Tesla’s new factories are ‘gigantic money furnaces,’ Elon Musk says

Tesla Inc.’s two newest car factories have been losing billions of dollars as supply-chain disruptions and battery-cell manufacturing challenges limit the company’s ability to increase production, Elon Musk said in a recent interview. The company’s plants in Germany and Texas, which opened earlier this year, are “gigantic money furnaces,” the Tesla chief executive said in … Read more

Dogecoin investor sues Elon Musk, Tesla, SpaceX for $ 258 billion, claiming ‘pyramid scheme’

A dogecoin investor is suing Elon Musk and two of his companies, Tesla Inc. and SpaceX, for $ 258 billion, accusing them of operating a “pyramid scheme” to inflate the price of the cryptocurrency. The lawsuit, filed Thursday by Keith Johnson in Manhattan federal court, accuses Musk and his companies of committing fraud, as well … Read more

SpaceX employees say Elon Musk’s behavior is a ‘distraction and embarrassment’: report

A group of SpaceX employees reportedly wrote a letter to the company’s executives that detailed frustrations over the recent behavior and public statements of the company’s founder and chief executive, Elon Musk. According to the Verge, the publication that first reported on the letter’s existence, employees referred to Musk’s behavior as a “distraction and embarrassment” … Read more

In a tough, post-Fed market, this strategist finds opportunity knocking in some of the year’s hottest sectors

Blink and you missed a post-Federal Reserve bounce, as stock futures signal a reboot for Wall Street selling on Thursday. Whatever reaction we see today is likely to be a one-day thing (just like last FOMC). The Fed has no idea where inflation is going, and neither do we. The economic data is what matters, … Read more

Betting markets favor DeSantis over Trump for 2024 Republican presidential nomination, as Elon Musk votes support for Florida governor

Florida Gov. Ron DeSantis has the edge over Donald Trump to score the 2024 Republican presidential nomination, according to the latest odds in the betting market PredictIt. DeSantis has a 38% chance, ahead of Trump’s 36% and 7% for Nikki Haley, the former US ambassador to the United Nations. Former Vice President Mike Pence is … Read more

Crypto crash FOMO and Americans are increasingly worried about red-hot inflation, jobs and their own deteriorating finances

Hi, MarketWatchers. Do not miss these top stories. Crypto crash FOMO? ‘I missed the bus on Bitcoin, but now feel like my time has come. Is it time to go big or go home? I have another 25 years of a boring 9-to-5 job, and I just want out. ‘ ‘I sit here day after … Read more

‘Prices will not come back down’: Americans dip into their savings to cope with record-high inflation

Americans accumulated extra savings during the pandemic, but that money is fast dwindling because of inflation. Some 70% of Americans are using their savings to cover rising prices, a recent Forbes Advisor survey of 2,000 US adults concluded. Among those polled, older adults were more likely to say they have left their savings intact. In … Read more

Maruti’s segment shift shift could upend India’s auto market

New Delhi: More than a decade ago, when Tata Motors unveiled its plans to build and launch a ‘people’s car’, the Nano, an affordable small car in India, it was a turning point in the ‘India Story’. It was clear that India’s new economic power would draw on the country’s demographic dividend, a fast-growing consumer … Read more

Weekend reads: If you agree that inflation has peaked, buy stocks in this sector

If everyone agreed on the direction of the economy, investing would be easy. But there are mixed signals about whether the rate of inflation has peaked, at least in the US If you are among those who believe that inflation has peaked, Michael Brush recommends doing some bargain shopping for stocks in this sector. More … Read more

US has over 750 complaints of Teslas braking for no reason

DETROIT – More than 750 Tesla owners have complained to US safety regulators that cars operating on the automaker’s partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration revealed the number in a detailed information request letter to Tesla that was posted Friday on the … Read more