Tesla reports 9 percent dip in first quarter revenue
Electric vehicle (EV) company Tesla on Tuesday announced that first-quarter sales fell 9% from a year earlier. The sales decline is Tesla’s biggest since 2012, as the company faces declining sales and increased competition. Tesla cut the prices of three of its best-selling cars (Model X, Model Y, and Model S) by $2,000 each on […]
Mortgage rates top 7 percent for first time in 2024
Mortgage interest rates exceeded 7% for the first time this year, according to new data It was released Friday by Freddie Mac. The average interest rate on a 30-year fixed-rate mortgage was 7.1% this week, up from 6.88% the previous week. “With interest rates trending higher, potential homebuyers are looking to either buy before rates […]
Tesla cutting 10 percent of workforce
Tesla plans to cut more than 10% of its global workforce, CEO Elon Musk said in a memo to employees on Monday. “Over the years, we have expanded rapidly with multiple factories around the world,” Musk said in the memo. Obtained by CNBC. “This rapid growth has led to duplication of roles and duties in […]
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Maryland lawmakers introduce bill requiring feds to pay 100 percent of Baltimore bridge repair
Members of Maryland’s congressional delegation introduced a bill Thursday that would make the federal government pay for the full cost of repairing the Baltimore bridge that collapsed when a ship struck it last month. The bill was sponsored by Democratic Sens. Ben Cardin and Chris Van Hollen, and all eight members of the Maryland House […]
Kentucky has ‘0 percent chance’ of luring Dan Hurley from UConn
Kentucky’s hopes of luring national championship-winning coach Dan Hurley from the university appear to be all but over. CBS Sports’ Matt Norlander reports. “The chance was 0%.” Harley will be leaving for Kentucky, Posted by Matt Jones of KSR A college coach turned down a “big offer.” In the midst of all this, Hurley himself […]
JPMorgan CEO warns interest rates could rise to 8 percent ‘or even more’
JPMorgan Chase & Co. CEO Jamie Dimon warned in a letter to shareholders on Monday that interest rates could rise above 8%. “[W]People are prepared for a very wide range of interest rates, from 2% to 8% or more, which will lead to an equally wide range of economic outcomes, such as strong economic growth […]
Annual inflation ticks higher to 3.5 percent in March
Inflation rose further in March, according to new Labor Department figures released Wednesday. The Consumer Price Index (CPI), a commonly used measure of inflation, rose 0.4% last month, or 3.5% annually, roughly in line with economists’ expectations. Economists had expected inflation to rise 0.4% in March, or 3.4% annually. The latest figures come after two […]
US foreign-born population grew 15 percent in 12 years
The foreign-born population of the United States has grown by 15% in 12 years, according to new statistics. report The U.S. Census Bureau announced Tuesday. In 2010, the country’s foreign-born population was approximately 40 million, representing 12.9 percent of the total population. That number has surged to 46.2 million people in 12 years and now […]
Trump Media stock continues downward slide, falling 10 percent at start of trading week
Shares of Trump Media & Technology Group, the parent company of former President Trump’s platform Truth Social, continued to fall at the start of the trading week on Monday, dropping another 10%. Trump Media stock closed at about $40 on Friday and was trading at about $36 as of Monday morning. The latest numbers mark […]