Wall Street’s main indexes opened higher on Monday as investors bought beaten-down shares after the main benchmarks suffered their worst weekly selloff of the year on worries of aggressive interest-rate hikes. The Dow Jones Industrial Average rose 89.24 points, or 0.27 percent, at the open to 32,906.16. The S&P 500 opened higher by 22.32 points,…
Tesla’s German Plant Hits 4,000 Cars per Week Ahead of Schedule
BERLIN—Tesla’s German plant in Brandenburg near Berlin is now producing 4,000 cars per week, the company said on Monday, quadrupling from May when Chief Executive Elon Musk had compared investment in Tesla’s new plants to “gigantic money furnaces.” The Berlin plant hit the production target three weeks ahead of a production schedule reviewed by Reuters….
Toyota Production up 9 Percent in January, Chip Pain Still Lingers
TOKYO—Toyota Motor Corp. boosted global vehicle production by 9 percent in January, it said on Monday, its first increase in two months even as the carmaker continued to feel the strain from global chip shortages. The company, which is the world’s largest automaker by volume, and other car manufacturers are still grappling with tight supplies…
World Shares Mixed After Latest Wall Street Retreat
February 27, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares gained Monday in Europe after retreating in Asia, where they tracked Wall Street’s latest decline. Last week, U.S. shares suffered their worst setback since early December. Reports on inflation, the jobs market, and retail spending have come in hotter than expected, leading analysts to raise forecasts for how high the Federal Reserve will have…
New Australian Agency Setup for Future Cyber Threats
February 26, 2023
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AustraliaBusiness & MarketsCompaniescybercyber threatcybersecurityInternationalRob NichollsTechTech NewsWorld
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A national coordinator will deal with large-scale data breaches and cyber hacks in Australia from now on under the Labor government’s plan to counteract cybersecurity problems. Last year, major Australian organisations were targeted in a series of cyber-attacks—following the Ukraine War—that saw the personal data of millions exposed online, including driver’s licence and Medicare details….
Former Black-Identifying ‘Dilbert’ Cartoonist Dropped by US Newspapers Over Alleged Racist Comment
February 26, 2023
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Big Tech, Censorship, and SocialismBusiness & Marketscancel cultureCompaniesDilbertFeatured TopicsMedia & Big TechPoliticsracismSocial Issuessystemic racismUSUS News
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Cartoonist, satirist, and political commentator Scott Adams, who formerly identified as a black man, has been canceled this week over comments, some people have alleged to be racist, on his podcast. A day after he made comments on “Real Coffee with Scott” saying that he doesn’t want to have anything to do with blacks anymore,…
Formerly Black-Identifying ‘Dilbert’ Cartoonist Dropped by US Newspapers Over Alleged Racist Comment
February 26, 2023
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Big Tech, Censorship, and SocialismBusiness & Marketscancel cultureCompaniesDilbertFeatured TopicsMedia & Big TechPoliticsracismSocial Issuessystemic racismUSUS News
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Cartoonist, satirist, and political commentator Scott Adams, who formerly identified as a black man, has been canceled over comments he made that some people have alleged to be racist. On Feb. 23, a day after he made comments on his podcast, “Real Coffee with Scott,” saying that he doesn’t want to have anything to do…
Ford Suspends Production of F-150 Lightning EV for Additional Week After Battery Fire
Ford Motor Co. will halt on F-150 Lightning production until the end of next week following a battery problem that caused an EV truck to catch fire during a pre-delivery check, the company said on Friday. “The teams worked quickly to identify the root cause of the issue,” Ford spokesperson Emma Bergg said in a statement…
Warren Buffett Preaches Confidence in America, Warns ‘Deficits Have Consequences’
In his annual letter (pdf) to Berkshire Hathaway shareholders, Warren Buffett touted his confidence in the U.S. economy while also warning about “runaway inflation” from the consequences of fiscal deficits over the last decade. Buffett, 92, encouraged investors to concentrate on the long term rather than short-term volatile conditions, arguing that betting against the United…
Amazon Closes $3.9 Billion Buyout of Health Company One Medical
NEW YORK—Amazon said Wednesday it has closed its $3.9 billion acquisition of the primary care organization One Medical. The e-commerce giant has said the buyout, which was announced in July, is a key component of its growing health care business, which includes its online drugstore Amazon Pharmacy and a patient to doctor messaging service called…
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