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Tesla's Profit Falls 55%, iPhone Fading in China and FTC Bans Non-Compete Clauses
Anna Eisenberg
April 23, 2024
Anna's Daybreak News
Wednesday, 5:36 AM
April 24, 2024
Good morning news friend! Navigate the turbulent seas of news, staying updated on the ever-changing currents of global events. 📰🌟
Tesla's Profit Fell 55%
Tesla's net income plunged 55% in Q1 of 2024 compared to last year. They reported a revenue drop of 9%, amounting to $21.3 billion.
Tesla's gross profit margin also decreased from 19.3% last year to 17.4%. Why? The Full Self-Driving system, now adjusted to $8,000— costs a third less than its previous price.
Despite all this, Tesla's stock saw an increase of 13.2% post-announcement
The company is pinning future growth hopes on the launch of cheaper models and a robotaxi, slated for reveal by CEO Elon Musk in August.
Source: Read More
Tesla's net income plunged 55% in Q1 of 2024 compared to last year. They reported a revenue drop of 9%, amounting to $21.3 billion.
Tesla's gross profit margin also decreased from 19.3% last year to 17.4%. Why? The Full Self-Driving system, now adjusted to $8,000— costs a third less than its previous price.
Despite all this, Tesla's stock saw an increase of 13.2% post-announcement
The company is pinning future growth hopes on the launch of cheaper models and a robotaxi, slated for reveal by CEO Elon Musk in August.
Source: Read More
FTC Bans Non-Compete Clauses
The US Federal Trade Commission (FTC) has voted to impose a near-complete prohibition on non-compete agreements.
This rule prevents workers from being restricted to their current companies, allowing more freedom to switch jobs within their industry.
The move targets non-compete clauses that currently impact around 20% of U.S. workers. These agreements have been criticized for stifling competition and limiting employee mobility.
Meanwhile, the US Chamber of Commerce has expressed strong opposition, promising to challenge the ruling in court immediately.
Source: Read More
The US Federal Trade Commission (FTC) has voted to impose a near-complete prohibition on non-compete agreements.
This rule prevents workers from being restricted to their current companies, allowing more freedom to switch jobs within their industry.
The move targets non-compete clauses that currently impact around 20% of U.S. workers. These agreements have been criticized for stifling competition and limiting employee mobility.
Meanwhile, the US Chamber of Commerce has expressed strong opposition, promising to challenge the ruling in court immediately.
Source: Read More
Do you think the US will be able to avoid a recession? |
Is the iPhone Fading in China?
In Q1 2024, Apple experienced a 19% drop in smartphone shipments in China, marking its worst quarter since 2020.
Concurrently, Apple's market share decreased from 19.7% to 15.7%, almost tying with Huawei, which escalated its sales by 70%.
Apple also recorded a nearly 10% fall in global smartphone shipments, losing the global top spot to Samsung.
Apple hopes to regain traction by introducing new color options and aggressive sales initiatives, but will it be enough?
Source: Read More
In Q1 2024, Apple experienced a 19% drop in smartphone shipments in China, marking its worst quarter since 2020.
Concurrently, Apple's market share decreased from 19.7% to 15.7%, almost tying with Huawei, which escalated its sales by 70%.
Apple also recorded a nearly 10% fall in global smartphone shipments, losing the global top spot to Samsung.
Apple hopes to regain traction by introducing new color options and aggressive sales initiatives, but will it be enough?
Source: Read More
Anatomy of a $46M Green Swindle
In 2022, Rhino Onward International (ROI), led by Paul Croft and J.D. Frost, promised breakthroughs in green hydrogen production.
However, the founders allegedly misused $46 million of investor funds to support their lavish lifestyles.
Initially raising $31 million from over 200 investors, the company was purported to build a $530 million green hydrogen plant in Arizona.
Investigations reveal that only $200,000 went into the business, with the majority being diverted for personal luxuries such as luxury cars and paying off personal debts.
Source: Read More
In 2022, Rhino Onward International (ROI), led by Paul Croft and J.D. Frost, promised breakthroughs in green hydrogen production.
However, the founders allegedly misused $46 million of investor funds to support their lavish lifestyles.
Initially raising $31 million from over 200 investors, the company was purported to build a $530 million green hydrogen plant in Arizona.
Investigations reveal that only $200,000 went into the business, with the majority being diverted for personal luxuries such as luxury cars and paying off personal debts.
Source: Read More
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Anna Eisenberg ❤️
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