Business

Tesla remembers 30,000 Mannequin X automobiles over air bag difficulty

Elon Musk’s Tesla recalled nearly 30,000 Model X cars in the US over an issue that may cause the front passenger air bag to deploy incorrectly, sending its shares down nearly 3% on Friday to their lowest in nearly two years. The air bag could deploy..

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Theranos founder Elizabeth Holmes sentenced to 11 years in jail for fraud

Elizabeth Holmes, the disgraced Theranos founder who was once compared to Steve Jobs before she was convicted of defrauding investors who backed the now-defunct blood-testing company, was sentenced to more than 11 years in prison on Friday. The preg..

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Used automotive costs are falling — however month-to-month funds are spiking as Fed hikes charges

Interest-rate hikes from the Fed are raising average monthly car payments despite falling prices for used cars, according to a study. The average monthly payment for used cars is 47% higher this year, hitting $551 a month, as compared to 2019, accor..

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US house worth plunge is ‘just beginning’ as housing market quickly cools: economist

A substantial plunge in US home prices is likely “just beginning” as decades-high mortgage rates cause a downturn in the housing market, a prominent economist cautioned Friday. The warning from Pantheon Macroeconomics chief economist Ian Shepherdson..

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Pranksters posing as laid-off Twitter workers trick media retailers: ‘Rahul Ligma’

A pair of pranksters posing as laid-off Twitter employees tricked multiple media outlets Friday as the public anxiously awaited news on whether Elon Musk had begun axing staffers. CNBC’s Deirdre Bosa interviewed two people who identified themselves ..

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Confusion reigns over Kanye West’s Twitter suspension after Elon Musk takeover

Confusion reigned Friday over the status of Kanye West’s Twitter account after his friend billionaire Elon Musk completed his takeover of the company. West’s Twitter account was publicly viewable as of Friday, sparking several reports that Musk had ..

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‘Ghost town’: Deutsche Financial institution’s junior bankers avoiding the workplace — even after layoffs

After a surprise round of layoffs at Deutsche Bank on Tuesday, some senior bankers had expected to see surviving employees diligently showing up to the office for the rest of the week — and they were sorely disappointed, insiders told The Post. “Th..

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MSNBC’s Joe Scarborough: Progressives ‘extraordinarily clueless’ on crime

MSNBC personality Joe Scarborough slammed progressives on Friday as being alarmingly out of touch with voters’ concerns about rising crime rates ahead of critical midterm elections next month. The “Morning Joe” co-anchor targeted Democrats after the..

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New Yorkers are ‘stupid’ for transferring to Texas, Florida: Wall Avenue’s ‘Dr. Doom’

The senior economist who earned the nickname “Dr. Doom” after correctly predicting the 2008 financial crisis has ridiculed transplanted New Yorkers for “stupidly” relocating to Sun Belt states during the pandemic. Nouriel Roubini, the New York Unive..

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The darkish aspect of Ty Warner, the reclusive billionaire behind Beanie Infants

The secretive billionaire genius behind Beanie Babies has a business reputation as anything but a teddy bear. People who know Ty Warner, the brand’s founder, said he’s a stubborn eccentric who wants things done his way — or else. Now, he toying with..

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NY Knicks co-owner stands to reap payday from Twitter-Musk deal

Elon Musk’s surprise offer to buy Twitter for his original price of $44 billion followed shrewd maneuvers by a board member who — in addition to a big stake in Twitter — also happens to own a chunk of the New York Knicks and Rangers, sources tell The..

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Chip shares slide as Samsung, AMD count on huge drop in demand

Dire forecasts from Samsung Electronics and Advanced Micro Devices sent chip-related shares lower on Friday, sparking fears that a slump in demand for semiconductors could be much worse than expected. AMD, Nvidia, Intel, Qualcomm and Micron Technolo..

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