Tesla Inc. chief executive officer Elon Musk has advised entrepreneurs to get into the lithium business as he seeks to expand the fast-growing industry that is crucial for products such as electric vehicles (EV). “We think we’re going to need to help the industry on this front,” Musk said on an earnings call on Wednesday. “I…
‘Do You Like Minting Money?’: Musk Advises Entrepreneurs to Step Into Lithium Industry
Wall Street Rises at Open on Boost From Tesla, Airlines
The Nasdaq led Wall Street’s main indexes higher on Thursday, lifted by a surge in Tesla shares, with airline stocks providing added boost after United Airlines and American Airlines forecast a return to profitability in the current quarter. The Dow Jones Industrial Average rose 98.0 points, or 0.28 percent, at the open to 35258.8. The…
309 Pilots and Flight Attendants Ask Court to Declare TSA Mask Rule Permanently Illegal
April 21, 2022
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AMERICABusiness & EconomyBusinesses in COVID-19CCP VirusFloridamaskPolicies & ImpactsUSUS NewsVaccines & Safety
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A group of 309 pilots and flight attendants asked an appeals court to declare the federal government’s mask rule permanently illegal—after a Florida judge struck down the mandate earlier this week. The group, who work for 16 airlines and are based in 35 states, filed arguments this week urging the court to permanently block the…
Euro Boosted by ECB Rate Hike Bets, Macron’s Debate
LONDON—A series of hawkish comments amplified bets that the European Central Bank would soon hike interest rates, lifting the euro to a one-week high on Thursday amid expectations French President Emmanuel Macron would win his reelection bid on Sunday. Joachim Nagel, president of Germany’s Bundesbank, joined fellow policymakers in saying the ECB could raise interest…
Oil Rises as Investors Focus on Lower Supply From Russia, Libya
April 21, 2022
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Business & EconomycommoditiescrisisEuropeglobalInternationalMarketsOilRussiaRussia-Ukraine WarstockssupplyUkraineWorld
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LONDON—Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1 percent, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 81…
As Elon Musk Questions Inflation Numbers, Economists Say CPI Understates Inflationary Environment
During Tesla’s first-quarter 2022 earnings call on Wednesday, Billionaire Elon Musk noted that “the official numbers actually understate the true magnitude of inflation,” citing some suppliers raising costs by as much as 30 percent for parts. In December, the billionaire founder of Pershing Square Capital, Bill Ackman posted in a tweet that official statistics understated raging inflation…
Bond Bashing Resumes, Euro Cheers Macron-Le Pen Clash
April 21, 2022
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Business & EconomycommoditiesCompanieseconomic policieseconomyEuropeglobalMarketsRussia-Ukraine WarstocksWorld
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LONDON—Bond markets suffered another sharp sell-off on Thursday as investors bet on aggressive global interest rate hikes, while the euro climbed after French President Emmanuel Macron bolstered his weekend re-election hopes in a heated TV debate. MSCI’s world stocks index mustered only a modest move amid the prospect of higher global borrowing costs, but Paris…
Chip Shortage Leads Major Firm to Scavenge Semiconductors from Old Washing Machines
April 21, 2022
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Business & EconomychipCompanieseconomyInternationalInvestmentMarketssemiconductorUSUS Newswashing machineWorld
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The global semiconductor shortage has led a major industrial conglomerate to resort to buying up old washing machines and removing chips from inside for use in their own products, according to the head of a supplier of key technologies to chipmakers. Peter Wennink, the CEO of ASML, a company that dominates the global market for…
World Bank Chief Warns of Food Crisis Due to Russia-Ukraine Conflict
April 21, 2022
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Business & EconomycommoditieseconomyEuropefood crisisinflationInternationalMarketsRussia-UkraineRussia-Ukraine WarWorldWorld Bank
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The World Bank has warned of a “human catastrophe” from a food crisis that could see millions forced into poverty due to the full-scale invasion launched by Russian forces in Ukraine. World Bank president David Malpass told the BBC at the IMF-World Bank spring meetings in Washington that record food prices could see hundreds of millions…
Walt Disney World Lifts Mask Requirement
Walt Disney World lifted the last remnants of its longstanding mask mandate on Wednesday, allowing park visitors to attend the Disney World parks in Florida unmasked if they choose for the first time in over two years. On Tuesday, Disney announced the new policy to allow unvaccinated patrons at the company’s famous Florida amusement parks…
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