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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 […]
01/23/2023
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By Cassie B.
Microsoft to cut 10,000 jobs in latest Big Tech layoffs
Microsoft has joined a wave of other tech companies in announcing mass layoffs, cutting around five percent of its overall workforce. A securities filing last week noted that they would be laying off 10,000 employees as part of a range of measures aimed at cutting costs in the wake of economic uncertainty. Ahead of the […]
01/19/2023
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By News Editors
These major companies are laying off workers at a huge rate
Large companies across various sectors are laying off workers at staggering rates, putting the state of the economy in question. (Article by Ronn Blitzer republished from FoxBusiness.com) Among the latest announcements is Microsoft, which said Wednesday the company plans to cut 10,000 workers after shares of Microsoft fell more than 20% during the past 12 months. An […]
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