BEIJING—Tesla has cut the delivery waiting time for all Model 3 and Model Y vehicles to a minimum of one week, it said on its website on Tuesday. The U.S. automaker added to its electric vehicle inventory in Shanghai at its fastest pace ever in October, data from China Merchants Bank International (CMBI) showed, at…
40,000 Teslas Recalled as Software Glitch Causes Power Steering Fault
Over 40,000 Tesla vehicles have been recalled after a software glitch resulted in faults with the steering system increasing the risk of an accident that could result in “serious injury or death.” Australia’s federal Department of Transport, which issued a recall for 1,012 vehicles on Nov. 16 over the software calibration issue saying Tesla’s Electronic…
Cyberattack Saga to Cost Company $35 Million, Says Medibank CEO
The cyberattack on Australia’s largest health insurer Medibank is expected to cost the company up to $35 million (US$24 million). Medibank CEO David Koczkar told the company’s annual general meeting on Nov. 16 that the hack presented an “incredible challenge” but was confident the Medibank team would pull through. “Based on our current actions in response…
Musk to Relaunch Twitter’s Blue Check Subscription on Nov 29
Billionaire Elon Musk said on Tuesday that Twitter’s sought-after blue check subscription service will be relaunched on Nov. 29, a minor delay from his initial tentative timeline to bring back the service on the social media platform. “Punting relaunch of Blue Verified to November 29th to make sure that it is rock solid,” Musk said…
More Than a Million Creditors Could Be Affected by FTX Fallout
November 15, 2022
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The collapse of the FTX crypto exchange, which was valued at $32 billion at its peak, could end up affecting far more creditors than earlier estimated, according to a recent filing by the company. In its Chapter 11 bankruptcy filing last week, FTX indicated that it had more than 100,000 creditors with claims in the…
Elon Musk’s SpaceX Buys Ad Campaign on Twitter for Starlink
SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns the rocket company and the social media platform. “SpaceX Starlink bought a tiny—not large—ad package to test effectiveness of Twitter advertising in Australia & Spain. Did same for FB/Insta/Google,” Musk wrote on Twitter on Monday. Twitter,…
Prosecutors Seek 15 Years for Elizabeth Holmes Over Theranos Fraud
Theranos founder Elizabeth Holmes should spend 15 years in prison and pay $800 million in restitution to investors defrauded in the blood testing start-up, U.S. prosecutors recommended late on Friday. The Department of Justice recommendation, made in a court filing, came as Holmes prepares to be sentenced next week. “Considering the extensiveness of Holmes’ fraud…
Australia, UK, Ireland and Fiji Regulators to Push for Online Safety Laws
November 15, 2022
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Australia’s online regulator will collaborate with representatives from the United Kingdom, Ireland and Fiji to create new laws to combat cyberbullying and abusive content on social networks. Australia’s eSafety Commission, UK communications regulator Ofcom, the Broadcasting Authority of Ireland, and Fiji’s Online Safety Commission announced the partnership at a conference in Washington DC on Tuesday…
Battle Over the iPhone App Store Spills Into Appeals Court
SAN FRANCISCO—Apple and the company behind the video game Fortnite squared off Monday before three federal appellate judges who will render the next decision in a high-stakes battle over whether Apple created an illegal monopoly via its exclusive control of its iPhone app store. Such monopolies typically stifle competition and drive up consumer prices. The…
Jeff Bezos Reveals How He Plans to Spend His Vast Fortune, Advises Everyone to ‘Take Some Risk Off The Table’
Amazon founder Jeff Bezos said that he plans to give away most of his wealth during his lifetime to causes such as climate change and humanity projects, but withheld from divulging specific details. “The hard part is figuring out how to do it in a leveraged way,” Bezos said during a recent CNN interview. “It’s…
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