Elon Musk denied a Reuters report that Tesla is scrapping plans for a $25,000 car.The inexpensive model has been an important part of Tesla's plans for several years.Tesla shares were down about 3% Friday morning. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept ou ...

Apple's recently announced initiative to develop home robots could be a setback for the company, Wedbush's Dan Ives said. He says leaning into artificial intelligence should by the company's priority. "If they went after robots, that would be a black eye moment for Apple," Ives said to CNBC this week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personali ...

Things are getting a bit more serious over at Apple this year.The company is laying off some 600 people who worked on expensive R&D projects.It comes as Apple faces several challenges that threaten its dominance. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our ...

Activist investor Nelson Peltz lost a long proxy war against Disney CEO Bob Iger.The Wall Street Journal reported that Peltz's hedge fund made around $300 million in profits from the battle.Still, Peltz's time could've been spent on other campaigns rather than activism. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time.Tesla may be able to turn things around after seeing a "nightmare" first quarter, according to Wedbush's Dan Ives.The analyst and longtime Tesla bull pointed to the carmaker's dismal performance over the last three-month period, with its stock plunging 32% since the start of the year and deliveries falling way short of expectations. That's made the first quarter an "unmitigated disaster" for Tesla, Ives s ...

Apple is exploring home robots in an effort to create its next major product, Bloomberg reported. It's working on a mobile robot that can follow users and a smart display one, per the report.The exploration of these devices comes after Apple killed its self-driving car project.  NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on ...

Bob Iger seems to have convinced investors that he's really turning Disney around.But he won't get a final grade until he does the one thing he's been very bad at — finding a successor.We won't know how that pans out for some time. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign ...

A powerful earthquake in Taiwan forced chip maker TSMC to suspend operations at some sites.That could mean production delays for companies like Apple, which relies on its chips.The world's biggest chipmaker says it expects to resume operations overnight, Bloomberg reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the g ...

Disney shareholders have voted to stick with the company's board.It's a victory for CEO Bob Iger against activist investor Nelson Peltz.The vote marks the end of an expensive and brutal proxy battle between the two.  NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept ...

Amazon is reportedly laying off hundreds of workers in yet another round of cuts this year.The latest round of job cuts will impact employees in its cloud division, Amazon Web Services, Bloomberg reported. Sales and marketing workers will be hit, in addition to the team working on building tech for its retail stores, the report said.An Amazon spokesperson told Bloomberg, "We've identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key stra ...