Author: Press Room
Key takeaways Tesla’s gross profit margin was down 19.3% while net income fell 24% Wall Street responded with a 9.8% share price drop for Tesla The carmaker slashed the prices of its EVs in a bid to maintain market share, a move which had boosted the stock earlier this year There’s no beating about the bush: Tesla’s earnings and profit margins are down by quite some margin, resulting in a bruising week for the Tesla share price and with investors doubtful about CEO Elon Musk’s price war strategy. It’s not been Elon’s best week after his SpaceX rocket ship also…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases have fallen for three key terms, while one rose since yesterday. Rates last updated on April 21, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot reviews…
LONDON — The collapse of Silicon Valley Bank was the result of a crisis in banking rather than technology, according to a top venture capitalist.Anne Glover, CEO and co-founder of Amadeus Capital, said Friday that the SVB crisis was caused by “utterly irresponsible” practices by Silicon Valley Bank and its management — namely, taking short-term deposits from VCs and investing them in long-maturity debt.”It is a banking one-on-one failure, unbelievably irresponsible frankly by the senior management of SVB in California,” said Glover, speaking at a tech investor showcase in east London. A spokesperson for SVB wasn’t immediately available for comment…
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Equities fall on earnings Stick with Halliburton Watch Humana 1. Equities fall on earnings Stocks edged down Friday morning, as corporate earnings continued to disappoint investors, with all three major U.S. indices on track for a week of losses. But Club holding Procter & Gamble (PG) proved a bright spot, delivering a top- and bottom-line beat for the quarter ended March 31. Shares of the consumer staples giant were trading 3.5% higher Friday, at $156.50…
Twitter users awoke Friday morning to even more chaos on the platform than they had become accustomed to in recent months under CEO Elon Musk after a wide-ranging rollback of blue check marks from celebrities, journalists and government agencies. The end of traditional verification marked the beginning of a radically different information regime on Twitter, one highlighted by almost immediate impersonations of government accounts; the removal of labels previously used to identify Chinese and Russian propaganda; and a scramble by the company to individually re-verify certain high-profile figures such as Pope Francis. A broad array of media organizations lost the…
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Founder and former CEO of now-defunct crypto exchange Thodex has been extradited to Turkey and was detained by police upon arrival in Istanbul.Faruk Fatih Ozer, who founded Thodex in 2017, was arrested in Albania last year after an Interpol red notice against him, according to a Thursday report by state media AA.com.The report detailed that the plane carrying Ozer took off from the Albanian capital of Tirana in the morning and landed at Istanbul Airport, where the Istanbul Airport Police Department took custody of Ozer. The detained founder is expected to undergo health check-ups and then will be taken to the Istanbul Police…
Identity and email management company Lockr raised $2.5 million in pre-seed funding this week. It provides an email solution for consumers and customer identity tools for publishers and marketers. Check out the pitch deck that convinced investors like Mozilla Ventures to join the funding round. Lockr, a digital identity management startup, said this week it had raised $2.5 million in pre-seed funding, investment it plans to use to grow its team, scale its userbase, and add more features to its consumer product.Tired of inboxes bulging with spam, consumers are increasingly using services like Apple’s Hide My Email, Firefox Relay, or…
Top US financial regulators on Friday announced a series of proposals to strengthen the process by which investment managers, insurers and other nonbank financial groups are swept into a more stringent regulatory regime. The new guidance from the US Financial Stability Oversight Council — a group of the country’s top financial regulators led by the Treasury department — details how it would go about singling out individual non-bank financial entities for supervision by the Federal Reserve, which would mean closer scrutiny. The designation would hinge on FSOC’s determining that “material financial distress at the company, or the nature, scope, size,…
Marking a rare combination of resources, supporters of gun regulations and anti-domestic violence groups joined Thursday to urge the Supreme Court to reverse a federal appeals court opinion they say will make it easier for domestic abusers to obtain firearms. The groups say the high court needs to step in now because lower courts are relying on one of the Supreme Court’s decisions on the Second Amendment from last term to reconsider thousands of firearm rules, including a federal law that bars an individual subject to a domestic violence restraining order from possessing a firearm. The Biden administration is appealing…
