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Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Musk said on Wednesday that growth would be «notably lower» as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries. But he said ramping up production of the new model would be challenging because it would involve cutting-edge technologies. Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on Thursday. That pushed its market capitalization loss for the month to about $210 billion. «The Tesla headlines have essentially gone from bad to worse,» said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations. Shares of other EV makers also fell, with Rivian Automotive Inc, Lucid Group and Fisker down between 4.7% and 8.8%. The EV industry has been grappling with a slowdown in demand for more than a year and the price cuts by Tesla will likely worsen the pressure on the startups and automakers such as Ford . «The problem for Tesla is any significant attempt to boost sales from here on will probably need to be achieved at the cost of further falls in operating margin, due to having to compete with BYD in China, as well as increased competition elsewhere,» said Michael Hewson, chief market analyst at CMC Markets. At least nine brokerages downgraded the stock, while seven raised their ratings.

Elon Musk hinted slowdown in sales this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition, according to a Reuters report. Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on January 25. That pushed its market capitalization loss for the month to about $210 billion.

Dogecoin (DOGE) price declined as nn occurrence that raised concerns among investors. Meanwhile, a new altcoin was on the onset of disrupting the market dynamics by overshadowing well-established coins like Dogecoin to become the best crypto to invest in.

Tesla tumbled seven per cent on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins and raised investor concerns at the world’s most valuable automaker.

Lionel Messi has won futbol’s biggest prize

XBTO has officially lost its place as Inter Miami FC’s headline sponsor, with cruise liner Royal Caribbean taking the crypto firm’s place.

By Aditya Soni

BENGALURU : Tesla tumbled more than 8% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins and raised investor concerns at the world's most valuable automaker. Musk said growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries. But his remarks fell flat with investors, with Tesla set to lose more than $50 billion in market value, if premarket loss hold.

The Bank of Canada held its benchmark interest rate at five per cent for the fourth consecutive time on Jan. 24. Here’s what economists, who widely expected the bank to hold, had to say about the announcement and when Canadians can expect a rate cut from the central bank.

AI technology or artificial intelligence has been making headlines as there are apprehensions that it will cut jobs for humans. One such potential victim has been identified as professional photography. The rapid progress in AI and image processing is reshaping the landscape of photography, shifting it from being primarily skill-based to an art form that is increasingly influenced and driven by technology. This transformation is expanding access to high-quality photography for a wider audience, challenging the conventional perception of professional photography as merely a skill-based endeavor, Fox reported quoting a report on Medium.

(Reuters) -Mexican headline inflation persisted in its upward trend for the fifth half-month in a row, above forecasts, according to official data released on Wednesday.

By Jonathan Cable

MANILA (Reuters) -Philippine Finance Secretary Ralph Recto said on Wednesday inflation remains a «most urgent concern» and must be kept under control.

Lionel Messi showed off a new jersey, then helped christen a new ship

As the stock market hit all-time highs this past week, there remains an interesting disconnect from the more dour economic concerns of the average American. A recent survey by Axios, a left-leaning website that supports the current Administration, addressed this issue:

The «American Nightmare” Cody Rhodes, Rhea Ripley and Bianca Belair are the cover stars for WWE 2K24 video games

Unions commanded big headlines last year, but that didn’t translate into higher membership numbers, according to government data released Tuesday

Canada’s economy hit a technical recession at the end of 2023 and will continue to struggle to grow in the new year, according to forecasts from the Canadian Federation of Independent Business.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Futu, Apple, and IBM; downgrades for Boeing.

Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world

₹400 crore at the box office in India in less than a month. The action-packed extravaganza has cumulatively earned around ₹610 crore worldwide. Prashant Neel's directorial venture raked in ₹308 crore net in the first weekend.