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Elon Musk’s role as President Trump’s cost-cutting czar and his immersion in right-wing politics appear to be diverting his attention from Tesla at a perilous moment for the electric car company. Tesla’s car sales fell 1 percent last year even as the global market for electric vehicles grew 25 percent. Mr. Musk has not addressed…
Nikola, an electric vehicle start-up that had once hoped to become the Tesla of heavy trucks, filed for bankruptcy protection on Wednesday. Founded in 2015, Nikola promised to develop long-haul semi trucks powered by hydrogen and electricity, and listed itself on the stock exchange in 2020 before it had sold a single vehicle. Its share…
Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment. Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief…
In Washington, Elon Musk has been at the forefront of Trump administration efforts to gut programs designed to promote diversity. At the same time, Tesla, the electric car company that Mr. Musk leads, has in recent days, with little notice, tried to appease critics who have accused the company of racial discrimination. In a little-noticed…
Markets around the world braced for volatile trading on Monday as investors began to assess the potential fallout from President Trump’s announcement of tariffs on Mexico, Canada and China. On Monday, markets in Japan and South Korea were more than 2 percent lower. The Taiwan Stock Exchange weighted index slumped around 4 percent. Overnight trading…
Howard Lutnick, a wealthy donor to President Trump who has been chosen to lead the Commerce Department, defended Mr. Trump’s plans to impose broad tariffs and said he would take a tough stance on technology sales to China during his Senate confirmation hearing on Wednesday. If confirmed, Mr. Lutnick would lead on trade policy and…
The sell-off that hit the biggest technology companies in the United States at the start of the week abated on Tuesday, with some of the hardest-hit shares finding their feet. Shares in tech companies, especially those propelled by the profit-making potential of artificial intelligence, fell on Monday after the Chinese A.I. company DeepSeek said it…
UnitedHealth Group reported on Thursday that it earned less than expected this past quarter, citing higher medical costs and pressure on its insurance division at a time when the company is still reeling from the shocking murder of a top executive last month. Revenues for UnitedHealth Group amounted to $100.8 billion for the fourth quarter,…
Robinhood was hit with $45 million in fresh fines from the Securities and Exchange Commission on Monday, the latest reprimand that the crypto-favorite brokerage has received from regulators. The violations laid out by the S.E.C. stretched from 2019 to 2023 and included a failure to protect sensitive customer data, employee use of encrypted messaging applications…
Constellation Energy, the nation’s largest nuclear power plant operator, has agreed to buy another electricity producer, Calpine, for $16.4 billion, a deal that shows how fast-rising demand for power, partly a result of the data centers technology companies are building for artificial intelligence and other services, is having far-reaching affects on the economy. The cash-and-stock…
