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12/13/2024
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By Lance D Johnson
DOGE faces monumental task as U.S. budget deficit SOARS TO RECORD HIGH going into 2025
The U.S. budget deficit has reached unprecedented levels, with November spending at a record-high $584.2 billion, marking a 14 percent increase from the previous year. The Biden administration’s fiscal policies are criticized for exacerbating the financial situation, leading to a potential collapse of the U.S. monetary system. Government spending on health, defense, and Social Security […]
05/01/2024
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By Arsenio Toledo
Elon Musk shuts down Tesla’s profitable Supercharger team in latest round of layoffs
Elon Musk has shut down Tesla’s division that runs the Supercharger business in the latest round of layoffs that is expected to reduce the electric vehicle manufacturing giant’s workforce by more than 10 percent. The shutdown of the Supercharger division includes the dismissal of two senior executives and several hundred other staffers amid an ongoing […]
04/18/2024
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By Laura Harris
Tesla plans to lay off 10% of workforce after dismal quarterly sales
Tesla has announced its plan to lay off approximately ten percent of its workforce after the release of its dismal first-quarter sales report. In that quarter, Tesla experienced a significant decline in sales due to heightened global competition, a slowdown in electric vehicle sales growth and unsuccessful attempts to attract more buyers, including with price reductions. Tesla has […]
03/26/2024
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By Laura Harris
REPORT: Combined wealth of American billionaires has skyrocketed by 87.6% since the COVID-19 pandemic
A recent Inequality.org report reveals that the combined wealth of American billionaires has skyrocketed by 87.6 percent since the onset of the Wuhan coronavirus (COVID-19) pandemic in March 2020. According to the report, the total wealth of American billionaires has reached a staggering $5.53 trillion as of March 18. The windfall has primarily benefited titans of the tech industry, with […]
03/07/2024
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By Arsenio Toledo
Jeff Bezos regains title of world’s richest person, overtaking Elon Musk for the first time since 2021
Amazon founder Jeff Bezos is once again the richest person in the world, after the tech giant’s net worth surpassed that of Tesla CEO and Twitter (now X) owner Elon Musk for the first time since the fall of 2021. This is according to the Bloomberg Billionaires Index, which reported on Monday, March 4, that Bezos’ […]
01/23/2024
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By Olivia Cook
Car rental company SIXT drops Tesla EVs from its fleet due to poor resale value, high repair costs
Car rental company SIXT has announced that it would drop Teslas from its electric vehicle (EV) fleet due to poor resale value and high repair costs. In an email to customers obtained by Bloomberg, the company cited higher repair costs for EVs compared to gas-powered counterparts as a main reason for the move. These higher […]
08/03/2023
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By Arsenio Toledo
Twitter parent company X Corp sues Center for Countering Digital Hate over “scare campaign” that drove away advertisers
X Corp., the parent company of X, formerly known as Twitter, is suing the Center for Countering Digital Hate (CCDH) over claims that the group “embarked on a scare campaign.” The company claims that it lost tens of millions of dollars worth of potential advertising revenue after CCDH alleged that Elon Musk’s takeover of the social media […]
08/01/2023
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By Cassie B.
San Francisco authorities tear down Elon Musk’s flashing “X” sign on Twitter headquarters
Authorities in San Francisco have torn down a bright flashing “X” sign that was recently placed on the building housing Twitter’s headquarters, citing safety concerns and complaints by neighbors. The company is currently being rebranded by new owner Elon Musk, and the sign was part of that effort. However, the city claims that the sign […]
06/01/2023
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By Arsenio Toledo
SHRINKING BIRD: Twitter now worth just one-third of what Elon Musk paid to purchase it
Twitter is now valued at just about one-third of what owner Elon Musk paid for it last year, according to a financial services company. Billionaire and tech giant Musk took over the social media platform in October 2022 by paying a whopping $44 billion for the company, including $33.5 billion paid in equity. Now, Boston-based financial services […]
02/23/2023
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By Kevin Hughes
PAY UP! Elon Musk-led Twitter now facing more than $14M in unpaid bills
Social media giant Twitter – now led by Elon Musk – is now barraged by lawsuits demanding that it pay its bills amounting to more than $14 million plus interest. At least nine lawsuits were filed by landlords, consultants and vendors who, in the past months, have demanded payments. The suits came amid the company […]
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