Tesla Inc. shares surged over 5% on Monday after Morgan Stanley analyst Adam Jonas said the electric vehicle maker had effectively “solved” autonomous driving, sparking renewed investor optimism around the company’s self-driving and robotaxi ambitions. The comments followed CEO Elon Musk’s recent claims that Tesla could remove safety drivers from its robotaxis in Austin, Texas, […]
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Tesla’s board has warned that CEO Elon Musk could step down if his proposed $1 trillion pay package fails to win shareholder approval at the upcoming annual meeting. The warning, according to Reuters, was issued in a letter from chair Robyn Denholm. It marks a turning point for the world’s most valuable electric carmaker, which […]
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Elon Musk has officially unveiled Grokipedia, his artificial intelligence-powered platform that aims to rival Wikipedia with a focus on “truth-based” content. The platform, launched on Monday, integrates with Musk’s Grok AI and claims to provide an open-source alternative to the community-edited encyclopedia. According to Musk, Grokipedia’s mission is to deliver “the truth, the whole truth […]
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Dow futures plunged over 450 points or 0.76% on Tuesday as traders weighed mixed earnings and questioned whether AI stocks can offset ongoing market concerns. While technology stocks, particularly in the AI sector, have driven gains recently, the Dow’s futures movement suggests profit-taking and some risk aversion ahead of a key earnings week. Overall, the […]
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The cryptocurrency market took a nosedive on Tuesday, with Bitcoin plummeting 17% from its yearly high and major altcoins bleeding red across the board. Yet amid the carnage, an unlikely hero emerged, privacy coins. While Ethereum, Solana, and BNB suffered double-digit losses, Decred (DCR) skyrocketed 238% to $62, shattering a three-year record, while Dash (DASH) […]
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Travel disruptions are looming as the FAA prepares to cut flights across major US airports amid the ongoing government shutdown. In the commodities market, Russian oil prices are sliding as India and China scale back purchases under new US sanctions. Meanwhile, GLP-1 weight-loss drugs are set for major price relief under a new federal plan, […]
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ESPN has officially ended its partnership with Penn Entertainment (NASDAQ: PENN) and named DraftKings Inc (NASDAQ: DKNG) as its new exclusive sportsbook partner. The announcement arrives just two years after ESPN Bet launched under a 10-year licensing deal with PENN. That agreement has now been scrapped – with Penn set to rebrand the sportsbook as […]
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US equities retreated on Thursday as artificial intelligence–linked stocks came under renewed selling pressure, weighing heavily on major indexes. The decline came as investors reassessed lofty valuations in the AI sector while digesting concerning labor market data that hinted at broader economic strain. The Dow Jones Industrial Average fell 287 points, or 0.6%, while the […]
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The South African rand, often seen as a bellwether for the emerging market currencies, has soared to the highest point since September last year. The USD/ZAR exchange rate has soared to a low of 17.14, down by over 14% from its highest point this year. Why the South African rand has soared. The South African […]
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The Zimbabwe ZiG currency has done relatively well this year, helped by the ongoing gold price rally, weaker dollar, and the higher interest rates by Zimbabwe’s central bank. ZIG, whose ticker symbol is ZWG, has remained at 26.70 in the past few months, slightly above the January 1 level of 25.6. Soaring gold price has […]
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