Elon musk story

Share to Twitter Share to Linkedin Tesl TSLA a is at the center of another controversy. Its newest factories are burning through mountains of cash. Investors are worried about bankruptcy. Bloomberg reported on Thursday that Elon Musk said the Berlin and Austin factories are money furnaces. The headline amped up fear, uncertainty and doubt about the automaker. Shares slipped. Shareholders should beware. FUD works. In fairness, Musk was simply being honest. New factories blaze through capital as they scale up production. Equipment costs can be monumental, especially during an innovation cycle. New employee training, stockpiling components from suppliers, and ongoing construction costs add up too. These cash outlays are stacked up against limited production runs to work out the bugs. The factories in Berlin, Germany and Austin, Texas represent the evolution of the wildly successful “Giga” Shanghai facility, opened in 2019. That Chinese plant … [Read more...] about Tesla Factories Actually Burn Through Skepticism

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What's happening: A shallow recession late this year or early next year is "becoming the consensus view," David Bianco, DWS chief investment officer for the Americas, told reporters this week. While there's agreement that the Federal Reserve needs to continue to aggressively pull back support for the economy to tamp down decades-high inflation, traders have been increasingly concerned that the central bank could accidentally go too far, triggering a new wave of job losses and throwing growth into reverse. But Fed officials … [Read more...] about Who’s right about a recession — markets or the Fed?

Daria Mattingly is a Ukrainian historian specializing in the Holodomor. She holds a PhD from Cambridge University, where she teaches Soviet and Russian history, and is on the selection committee of the Danyliw Research Seminar on Contemporary Ukraine, University of Ottawa. The views expressed in this commentary are her own. View more opinio n on CNN. (CNN) Growing up in Ukraine, one learns not to leave breadcrumbs on the table. My generation of Millennials was taught this pious reverence to bread by our grandparents who survived the 1932-1933 famine in Ukraine -- known as the Holodomor. Daria Mattingly Many a time I heard the story of how a soup with wild sorrel saved my grandmother and her siblings while the grain collected from her village was left to rot at the train station. That wheat could have saved so many lives, but "the state" did not allow it. My grandmother could not stand the sight of sorrel for the rest of her life, and always kept her … [Read more...] about Opinion: All Ukrainian children know to ‘never leave breadcrumbs on the table’

Minneapolis (CNN Business) The US economy shrank at a slightly faster rate than previously estimated during the first quarter, the Bureau of Economic Analysis said Wednesday. With one quarter of negative economic growth in the books, the data adds to fears that a recession may be looming. Real gross domestic product declined at an annualized rate of 1.6% from January to March, according to the BEA's third and final revisions for the quarter. Previously, the advance estimate released in April showed a contraction of 1.4%. Last month, that was revised to a decrease of 1.5%. The first quarter GDP performance, which the BEA noted includes some unquantified effects from the pandemic and the Omicron variant surge, stood in contrast to the fourth quarter of 2021, when the economy grew at a rate of 6.9% from the prior quarter. Read More The first quarter of 2022, however, marked the start of Russia's invasion of Ukraine, which sent economic … [Read more...] about The US economy shrank 1.6% in the first quarter, adding to recession fears

What matters more: a company’s profit margins or its purpose? For a growing share of workers, the answer is obvious. In a competitive labor market, candidates look for a fair and inviting workplace. But more than that, many employees want their work to make a difference. Their purposeful career choices leverage corporate resources to help create a better, more equitable world. advertisement advertisement The good news is, many companies have made the same decision. Environmental, social, and governance (ESG) principles have emerged as an urgent reflection of corporate purpose. Shareholders increasingly view business prospects as tied to corporate social responsibility. As a result, leading firms have made a full commitment to pursuing ESG factors. And new hires should expect nothing less from potential employers. To advance your career and realize your potential in a purpose-driven world, you can’t afford to ignore three ESG trends. Understand … [Read more...] about Why your career growth depends on working for a company committed to ESG

As recently as 2015, there were more artists living in New York City than ever before (about 55,000). But from January 2021 to January 2022, rents surged 33%, pushing artists farther and farther out of the city’s creative neighborhoods. advertisement advertisement Then came Silver Art Project. Founded in 2018, the nonprofit runs an art residency on the 28th floor of 4 World Trade Center . Like other organizations with similar goals, Silver Art’s mission is to support artists who are being priced out of the city. Silver Art provides free studios and mentorship to a select cohort of artists; to date, more than 50—ranging from painters and visual artists to photographers and sculptors—have participated. This month marks the end of the second residency, which included 25 artists. While Silver Art is in the process of reviewing more than 1,200 applications for its upcoming cohort, I spoke with four artists who just spent a year working at 4 WTC. Most … [Read more...] about ‘You’re on top of the world’: Inside 4 artists’ studios on the 28th floor of the World Trade Center

FILE PHOTO General views of the Ahmad Bin Ali Stadium – Ahmad Bin Ali Stadium, Al Rayyan, Qatar, March 30, 2022. General view inside the Ahmad Bin Ali Stadium, a venue for the 2022 Qatar World Cup. REUTERS/Pawel Kopczynski DOHA—Organisers have sold 1.8 million tickets for this year’s World Cup in Qatar, world football governing body FIFA said Wednesday ahead of the next round of ticket sales that opens on July 5. There is a special category of tickets available only to residents of host nation Qatar and fans in the Gulf Arab state have bought the largest number of tickets, FIFA said. Aside from Qatar, the top countries where fans bought tickets are Canada, England, France, Germany, India, Saudi Arabia, Spain, the United Arab Emirates and the United States, FIFA said in a press release. FIFA expects to offer a total of 3 million match tickets during the 28-day tournament, which kicks off Nov. 21, a spokesperson said. Qualifications for the World Cup have now concluded and … [Read more...] about Fifa sells 1.8 million tickets for Qatar’s World Cup

Filipinas win in friendly in Europe. –PFF PHOTO MANILA, Philippines—The Philippine women’s football team has spent the last several months training and competing at a high level from one country to another. But for the Filipinas, who are determined for more glory in the upcoming AFF Women’s Championship here, there’s no place like home. “I know I can speak for all of the girls of how exciting it is to be playing in the Philippines. This will be my first time playing in the Philippines and we have family, extended family over here, immediate family and I think it would mean so much more to get to play in front of all our friends, family and supporters,” said Filipinas skipper Tahnai Annis in a presser Wednesday. “Since we’ve been playing all over now and haven’t really got to have that home field advantage, home field crowd and I think everyone is just really excited for that and I think all of the support we will have will really help us through this long tournament,” she … [Read more...] about Filipinas excited, honored to play at home for AFF Women’s Championship

Jamie Malonzo. –PBA IMAGES MANILA, Philippines–NorthPort’s young two-way star Jamie Malonzo, it turns out, is eligible to backstop the national cage program as a local. The news was confirmed by no less than Gilas Pilipinas program director Chot Reyes on Wednesday night  in a chat with reporters after TNT’s 117-112 victory over NorthPort at Smart Araneta Coliseum. “All this while, he’s eligible. It took just like anything in life, just for me to actually ask him,” he said. “[W]e went through the process of Fiba, and now he has been cleared and he is now part of the Fiba portal as a local player.” Apparently, Malonzo—who was born to a Filipino mother—was able to secure a Philippine passport at the age of 8. The global basketball body requires players to acquire a passport before the age of 16 in order to suit up for the national team. “Over the past few years, she’s been—probably a thousand times—‘Why are you not eligible?’ She was able to go back, and find the paperwork. … [Read more...] about Jamie Malonzo cleared to play for Gilas Pilipinas as a local

Mark Magsayo after making weight ahead of his WBC featherweight fight vs Gary Russell. Jr. SHOWTIME MANILA, Philippines—Styles make fights as the old boxing adage goes. And two warriors from the Philippines and Mexico pitted against each other produce fireworks more often than not. Filipino champion Mark Magsayo hopes to add to that long list of epic Philippines vs Mexico bouts when he clashes with Mexican Rey Vargas on July 9 in San Antonio, Texas. Facing a fellow undefeated fighter in Vargas who is also a former champion, Magsayo has a golden opportunity to make a strong statement. He finds himself in the right place too. “I’m excited to be fighting in the same venue where my idol Manny Pacquiao fought Marco Antonio Barrera. That was the first fight I ever saw and the reason I started boxing,” said Magsayo as posted on Boxing Scene. Magsayo, who is defending the WBC featherweight title for the first time, is referring to the Alamodome where Manny Pacquiao stunned … [Read more...] about Mark Magsayo looks to make strong statement vs Mexican foe