Apple Abandons Electric Car Efforts, , Reports Say.
Apple's electric vehicle (EV) project, known to insiders as "Project Titan," has reportedly come to an end, according to CNN.
.
Apple's electric vehicle (EV) project, known to insiders as "Project Titan," has reportedly come to an end, according to CNN.
.
Employees who were working on
the project, which has likely been in development for at least 10 years, .
Will reportedly transfer to Apple's AI division.
.
The tech giant is following a trend,
with investors’ enthusiasm for electric
vehicle investments waning, amid
the frenzy for all things AI.
, Susannah Streeter, head of money and markets at U.K.-based
investing platform Hargreaves Lansdown, via CNN.
It’s vital that Apple stays one step
ahead in developing the tech people crave,
to justify its products’ high price points,
so fully exploring the opportunities AI
presents for its future ranges is essential, Susannah Streeter, head of money and markets at U.K.-based
investing platform Hargreaves Lansdown, via CNN.
While Apple never officially
confirmed its EV aspirations, .
It obtained several vehicle-related patents
and hired automotive executives over
the years, among other things.
In 2020, Elon Musk even said that he
once tried to sell Tesla to Apple.
.
Meanwhile, iPhone manufacturer
Foxconn revealed plans to produce EVs, .
Meanwhile, iPhone manufacturer
Foxconn revealed plans to produce EVs, .
With CEO Young Liu telling CNN that the business model for such vehicles "should be reinvented."
We now know when the innies of 'Severance' will return to the office. Apple just revealed that season two of the workplace thriller will premiere on January 17th, 2025. The 10-episode season will be released weekly through March 21st, 2025. Along with the date announcement, the streamer shared a short teaser for the new season.
Credit: The Hollywood Reporter Duration: 01:09Published
Amazon Reaches $2 Trillion , in Stock Market Value.
On June 26, Amazon became the 5th American company to join the $2 trillion club, NPR reports. .
Amazon shares ended the day up nearly 4%, giving the company a $2.01 trillion stock market valuation. .
Within the past year,
Amazon's stock has gained 52%.
Part of that gain can be attributed
to investors' enthusiasm about the
company's AI endeavors, NPR reports. .
A big part of the valuation boost has
been cloud and AI. Amazon is going to
be a major player in the AI revolution, Dan Ives, Wedbush tech analyst, via NPR.
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon currently has a chatbot called Q, which businesses that use AWS have access to. .
Amazon CEO Andy Jassy recently said that
AI has rejuvenated the growth of AWS.
The cloud computing unit is reportedly on pace to bring in $100 billion in annual revenue.
Amazon recently invested in Anthropic, a California
AI company, "to develop so-called foundation models
that underpin generative AI systems," NPR reports. .
Amazon also makes its own AI chips.
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia. .
The other four U.S. companies that
belong to the $2 trillion club are
Google, Microsoft, Apple and Nvidia.
Credit: Wibbitz Top Stories Duration: 01:30Published
European Union Announces , Higher Tariffs on Chinese EVs.
On June 12, the EU said it will
impose higher tariffs on imports of
Chinese electric vehicles (EVs), CNBC reports. .
The increase in tariffs is the result of a
probe launched by the EU in October.
According to the EU, the Chinese imports benefit "heavily from unfair subsidies" and threaten "economic injury" to European EV producers.
The influx of subsidized Chinese imports
at artificially low prices therefore
presents a threat of clearly foreseeable
and imminent injury to EU industry, European Commission, via statement.
A 38.1% tariff will be imposed on battery electric vehicle producers who refused to cooperate with the bloc's investigation.
A 21% tariff will be implemented for carmakers in China who complied
but have yet to be "sampled.".
On June 11, a spokesperson for China's Ministry of Commerce called the higher
tariffs a "protectionist act.".
The findings disclosed in the EU
ruling lack factual and legal basis, Spokesperson for China's Ministry of Commerce, via statement.
This is a naked protectionist act,
creating and escalating trade
frictions, and 'destroying fair
competition' in the name of
'maintaining fair competition.' , Spokesperson for China's Ministry of Commerce, via statement.
This move by the EU not only damages the
legitimate rights and interests of China’s
electric vehicle industry, but will also disrupt
and distort the global automotive industry
chain supply chain, including the EU, Spokesperson for China's Ministry of Commerce, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Trump Promises to Stop , All Electric Car Sales.
In an effort to be reelected
as President of the Unites States.
Trump is promising oil and gas execs that
he'll keep electric vehicles (EVs) from being sold in the U.S. if they make significant donations to his campaign, Gizmodo reports. .
Trump said that he'd lower tailpipe emissions targets and cut EV tax credits, among other things. .
"You won't be able to sell those cars," Trump said.
However, the EV market continues to grow, with
at least 1.5 million units expected to sell in 2024.
If Trump squashes EV sales in the U.S., it could anger some Republicans since the market has provided more jobs and investments in the South.
For example, Hyundai is investing
$13 billion in Georgia, a state Trump lost
in 2020, to produce electric vehicles.
Meanwhile, analysts predict EV sales will continue to rise despite Trump's efforts.
Although, his tactics could prove
to slow those sales dramatically. .
Ford Motor executive chair
William Clay Ford Jr. weighed
in on Trump's promises.
Our time frame as a company,
our planning time frame, is a lot
longer than election cycles, William Clay Ford Jr., via statement.
When we’re whipsawed back
and forth by politicians that
becomes really difficult for us, William Clay Ford Jr., via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk is putting his money where his mouth is ... pumping $45 million a month into a political action committee backing Donald Trump in the 2024 presidential.. TMZ.com
Donald Trump was shot at today during an election rally in Pennsylvania. The former US President is reported to be safe and recuperating under medical care. However, conflicting reports are emerging about the incident. While Trump asserts that he was shot with a bullet that pierced the upper part of his right ear, law enforcement officials claim he was hit by glass fragments, possibly from a teleprompter broken by the bullets. This discrepancy has fueled conspiracy theories, with some social media users calling the event a staged 'photo op' for sympathy and votes. President Biden has condemned the attack as "sick," and tech mogul Elon Musk has publicly endorsed Trump following the incident. The true details of what happened remain under investigation.
#TrumpShooting
#Election2024
#GlassOrBullet
#ConspiracyTheories
#TrumpRally
#PoliticalNews
#BreakingNews
#DonaldTrump
#USPolitics
~HT.97~PR.274~
Supreme Court Rules , Against SEC's Authority, to Impose Fines.
NPR reports that the United States Supreme Court
recently voted 6-3 against the Securities and
Exchange Commission's policy on fraudulent conduct. .
NPR reports that the United States Supreme Court
recently voted 6-3 against the Securities and
Exchange Commission's policy on fraudulent conduct. .
Chief Justice John Roberts, writing for the court's
conservative majority, said the current rules deprive accused
transgressors of their constitutional right to a jury trial. .
Chief Justice John Roberts, writing for the court's
conservative majority, said the current rules deprive accused
transgressors of their constitutional right to a jury trial. .
The SEC relies on administrative
law judges (ALJ) to make legal conclusions
in cases brought before the agency.
The Supreme Court's decision has the potential
to send ripples through dozens of agencies,
from labor rights to energy regulation.
The Court did exclude from its decision those
agencies dealing with federal benefits, while some
conservative justices wanted the ruling to go further.
The three liberal justices
in dissent blasted the
decision by the majority. .
The case was brought by a former conservative
radio host and hedge fund manager, George Jarkesy,
following an SEC fraud investigation.
The case was brought by a former conservative
radio host and hedge fund manager, George Jarkesy,
following an SEC fraud investigation.
An in-house evidentiary hearing fined Jarkesy $300,000,
ordered him to pay back almost $700,000 in ill-gotten
profits and barred him from the securities industry.
Jarkesy argued that he was entitled to a jury trial
held in a federal court and that Congress lacked
the power to delegate such authority to the SEC.
NPR reports that Jarkesy's case was supported
by a number of conservative and business groups, and individuals such as Elon Musk.
NPR reports that Jarkesy's case was supported
by a number of conservative and business groups, and individuals such as Elon Musk
Credit: Wibbitz Top Stories Duration: 01:31Published
Britain Overtakes France , to Reclaim Stock Market Crown.
The overall value of listings on the
London Stock Exchange (LSE) reached
$3.18 trillion on June 17, BBC reports.
That number surpassed the
$3.13 trillion value of companies listed
in France, according to Bloomberg data. .
While both valuations have fluctuated
since June 17, they remain close.
Analysts consider the development
to be a milestone, BBC reports. .
The French market has dipped due to uncertainty surrounding France's election, analysts say. .
Earlier this month, French President
Emmanuel Macron called a snap election following the
National Rally's victory in the European elections.
Earlier this month, French President
Emmanuel Macron called a snap election following the
National Rally's victory in the European elections.
Susannah Streeter, head of Hargreaves Lansdown's money and markets, said that the right-wing party's manifesto supports "unfunded spending.".
"They are not so focused about
winning over the market," she said.
In 2016, the LSE was worth nearly
$1.4 trillion more than its French rival.
It held its position as Europe's largest stock market for several years before being overtaken in November 2022
Credit: Wibbitz Top Stories Duration: 01:30Published
Elon Musk , Welcomes 12th Child.
Musk and Neuralink executive Shivon Zilis welcomed their third child together earlier this year, CBS News reports.
Musk recently confirmed the birth in a
'New York Post' interview but didn't
share the baby's name or sex.
He also addressed rumors
that the birth was a secret.
As for 'secretly fathered,'
that is also false. , Elon Musk, to the 'New York Post'.
All our friends and family know. Failure
to issue a press release, which would
be bizarre, does not mean 'secret.', Elon Musk, to the 'New York Post'.
Musk and Zilis also had twins in 2021,
months before the Tesla and SpaceX CEO
had a second child with Grimes.
Musk and Zilis also had twins in 2021,
months before the Tesla and SpaceX CEO
had a second child with Grimes.
He had a third child with Grimes in 2023.
In a 2022 tweet, Musk said that declining
birth rates represent "the biggest
danger civilization faces by far.".
He also said, "Doing my best to
help the underpopulation crisis.".
Many countries are already well
below replacement rate, and the
trend is that almost all will be. This is
simply a fact, not a 'debunked theory.', Elon Musk, to the 'New York Post'.
Musk also fathered six children with
Justine Wilson, although they lost their first child to Sudden Infant Death Syndrome (SIDS).
He was married to the
Canadian author from 2000 to 2008
Credit: Wibbitz Top Stories Duration: 01:30Published
Musk Threatens Ban , After Apple Announces , OpenAI Partnership.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
Reuters reports that Elon Musk has threatened to
ban Apple devices at his companies if the iPhone
producer goes forward with plans to integrate OpenAI.
That is an
unacceptable
security violation, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
And visitors will have to
check their Apple devices
at the door, where they will
be stored in a Faraday cage, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
On June 10, Apple announced a number of
new AI features to be introduced across
the company's apps and operating platforms. .
Apple also announced a new partnership
with OpenAI that will see ChatGPT technology
added to all of the company's devices.
According to Apple,
privacy was "at the core"
of its efforts to integrate AI.
It's patently absurd that
Apple isn't smart enough
to make their own AI, yet is
somehow capable of ensuring
that OpenAI will protect
your security & privacy!, Elon Musk, CEO of Tesla & SpaceX, via Reuters.
Previously, Musk sued OpenAI and its CEO Sam Altman
for abandoning the company's original mission to create
AI for the betterment of humanity rather than profit.
Previously, Musk sued OpenAI and its CEO Sam Altman
for abandoning the company's original mission to create
AI for the betterment of humanity rather than profit.
Following the legal challenge, Musk started his own startup, xAI, to challenge OpenAI with an alternative to the popular chatbot ChatGPT.
Following the legal challenge, Musk started his own startup, xAI, to challenge OpenAI with an alternative to the popular chatbot ChatGPT.
Reuters reports that Musk's xAI has been
valued at $24 billion, after raising $6 billion in
series B funding during its last funding round
Credit: Wibbitz Top Stories Duration: 01:30Published
Hertz Sells Teslas for $25,000 , Amid EV Slump.
Hertz Sells Teslas for $25,000 , Amid EV Slump.
Hertz Global Holdings has been trying
to unload Teslas since January.
The move comes after Hertz
revealed plans to buy hundreds of
thousands of electric vehicles (EVs) in 2021.
Our EVs can be found nationwide
in most major metros and
averaging around $25,000, Hertz spokesperson, via email to CNBC.
The sale reflects the EV market's
waning pace of growth.
Even though sales of electric vehicles have "more than quadrupled from 2020 to 2023,".
automakers are currently more concerned about selling hybrids, CNBC reports. .
So if you've been eyeing a Tesla for a
while but waiting for a more manageable price, Hertz' sale may be your answer.
Hertz-certified vehicles undergo
a 115-point inspection and come with
a 12-month/12,000 mile warranty.
Some used EVs are also eligible for tax credits.
Used car expert Yossi Levi offered tips
for purchasing used electric vehicles.
The best bang for the buck
for consumers in the market today,
bar none, is the used electric vehicle.
And the best-value purchase
is likely a three-year-old EV, Yossi Levi, Car Dealership Guy, via CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Some Early Tesla Bulls , Are Ditching the Stock.
Reuters reports that Tesla's shares
are down about 30% this year.
Since 2021, shares have fallen
over 50%, causing the company to
lose $600 billion in market value. .
Q1 results fell short of analysts' expectations.
As a result, many of Tesla's
institutional shareholders are saying
goodbye to the stock, Reuters reports. .
Gabelli Funds sold all of
its 65,900 shares in Q1. .
It started to feel like the
fundamentals were becoming
detached from reality. , John Belton, a portfolio manager at Gabelli Funds, via NPR .
We think the stock works best when
there are auto company fundamentals
that justify the stock price, John Belton, a portfolio manager at Gabelli Funds, via NPR .
Ross Gerber of Gerber Kawasaki Wealth
& Investment Management has sold
about 200,000 Tesla shares this year. .
I think the story is over,
is the best way to say it, Ross Gerber of Gerber Kawasaki Wealth
& Investment Management, via NPR.
Over the last year and a half, Elon’s
personal quests based on the way that
he sees the world have superseded the
interests of Tesla and its shareholders, Ross Gerber of Gerber Kawasaki Wealth
& Investment Management, via NPR.
However, not all of Wall Street
has given up on the stock.
Five mutual funds tracked by Morningstar
increased their Tesla shares last quarter,
and 19 analysts have given Tesla a "buy" or "strong buy" rating, Reuters reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
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