Two senior Meta executives — Dan Neary, vice president for Asia-Pacific, and Kate Hamill, managing director for retail and e-commerce in North America — are leaving the company after more than a decade each in key leadership roles. The departures are unrelated. Neary, who joined Meta in 2013, announced his decision to step down in a LinkedIn post on Thursday. He described the move as the end of a "12-year run," during which he helped grow the company's business across the Asia-Pacific region.Based in Singa ...

President Donald Trump's new 25% tariffs on imported passenger vehicles, which analysts at JP Morgan have called "draconian," sent shares of Ford, GM, and Stellantis plummeting Thursday morning. While there are still unknowns about how the rules will be enforced, there's one clear winner: Tesla. The EV maker's stock shot up by 4% in trading on Thursday.So why are tariffs, which Wall Street believes could cost the auto industry as much as $82 billion and slash earnings at Detroit's Big Three by up to 60%, s ...

Core Insights - Boeing is experiencing a positive turnaround, securing significant defense contracts and new aircraft orders, which may enhance investor and customer confidence [1][8][9] - The company has seen a stock price increase of approximately 16% over the past six months, indicating a recovery from earlier lows despite broader market challenges [2] - Analysts project a future price target of $196 for Boeing shares, suggesting optimism about the company's prospects [3] Aircraft Orders and Production - Korean Air has finalized an order for 20 Boeing 777X planes, following similar orders from Japan Airlines and Malaysia Airlines for 17 and up to 60 new 737 Max aircraft, respectively [4] - The 777X program is significantly delayed, with its launch now expected in 2026, while the production of the 737 Max is currently capped at 38 units per month [4][5] - Boeing's backlog exceeds 6,000 aircraft, reflecting customer confidence despite previous delivery slowdowns [5] Leadership and Operational Improvements - CEO Kelly Ortberg aims to increase the 737 Max production rate to 42 units per month by year-end, contingent on meeting quality and safety standards [6] - The company plans to close the "shadow factory" for quality fixes, which is expected to enhance operational efficiency [6] - United Airlines' CFO expressed confidence in Boeing's delivery schedule, highlighting improvements in reliability as a supplier [7] Defense Contracts and Future Outlook - Boeing secured a $20 billion contract for the F-47 fighter jet, which is expected to bolster its defense business and improve employee morale [8][10] - The contract is seen as a significant boost for Boeing, especially after challenges faced in other defense programs [9][10] - Analysts believe that the new defense program will help attract and retain engineering talent, aiding in the company's cultural recovery [10][11]

Canada has frozen a $43 million rebate payment to Tesla and barred Elon Musk's company from similar national schemes. Transport Minister Chrystia Freeland directed Canada's Transport Department to halt all Tesla rebate payments while it examined each claim individually."No payments will be made until we are confident that the claims are valid," she told the Toronto Star on Tuesday. The move follows a surge in Tesla rebate claims, which spiked from 300 to about 5,800 a day before the scheme ended in January, ...

Core Insights - Tesla is currently facing significant challenges and is at a critical juncture in its operations [1] Group 1 - The company has experienced a tumultuous period recently, indicating instability in its business environment [1] - Insights were gathered from various stakeholders including employees, investors, analysts, and Tesla owners to assess the situation [1]

Core Insights - BYD has emerged as a significant competitor to Tesla in the electric vehicle market, briefly surpassing Tesla as the world's top seller of electric cars in December 2023 [1] - The company reported its best quarter ever on January 1, 2024, indicating strong sales performance [1] Company Developments - BYD has established a strong brand presence in China and is expanding its reach internationally, although its vehicles are not yet available in the American market [2] - The introduction of the BYD Shark, a competitor to Tesla's Cybertruck, showcases the company's commitment to innovation and market competition [2] - BYD's hybrid powertrain technology allows its sedans to achieve an impressive range of up to 1,250 miles on a single charge, enhancing its appeal to consumers [2]

Tesla's sales in Europe plunged in the first two months of the year, according to official industry figures released on Tuesday. Elon Musk's EV maker sold just under 27,000 vehicles in January and February, compared with more than 46,000 during the same period last year — a 42.6% decline.The European Automobile Manufacturers Association (ACEA) figures cover the European Union, UK, and European Free Trade Association countries of Iceland, Liechtenstein, Norway, and Switzerland. Tesla's slide comes despite wi ...

Core Viewpoint - Tesla is facing significant challenges due to Elon Musk's political involvement and the resulting public backlash, which has led to a decline in stock value and employee morale [2][4][28]. Group 1: Stock Performance - Tesla's stock has experienced a dramatic decline, down 31% year-to-date, with analysts describing it as the worst slump in auto industry history [6][20]. - Despite a recent rebound following Musk's all-hands meeting, the stock remains under pressure, with predictions of a potential 50% drop by 2025 [7][19]. - Tesla's stock has surged over 1,000% in the past five years, but recent events have raised concerns about its future performance [5][28]. Group 2: Employee Sentiment - Employees express mixed feelings about Musk's political entanglements, with some feeling unsettled and others desensitized to the company's ups and downs [11][12][14]. - Reports indicate that some employees are seeking new opportunities due to concerns over Musk's direction and its impact on Tesla's mission [13][15]. - Internal communication regarding Musk's political activities has been minimal, leading to anxiety among employees, especially those on visas [16][18]. Group 3: Market Competition - Tesla faces increasing competition from Chinese manufacturers like BYD, which are undercutting prices and innovating faster [10]. - The market for used Teslas is under pressure, with resale values dropping by approximately $10,000 compared to non-Tesla EVs [19]. - New Tesla registrations in the US fell by 11% in January, and in Europe, registrations dropped by an average of 44% in February [20]. Group 4: Public Perception and Brand Crisis - Tesla has become a political symbol, which has contributed to a brand crisis as public sentiment shifts against Musk [28][29]. - Incidents of vandalism and hostility towards Tesla vehicles have increased, reflecting the public's anger towards Musk's political actions [17][18]. - Some Tesla owners are selling their vehicles as a protest against Musk's behavior, indicating a potential long-term impact on sales [22][24].

The FBI has launched a task force to investigate threats made against Tesla, an agency official confirmed Monday. Ben Williamson, the assistant director for public affairs at the FBI, said in a post on X that the task force was launched with the Bureau of Alcohol, Tobacco, Firearms and Explosives "to coordinate investigative activity and crack down on violent Tesla attacks."The announcement came after a series of attacks and acts of vandalism against Tesla vehicles and showrooms around the country, as well ...

Tesla's fierce battle to remain the world's top EV company has just hit another roadblock. On Monday, Chinese EV giant BYD reported annual revenues of 777 billion yuan for 2024. At current exchange rates, that equates to roughly $107 billion. By contrast, Tesla's annual revenue last year was $97.7 billion.BYD's net profit jumped 34% year-over-year to just over 40 billion yuan, equivalent to $5.55 billion at current exchange rates. That exceeded analyst expectations of $5.44 billion, though it was below Tesl ...