Former Tesla executive Drew Baglino recently announced his resignation from the electric vehicle company. Along with this announcement, it was revealed that Baglino sold around $181.5 million worth of shares in Tesla. This move came as a surprise to many, as Baglino had been with Tesla since 2006. The filing with the SEC indicated that
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Mark Zuckerberg’s recent earnings call with Meta left investors feeling uneasy as he delved into discussions about artificial intelligence and the metaverse. While touting the company’s latest innovations in headsets, glasses, and operating systems, Zuckerberg’s focus on the financial losses Meta incurs did not sit well with investors. The stock price plummeted by 19% in
South Korean memory chipmaker SK Hynix recently reported a significant net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, marking a notable turnaround from a loss of 2.58 trillion won in the same period a year ago. This positive income comes after a challenging period of five consecutive quarters of
U.S. prosecutors are pushing for a hefty 36-month prison sentence for the former CEO of Binance, a major cryptocurrency exchange. The reason behind this request is the alleged involvement of Zhao in enabling money laundering activities. The prosecution believes that Zhao’s crimes are severe enough to warrant a sentence well above the advisory guidelines. The
Oracle Chairman Larry Ellison made a surprise announcement about the company’s decision to move its headquarters to Nashville, Tennessee. Ellison highlighted the move as a strategic decision to be closer to a major health-care epicenter. The company plans to establish a huge campus in Nashville that will serve as its new world headquarters. According to
Jack Dorsey, the CEO of Block (previously known as Square), has recently announced plans to broaden the company’s bitcoin mining ambitions. In a recent post, Block revealed that they have successfully developed their own standalone three-nanometer bitcoin mining chip and are now in the process of finalizing the design with a “leading global semiconductor foundry.”
The Philippines’ Securities and Exchange Commission (SEC) has taken decisive action against cryptocurrency exchange Binance by ordering Google and Apple to remove the Binance app from their respective app stores. The regulator cited concerns about the security of Filipino investors’ funds and accused Binance of offering unregistered securities and operating as an unregistered broker, in
Tesla, the U.S. electric vehicle (EV) giant, recently made headlines by cutting the starting price of its Model 3 in China to 231,900 yuan ($32,000). This move represented a 14,000 yuan reduction and was part of a larger strategy to remain competitive in the market. Additionally, Tesla also slashed prices in other major markets, such
Bitcoin network recently completed its fourth “halving,” marking a significant milestone in the world of cryptocurrency. The rewards earned by miners have been reduced to 3.125 bitcoins from 6.25. This event has generated a lot of buzz in the market as investors eagerly anticipate the potential impact on the price of bitcoin in the coming
ASML, the Netherlands’ chip-equipment maker, has expressed concerns about the country’s recent decisions regarding labor migration restrictions and tax breaks. In a statement from ASML CEO Peter Wennink, the company emphasized the importance of skilled migrants for innovation, threatening to relocate if necessary measures were not taken to support growth. The company’s EUV machines play