The Fed on Silicon Valley Bank Collapse: We May Have Dropped the Ball There
Money/Business June 6, 2023
Federal Reserve Board Chairman Jerome Powell. Photo: Alex Wong (Getty Images) In a highly anticipated report on the collapse of Silicon Valley Bank, the Federal Reserve admits that it should’ve been paying slightly closer attention to the tech-centric bank before it unceremoniously collapsed last month. At the same time,... Read more
FTC Chair and Big Tech critic Lina Khan. Photo: Anna Moneymaker (Getty Images) The Federal Trade Commission will not appeal the court ruling rejecting its attempt to block the acquisition of VR fitness company Within by Facebook and parent company Meta. The regulator’s decision marks a major win for... Read more
The Model Y’s sticker price is no longer bridled by the government’s $55,000 cap to qualify for EV tax credits. The Model Y just got more expensive.Image: Getty Images Tesla raised the price of its Model Y electric vehicle (EV) just hours after the US Treasury Department adjusted its... Read more
The company is accused of discriminating against union organizers and threatening to freeze workers’ pay and benefits if they got to bargaining. Illustration by Alex Castro / The Verge A judge for the National Labor Relations Board has determined that Amazon broke labor laws in the run-up to union... Read more
GM has started producing the Hummer EV SUV
Money/Business May 13, 2023
There’s a new model of Hummer being made in the same factory as the existing electric truck. General Motors has started production on the Hummer EV SUV at its Factory Zero in Michigan, according to Nicole Schmitz, a spokesperson for the company. The Detroit Press reported Monday that customers... Read more
Cybertruck full volume production will not be realized until 2024, reveals Elon Musk. Photo by Sean O’Kane / The Verge Tesla’s long-anticipated Cybertruck won’t be seeing full volume production until 2024, Elon Musk said during the company’s fourth quarter earnings call today. During the call, Musk was asked whether... Read more
Lyft will start charging you wait time fees if you make a driver wait more than two minutes after their arrival. Lyft’s policy arrives a whole seven years after Uber implemented the same one.Photo by Smith Collection / Gado / Getty Images Lyft is cracking down on late passengers.... Read more
Chicken Fried Data: Chick-Fil-A Hit With Class-Action Privacy Lawsuit Over Video Data Collection
Money/Business May 9, 2023
Photo: Sheila Fitzgerald (Shutterstock) While Chick-fil-A was serving you sandwiches, it was also serving up data to Facebook’s parent company Meta. According to a new lawsuit filed Sunday, the fast food chain did that in a way that violated one of the only federal privacy laws in the United... Read more
The Tesla CEO, who is on trial for securities fraud, insists that his proposal to take the company private at $420 a share was not a weed joke. Musk spent most of today’s testimony doing what no one really should have to do: defend old tweets. Illustration by Laura... Read more
Lightyear has stopped production on its solar-powered EV after three months
Money/Business May 9, 2023
It says it plans to focus on producing a less expensive car aimed at the mass market. One of the first Lightyear 0s being made.Image: Lightyear Electric vehicle company Lightyear has announced that it’s halting production on the Lightyear 0, its €250,000 (around $270,000 USD) solar-powered car that the... Read more
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