlee, Kurt Mechling, he'd, they'd Organizations: Service, Business, TechCrunch, Aston Martin, BMW Z8, Magna International, Fisker Inc, Apollo Global Management, Tesla, Ford, GM, Magna, Reuters, Fisker, Business Insider, Engineers, Traffic Safety Administration, NHTSA, Technicians, California Bureau of Automotive, BI, New York Stock Exchange, Fisker Automotive Locations: Fisker, Europe, California, Graz, Austria, Panera

☆ Putin arrives in North Korea for first visit in 24 years as anti-West alignment deepens
▼ + stars: | 2024-06-18 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +9 min

Following his visit to North Korea, Putin is scheduled to travel to Hanoi in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Putin’s trip to North Korea will have a “very eventful” agenda, his aide Yuri Ushakov said during a press conference Monday. One image was of a grandstand being constructed on the eastern side of Kim Il Sung Square, the site where all major parades in North Korea are held. Putin arrives in North Korea on Tuesday, June 18. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: Vladimir Putin, Kim Jong Un, Putin, Kim, Yuri Ushakov, Ushakov, Kim Il, John Kirby, Biden, wasn’t “, ’ Kim, ” Kim, ”, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ” Putin, Kim Jong Il, Xi Jinping, Michael Mitsanas, Katharina Krebs, Mariya Knight, Yoonjung Seo, Betsy Klein, Paul P, Murphy Organizations: CNN, TASS, Putin, Planet Labs, Maxar Technologies, US, North Korean, North, South Korea’s, Chiefs of Staff, West, Ukrainian, Kyiv, NATO, Ukraine, Defense, Kremlin, United Nations Security, UN Locations: North Korea, Pyongyang, Ukraine, Korean, Korea, Hanoi, Russia, United States, Asia, Moscow, North, Zarubinreporter, South Korea, South, Russia’s, Eurasia, Italy, Kyiv, Russian, Vietnam, Beijing, China, Iran, South Africa, Brazil

☆ Chinese official slams EU probe into EV subsidies as 'selective'
▼ + stars: | 2024-06-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"The Commission considers that the sample was selected in accordance with the WTO rules and the corresponding EU legislation in this regard," he said. "The Volkswagen Group confidently accepts the growing international competition, including from China, and sees this as an opportunity. The NDRC's Jin added that the EU anti-subsidy probe does not appear to be based off an industry or business complaint. "Consequently, the Commission has reached out to Chinese authorities to discuss these findings and explore possible ways to resolve the issues identified in a WTO-compatible manner," the EU statement said. The Biden administration in May announced it would raise tariffs on imports of Chinese electric cars from 25% to 100%.

Persons: Olof Gill, Gill, BEV, Oliver Zipse, Elon, Jin, EU's Gill, BEV producers, Biden Organizations: CNBC, WTO, Major, Volkswagen Group, EU, Volkswagen, U.K, BMW Group, BMW, SAIC, EV, EVs Locations: Union, China, Germany, Europe, Western Europe, Shanghai, EU, WTO

☆ Boeing hid questionable parts from regulators that may have been installed in 737 Max planes, new whistleblower alleges
▼ + stars: | 2024-06-18 | by ( Chris Isidore | Gregory Wallace | ) edition.cnn.com time to read: +11 min

Boeing has been under intense scrutiny with numerous federal investigations and congressional hearings since a January 5 Alaska Air Boeing 737 Max flight had a door plug blow off, leaving a gaping hole in both the plane and Boeing’s reputation. He also claims Boeing in August 2023 told employees to delete records about nonconforming parts, which led him to complain – but Boeing took no action. Jason Redmond/ReutersAt an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so. But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period. Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.

Persons: Sam Mohawk, ”, Dave Calhoun, Calhoun, We’ve, Sen, Richard Blumenthal, Blumenthal, ” Blumenthal, “, Max, Howard McKenzie, Boeing’s, Jason Redmond, Sam Salehpour, ” Salehpour, ” Calhoun’s, Richard Aboulafia, “ I’m, Calhoun’s Organizations: Washington CNN, Boeing, Federal Aviation Administration, Congressional, CNN, Alaska Air Boeing, Max, Connecticut Democrat, FAA, Reuters, Consultancy, Alaska Air, Alaska Airlines, Alaska Airlines ’, Department Locations: Renton , Washington, Connecticut, Mohawk, Renton, Alaska, Indonesia, Ethiopia

☆ One private equity firm controls more than a dozen of the biggest restaurant chains
▼ + stars: | 2024-06-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Over the last quarter-century, Roark Capital Group has bought up nearly 20 restaurant brands in the US. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.

Persons: —, Carl's Jr, Dunkin, Tyler Le, Roark, Jimmy John's, Auntie Anne's, Howard Roark, Ayn, TriArtisan Organizations: Buffalo Wild Wings, Roark Capital Group, Service, Business, Roark Capital, Hooters, TriArtisan Capital, Bay Capital Locations: Subway, Arby's, Carl's, Atlanta, Ayn Rand's, Nestle, Mars

☆ Russia will hold Evan Gershkovich’s espionage trial behind closed doors, state media reports
▼ + stars: | 2024-06-17 | by ( Sergey Gudkov | Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —American journalist Evan Gershkovich will stand trial behind closed doors in the Russian city of Yekaterinburg starting on June 26, state-run news agency TASS reported Monday, citing the court’s press service. The Russian Prosecutor General’s office said last Thursday it had approved the indictment and referred Gershkovich’s case to a trial court. On Thursday, US State Department spokesperson Matthew Miller said the allegations against Gershkovich have “absolutely zero credibility.”“We have been clear from the start that Evan has done nothing wrong. He should be released immediately,” Miller said at a State Department briefing. Gershkovich is among a number of Americans being held in Russia, including former Marine Paul Whelan, whom the US State Department has also declared as wrongfully detained.

Persons: Evan Gershkovich, General’s, Gershkovich, “ Gershkovich, Matthew Miller, ”, Evan, ” Miller, Paul Whelan Organizations: CNN, Wall Street, Sverdlovsk Regional Court, US State Department, State Department, US Locations: American, Russian, Yekaterinburg, Sverdlovsk, Moscow’s, Washington, Moscow, Ukraine, Russia

☆ Bidenomics: The Queen Bee Is Jennifer Harris - The New York Times
▼ + stars: | 2024-06-17 | by ( Farah Stockman | ) www.nytimes.com time to read: +2 min

Our host, Jennifer Harris, gave a speech about how economic ideas change to meet the needs of a new era. In a room full of V.I.P.s, she was the Queen Bee. I was thrilled when the Biden administration came in with a plan for big federal investments in the American industrial base, tariffs, support for labor unions and actions against monopolies. To understand who Ms. Harris is, you have to know who she used to be. For years, she felt like an oddball in Washington, where both parties were still in thrall to neoliberalism.

Persons: I’ve, Jennifer Harris, Queen Bee, I’d, Harris, Trump, —, Biden, thrall Organizations: Biden, steelworkers, Department Locations: San Francisco Bay, Washington, Indiana, Mexico, China, United States

☆ Boeing CEO admits company has been ‘far from perfect’ after a flood of safety lapses
▼ + stars: | 2024-06-17 | by ( Chris Isidore | Gregory Wallace | ) edition.cnn.com time to read: +6 min

At an April 17 hearing Boeing engineer Sam Salehpour testified that Boeing is putting out defective planes because he and others who complain faced pressure not to do so. Calhoun has already met with members of Congress since the Alaska Air incident, albeit behind closed doors. He has also made numerous public statements to Boeing employees and to investors since the Alaska Air incident. But the January 5 incident aboard the Alaska Air flight happened just days before the end of the probationary period. Boeing has denied the Alaska Air incident violated the deferred prosecution agreement and is challenging any potential criminal liability in court.

Persons: Dave Calhoun, We’ve, Stephen Brashear, Calhoun, Howard McKenzie, Boeing’s, Sam Salehpour, ” Salehpour, ” Calhoun, “, ”, Richard Aboulafia, “ I’m, Calhoun’s, Max Organizations: Washington DC CNN, Boeing, Alaska Air Boeing, Max, Federal Aviation Administration, Getty, Consultancy, Alaska Air, Alaska Airlines, Alaska Airlines ’, Department Locations: Renton , Washington, Alaska, Indonesia, Ethiopia

☆ Russia’s Putin to visit North Korea in rare trip as anti-West alignment deepens
▼ + stars: | 2024-06-17 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +6 min

Following his visit to North Korea, Putin will travel to Hanoi Wednesday for another two-day trip, in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Both countries have denied North Korean arms exports. The Kremlin has said that Russia hopes to build a partnership with North Korea “in all possible areas,” according to Russian state media. Putin’s move to bolster North Korean ties has also been a boon for Kim, who remains unbowed by years of international sanctions over his illegal nuclear weapons program. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: CNN — Vladimir Putin, Kim Jong Un, Putin, Kim, ” Kim, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ”, ” Putin, Kim Jong Il, Xi Jinping Organizations: CNN, Kremlin, Putin, North Korean, Pyongyang –, North, North Korea “, Ukrainian, Kyiv, NATO, Ukraine, Defense, United Nations Security, UN Locations: North Korea, Russian, Ukraine, Pyongyang, Hanoi, Russia, United States, South Korea, Moscow, Korean, Russia’s, Italy, Kyiv, Beijing, China, Iran, South Africa, Brazil

☆ How A.I. Is Revolutionizing Drug Development
▼ + stars: | 2024-06-17 | by ( Steve Lohr | Spencer Lowell | ) www.nytimes.com time to read: 1 min

The laboratory at Terray Therapeutics is a symphony of miniaturized automation. Robots whir, shuttling tiny tubes of fluids to their stations. Scientists in blue coats, sterile gloves and protective glasses monitor the machines. Every interaction is recorded, millions and millions each day, generating 50 terabytes of raw data daily — the equivalent of more than 12,000 movies. The lab, about two-thirds the size of a football field, is a data factory for artificial-intelligence-assisted drug discovery and development in Monrovia, Calif. It’s part of a wave of young companies and start-ups trying to harness A.I.

Organizations: Terray Therapeutics Locations: Monrovia, Calif

☆ Russian troops surrender to an elite brigade as the Kharkiv front holds, Ukraine says
▼ + stars: | 2024-06-16 | by ( Cameron Manley | ) www.businessinsider.com time to read: +4 min

Read previewRussian soldiers have been surrendering to an elite Ukrainian combat brigade in the northern town of Vovchansk in the Kharkiv region, reports say. A video released on Wednesday by Ukraine's 3rd Assault Brigade appears to show Russian troops emerging from a trench with their hands raised above their head or tied behind their backs. Several of the captured soldiers said they had been forced into the Russian army due to financial or legal trouble. An earlier video published on June 6 by Ukraine's 36th Marine Brigade, appeared to show two Russian soldiers, both wounded, being captured during a Ukrainian counterattack in Vovchansk. AdvertisementIn February, some 30,000 Russian troops began pouring over Ukraine's northern border into the Kharkiv region, opening up a new front for Ukraine's already-stretched defenses.

Persons: —, Nazar Voloshyn, Voloshyn, John Kirby, Putin, Ann Marie Dailey, Dailey Organizations: Service, Ukraine's 3rd Assault Brigade, Business, 3rd Assault Brigade, Khortitsiya, Command, Ukraine's 36th Marine Brigade, White House National Security Communications, RAND, Putin Locations: Ukrainian, Vovchansk, Kharkiv, Moscow, Ukraine's, Russian, Belgorod, Russia

☆ No Field, No Problem. An Academic Powerhouse Can Also Play Ball.
▼ + stars: | 2024-06-16 | by ( David Waldstein | ) www.nytimes.com time to read: +1 min

Housed in a former pocketbook factory in Astoria, Queens, the tiny Baccalaureate School for Global Education is an elite public high school with a rigorous academic curriculum. Founded in 2002, it has only about 400 students, no gym, no playing fields and no auditorium. Students who want to play on the school’s softball team, for instance, have to take two subway lines and then walk another 10 minutes to a remote practice field in Woodside. It is not the ideal setting for a sports powerhouse, but the Baccalaureate girls’ softball team, known as the Sting, is not only good; it dominates. The squad, made up of a cohesive group of dedicated players, rolled through its 2024 schedule undefeated (14-0) and capped an improbable season by winning the Public Schools Athletic League 2A division championship, Baccalaureate’s first title in any sport.

Persons: Sting, Baccalaureate’s Organizations: School, Global Education, softball, Public Schools Athletic League Locations: Astoria , Queens, Woodside, Far Rockaway, Queens

☆ The F.B.I. Kept a File on My Father That Has Made His Family Proud - The New York Times
▼ + stars: | 2024-06-15 | by ( Samuel G. Freedman | ) www.nytimes.com time to read: +1 min

On an otherwise pleasant day in May 1957, my father received two unwelcome visitors at his tool-and-die factory. The agents intended to use that information as leverage to turn my father, too, into a snitch. Having grown up hearing family stories about my father’s lifelong radical politics, Aaron put through a Freedom of Information Act request for the F.B.I. That file is a reminder of what I inherited from him — not just his politics, but the convictions that they were built on. Dad would have been a logical enough target of scrutiny of J. Edgar Hoover’s F.B.I.

Persons: Aaron, David Freedman, —, Carol, Ken, Paul Avrich, Edgar Hoover’s F.B.I Organizations: Communist Party Locations: Highland Park, N.J, Piscataway

☆ ‘Just too burnt out’: Child care crisis crunches providers
▼ + stars: | 2024-06-15 | by ( Meena Duerson | Tami Luhby | ) edition.cnn.com time to read: +7 min

Nationwide, the average yearly cost of care rose to $11,582 per child last year, according to Child Care Aware of America’s latest annual report. The basic costs of employing enough staff to comply with legal and safety requirements in child care centers are already high. The typical hourly wage for a child care worker in Wisconsin is $13.78, according to the US Bureau of Labor Statistics. Facing a “child care cliff”The historic $24 billion federal investment helped more than 225,000 providers nationwide — or more than 8 in 10 licensed child care centers — and affected as many as 10 million children. My First Adventure Child Care and Preschool serves 60 families but will close this summer.

Persons: Susan Elandt, ” Elandt, I’m, “ It’s, “, Elandt, what’s, ”, Lydia Higgins, Higgins, ” Higgins, she’s Organizations: CNN, Nationwide, of Columbia, US Bureau of Labor Statistics, The Century Foundation Locations: Waupaca , Wisconsin, Wisconsin, Waupaca

☆ This nutrition scientist is on a mission to make ultra-processed foods healthier. Can he succeed?
▼ + stars: | 2024-06-15 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +9 min

Read previewIt's been five years since nutrition scientist Kevin Hall made a startling discovery that changed the way we view ultra-processed foods. It was the first randomized controlled study of its kind, and it changed the way we view ultra-processed foods. Aleksandr Zubkov/Getty ImagesHe wants to understand precisely why ultra-processed foods do what they do and what—if anything—we can do to make them healthier. Ultra-processed foods attack our brainsPaul Bradbury/Getty ImagesWe've known for a long time that ultra-processed foods are associated with all kinds of bad health outcomes, from more early death, to extra strokes, and additional heart attacks. Related storiesBut whether the entire category — all packaged, ultra-processed foods are inherently bad for us by nature — is still an open question.

Persons: —, Kevin Hall, Hall, Stephanie Chung, Jennifer Rymaruk, Aleksandr Zubkov, he's, we'll, Paul Bradbury Organizations: Service, National Institutes of Health, Business, Getty, Washington Post, National Institutes, NIDDK, Nestle Locations: NIDDK, Bethesda , Maryland, veggies

☆ This one private equity firm owns over a dozen of your favorite restaurants
▼ + stars: | 2024-06-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. But Roark's holdings include other restaurants that you've probably visited before:Roark Capital owns almost 20 restaurant brands, from Carl's Jr. to Dunkin'. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.

☆ In pictures: India records 'longest' heatwave, Delhi faces water crisis
▼ + stars: | 2024-06-14 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

People filling water in plastic cans from a water supply tanker at Chanakyapuri, Delhi on June 12, 2024. India's capital Delhi is facing a severe water crisis as the country undergoes its "longest spell" of recorded heatwave. "Heat wave to severe heat wave conditions [are] likely to continue over northern parts of India during next 4-5 days," IMD said in a release. The highest daily temperature in Delhi has consecutively surpassed 40°C since May 12, weather forecasting site AccuWeather showed. Other parts of India were not spared, with temperatures in some cities touching 47.5°C on Thursday.

Persons: Mrutyunjay Mohapatra, Atishi Organizations: India's Meteorological Department, IMD, Indian Express, Economic Times, World Meteorological Organization Locations: Chanakyapuri, Delhi, India's, India, Mungeshpur, South, Southeast Asia, Bangladesh, Thailand, Vietnam, Asia

☆ The cult of Elon Musk was on full display at Tesla's shareholder vote
▼ + stars: | 2024-06-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Tesla's cult-like following was on full display at its annual shareholder meeting on Thursday. Fans wore "Cybertruck" shirts, signed shareholder banners, and cheered throughout the event. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's no secret that Elon Musk has a cult-like following — and that was on full display at Tesla's annual shareholder meeting on Thursday. Musk successfully mobilized his fanbase to help push through his $55 billion pay package, and some of Tesla's biggest supporters scored invites to the annual meeting.

Persons: —, Elon Musk, Musk, Tesla Organizations: Service, Business Locations: Delaware, Texas

☆ How Tesla Shareholders Upheld Elon Musk’s Sky-High Pay
▼ + stars: | 2024-06-14 | by ( Lily Boyce | Jason Karaian | ) www.nytimes.com time to read: +5 min

How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.

Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin

☆ Russian Prosecutors Finalize Indictment of Evan Gershkovich
▼ + stars: | 2024-06-13 | by ( Ivan Nechepurenko | More About Ivan Nechepurenko | ) www.nytimes.com time to read: +1 min

Russian prosecutors announced a major step on Thursday in their case against the imprisoned American journalist Evan Gershkovich, saying they had finalized the espionage indictment against him and that he would be tried in the Russian city of Yekaterinburg, where he was arrested more than a year ago. The Russian authorities have suggested that they could be open to a prisoner swap for Mr. Gershkovich, a reporter for The Wall Street Journal, but only after a verdict is handed down. The detention of Mr. Gershkovich, the first American journalist arrested on a spying charge since the end of the Cold War, highlighted the extent to which Russia’s invasion of Ukraine has damaged relations between Moscow and Washington. In a statement, the prosecutors said they had determined and confirmed that “under instructions from the C.I.A.” and “using secrecy methods,” Mr. Gershkovich “was collecting secret information” about a factory that produces tanks and other weapons in the Sverdlovsk region.

Persons: Evan Gershkovich, Gershkovich, Mr, Gershkovich “ Organizations: Wall Street Locations: American, Russian, Yekaterinburg, Ukraine, Moscow, Washington, Sverdlovsk

☆ China became the world's factory by selling cheap goods. This strategy won't work for EVs.
▼ + stars: | 2024-06-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China, the world's factory, is known for producing affordable goods quickly. But China EV makers shouldn't leverage on their price advantage in the long run as it's not sustainable, said a Bain consultant. The EU will impose up to 48.1% tariffs on Chinese EV imports next month to protect European economies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChina has been the world's factory floor for the last 40 years, propelling it into the position of the world's second-largest economy.

Persons: — Organizations: EU, EV, Service, Business Locations: China, Bain

Search resuls for: "Factory"

25 mentions found