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Tesla shares plunged 29% in the first quarter, the worst period for the stock since the end of 2022 and the third-steepest quarterly drop on record.Investors are concerned about auto sales as the company faces increased competition from China and disruptions in Europe.According to data from S3 Partners, Tesla shorts...

Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss.Tesla's Model 3 starts at 245,900 yuan in China.Lei claimed the standard version of the SU7 beat the Model 3 on more than 90% of ...

The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter.All of the gains came from stock holdings thanks to an end-of-year rally.Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect."Martin Puddy | Digitalvision...

Reddit shares are plummeting after experiencing a rally stemming from the social media company's IPO last week.Shares closed Thursday at $49.30, falling below their closing price on Reddit's first day of trading last week on the New York Stock Exchange. Earlier this week, Reddit disclosed in a corporate filing that ...

Bruce Carnegie-Brown, chair of insurance giant Lloyd's of London, told CNBC that the payout from the Baltimore bridge collapse and its knock-on effects could be "the largest-ever marine insured loss."He added that it would still be within the "realistic disaster scenario planning" of the insurance and reinsurance in...

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said reports of Tesla 's collaboration with battery company CATL can boost the stock. "Tesla-CATL could be a game changer." Evercore ISI initiates Western Digital as outperform Evercore said in its initiat...

Jakub Porzycki | Nurphoto | Getty ImagesAmazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that's widely viewed as a front...

Make ItPublished Wed, Mar 27 20242:11 AM EDTA boy cries in a school playground. A new British study has found that some behaviours considered problematic in childhood can lead to higher salaries later in life. Juanmonino | E+ | Getty ImagesSchool bullies are likely to end up with higher salaries, a new study suggest...

New Biden administration standards for tailpipe emissions are expected to be a win for legacy automakers such as GM, Ford and Stellantis.The new regulations come as adoption of electric vehicles in the U.S. has been slower than expected.Tesla and environmental groups criticized the standards, which may be designed i...

Reddit mascot Snoo is seen on the floor of the New York Stock Exchange (NYSE) as Reddit begins trading in New York on March 21, 2024. Timothy A. Clary | AFP | Getty ImagesOpenAI CEO Sam Altman says he has no equity in the $80 billion artificial intelligence startup he co-founded in 2015.His Reddit ownership is anoth...

The Justice Department sued Apple in an antitrust case, saying that the iPhone maker has a monopoly over the phone market that harmed consumers, developers, and rival companies.Apple's ecosystem, from the Apple Watch to Apple Pay, supports that monopoly, prosecutors said.The challenge strikes at the core of Apple's ...

The Biden administration announced it would forgive $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program.It also said President Joe Biden would email another 380,000 public service workers, notifying them that they're on track to have their debt canceled within two ye...

Following the lead of companies like Airbnb and Rivian, Reddit is inviting some users to participate in its upcoming IPO. Reddit moderators told CNBC that they're declining the offer, citing lingering tensions with management and concerns over the company's business."It doesn't really feel like Reddit is necessarily...

In this photo illustration a Reddit logo is seen displayed on a smartphone.Mateusz Slodkowski | Sopa Images | Lightrocket | Getty ImagesReddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range.The offering brought in $519 million,...

In the 1990s, the UAE introduced a rain enhancement methodology called cloud seeding. Cloud seeding is the process of increasing the amount of rain produced from the clouds above, which is designed to improve water shortage issues in arid regions around the emirate. By the early 2000s, Sheikh Mansour Bin Zayed Al Na...

Saudi Arabia's PIF has been on a buying spree as it seeks to diversify the kingdom's revenues away from oil.Andreessen Horowitz, with $35 billion in assets under management, has backed successful companies including AirBnB, Coinbase, Facebook and Slack, and has nearly 100 AI-related startups in its portfolio. PIF Ma...

Nvidia on Monday announced a new generation of artificial intelligence chips and software for running AI models.The new AI graphics processors are named Blackwell and are expected to ship later this year. The announcement comes as companies and software makers still scramble to get their hands on the current generat...

Saudi Aramco CEO Amin Nasser said the current energy transition strategy is failing.The world should give up on the idea of phasing out oil and gas, Nasser said.The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas. Amin Nasser, CEO of Saudi Aramco, speaks at the ...

Ambient clinical documentation was the talk of the HIMSS conference this year, where more than 30,000 health and tech professionals gathered in Orlando, Florida.The technology allows doctors to record conversations with patients to automatically turn them into clinical notes and summaries using AI.Companies like Mic...

The Google office in New York on February 2, 2023.Ed Jones | Afp | Getty ImagesAllison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of looking f...

A photo of a television screen shows French President Emmanuel Macron during a televised address to the nation, made from the Elysee Palace, after signing into law a pensions reform, in Paris, on April 17, 2023.Ludovic Marin | AFP | Getty ImagesFrench President Emmanuel Macron has doubled down on the possibility of ...

EarnPublished Thu, Mar 14 20249:00 AM EDTIf you're looking for a college degree with maximum earning potential, you'll want to be an engineer.Engineering degrees took nine of the top 16 rankings for college majors with the highest income five years after graduation, according to a recent New York Federal Reserve stu...

A UPS seasonal worker delivers packages on Cyber Monday in New York on Nov. 27, 2023.Stephanie Keith | Bloomberg | Getty ImagesJust before midnight on May 4, 2023, police were called to an Amazon warehouse in Chattanooga, Tennessee, to investigate a reported theft. They were met by a loss prevention employee, who di...

The House approved the legislation, dubbed the Protecting Americans from Foreign Adversary Controlled Applications Act, that calls for China tech giant ByteDance to divest TikTok or the popular social video app will effectively be banned in the U.S.The bill now heads to the Senate where it faces an uncertain future ...