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Tesla CEO Elon Musk said on Wednesday Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide. Musk's comments come after Warren Buffett-backed BYD - with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite Tesla's deep price cuts through 2023. Chinese car companies were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established," Musk said on a post-earnings call with analysts on Wednesday...
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The stock market slashed intraday gains to close Wednesday mixed. Tesla fell late on earnings, 2024 guidance and CEO Elon Musk comments...
Continue ReadingEvery company wants to do things as quickly as possible. But there are times when you ought to hit the brakes...
Continue ReadingThe following are the top stories on the business pages of British newspapers. - AstraZeneca is seeking up to 100 million pounds in government support to expand a vaccine production facility in northwest England and plans to submit a formal application next month. - UK's communications regulator Ofcom said Royal Mail could save up to 650 million pounds ($825.83 million) if it delivered letters just three days a week and 200 million pounds by stopping Saturday deliveries in its review of the postal service...
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Continue ReadingHewlett Packard Enterprise disclosed Wednesday that suspected state-backed Russian hackers broke into its cloud-based email system and stole data from cybersecurity and other employees. The provider of information technology products and services said in a Securities and Exchange Commission regulatory filing that it was informed of the intrusion on Jan. 12. It said it believed the hackers were from Cozy Bear, a unit of Russia's SVR foreign intelligence service...
Continue ReadingThe electric-car maker reported net income doubled in the fourth quarter, largely due to a one-time tax benefit, while operating profits were down...
Continue Reading(Bloomberg) -- Tesla Inc., the company best known for electric vehicles, said its energy-storage division — the unit that makes utility and home batteries — will likely be its growth engine for rate of deployments and revenue in 2024. Most Read from BloombergUpbeat Musk Can’t Soothe Tesla Investors’ Fears About GrowthRussia Says Ukraine Downed Plane Carrying Prisoners for SwapHow Yemen’s Houthi Attacks Are Hurting the Global Supply ChainBillionaire Joe Lewis Pleads Guilty in Insider Trading Case...
Continue ReadingHP Enterprise said it has notified law enforcement about the incident, which hasn’t yet had a material impact on its operations...
Continue ReadingAt the moment the Zacks Computer-Software Industry is still in the top 40 percentile of over 250 Zacks industries with Blackbaud (BLKB), Microsoft (MSFT), and Trend Micro (TMICY) being three of the most recent winners to pay attention to...
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