Tesla has slashed 14% of its workforce so far this year as Elon Musk’s electric car maker has been hamstrung by increasingly fierce competition from Chinese EV firms as well as reduced demand for his products, according to a report.As of Friday, Tesla’s internal email list numbered 121,000 people — down from a global workforce of 140,473 as of Dec. 31 of last year, according to CNBC.The Comcast-owned financial news channel obtained an email written by Musk and addressed to “everybody” on Tesla’s payroll dat ...

Apple has become the first US tech giant to be charged under the European Union’s tough new antitrust tech law — potentially exposing it to billions of dollars in fines for allegedly stifling developers in its App Store.The iPhone maker has allegedly breached the EU’s Digital Markets Act by preventing app developers from easily steering customers to cheaper offers outside the App Store, the European Commission said Monday.If confirmed to have breached the law, Apple could be fined up to 10% of its total wor ...

Facebook parent Meta Platforms has discussed integrating its generative AI model into Apple’s recently announced AI system for iPhones, the Wall Street Journal reported on Sunday.The move comes as Apple plans to add technology from other AI companies on its devices amid reports that it was discussing a potential tie-up with long-time search partner Alphabet’s Google.The iPhone maker is also expected to discuss partnerships with other AI companies in different regions like China, where Microsoft-backed OpenA ...

The state of Missouri has filed a lawsuit against the technology giant, International Business Machines Corporation (IBM), for unlawful practices in allegedly requiring racial and gender quotas in its hiring and promotion structures for employees. Missouri Republican Attorney General Andrew Bailey filed suit Thursday against the company, alleging that such practices are a violation of the Missouri Human Rights Act. “It has come to my attention that IBM has adopted an unlawful policy that blatantly favors ap ...

Core Viewpoint - Boeing's CEO Dave Calhoun has publicly acknowledged the company's shortcomings in safety and accountability, particularly in light of recent incidents and ongoing investigations related to the 737 MAX aircraft [1][8]. Group 1: Accountability and Investigations - Calhoun expressed a commitment to transparency and taking responsibility during a Senate hearing, marking his first appearance before lawmakers regarding Boeing's safety issues [2]. - Senator Richard Blumenthal indicated that there is substantial evidence for the U.S. Justice Department to consider prosecuting Boeing for failing to comply with a deferred prosecution agreement [2]. - A new whistleblower, Sam Mohawk, reported systemic issues at Boeing, including a 300% increase in nonconformance reports since the resumption of 737 MAX production [4]. Group 2: Safety Concerns and Regulatory Scrutiny - Following a mid-air incident on January 5 involving a 737 MAX 9, scrutiny from regulators and airlines has intensified, with the National Transportation Safety Board noting missing bolts on the aircraft [10]. - The FAA's head acknowledged that the agency had been "too hands off" in its oversight of Boeing prior to the January incident, leading to increased regulatory scrutiny [10]. - Boeing has submitted a quality improvement plan to the FAA to address systemic quality-control issues, which has resulted in a halt on expanding production of the MAX [12]. Group 3: Company Culture and Future Direction - Calhoun admitted that Boeing's culture is far from perfect but emphasized that the company is taking action to improve [8]. - Blumenthal described the hearing as a "moment of reckoning" for Boeing, urging the company to focus on long-term safety and quality rather than short-term profits [8].

AI chipmaker Nvidia surged past Apple and Microsoft to become the most valuable company in the world – the latest milestone as Wall Street investors chase the booming artificial-intelligence sector.Shares of California-based Nvidia, whose chips are in hot demand by industry leaders ranging from Microsoft-backed OpenAI to billionaire Elon Musk’s Tesla and xAI, rose more than 3% in midday trading on Tuesday. Nvidia’s stock has swelled by more than 180% since the start of the year.The latest uptick pushed the ...

European Union antitrust cops have identified several “very serious” issues with Apple’s business practices that are potentially noncompliant with the bloc’s digital business law, competition chief Margrethe Vestager warned Tuesday.Apple has faced ongoing scrutiny of its App Store practices in Europe — with EU officials investigating whether it has fully complied with rules requiring it to allow third-party developers to “steer” customers to cheaper product offers outside their app stores.Vestager revealed ...

Fisker filed for bankruptcy protection late Monday, as the US electric-vehicle maker looks to salvage its operations by selling assets and restructuring its debt after burning through cash in an attempt to ramp up production of its Ocean SUVs.The hyper-competitive EV market has seen several companies, including Proterra, Lordstown and Electric Last Mile Solutions, file for bankruptcy in the past two years as they grappled with weakening demand, fundraising hurdles and operational challenges from global supp ...

The NFL’s Christmas Day games may have a new home, but prices for commercial slots aren’t budging much.According to Bill Bradley of ADWEEK, the five ad packages for pro football’s Christmas games on Netflix will each cost at least $5 million.The packages are categorized by pre-game, halftime, in-game feature No. 1, in-game feature No. 2 and post-game, with the last one the most expensive. 3 Netflix will become the fourth non-cable channel to carry an NFL game this season. AFP via Getty ImagesBradley detai ...

Kansas on Monday sued Pfizer, accusing the company of misleading the public about its COVID-19 vaccine by hiding risks while making false claims about its effectiveness.In a lawsuit filed in the District Court of Thomas County, the state said the New York-based drugmaker’s alleged false statements violated the Kansas Consumer Protection Act. It is seeking unspecified money damages.“Pfizer made multiple misleading statements to deceive the public about its vaccine at a time when Americans needed the truth,” ...