BUSINESS

Photo Credit: Getty Images

Tesla shares took a sharp dive Monday, closing down 7.29% at $292.38, as investors reacted to CEO Elon Musk's weekend announcement of a new political party. The decline marks Tesla's worst single-day performance since early June, reigniting long-standing concerns about Musk's distractions from the core business.

Photo Credit: Getty Images

Apple is appealing a $586 million fine imposed by EU regulators for alleged anti-competitive practices on its App Store. The European Commission ruled in April that Apple violated its laws by limiting app developers' ability to inform users about alternative offers and marketplaces outside of Apple's own ecosystem.

Photo Credit: Getty Images

While much of the auto industry has pivoted hard toward electrification—often with unrealistic timelines and walk-backs—BMW has taken a different road. It never pledged to end combustion engine production and continues to view the internal combustion engine (ICE) as essential to its business. In a recent interview with Automobilwoche, Klaus von Moltke, head of BMW’s Steyr engine plant in Austria, summed it up clearly: “The combustion engine is our foundation and will also finance our future business.”

Photo Credit: Getty Images

Elon Musk's venture into artificial intelligence has reached a new pinnacle, with xAI securing a monumental $10 billion in combined debt and equity funding. This strategic move, led by Morgan Stanley, positions xAI at the forefront of the AI race, intensifying competition against rivals like OpenAI and Anthropic.

Photo Credit: Getty Images

Tesla's sales in Europe continued to decline last month, falling by 40.2% in May, even as the overall electric vehicle market in the region expanded. Industry figures released Wednesday indicated that growing competition and concerns over Elon Musk's political affiliations contributed to the drop, despite a 25% increase in battery-electric vehicle sales across Europe, according to ACEA, the European car manufacturers' trade association.

Photo Credit: Getty Images

In a significant development in the tech industry, the U.S. Department of Justice (DOJ), a committee has reached a settlement regarding Hewlett Packard Enterprise's (HPE) acquisition of Juniper Networks, which has been set for a staggering $14 billion. This settlement, disclosed in recent court filings, mandates key concessions from the merging companies to address antitrust concerns.

Photo Credit: Getty Images

Nissan has fired a direct shot at Toyota’s LandCruiser GR Sport with the reveal of its all-new 2026 Y63 Patrol Nismo – a road-focused performance SUV that brings power, presence, and precision to the full-size segment.