A federal appeals court on Thursday questioned Elon Musk’s bid to end an agreement that he made to get a Tesla Inc. lawyer’s pre-approval of some of his tweets, with judges pointing out that he agreed to it as part of a 2018 deal with the U.S. Securities and Exchange Commission (SEC). Musk’s attorney Ellyde…
Tesla Raises US Prices for All Its Vehicles Except Model 3
Tesla Inc. increased the U.S. prices of its Model S, X, and Y electric vehicles by low single-digit percentages on Thursday, though prices were still considerably lower than at the beginning of the year. The company raised the prices for all variants of its higher-priced Model S and X vehicles by $1,000, while prices of…
Biden Administration and GOP Lawmakers Trade Jabs Over Impending Debt Ceiling Deadline
May 15, 2023
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Business & Marketscongressdebt ceilingDefault on Debteconomic policieseconomyLael BrainardPolicies & ImpactsPoliticsUSUS News
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As the United States hurtles yet again toward a deadline by which either its debt ceiling is raised or it defaults on its financial obligations, Biden administration officials and Congressional lawmakers took to the Sunday talk shows on May 14 to voice their positions and sway public opinion. It’s a financial game of chicken, with…
General Motors Hires Former Apple Exec to Run Software Unit
DETROIT—General Motors has hired a former high-ranking executive at Apple to run a new software organization at the automaker. Mike Abbott is joining GM as executive vice president of software on May 22, the Detroit manufacturer said on May 9. He’ll report directly to CEO Mary Barra. Abbott formerly was vice president of engineering for…
Australian Treasurer Travels Across the Country to Sell the Budget
Australian Treasurer Jim Chalmers is touring around the country to persuade Australians about the benefits of his second budget amid lacklustre support from the public. The treasurer is set to visit five capital cities to speak to business groups, unions and communities, with Sydney being his first destination. This comes after the Labor government outlined…
Toyota: Data on More Than 2 Million Vehicles in Japan Were at Risk in Decade-Long Breach
TOKYO—A decade-long data breach in Toyota’s much-touted online service put some information on more than 2 million vehicles at risk, the Japanese automaker said Friday. Spanning from January 2012 to April 2023, the problem with Toyota’s cloud-based Connected service pertains only to vehicles in Japan, said spokesperson Hideaki Homma. The Connected service reminds owners to…
A ‘Caring’ Budget Would Have Put Productivity First
May 14, 2023
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AustraliaAustralian federal budgetBusiness & MarketseconomyInternationalOpinionproductivityViewpointsWorld
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Commentary There is more care than productivity in this budget. Literally, ‘care’ is one of the most frequently used words in the budget, with 20 mentions, while “productivity” has just four. Yet, if we are to pull ourselves out of the hole we have dug ourselves into, increasing productivity is the most important thing. Word…
What to Do If the Debt Ceiling Fight Worsens
May 14, 2023
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Business & MarketsBusiness Columnistsdebt ceilingdefaulteconomic policieseconomygoldinvestorsOpinionUSViewpoints
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Commentary The debt ceiling debate in Washington has been widely discussed but so far, few investors are truly worried. Most believe that when the deadline arrives, Congress and the White House will reach an agreement—even if it’s to kick the can down the road. As of now, Treasury Sec. Janet Yellen has set the deadline…
Tennessee Company Refuses US Request to Recall 67 Million Potentially Dangerous Air Bag Inflators
DETROIT—A Tennessee company could be heading for a legal battle with U.S. auto safety regulators after refusing a request that millions of potentially dangerous air bag inflators be recalled. The National Highway Traffic Safety Administration (NHTSA) is demanding that ARC Automotive Inc. of Knoxville recall 67 million inflators in the United States because they could…
PwC Consulting Scandal to Be Referred to Anti-Corruption Commission
One of the world’s largest financial consulting firms, PricewaterhouseCoopers (PwC), has been referred to Australia’s Anti-Corruption Commission (NACC) after a government inquiry revealed the company allegedly planned to cheat the Australian government out of tax revenue from the firm. Greens Senator Barbara Pocock, who initiated the senate inquiry, announced she will be referring the company…
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