Tesla’s unprecedented stock struggles during CEO Elon Musk’s Twitter takeover have been a major boon to the automaker many short sellers, according to market data published Thursday. Investors who bet against Tesla’s stock are set to earn a whopping $17 billion in mark-to-market profits this year, Bloomberg reported, citing data from analytics firm S3 Partners … Read more
Southwest Airlines resorted to drastic measures to get its planes off the ground, pushing corporate workers to pick up shifts as schedulers. The embattled airline sought volunteers at Southwest’s corporate offices in Dallas to bolster a shortage in a key role responsible for scheduling pilot and flight attendant staffing, according to an internal memo Wednesday. … Read more
Furious Tesla owners are blasting the company over how their high-end cars are not functioning in extreme weather, as the recent arctic freeze left their door handles frozen shut and the electric-powered vehicles unable to charge. “Bet ya didn’t think of ice in the Tesla design,” Canadian meteorologist Rachel Modestino wrote alongside a now-viral video … Read more
Tesla Chief Executive Elon Musk told employees that they should not be “bothered by stock market craziness” after the company’s shares fell nearly 70% this year on jitters over softening demand for electric vehicles and Musk’s distraction with running Twitter. In an email sent to staff on Wednesday and reviewed by Reuters, he said he believes that long-term, … Read more
Southwest Airlines could be slapped with major penalties for ruining Christmas for thousands of travelers by canceling flights during the holiday weekend, federal officials warned Wednesday. Transportation Secretary Pete Buttigieg and congressional leaders have called on the budget airline to issue refunds and pay for expenses after the Dallas-based company grounded more than 14,500 flights … Read more
Soaring prices at Disney theme parks haven’t prevented families from booking a trip. They simply charge it to their credit card. A recent study by the website LendingTree.com found that 18% of those who visited the parks in either Florida or California borrowed money for the chance to see Mickey and the gang. The survey … Read more
Meta CEO Mark Zuckerberg received more bad news during the holiday season as his foray into the metaverse has yet to pay dividends for his struggling tech company. Sales of virtual reality (VR) headsets declined 2% year-over-year in 2022, researchers told CNBC on Wednesday. As of early December, sales of VR headsets generated just $1.1 … Read more
Wegmans issued a voluntary recall of its products containing micro greens, sweet pea leaves and cat grass due to potential contamination with salmonella, the Food and Drug Administration said last week. The items include the 1.75-ounce Wegmans Organic Farm & Orchard Micro Greens, the five-ounce Wegmans Organic Baby Kale & Baby Spinach with Sweet Pea Leaves and … Read more
Contracts to buy US previously owned homes fell far more than expected in November, diving for a sixth straight month in the latest indication of the hefty toll the Federal Reserve’s interest rate hikes are taking on the housing market as the central bank seeks to curb inflation. The National Association of Realtors said Wednesday its Pending Home Sales Index, based on signed contracts, fell 4% … Read more
Ukrainian President Volodymyr Zelensky and BlackRock CEO Larry Fink agreed to work together on investments aimed at rebuilding the war-torn country after Russia’s invasion, Ukraine’s government said Wednesday. The agreement followed a video meeting between Zelensky and Fink. BlackRock has taken an advisory role on how Ukraine should handle investments related to reconstruction. “Volodymyr Zelensky … Read more