Elon Musk Apologizes For Underpaying Laid-Off Workers But Still Demands His Own $56 Billion Pay Day

Good morning! It’s Thursday, April 18, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Walter Isaacson On Elon Musk(s) 1st Gear: Elon Musk Actually Apologizes For Something Elon Musk said some of … Read more

Tesla Creates Website To Convince Shareholders To Make Elon Musk $55 Billion Richer

Elon Musk is filthy, stinking rich. Despite Tesla’s current troubles resulting in his net worth tumbling a few billion, he’s still the third richest person on the planet. Apparently that wealth isn’t enough for him or Tesla. Now, the company actually created a website to convince shareholders that their part-time CEO deserves a $55 billion … Read more

Volatile global conditions cast shadow over budget

Heightened tensions in the Middle East and fears over China’s economic downturn have led Australia to make cuts to its international economic forecasts, with Treasurer Jim Chalmers warning of a “fraught and fragile” global outlook ahead of the May budget. The budget has upgraded forecasts for China’s GDP growth to 4.25 per cent in 2024, … Read more

Think $5.50 is too much for a coffee? It’s actually not expensive enough

This article was first published in The Conversation. Even in a stubborn cost-of-living crisis, it seems there’s one luxury most Australians won’t sacrifice – their daily cup of coffee. Coffee sales have largely remained stable, even as financial pressures have bitten over the past few years. Newsletters: Breaking news as it happens. Subscribe now So … Read more

Tesla Stock Down 40 Percent Over Last Year, Wiping Away $312 Billion In Market Cap

Good morning! It’s Friday, April 19, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. 1st Gear: Tesla’s Stock Is In Freefall It has been an absolutely dismal year for Tesla’s stock price … Read more

Headache-Worthy Cars, Car Buying Horror Stories And Blameless Automakers In This Week’s QOTD Roundup

Image: Standret (Shutterstock) My family has had the same mechanic for what must be 20 years now. He’s less a mechanic and more family at this point. He’s always completely honest and accommodating, and has saved us thousands of dollars over the years by getting our cars back on the road in a timely and … Read more

Bitcoin Miners Brace for the ‘Halving’—and Race to Cash In

By the end of Friday, the size of the reward for mining bitcoin will have been cut in half. The event—known as the halving—takes place roughly once every four years, and it can be fatal for the mining companies that compete for the newly minted cryptocurrency. “You don’t see that in any other industry,” says … Read more

‘Pressures’: Jim Chalmers’ warning to Aussies before budget

Jim Chalmers says next month’s budget will be underpinned by “five pressures” on Australia’s economy. In a discussion with other G20 finance ministers in Washington overnight, the Treasurer laid bare the fine line Australia had to walk as it sought to grow, while the economy slowed. He said five global pressures – lingering inflation, slowing … Read more

EVs Are Still Too Expensive For Buyers, Despite Huge Discounts

Electric vehicles are seeing huge discounts right now, but those new lower prices are still not enough to get folks to, y’know, buy them. Now, an ever-more-bloated EV inventory is pushing automakers and dealers to slash prices even further. Five-figure price discounts are no longer out of the question. Even EVs Can’t Get A Break … Read more

$10 Doesn’t Buy Much These Days, But It’ll Get You 3 Shares Of Vinfast With Some Change Left Over

Photo: VinFast Considering how bad our first experience with the VinFast VF8 was, it didn’t seem like the best idea for VinFast to go public. Then again, no one at Jalopnik is an investment expert, so maybe someone smarter was giving better advice we just couldn’t understand. Right out of the gate, it looked like … Read more