Tesla Inc suppliers are gearing up for more price cuts from Chief Executive Elon Musk and his team after the electric car maker cut down on prices of its vehicles aggressively in a slowing economy, according to industry officials who work with the automaker and its suppliers. Last month’s comments by Tesla Chief Financial Officer Zach Kirkhorn…
Samsung Electronics Co Ltd. of South Korea said on Tuesday that it has no plans to reduce its investment in semiconductors this year, despite the fact that the industry is experiencing its worst slowdown in more than a decade due to a weak global economy. The guidance defies a general industry tendency to cut back…
According to his former boss at food group Heinz, incoming Unilever CEO Hein Schumacher gets seasick, but that hasn’t stopped him from joining and sticking with executive sailing trips. “Every year, I’d bring nine of our most promising executives to Florida – just me and them, not their bosses. One year, we were on a…
Following the meltdown of crypto exchange FTX last year, that resulted in billions of dollars in losses for millions of investors, Britain’s finance ministry is planning “robust” regulations for crypto assets. Globally, cryptocurrency is currently unregulated, with firms only required to conduct checks to prevent money laundering. However, the Financial Conduct Authority (FCA) of the United Kingdom…
The employees who have lost their jobs as a result of the demise of regional airline Flybe should apply for positions with EasyJet and Ryanair, according to the two budget airlines. Flybe went into administration on Saturday, laying off 277 people. The British Airline Pilots’ Association (Balpa) said it received phone calls from concerned Flybe…
Gautam Adani, Asia’s richest man’s company has published a detailed rebuttal to allegations of wrongdoing made by short seller Hindenburg Research. Adani Group describes the report as a “calculated attack on India” in a 400-page document. Later that day, Hindenburg stated that “Adani failed to specifically answer 62 of our 88 questions” in the report. Last week,…
According to Wall Street analysts, Mastercard Inc and Visa Inc will rely on China reopening to boost travel spending as the pace of growth in other parts of the world slows from a post-pandemic boom. Executives from payment companies said on Thursday that there is still room for travel recovery in China, which reopened its…
Elon Musk told jurors on Monday that he was confident he had secured financial backing from Saudi investors in 2018 to take Tesla Inc private, and that he could even have used his stake in rocket company SpaceX to fund a buyout. During a five-hour trial in federal court in San Francisco, the billionaire, who…
The commerce minister of India has claimed that the iPhone maker Apple Inc. is planning to manufacture a quarter of all its iPhones in India. Apple is “another success story” for India, said Piyush Goyal, India’s minister of commerce and industry, while highlighting the success of the fifth-largest economy of the world. “They’re [Apple] already…
A French court has directed Uber to pay roughly 17 million euros ($18.43 million) in damages and lost wages to a community of drivers who contended they should have been regarded as employees instead of being regarded as being self-employed, according to reports quoting information from both the company and the representatives of the drivers involved…
business-gurus.com 