Musk claims he was engaged in revitalizing Tesla while upholding his $56 bln package
Elon Musk, who was testifying in a Delaware court on Wednesday to refute claims that his $56 billion pay package was based on simple performance goals and approved by a compliant board of directors, claimed that he was entirely focused on Tesla (TSLA.O) in the year 2017 as the battery-powered vehicle manufacturer was in “crisis.”Musk, […]
In a long-awaited trial, Roche’s Alzheimer’s medicine falls short of its objective
A high-stakes race to introduce a treatment for the memory-robbing disease has rivals Biogen (BIIB.O) and Eisai (4523.T) leading the pack after Roche’s (ROG.S) Alzheimer’s medication prototype failed to show potential in two drug studies for slowing dementia progression.In a statement released on Monday, Roche claimed that the twin research findings known as Graduate 1 […]
Electric vehicle manufacturers struggle financially—struck by exorbitant prices
The soaring cost of raw materials and production means that every time Lucid Group Inc. (LCID.O) or Rivian Automotive Inc. (RIVN.O) sells an electric vehicle, they lose hundreds of thousands of dollars, according to their most recent earnings reports.Electric vehicle (EV) manufacturers’ quarterly reports from the last two weeks reveal that they are having difficulty […]
Japan’s authorities express concern regarding EV tax credits in the U.S.
On Saturday, the Japanese government issued a warning about new electrical vehicles tax incentives in the United States, saying they would ultimately discourage future Japanese investment there and hurt employment in the largest economy in the world. In a letter sent to the U.S. Treasury Department: The government expressed several reservations about the tax credits […]
Why are gas prices in Europe declining?
Over the past few months, benchmark gas prices in Europe have been progressively falling toward their pre-Ukraine war levels.Due to Russia cutting gas flows soon after the West-imposed strict sanctions in reaction to its assault on Ukraine in late February, Europe has been experiencing a shortage of energy this year.Dutch front-month gas, the European benchmark, […]
Rising oil prices due to supply issues
Early on Wednesday in Asian trading, oil prices increased, reversing losses from earlier in the session, as worries about restricted supply due to news of falling US stocks outweighed concerns about declining demand from one of the world’s leading oil importers China. By 900 GMT, Brent crude futures were up 73 cents, or 0.8%, at $90.76 per […]
More U.S. businesses charge workers for job training if they leave
Simran Bal was astonished to learn that a beauty salon in Washington State had charged her $1,900 for lessons after she had left. Bal claimed that the training was of low quality and was solely relevant to the shop because she was already a licenced esthetician and had no need for them. Bal’s tale is […]
U.S. struggles to avert supply chain disruption caused by China’s export restrictions on chips
Anonymous but well-informed sources revealed the U.S. is rushing to address unforeseen implications of its new export restrictions on China’s chip sector that could unintentionally affect the semiconductor supply chain. The South Korean memory tech giant SK Hynix Inc (000660.KS) claimed it had permission from the United States to acquire items for its chip manufacturing […]
Investors alarmed by Europe Inc.’s salary increases; recession concerns hike
Investors are alarmed by plans by European firms to raise wages and give one-time incentives to employees to assist them to get through a harsh winter. They are worried that the additional costs would affect profitability and hurt the region’s economy.Numerous businesses, including Stellantis and LVMH, are giving one-time incentives to the majority of their […]
TotalEnergies expedites wage negotiations at refineries due to fuel shortage
In response to union demands on Sunday, TotalEnergies (TTEF.PA) promised to move up salary negotiations to resolve a strike that delayed supplies to roughly a third of French gas stations and forced the government to use strategic reserves.The corporation suggests moving forward the start of the required annual pay talks to October, assuming the end […]