Afghan - Pakistan tensions remain high after weekend clashes
Tensions between Afghanistan and Pakistan are showing no signs of waning after a weekend of clashes on the volatile Afghan border between the security...
Elon Musk announced he will sharply reduce his involvement in the Trump administration’s Department of Government Efficiency starting next month, shifting focus back to Tesla amid mounting investor pressure and falling sales.
Tesla CEO Elon Musk announced on Tuesday that he will significantly reduce the amount of time he spends on work related to the Trump administration, beginning next month, in order to dedicate more attention to his various companies, particularly Tesla.
Musk has been at the forefront of the Department of Government Efficiency (DOGE), a controversial initiative within the Trump administration focused on cutting federal jobs. His involvement has sparked widespread protests and acts of vandalism at Tesla showrooms, while shareholders have increasingly voiced concerns that Musk’s government commitments have distracted him from addressing Tesla’s declining sales.
“With much of the heavy lifting to establish the DOGE team and collaborate with the government to restore financial discipline now completed, I’ll be scaling back,” Musk said during an earnings call with analysts. However, he clarified that he still expects to allocate around 40% of his time to the initiative.
Tesla stock, which had already gained 4% in after-hours trading ahead of the earnings call, surged further to a 5.5% increase following Musk’s comments. Despite the jump, Tesla’s share price remains nearly 50% below its December peak.
In its post-market earnings report, Tesla posted stronger-than-expected profits in its core automotive business and confirmed it was on track to begin production of a more affordable electric vehicle. However, the company warned it would reevaluate its growth outlook in the next quarter, citing uncertainty tied to evolving global trade policies and shifting political dynamics that could affect consumer demand.
Trade tensions with China added further complications. Tesla has paused some component imports from China in response to the U.S. raising tariffs on Chinese goods to 145%. In retaliation, China imposed its own tariffs, prompting Tesla to suspend new Model S and Model X orders in the Chinese market.
Musk reiterated his stance in favor of lower tariffs and acknowledged the broader challenges facing the auto industry. “Tesla isn’t immune to changes in macroeconomic demand,” he said. “When people are uncertain about the economy, they tend to delay major purchases like cars.”
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
Tensions between Afghanistan and Pakistan are showing no signs of waning after a weekend of clashes on the volatile Afghan border between the security forces of the two countries.
The International Committee of the Red Cross has said that it may take a considerable amount of time to hand over remains of hostages who died in Hamas detention given the difficulties of finding bodies in Gaza's rubble.
Israel's military said it opened fire on Tuesday to remove a threat posed by suspects who approached its forces in the northern Gaza Strip, and health authorities in Gaza said at least six Palestinians had been killed by Israeli fire.
Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners.
Prime Minister Sebastien Lecornu will address parliament on Tuesday to spell out his budget priorities, hoping to win over enough Socialists to stave off losing a no-confidence vote that would plunge France further into the political mire.
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