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The combined wealth of America’s billionaires, including Amazon founder Jeff Bezos and Tesla chief Elon Musk, increased nearly 10 percent during the ongoing COVID-19 pandemic, according to a report published by the Institute for Policy Studies (IPS). The wealth surge of America’s richest men happened during a period that saw as many as 22 million …
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Shares of Elon Musk’s electric car company popped Wednesday after Goldman Sachs resumed coverage of the company and slapped it with a “buy” rating. Tesla’s shares jumped more than 5 percent Wednesday morning before losing some ground in the afternoon, up 3.3 percent to $733.49, after analyst Mark Delaney gave the automaker’s stock a $864 …
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Shares of Tesla surged 13 percent on Tuesday after Credit Suisse upgraded its rating on the electric-car maker and as Wall Street rallied on optimism the coronavirus outbreak was reaching a plateau. The stock has jumped nearly 30 percent in the past two days as investors look beyond disruptions caused by the pandemic, which has …
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Tesla has reportedly asked landlords for rent discounts as it tries to cut costs during the coronavirus crisis. The electric-car maker has told at least some of its landlords that it is cutting its monthly rent obligations because of the “increasing restrictions on our ability to conduct business” amid the pandemic, The Wall Street Journal …
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Tesla plans to furlough non-essential workers and cut employees’ salaries now that the coronavirus crisis has halted production at some of its factories. The electric-car maker will furlough staff who cannot work from home and are not performing crucial work at its plants, a company official told US employees Tuesday. Tesla expects to restart normal …
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The ventilators promised by eccentric Tesla founder Elon Musk won’t be ready in time for the coronavirus’ apex in New York, Gov. Andrew Cuomo said Sunday. “The problem with ventilator construction is the supply chain,” said Cuomo in his now-daily Albany press briefing. “That’s General Motors, that’s Ford, that’s Elon Musk. “I don’t care how …
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Tesla is slashing the number of workers at its Nevada Gigafactory by about 75 percent as the coronavirus pandemic roils the company’s manufacturing operations, local officials say. The electric-car maker told officials in the surrounding Storey County that it would cut its on-site staff at the Reno-area factory “in the coming days,” county manager Austin …
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Elon Musk purchased 1,000 ventilators and donated them to California hospitals to help treat coronavirus patients, the state’s governor said Monday. “They’ve arrived in Los Angeles… It was a heroic effort,” Gov. Gavin Newsom said at a press conference. The Tesla boss mentioned the effort on Twitter Monday night, saying he bought the breathing machines …
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It’s never been better to be a gamer. Video game retail giant GameStop called itself “essential retail” in a memo to employees, instructing them to keep stores open — despite local governments nationwide issuing lockdowns amid the coronavirus crisis, Kotaku reported. “Due to the products we carry that enable and enhance our customers’ experience in …
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Ford on Thursday moved to hoard cash on its balance sheet, drawing down $15.4 billion from two credit lines and suspending its dividend, in a move to bolster reserves to ride out damage to its business from the coronavirus pandemic. The No. 2 US automaker, whose shares were down 5.2 percent, at $4.26 in afternoon …
The combined wealth of America’s billionaires, including Amazon founder Jeff Bezos and Tesla chief Elon Musk, increased nearly 10 percent during the ongoing COVID-19 pandemic, according to a report published by the Institute for Policy Studies (IPS). The wealth surge of America’s richest men happened during a period that saw as many as 22 million …
