Former Tesla executive Drew Baglino recently made headlines when it was revealed that he sold shares in the electric vehicle company worth approximately $181.5 million. This news came shortly after Baglino announced his resignation from Tesla, adding to the growing list of departures from the company. Baglino had been with Tesla since 2006, working his
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Meta, previously known as Facebook, has been facing a myriad of challenges, as evident from the recent earnings call. Mark Zuckerberg, the CEO of Meta, discussed various aspects of the company’s future plans, including artificial intelligence, the metaverse, and the financial outlook. Despite reporting better-than-expected profits, Meta’s stock witnessed a significant drop, raising concerns among
In a surprising turnaround, South Korean memory chipmaker SK Hynix reported a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, marking a significant shift from the loss of 2.58 trillion won in the same period a year ago. This positive income was a welcome change after five consecutive quarters
The former CEO of cryptocurrency exchange Binance, Zhao, is facing a legal battle as U.S. prosecutors are pushing for a 36-month sentence for charges related to money laundering. This sentence is significantly higher than the 12 to 18 months advised under the guidelines. Prosecutors argue that such a harsh sentence is necessary to reflect the
Jack Dorsey, the co-founder of Block (formerly Square), recently announced the company’s ambitious plans to expand its bitcoin mining operations. This expansion includes not only designing chips but also developing a full bitcoin mining system. This move signals a significant shift in Block’s approach to the mining industry and aims to democratize access to bitcoin
Oracle Chairman Larry Ellison recently made headlines by announcing that the tech giant is relocating its world headquarters to Nashville, Tennessee. The decision was primarily driven by the city’s reputation as a major health-care epicenter. During a conversation with former U.S. Senate Majority Leader, Bill Frist, Ellison emphasized the importance of proximity to the health-care
The Philippines Securities and Exchange Commission (SEC) has taken action against cryptocurrency exchange Binance, a move that could have significant implications for investors in the country. The regulator raised concerns about Binance offering unregistered securities to Filipinos and functioning as an unregistered broker, which is a clear violation of the country’s securities laws. SEC Chairperson,
The recent price cuts made by Tesla and Li Auto on their electric vehicles have had a significant impact on their stock prices and market performance. Tesla shares dropped by 3% in premarket trading, while Li Auto hit an 11-month low following the price reductions. This indicates that investors are closely monitoring how price adjustments
The recent completion of the fourth Bitcoin halving event has reduced the rewards earned by miners from 6.25 bitcoins to 3.125 bitcoins. This reduction has caused a stir in the market, with the price of Bitcoin experiencing volatility leading up to the event. Despite the mechanical nature of the halving itself, which shouldn’t directly impact
The top Dutch government minister, Steven van Weyenberg, expressed confidence in the retention of ASML, the country’s chip-equipment maker, despite threats from the company to relocate its operations abroad. In a recent interview with CNBC, Weyenberg dismissed concerns regarding ASML’s potential move and underlined the company’s significance to the Dutch economy. He highlighted the government’s