Business

Elon Musk Faces a Series of Setbacks Across His Companies 2023 has not been an easy year for billionaire entrepreneur Elon Musk, as his companies have faced a string of challenges in recent months. The year started off with Tesla’s valuation plummeting by a staggering $188 billion, raising concerns about a potential slowdown in electric vehicle (EV) sales. Under Musk’s …

Jeff Bezos, the former CEO of Amazon.com, has made headlines once again for selling a significant amount of Amazon shares. In the past few trading days, Bezos has sold $2.4 billion worth of shares, adding to the $8.5 billion he has already sold this month. According to reports, Bezos sold about 14 million shares of Amazon stock at prices ranging …

On Wednesday, U.S. stocks experienced their third consecutive day of losses, with the Dow Jones Industrial Average dropping 88 points, the S&P 500 slipping 0.3%, and the Nasdaq Composite sliding 0.7%. Traders are particularly focused on Nvidia’s upcoming quarterly earnings report, as concerns about the chipmaker’s high valuation have been mounting due to its impressive 230% surge in shares over …

Best Buy Presidents Day Sale: Massive Discounts on Tech, Appliances, and More This Presidents Day, Best Buy is offering a blowout sale with deep discounts on a wide range of products including tablets, laptops, kitchen items, TVs, washing machines, and more. The sale features some of the best offers on popular items such as the Dell Inspiron 2-in-1 laptop and …

DoorDash Exceeds Delivery Order Estimates, but Shares Tumble DoorDash Inc., the popular food delivery platform, has surpassed analysts’ expectations with its impressive performance in the fourth quarter. The company reported a 23% increase in total delivery orders, reaching a staggering 574 million. Moreover, the gross value of these orders jumped 22% to $17.6 billion, surpassing even Wall Street’s estimates. Despite …

Stellantis, the global auto giant, faced a 10% decline in profit during the second half of 2023 due to strikes at Detroit Three automakers, which disrupted production in North America. The company reported adjusted operating income of 10.2 billion euros for the July-to-December period, down from 11.3 billion euros in the same period in 2022. However, the earnings were more …

Title: Elon Musk Transfers Neuralink’s Operations to Nevada, Distancing from Delaware In a surprising move, Elon Musk has relocated his innovative brain implant company, Neuralink, from its previous headquarters in Delaware to Nevada. This shift comes as a response to a series of legal setbacks in Delaware, including a judge’s decision to reject Musk’s formidable $55 billion pay package. Expressing …

Federal Court Enforces Subpoena for Elon Musk’s Testimony in SEC Investigation In a recent development, a federal court in California has enforced a subpoena requiring Tesla CEO, Elon Musk, to testify before the US Securities and Exchange Commission (SEC) regarding potential violations of federal securities laws. The court ruled that the evidence gathered is relevant and material to the SEC’s …

Title: Pandemic Exacerbates Wealth Inequality, Widening Racial Disparities In a sad revelation of the pandemic’s impact on wealth inequality, new data from the New York Federal Reserve Bank indicates that white individuals have experienced greater gains in net worth compared to their Black and Hispanic counterparts. According to the findings, the gap between racial and ethnic groups has significantly widened …

Title: Americans Celebrate National Pizza Day with Deals and Delicious Slices National Pizza Day, a day dedicated to celebrating the beloved food that holds a special place in the hearts of Americans, is just around the corner. Pizza has become a staple in many households, with approximately 1 in 8 Americans indulging in a slice of pizza on any given …