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Tesla’s margin getting hammered by discounts and hefty AI spending
Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute's Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California. Apu Gomes | Getty ImagesAs Tesla CEO…
Elon Musk wants Tesla to invest $5 billion into his newest startup, xAI —
Musk is attending Cannes Lions this week with an aim to reassure ad groups and global brands over the future of X.Marc Piasecki | Getty ImagesTesla CEO Elon Musk posted an informal poll on social network X asking whether his publicly…
How Truth Social could potentially make Trump billions
Truth Social is a social media platform whose majority owner is former President Donald Trump.A team of early investors say they want to "end Big Tech's assault on free speech." Achieving that may require a rapid uptick in the size of…
World’s largest luxury group LVMH slumps after reporting revenue miss
People are walking by the Louis Vuitton storefront building in Lisbon, Portugal, on July 21, 2024.Luis Boza | Nurphoto | Getty ImagesShares in the world's largest luxury group LVMH fell on Wednesday after its second-quarter sales came in…
Tesla shares fall 7% in premarket trading after earnings miss
Elon Musk, CEO of Tesla.Antonio Masiello | Getty ImagesTesla shares fell more than 8% in premarket trading in the U.S. after the electric carmaker reported second-quarter earnings that missed expectations amid ongoing pressure in its…
Spain’s Santander posts 20% hike in net profit as retail business shines
Bank of Santander HeadquartersGetty ImagesBanco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity, after firm revenues and margin management in Europe…
Deutsche Bank (DBK) Q2 earnings
Deutsche Bank offices in the City of London on 2nd July 2024 in London, United Kingdom. Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt.Mike Kemp | In Pictures | Getty…
Chinese EV stocks drop as Tesla’s earnings miss, General Motors delays EV
Spectators are looking at BYD Song L electric cars at the 21st Changchun International Automobile Expo in Changchun, Jilin province, China, on July 17, 2024. (Photo by Costfoto/NurPhoto via Getty Images)Nurphoto | Nurphoto | Getty…
Musk says he expects China to approve Full Self Driving by year-end
Tesla China sales fell by 5.4% in the first half of the year, although the company retained third place in new energy vehicle sales, behind BYD and Geely, according to the China Passenger Car Association.Bloomberg | Bloomberg | Getty…
Global chip equipment makers double China revenue share since U.S. controls
A worker produces chips at a semiconductor manufacturing enterprise in Binzhou, China, on June 4, 2024.Nurphoto | Nurphoto | Getty ImagesBEIJING — Four of the world's largest semiconductor equipment manufacturers, including ASML, have…