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Fed Rate-Cut Hopes Fuel Festive Cheer for Stocks. Why That Won’t Last.
Fed Rate-Cut Hopes Fuel Festive Cheer for Stocks. Why That Won’t Last.
OPEC+ extends oil production cuts, Peltz revives Disney proxy battle, Tesla delivers first Cybertrucks, and other news to start your day.
2023-12-01 20:26
Desmarais-Backed Venture Firm Gets Money for Climate Tech Fund
Desmarais-Backed Venture Firm Gets Money for Climate Tech Fund
A venture firm backed by Power Corp. of Canada closed a round for a new climate-technology fund, tapping
2023-12-01 20:18
Three down: Phone network not working as users report no service and lost messages
Three down: Phone network not working as users report no service and lost messages
Three has gone down, leaving users with no service. Vast numbers of users reported issues with receiving messages and other problems. “We’re aware that a small number of customers may be experiencing issues with our network this morning,” the company wrote on Twitter. “Our engineers are working hard to fix this as soon as possible. We’re so sorry if you’ve been impacted by this.”
2023-12-01 19:28
Advertisers ‘won’t take risk’ of returning to X after Elon Musk’s expletive-filled rant
Advertisers ‘won’t take risk’ of returning to X after Elon Musk’s expletive-filled rant
Advertisers are refusing to return to X – formerly Twitter – after the platform’s owner Elon Musk told them to “go f*** yourselves” if they try to pull their marketing from the microblogging site. After Mr Musk was accused of antisemitism last month, a number of the world’s biggest companies and X’s biggest advertisers, including Apple and IBM, pulled their marketing from the platform. While the Tesla chief initially said he was “sorry” and denied any suggestion he was antisemitic, he later added that advertisers who withdrew their marketing from X because of his tweet should “go f*** yourselves”. “If someone is going to try to blackmail me with advertising, blackmail me with money? Go f*** yourself. Go f*** yourself. Is that clear? I hope it is,” Mr Musk said at the New York Times’ Dealbook Summit. “The whole world will know that those advertisers killed the company and we’ll document it in great detail,” he added. Now, a number of marketing agencies say the brands they represent are firmly against returning to advertising on X. “Thank you Elon Musk, for making it very clear how seriously you take advertisers concerns... Advertisers, judge for yourselves if this is a man who you can do business with,” Lou Paskalis, the founder and chief of the marketing consultancy AJL Advisory, posted on X. “There is no advertising value that would offset the reputational risk of going back on the platform,” Mr Paskalis told NYT. Advertisers are unlikely to step in to support X, said Ruben Schreurs, the chief strategy officer at marketing firm Ebiquity. The row began last month after Mr Musk endorsed a post claiming that Jewish people “have been pushing the exact kind of dialectical hatred against whites that they claim to want people to stop using against them” as the “actual truth”. In response, a number of top companies, including Apple, Disney and Coca Cola, have since removed paid ads from X – moves that could slash the company’s revenue by millions of dollars. Watchdog Media Matters also published a report alleging that ads on X were being placed next to posts supporing Nazism, in response to which the social media company filed a defamation claim against the group. Mr Musk’s rank at the Dealbook Summit came come on Wednesday. “I will certainly not pander,” the multibillionaire said. He even took a direct jab at Disney chief Bob Iger who had earlier explained why the entertainment company had pulled advertising from X. Just hours after Mr Musk’s expletive-laden comment on Wednesday, X chief Linda Yaccarino attempted to soften the damage, sharing the owner’s apology on the platform and appealing to advertisers to return. “Here’s my perspective when it comes to advertising: X is standing at a unique and amazing intersection of Free Speech and Main Street — and the X community is powerful and here to welcome you,” Ms Yaccarino said. “Businesses are simply full of people, and people like to be treated well, respected and dealt with with dignity,” Steve Boehler, founder of marketing management consultancy Mercer Island Group, told NYT. Read More Everything we know about Tesla’s Cybertruck after first cars are delivered Musk says antisemitic tweet was ‘foolish’ – but blames media for angry reaction Elon Musk believes OpenAI may have made ‘dangerous’ discovery OpenAI may have made a ‘dangerous’ artificial intelligence discovery, Elon Musk says Elon Musk publicly tells advertisers to ‘go f*** yourselves’ Elon Musk mocked for trying to resurrect QAnon Pizzagate conspiracy
2023-12-01 19:20
King Charles Urges Action to Slow World’s Descent Into Danger
King Charles Urges Action to Slow World’s Descent Into Danger
King Charles III made an impassioned plea for more climate action at the COP28 summit in Dubai, asserting
2023-12-01 19:18
Norway’s New Gas Field Highlights Tensions as Climate Talks Open
Norway’s New Gas Field Highlights Tensions as Climate Talks Open
As policymakers in Dubai search for consensus on tackling climate change, the scale of the challenge is evident
2023-12-01 18:18
These Stocks Are Moving the Most Today: Tesla, Dell, Marvell, Ulta, Samsara, UiPath, Elastic, and More
These Stocks Are Moving the Most Today: Tesla, Dell, Marvell, Ulta, Samsara, UiPath, Elastic, and More
Tesla hands over the first batch of Cybertrucks to buyers, Dell posts a revenue miss on weak demand, and shares of Samsara and Elastic surge as earnings at both tech companies top analysts' estimates.
2023-12-01 17:45
Germany’s Budget Chaos Sows Uncertainty For the EV Industry
Germany’s Budget Chaos Sows Uncertainty For the EV Industry
Scarce charging stations and shrinking subsidies already have contributed to a slowdown in Germany’s rollout of electric vehicles.
2023-12-01 15:49
Everything we know about Tesla’s Cybertruck after first cars are finally delivered
Everything we know about Tesla’s Cybertruck after first cars are finally delivered
Tesla has revealed the prices and features of different versions of its highly-anticipated Cybertruck at a delivery event in Austin where the company finally handed over to customers the first 13 electric pickup trucks. The deliveries to a select group of customers come six years after Tesla boss Elon Musk tweeted about building a truck, and 4 years after a version of the Cybertruck was unveiled for the first time in 2019. At the short livestream of Thursday’s delivery event, Tesla also redemonstrated the toughness of the Cybertruck after its 2019 demo awkwardly shattered the windows of the truck. The event started with the Tesla boss driving the truck on a stage in darkness and hopping out to talk about it. The electric pickup truck’s angular body is made of a stainless steel alloy developed by Tesla with Mr Musk calling it the “most unique thing on the road”. “Finally the future will look like the future,” he told the attendees, consisting of Tesla investors. The Cybertruck, dubbed “an armoured personal carrier from the future,” will eventually be available in three different configurations with the cheapest version starting at a $60,990 base price, Mr Musk said. He said the pickup truck can carry over a ton in its bed and tow over 5,000kg (11,000 pounds). However, this ”rear-wheel version” with a range of 250 miles and acceleration from zero to 60mph in about 7 seconds, would not be available until 2025, the company said. An all-wheel drive version of the Cybertruck, Tesla announced, would have an estimated 341-mile range, top speed of 112 mph, and a starting price of $79,990. The third version announced on Thursday is what’s called the “Cyberbeast” – slated to arrive in 2024 – with a range of 320 miles and 845 horsepower, travelling from 0 to 60 mph in 2.6 seconds at an estimated price of $99,990. All these models are much more expensive than the $39,900 starting price Tesla announced for the base version in 2019. Tesla also announced that it would offer a range extender to push the all-wheel drive Cybertruck to about 470 miles and the Cyberbeast to a range of over 440 miles. The range extender, Mr Musk explained later in a post on X, is an “optional pack” that fits in about a third of the truck’s bed. “Still room for plenty of of cargo. It’s meant for very long trips or towing heavy things up mountains,” he said. “Massive congrats to the incredible Tesla team, from design through to manufacturing, for making Cybertruck real! I love you,” the multibillionaire said. At the event, the Tesla boss also invited the electric vehicle company’s chief designer Franz Von Holzhausen to re-do the demonstration of the toughness of the Cybertruck that was botched in 2019. This time, instead of throwing a metal ball at the vehicles glass, Mr Von Holzhausen threw an ordinary baseball – rather weakly – showing the glass could the projectile. Tesla has said the glass will not shatter in the face of a 70mph baseball strike. This definitely wasn’t that. The livestream event ended after about 30 minutes, once Mr Musk had listed the features and performance capabilities of the Cybertruck’s different versions and its bulletproof exterior. It was followed by the Tesla boss assisting some of the first customers in driving off in their trucks. Mr Musk has played down hopes that the Cybertruck would revive profits for the carmaker in the near future. He told investors and analysts in an earnings call in October that it could take at least 18 months for the truck to become profitable. “There will be enormous challenges in reaching volume production with Cybertruck and making the Cybertruck cash flow positive,” he said. Read More When and where to watch Tesla’s highly anticipated Cybertruck delivery event Google users urged not to press button Nasa has received a signal from 10 million miles away Google users urged not to press button Nasa has received a signal from 10 million miles away Magazine under fire for publishing AI-written articles with fake author headshots
2023-12-01 15:16
South Africa Warns Others Not to Go From Electricity to Darkness
South Africa Warns Others Not to Go From Electricity to Darkness
One of the architects of South Africa’s groundbreaking deal with rich nations to move more quickly away from
2023-12-01 14:56
COP28 Latest: Saudi’s MBS Among Leaders Kicking Off UN Talks
COP28 Latest: Saudi’s MBS Among Leaders Kicking Off UN Talks
Sign up for the Green Daily newsletter for comprehensive coverage of the climate summit right in your inbox.
2023-12-01 14:16
Big Tech Wants to Control AI. EU Regulation Could Help.
Big Tech Wants to Control AI. EU Regulation Could Help.
New European legislation on artificial intelligence could help cement the dominance of big U.S. tech companies.
2023-12-01 13:52
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