Tesla's quarterly deliveries declined for the first time in nearly four years and fell short of Wall Street analysts' estimates amid a challenging competitive landscape in the EV market and questions regarding the company's direction. The Elon Musk-led automaker's stock declined by 4.9% during Tuesday's trading session and slid a further 0.28% in after hours trading, with the stock down nearly 33% on the year. That followed Tesla's announcement that it delivered roughly 387,000 vehicles in the first quarter ...

Chinese electronics maker Xiaomi is reportedly informing buyers of its new SU7 electric vehicle that they could face wait times of up to seven months. Apparent demand for the Tesla rival's EV has helped drive potential multi-month delivery wait times for its three models, Reuters reported Monday.Of the three SU7 models, the Max showed the longest potential delivery wait-time, 27-30 weeks, on Xiaomi’s car app, according to the outlet. The delivery wait times for the base and Pro versions of the SUV could be ...

Disney and activist investors have been exchanging jabs in the lead-up to the entertainment giant’s Wednesday shareholder meeting. The back-and-forth has arisen out of the ongoing proxy fights Disney is having with two entities, Trian Group and Blackwells Capital.  Proxy fight started late last yearThe Trian Group and Nelson Peltz, who founded Trian Fund Management, officially kicked off their latest proxy fight with Disney late last year. The group holds over $3.5 billion of Disney shares. GET FOX BUSINESS ...

Tesla's first-quarter delivery figures that are expected to be released next week are forecast to be relatively soft amid intensifying competition and lagging demand — a dynamic that has investors on edge ahead of the release. The EV maker, led by Elon Musk, is bracing for a slowdown in 2024 after years of rapid sales growth, with analysts lowering their expectations for the company's first-quarter deliveries to account for a slowdown. Tesla delivered 422,875 vehicles in the first quarter of 2023 — a level ...

Texas Attorney General Ken Paxton on Thursday announced an investigation into Boeing parts supplier Spirit AeroSystems regarding its operations, as well as the company's diversity, equity and inclusion (DEI) initiatives. Spirit AeroSystems is one of the largest manufacturers of aircraft parts in the world and makes the fuselages for the Boeing 737 and 787, as well as the Airbus A350 and the wings for the A220. The company's work with Boeing has faced scrutiny in the wake of the midair blowout of a 737 Max 9 ...

Tesla is getting some more EV competition in China. It is coming from Xiaomi, a Chinese consumer electronics company that officially introduced its electric SU7 sedan during a Thursday event involving co-founder Lei Jun, Barron’s reported.The cheapest model of the SU7 has a price tag that equates to roughly $30,000, according to the outlet. Xiaomi is reportedly working with Beijing Automotive Group Co. on its manufacturing. CLICK HERE TO READ MORE ON FOX BUSINESSThe vehicle is expected to vie with the Model ...

Blackrock CEO Larry Fink, who oversees $10 trillion, running the world’s largest asset manager, is no stranger to things being big. Still, the explosive growth of spot bitcoin exchange-traded funds, especially the firm’s, caught even the seasoned Wall Street executive off guard.  "I am very bullish on the long-term viability of bitcoin," he said Wednesday during an interview on "The Claman Countdown." The cryptocurrency has been climbing and hit a fresh all-time high of $71,000 this week. "That surprised me ...

Senator Elizabeth Warren, D-Mass., sent a letter to the Securities and Exchange Commission (SEC) last week urging the financial regulator to investigate Tesla's board of directors for conflicts of interest with CEO Elon Musk. Warren's letter comes as a follow-up to a July 2023 letter she sent to the SEC calling for Elon Musk and the board to be investigated due to what she said was the board's "failure to address possible misappropriation of Tesla resources and conflicts of interest arising from Mr. Musk's ...

China has put in place new guidelines aimed at phasing out U.S.-made microprocessors from Intel and AMD from being used in the government's personal computers and servers, according to a report from the Financial Times on Sunday. The new procurement guidance also looks to bring an end to the use of Microsoft's Windows operating system as well as foreign-made database software on Chinese government devices in favor of domestic options, the report said.Government agencies above the township level have been to ...

Shoppers value convenience so much they are willing to pay more for it, according to Walmart U.S. CEO John Furner.  "I think an underlying trend that has really shown up and is with us and I think is here to stay is convenience," Furner said during the National Retail Federation (NRF) 2024 State of Retail & the Consumer discussion on Thursday. According to Furner, "people are willing to trade off, in some cases, prices for things that are more convenient."  WALMART CREATING 150 NEW STORES, REDESIGNING HUNDR ...