Tesla cuts 285 jobs at South Buffalo plant
Tesla cuts 285 jobs at South Buffalo plant
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TechCrunchTesla profits drop 55%, company says EV sales 'under pressure' from hybrids
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and "several unforeseen challenges" cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Tesla reported operating income of $1.2 billion in the first quarter, a 54% decrease from the same year-ago period.
- TechCrunch
TechCrunch Minute: Tesla's Cybertruck recall, layoffs set the stage for its Q1 earnings
Tesla is not having a good start to the week. Today the news is that recent price cuts have irked Tesla investors, who sent its shares off around 4% in early trading today. Tesla's last week saw the company slash its staffing, including high-performers.
- TechCrunch
Tesla has spent $200K advertising on Elon Musk's X so far
Since then, Tesla ads have showed up in places like Google search results and on YouTube. Tesla also paid X around $50,000 in 2023 and $30,000 through February 2024 for "commercial, consulting and support agreements."
- Autoblog
Tesla is laying off more than 10% of staff globally as sales fall
Tesla will lay off more than 10% of its global workforce, an internal memo shows, as it grapples with falling sales and an intensifying price war for electric vehicles.
- Autoblog
Tesla stock slides following big Q1 delivery miss
Tesla stock is tumbling after the EV maker reported a significant delivery miss for the first quarter. The Q1 delivery report comes after Tesla warned in January that its vehicle volume growth rate would be "notably lower" than in 2023.
- Yahoo Finance
Investors look to Jay Powell for clarity on where rates are going
The Fed is expected to keep interest rates at a 23-year high Wednesday, but investors will be listening for any signs of how long they will have to wait before cuts can begin.
- Yahoo Finance Video
Whether Wall Street garden leaves survive non-compete ban is an 'open question'
Some 'garden leave' agreements that Wall Street uses to protect secrets are expected to survive the FTC's new non-compete ban, but some probably won't.
- Autoblog
Tesla lays off executives, cuts Supercharger division
Tesla fired two key executives and trimmed hundreds of staff, gutting its Supercharger program, a leaked email shows.
- Yahoo Finance
US consumer confidence hits lowest level since July 2022
Economic optimism from Americans fell sharply in April as inflation sticks around and the outlook on the job market sours.
- Autoblog
Tesla stock surges on 'watershed' 'Full Self-Driving' approval in China
Tesla (TSLA) stock soared on Monday following reports that CEO Elon Musk won Chinese approval to deploy the automaker’s Full Self-Driving (FSD) autonomous software on the mainland.
- Yahoo Sports
Legendary Notre Dame football coach Knute Rockne reburied on campus
Rockne had been buried at Highland Cemetery for 93 years.
- TechCrunch
Yelp is launching a new AI assistant to help you connect with businesses
Yelp announced a new AI-powered chatbot today for consumers that helps them connect with relevant businesses for their tasks. The company joins a long list of organizations leaning into AI chatbots as an assistive medium. Yelp said that the chatbot uses OpenAI's large language models (LLMs) along with its own data to ask users about their problems and connect them with relevant professionals for the job.
- Autoblog
Toyota Highlander plant gets $1.4B to build a new EV and battery packs
Toyota invests $1.3B in the plant building the Highlander for new three-row EV and battery pack assembly lines. Thought to be for an electric Higlander.
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33 Nordstrom new arrivals for April you don't want to miss, starting at just $15
I shop for a living and I'm lusting after these new Nordstrom finds from Ugg, Le Creuset, Adidas, Tory Burch, Spanx and more.
- Yahoo Life Shopping
Look sizzling this summer in Amazon's 10 most flattering one-piece swimsuits — they're all under $40
Make some serious waves in these bestselling bathing suits that will have you looking chic (yet stylishly covered).
- Engadget
Getir is getting out of everywhere but Turkey
Getir is getting out of most markets. On Monday, the “instant delivery” startup said it would exit the US, UK, Germany and the Netherlands to serve its Turkish home market exclusively.
- Yahoo Life Shopping
This 'powerful yet lightweight' $34 handheld car vacuum is 80% off at Amazon
At just over a pound, it's a 'surprisingly efficient' way to clean even the tightest spaces, fans say.
- TechCrunch
Getir pulls out of US, UK, Europe to focus on Turkey — 6,000+ jobs impacted
True to its business concept, Turkey's "instant delivery" juggernaut Getir rose quickly. On Monday, the company -- once valued close to $12 billion -- announced it would shut down its operations the U.S., the U.K. and Europe to focus solely on its home market of Turkey. The move puts a bitter end to the company's very aggressive expansion strategy that saw it raise billions of dollars to grow organically and also snap up a number of equally aggressive, yet struggling, competitors to position itself as the market leader.
- Yahoo Personal Finance
Mortgage rates today, April 28, 2024: Expect rates to stay high
These are today's mortgage rates. Rates likely won't drop for months, so if you want to buy now, you shouldn't hold out for lower rates. Lock in your rate now.
- TechCrunch
TikTok faces a ban in the US, Tesla profits drop and healthcare data leaks
TikTok's fate in the U.S. looks uncertain after President Joe Biden signed a bill that included a deadline for ByteDance, TikTok's parent company, to divest itself of TikTok within nine months or face a ban on distributing it in the U.S. Ivan writes about how the impact of TikTok bans in other countries could signal what’s to come stateside. California drones grounded: In more Amazon news, the tech giant confirmed that it's ending Prime Air drone delivery operations in Lockeford, California.