Speaking in conversation with U.K. Prime Minister Rishi Sunak, tech billionaire Elon Musk said that AI will has the potential to become the “most disruptive force in history.” Musk has on multiple occasions warned of the threats AI poses to humanity, most recently urging for a pause to development of AI more advanced than OpenAI’s … Read more
To hear the United Auto Workers’ fiery new president, Shawn Fain, tell it, Detroit’s largest automakers enjoyed years of lavish profits thanks to concessions made by its workers through the lean years before and after the 2009 recession. So as the UAW’s contract with the Big Three automakers expired in mid-September, the UAW authorized strikes … Read more
The US Could Become the Odd Market Out in the EV Success Story Bloomberg Source link
Good morning, it’s Georgie here in Sydney. Here’s what you need to know today… Today’s must-reads:• Lithium rush heats up with SQM’s $1 billion Azure buy• RBA staff threaten strike over pay• US stocks drop on a rout in Big Tech, Aussie futures flat Australia’s lithium frenzy continues with mining giant SQM winning over Perth-based … Read more
Japan’s carmakers are staging their first motor show in four years to make the case they’ll remain major global forces to be reckoned with in the electric-vehicle age. The rebadged Japan Mobility Show will be counter-programming of sorts to worrisome trends: the host country may well lose its position as the world’s top car exporter … Read more
New York CNN — Tesla reported a drop in third-quarter earnings as the electric vehicle maker fell short of Wall Street expectations. Tesla reported adjusted earnings of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years. Analysts surveyed by … Read more
The organizers of the 2024 Paris Olympics plan to start the event with a Seine River parade instead of a traditional opening ceremony. But this ambitious idea faces challenges, including what to do with the 950 iconic wooden bookstalls that line the quayside, known as Bouquinistes. These Bouquinistes are integral to Paris’s identity and their … Read more
JPMorgan’s Marko Kolanovic is bracing for a 20% sell-off to hit the S&P 500. According to the Institutional Investor hall-of-famer, high interest rates are creating a breaking point for stocks — and choosing cash at a 5.5% return in money market and short-term Treasurys is a key protection strategy right now. “I’m not sure how … Read more
Billionaire Elon Musk in typical fashion took to X, formerly known as Twitter, to announce his intention to attend Teknofest in Turkey next year. Turkish President Erdogan welcomed Musk’s commitment. The X conversation between the two was sparked by Musk extending his congratulations to the teams competing in Teknofest. The technology festival has evolved into … Read more
Arm, the U.K.-based company controlled by Japanese investment giant SoftBank, listed on New York’s Nasdaq on Thursday at an IPO price of $51 per share for a valuation of almost $60 billion. The initial buzz has since fizzled, with the stock suffering successive daily declines to close the Tuesday trading session at $55.17. Cathie Wood, … Read more