Chinese automaker Li Auto on Monday cut prices by around 5% on four of its five models and said it would refund owners who had bought those models earlier this year, deepening a price war in the country. The move by Li Auto, the most popular extended-range hybrid seller in China, comes after price cuts by U.S. automaker Tesla and as BYD, the world's largest EV maker, revised down its prices for relaunched models. Li Auto announced cuts of between 18,000 and 30,000 yuan ($2,485-$4,142) on its L7, Li L8, Li L9, and Li MEGA models and said owners who had already picked up those models this year would also receive cash refunds...

These seven large-cap stocks were the worst performers last week. Are they in your portfolio? Arm Holdings plc (NASDAQ:ARM) was the worst large-cap stock performer last week, plummeting 31.08%. The company fell alongside ASML Holding N.V. (NASDAQ:ASML), which reported worse-than-expected first-quarter FY24 results last week. Exane BNP Paribas analyst David O’Connor downgraded ARM from “Outperform” to “Neutral” with a $100 price target. MicroStrategy Inc’s (NASDAQ:MSTR) stock lost 20.07% last wee...

Conservative Brazilians heaped praise Sunday on Elon Musk at a rally in support of far-right former President Jair Bolsonaro, whose legal troubles are mounting in tandem with the billionaire entrepreneur's feud with the South American nation's Supreme Court. “Brazil Thanks Elon Musk,” read one giant sign in English at the rally alongside Copacabana beach in the seaside city of Rio de Janeiro...

TSLA stock has plunged to 52-week lows, with Elon Musk's plans for future EVs key for the Q1 earnings call. Tesla slashed EV and FSD prices...

(Bloomberg) -- Elon Musk’s underlings at Tesla Inc. are accustomed to chaos. It comes with the territory of working for a chief executive who sets exacting targets and often abruptly switches directions — whose biographer describes his more intense moods as “demon mode.”Most Read from BloombergTikTok to Remove Executive Tasked With Fending Off US ClaimsElon Musk’s Robotaxi Dreams Plunge Tesla Into ChaosTesla Spends Weekend Cutting Prices of Cars and FSD SoftwareThe Fed’s Forecasting Method Looks...