Musk says Tesla’s new car factories ‘losing billions of dollars’

Musk says Tesla’s new car factories ‘losing billions of dollars’

Tesla Inc’s TSLA-Q new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. “Both Berlin and Austin factories are gigantic money furnaces right now. OK? It’s … Read more

Crypto Workers Behind Terra and Luna Are Facing a Flight Ban

Crypto Workers Behind Terra and Luna Are Facing a Flight Ban

The ongoing crypto crash has brought a lot of investors back down to earth. In the case of current and former Terraform Labs employees, it’s keeping them literally grounded. Dozens of past and present staff from the company behind two notorious crypto coins, terraUSD and Luna, have been barred from leaving South Korea, according to … Read more

Freeland defends budget after Scotiabank accuses feds of ‘doing nothing’ on inflation – National

Freeland defends budget after Scotiabank accuses feds of ‘doing nothing’ on inflation – National

A cut in planned government spending could help tame rampant inflation and reduce pressure on the Bank of Canada to hike interest rates, according to a report from Scotiabank. The report from the bank’s chief economist Jean-Francois Perrault and modeling director René Lalonde claims that Canadian fiscal policymakers are “doing nothing of any significance to … Read more

Stocks are still too expensive and rising rates may shock financial system, Seth Klarman warns

Stocks are still too expensive and rising rates may shock financial system, Seth Klarman warns

Investment legend Seth Klarman went back to his roots at the Harvard Business School to declare that the stock market is still too pricey even with its slide this year. “You’ve got a stock market that’s one of the most expensive ever,” said the chief executive of the value-focused Baupost Group, in an interview posted … Read more

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk. The last time bitcoin was … Read more

Flair is Canadian, but ‘not perfect,’ CEO admits. What’s next for the airline?

Flair is Canadian, but ‘not perfect,’ CEO admits.  What’s next for the airline?

Flair Airlines’ CEO says he’s confident his ultra-low-cost airline is ready to take advantage of the summer travel boom after satisfying regulators that it’s Canadian enough to fly. But even as its chief executive concedes to Global News there’s room for improvement, analysts say headwinds facing the aviation industry like soaring fuel prices could actually … Read more

Rattled by the market? Think twice before fleeing to GICs

Rattled by the market?  Think twice before fleeing to GICs

I have more than $15,000 of cash that I want to invest in a guaranteed investment certificate to wait out the market turmoil. What do you think of this approach? It’s natural to want to seek safety when markets are tanking. But before you lock up your money in a GIC, consider using the market’s … Read more

Bitcoin and crypto platforms are in trouble. What’s behind the collapse? – National

Bitcoin and crypto platforms are in trouble.  What’s behind the collapse?  – National

The plummeting value of Bitcoin and turmoil across major cryptocurrency platforms has many investors fretting about their digital wallets and leaders in the space warning about a “crypto winter.” So what’s happening, and what does it mean for your portfolio? Here’s what you need to know. What’s happening to Bitcoin? Bitcoin is continuing a downward … Read more

1 in 4 homeowners say rising mortgage rates could push them to sell: survey – National

1 in 4 homeowners say rising mortgage rates could push them to sell: survey – National

Rising interest rates are pushing more homeowners to a place where they can no longer afford their mortgage payments, according to a new debt survey from Manulife Bank of Canada. The online survey, conducted between April 14 and April 20, found that 18 per cent of homeowners polled are already at a stage where they … Read more

Celsius Crypto Platform Halts Withdrawals as Bitcoin Tanks 13%

Celsius Crypto Platform Halts Withdrawals as Bitcoin Tanks 13%

Celsius founder and CEO Alex Mashinsky as he appeared in a promotional video for Celsius uploaded to YouTube.screenshot: Celsius / YouTube The Celsius crypto network has halted all trading, including withdrawals, according to a press release from the company released overnight. The unusual move comes as major cryptocurrencies plummeted over the weekend and there are … Read more