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It’s not been the greatest start to the year for Elon Musk.Tesla’s valuation has tumbled by about $188 billion as investors fret about a slowdown in EV sales.Advertisers have fled X, while SpaceX has bickered with Ukraine over Russian use of Starlink terminals. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app It’s not been the greatest start to the year for Elon Musk.The world’s richest person has faced problems at Tesla, SpaceX and X, ranging from a tanking Tesla valuation to an X advertiser exodus.Here’s a look at…
Summary · Lion Electric provides multiple all-electric vehicles to school bus and truck fleet owners in the United States and Canada · The total addressable U.S. market for school buses and medium and heavy-duty trucks is $110 billion annually combined · Lion Electric is growing rapidly but continues to be highly unprofitable and is burning through its cash · The company has the backing of some very patient investors. · If Lion Electric continues to struggle financially, it could become a desirable takeover target for a larger company such as Blue Bird Corp. Lion Electric $1.38 (NYSE:LEV) manufacturers purpose-built all-electric…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US will set up a port on the Gaza coast for large ships carrying humanitarian supplies, senior administration officials said on Thursday, following weeks of frustration over Israel’s failure to allow more aid into the enclave.President Joe Biden will announce the decision during his State of the Union address on Thursday evening, as well as the opening of a new land crossing into war-torn northern Gaza in the coming week to deliver assistance by truck.“The president will announce that he’s directing…
Sen. Bob Menendez and his wife will be arraigned on Monday on new charges that they tried to obstruct the federal investigation into bribery allegations. Judge Sidney Stein set the arraignment for the Menendezes and two other New Jersey businessmen for 11 a.m. ET. The Democratic senator from New Jersey was indicted earlier this week on 12 new felony charges including bribery and extortion. Prosecutors alleged he caused his lawyers to provide false information during interviews with authorities, including claiming that the alleged bribe payments were loans. He and the three other defendants previously pleaded not guilty to charges of…
By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank loans in China jumped by more than expected to an all-time high in January, as the central bank moved to shore up the sputtering economy, reinforcing expectations for more stimulus in the coming months. Policymakers have pledged to roll out further measures to support the weaker-than-expected post-COVID recovery in the world’s second-largest economy, amid a deep property crisis and prolonged stock market rout. Chinese lenders tend to front-load loans at the beginning of the year to get higher-quality customers and win market share. Banks extended 4.92 trillion yuan ($683.7 billion)…
A call to scrap tax breaks for retirement plans and use the savings to shore up Social Security has some in the financial services industry up in arms. But the question is not whether the U.S. retirement savings system is costly, complex, and ineffective at boosting savings. It’s all of those things. The only question is what should replace it. Retirement policy discussions are usually not the stuff of impassioned debates. This changed recently. Two retirement experts, Andrew Biggs from the center-right American Enterprise Institute, and Alicia Munnell, director of the Center for Retirement Research at Boston College created a…
When I started my side hustle, I didn’t have a mentor, a big social media following, or any startup capital. I just had a drive to help people find great careers, and advice from some of my favorite books. In 2022, I quit my six-figure recruiting job at Amazon to grow my YouTube channel and launch my business, PayBump. I make videos about remote work and unique income streams, and create kits to help people make their resumes and cover letters shine.Today, my business brings in $143,000 a month in passive income, mostly from digital product sales and YouTube ad revenue.…
This week, bill pay service doxo released its annual Household Bill Pay report, which breaks down how much the average U.S. household spends on essentials, including auto loans, utilities, health insurance, mortgages, and rent.The report found that 32% of American households pay rent and that their average monthly cost is $1,300.According to doxo’s report, the five states with the highest rent costs also have the highest mortgage costs. This shows that housing continues to be the highest U.S. household expense for many Americans. For its ranking, doxo used data from the U.S. Census Bureau. The U.S. state with the highest…
Germany’s biggest airline has warned that ongoing strikes by thousands of its ground staff and airport workers could hurt its earnings this quarter, after walkouts earlier this year already cost the company more than $100 million. Lufthansa Group, which owns German flag carrier Lufthansa and several smaller airlines including Austrian Airlines and Eurowings, said Thursday that it expected to suffer a bigger operating loss in the first three months of 2024 than a year ago, partly because of the industrial action. Strikes by Lufthansa’s ground staff over the past few weeks have so far cost the company nearly €100 million…
