Category: Business & Economy

Elon Musk Rebuffs Bill Gates’s Climate ‘Philanthropy’ Request in Scathing Text

Elon Musk has said he confronted fellow billionaire Bill Gates over the Microsoft founder’s supposed holding of roughly $500 million in Tesla shorts in a series of testy text messages in which Musk rebuffed Gates’s request to discuss climate change philanthropy. In an April 22 Twitter post, Musk confirmed the veracity of a text message…


Elon Musk Rebuffs Bill Gates’ Climate ‘Philanthropy’ Request in Scathing Text

Elon Musk said he had confronted fellow billionaire Bill Gates over the Microsoft founder’s supposed holding of some $500 million in Tesla shorts in a series of testy text messages in which Musk rebuffed Gates’ request to discuss climate change philanthropy. In an April 22 tweet, Musk confirmed the veracity of a text message exchange…


Indonesia to Suspend Exports of Cooking Oil to Tackle Domestic Shortage

Indonesia will ban the export of cooking oil and its raw materials from April 28 to tackle domestic shortages and control surging cooking oil costs, President Joko Widodo said Friday. “I will monitor and evaluate the implementation of this policy so [that] availability of cooking oil in the domestic market becomes abundant and affordable,” the…


Russia-Ukraine War Accelerates Collapse of China’s Belt and Road Global Strategy

Over the past ten years, China’s Communist Party (CCP) has strategically relied on its $4 trillion Belt and Road Initiative (BRI) to boost its image and influence with at least 149 countries to date. But success has eluded its efforts, and the BRI strategy may be doomed as a result. Consider for example the CCP’s…


Disney Has Lost $34 Billion in Value Since Embarking on Culture War With Florida

Disney’s market cap has shrunk by nearly $34 billion since the company expressed its full-throated opposition to a Florida law banning instruction of gender identity and sexual orientation in public schools for kindergarten through third grade. Florida lawmakers in March passed HB 1557, dubbed by opponents as the “Don’t Say Gay” bill, which was signed…


SpaceX’s Starlink Inks First In-flight WiFi Deal

WASHINGTON—SpaceX signed its first deal with an air carrier to provide in-flight wireless internet using the Starlink satellite network, the space company said on Thursday as it jockeys with other burgeoning satellite firms to put high-speed internet on commercial airlines. The company, owned by Tesla Chief Executive Elon Musk, has been in talks for months…


Japan March Consumer Prices Rise at Fastest Pace in Over 2 Years

TOKYO—Japan’s core consumer prices rose at the fastest pace in more than two years in March, raising worries higher energy and food costs could increasingly take a toll on households’ purchasing power. The core consumer price index (CPI), which excludes volatile fresh food prices but includes fuel and broader energy costs, jumped 0.8 percent in…


Honda to Slash Production by 50 Percent at Domestic Plant in Early May

TOKYO—Honda Motor Co. is planning to cut production by about 50 percent on two lines of one of its domestic factories in early May due to chip shortages and COVID-19 lockdowns, the company said on Thursday. The factory in the city of Suzuka will also slash its production by half for the month of April,…


American Grocery Stores Hit Hard by Rising Inflation

With prices of commodities rising due to the COVID-19 pandemic and supply chain disruptions, inflation has hit grocery stores across the United States as brands increase product prices to prevent corporate profits from being squeezed. P&G, which sells skincare products, shampoo, diapers, and toothpaste, raised product prices by 5 percent to achieve 10 percent sales…


Crypto Miner BitRiver Sanctioned by US Over Russian Operations: Bloomberg

The U.S. Treasury Department sanctioned crypto mining firm BitRiver, targeting one of the industry’s top data-center service providers over its operations in Russia, Bloomberg reported. The Swiss-based company BitRiver provides Bitcoin miners worldwide with energy sources, mining facilities, and large-scale management solutions, including those in Eastern Europe and Russia. Treasury announced restrictions on BitRiver, including 10…