DETROIT—Tesla’s sales from April through June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles. The company on Saturday disclosed it sold more than 254,000 cars and SUVs from April through June, an 18 percent drop from the first three…
Musk Vows Fast Fix for New ‘Money Furnace’ Tesla Factories
Tesla CEO Elon Musk described the electric automaker’s factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce. In a May 30 interview with a Tesla owners club that was just released this week, Musk said that getting…
Travel Chaos: Who Is to Blame for Thousands of Canceled Flights?
Airlines canceled thousands of flights this week, blaming staffing shortages, as Americans return to traveling in droves this summer. But airlines and the federal government are at odds over which staffing shortages are the fundamental cause. More than 1,400 flights were canceled in the United States yesterday, and more than 5,800 were significantly delayed. Airlines…
Macau Shuts Most Businesses Amid COVID-19 Outbreak, Casinos Stay Open
June 20, 2022
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Business & MarketsBusinesses in COVID-19CasinosCCP VirusChinaChina Business & EconomyCOVID-19economyINSIDE CHINAlockdownMacauoutbreakSpecial Topics
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HONG KONG—The world’s biggest gambling hub Macau began its second day of mass COVID-19 testing on Monday after dozens of locally transmitted cases were discovered over the weekend, with most businesses shut but casinos remaining open. The testing of Macau’s roughly 600,000 residents is expected to end on Tuesday as the Chinese-ruled former Portuguese colony…
Major US Stores Report Tampon Shortages Amid Increased Demand for Feminine Products
Some of the biggest stores across the United States are reportedly seeing a shortage of feminine hygiene products, while the cost of the essential items is rising as supply chain issues and sky-high inflation continues to plague the economy. According to multiple posts on social media, consumers are finding it increasingly difficult to purchase tampons across…
Newly-Launched Tesla Model Y Sees Huge Demand in Australia
June 14, 2022
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High demand for Tesla’s Model Y SUV after its launch in Australia has caused the automaker to push back delivery dates for the vehicle by six months. The Austin-based automaker introduced on June 10 the Model Y to Australians, priced from AUD$68,900 plus on-road costs for its entry-level rear-wheel-drive variant, about $5,000 more than the…
If You Love Your Subscribers, Let Them Go
During the first COVID-19 lockdown, subscription businesses witnessed unprecedented growth. From coffee to cars—nothing was off-limits, and subscriptions went from a revenue strategy to a movement. Thanks to the unlimited supply of recurring revenue adrenaline, investors’ love for subscription businesses only grew by leaps and bounds. Then suddenly, the world woke up from its stupor….
UK Holidaymakers Stranded Abroad Amid Severe Airline Staffing Shortage
Thousands of holidaymakers have found themselves stranded abroad after hundreds of return flights to the UK were cancelled. Tourists returning from half-term breaks from Europe are stuck after major airlines cancelled flights over the weekend and on Monday morning. Families hoping to return after the half-term school holiday and the four-day Platinum Jubilee weekend found…
US Mulls Lifting Some China Tariffs to Fight Inflation
June 5, 2022
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WASHINGTON—U.S. Commerce Secretary Gina Raimondo said on Sunday that President Joe Biden has asked his team to look at the option of lifting some tariffs on China that were put into place by former President Donald Trump, to combat the current high inflation. “We are looking at it. In fact, the president has asked us…
Moderna Delays COVID Vaccine Deliveries to EU by Several Months
June 3, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusCompaniesCOVID vaccinedelayseconomyModernaVaccines & SafetyWorld
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Moderna Inc. said on Thursday it has agreed to push back some COVID-19 vaccine deliveries to the European Union by several months to later in 2022 or early next year. Shares of Moderna fell nearly 2 percent before the bell over the delay, even though the company stuck to its vaccine sales forecast of $21…
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