Tesla (TSLA) earnings Q1 2024

Tesla (TSLA) earnings Q1 2024

Elon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. Gonzalo Fuentes | Reuters Tesla reported a 9% drop in first-quarter revenue on Tuesday, the biggest decline since 2012, and missed analysts’ estimates, as the electric vehicle company weathers the effect of ongoing price cuts. The stock jumped in extended trading after CEO Elon Musk told investors that production of new affordable EV models could begin sooner than expected. Here’s...

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Oracle met with Senate aides on TikTok data housing project

Oracle met with Senate aides on TikTok data housing project

Oracle‘s top lobbyist in Washington met privately with Senate aides about the company’s data housing agreement with TikTok this spring, after a bill that could effectively ban the social media app in the United States passed the House in mid-March. Oracle acts as the data center for U.S. TikTok users. The House legislation would require TikTok’s China-based parent company ByteDance to divest the social media app, or face an eventual ban in the United States. “We had four meetings, primarily to discuss the technical mitigations” of the data storage project, said Oracle EVP Ken Glueck, who described the previously unreported...

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Unclaimed Baggage sells items in lost luggage at steep discounts

Unclaimed Baggage sells items in lost luggage at steep discounts

Live snakes, a mounted ram head, a Halloween card signed by Richard Nixon. Those are some of the most fascinating items found in lost luggage in 2023, according to a new report by Unclaimed Baggage, a store that buys lost items from airlines, sight unseen. The company also found a 13-foot vaulting pole, gruesome props from the “Saw” movie franchise, and a $12,000 pair of Louis Vuitton Nike Air Force 1 sneakers. Those items and more are detailed in the company’s first “Found Report: A Look Inside America’s Lost Luggage,” published April 1. “We thought it’d be fun for us...

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House passes Ukraine, Israel, Taiwan aid, potential TikTok ban

House passes Ukraine, Israel, Taiwan aid, potential TikTok ban

On Saturday, the House passed a series of bills to provide aid to Ukraine, Israel, and Taiwan, along with a package that included forcing the Chinese company ByteDance to sell TikTok. After a morning of debate on the House floor, the four bills will be wrapped into a single package and sent to the Senate for approval. After that, it will be sent to President Joe Biden to be signed into law. “I understand that it is not a perfect piece of legislation,” House Speaker Mike Johnson, R-La., said Saturday following the vote. “We would rather send bullets to the...

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All-out war, or measured retaliation?

All-out war, or measured retaliation?

A banner depicting missiles and drones flying past a torn Israeli flag, with text in Persian reading “the next slap will be harder” and in Hebrew “your next mistake will be the end of your fake state”, hangs on the facade of a building in Palestine Square in Tehran on April 14, 2024.  Atta Kenare | AFP | Getty Images Iran and Israel, regional archfoes, are trading attacks and threats — the latest of which saw Israel launch a “limited military strike” on Iran in the early hours of Friday morning, a source familiar with the situation told NBC News. ...

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TikTok doubles ad buy to fight potential U.S. ban in Congress

TikTok doubles ad buy to fight potential U.S. ban in Congress

Giovanna Gonzalez of Chicago demonstrates outside the U.S. Capitol following a press conference by TikTok creators to voice their opposition to the “Protecting Americans from Foreign Adversary Controlled Applications Act,” pending crackdown legislation on TikTok in the House of Representatives, on Capitol Hill in Washington, U.S., March 12, 2024.  Craig Hudson | Reuters TikTok more than doubled its ad spend to over $4.5 million in a campaign to combat a potential U.S. ban as Congress looks to fast-track legislation to push parent company ByteDance to divest the social media app. TikTok has spent over $2.5 million on television ads alone...

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ASML earnings drag semiconductor stocks lower

ASML earnings drag semiconductor stocks lower

Workers at Carl Zeiss ZMT are seen outside giant vacuum chambers where optical systems for ASML’s new High NA EUV tool are tested. ASML Chip stocks fell on Wednesday after ASML, a key developer of semiconductor manufacturing equipment, said that bookings fell by 61% sequentially during the first quarter, a steeper drop than investors had expected. During trading on Wednesday, AMD’s stock fell over 4%, Nvidia shares fell about 3%, Intel shares fell nearly 2% and Qualcomm was off 2%. But the biggest drop affected chip technology firm Arm, which was trading nearly 10% lower on Wednesday. ASML fell over...

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Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation

Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation

Federal Reserve Chair Jerome Powell speaks during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, D.C., on Dec. 13, 2023. Kevin Lamarque | Reuters Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way...

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Retail sales jumped 0.7% in March, much higher than expected

Retail sales jumped 0.7% in March, much higher than expected

Rising inflation in March didn’t deter consumers, who continued shopping at a more rapid pace than anticipated, the Commerce Department reported Monday. Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% rise though below the upwardly revised 0.9% in February, according to Census Bureau data that is adjusted for seasonality but not for inflation. The consumer price index increased 0.4% in March, the Labor Department reported last week in data that also was higher than the Wall Street outlook. That means consumers more than kept up with the pace of inflation,...

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Cuban spy Manuel Rocha plea deal raises fresh questions for claims holders

Cuban spy Manuel Rocha plea deal raises fresh questions for claims holders

The Miami Herald profiled former Ambassador V. Manuel Rocha in 2003 when he joined the firm of Steel Hector & Davis to help open doors in Latin America. Raul Rubiera | Miami Herald | Getty Images When Carolyn Lamb saw news of Cuban spy Victor Manuel Rocha’s arrest on the news last December, she recognized him immediately. It was the same man who had sat in her Omaha living room 17 years ago, trying to make a deal.  On Friday, Rocha, 73, was sentenced to 15 years in prison for acting as a foreign agent on behalf of the Cuban...

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