Longtime Starbucks leader Howard Schultz is stepping down from the company’s board of directors

French swimming star Leon Marchand still has room to improve before the world championships in Japan next month despite his two titles at his home nationals, his...

By Gwladys Fouche OSLO (Reuters) -Meta Platforms on Tuesday asked a court in Norway to stop a fine that the

The biggest ever Women’s World Cup kicks off with both co-hosts in action on the opening day, as New Zealand face Norway in Auckland and Australia meet the Republic of Ireland in Sydney. The kick-off comes just hours after a mass shooting in Auckland that killed two people and wounded six. A gunman was found dead after killing two people and injuring multiple others in the city this morning. The shooting took place at a building site in Auckland city centre. The World Cup will “proceed as planned” and New Zealand prime minister Chris Hipkins said there was no risk to national security New Zealand attempting to claim a historic win at the tournament - the Football Ferns have failed to win a match at the World Cup finals in 15 previous attempts but will be roared on by the home crowd at Eden Park as they face star-studded Norway. Australia will then hope to get their campaign off to the perfect start as the Matildas take on Ireland in front of what is expected to be a record-breaking crowd at Sydney’s Olympic Stadium. Australia have emerged as one of the tournament favourites, with star Sam Kerr leading the line, and a winning start is vital with Canada and Nigeria making up the ‘group of death’. Follow the latest World Cup scores, updates and news in today’s live blog Read More Why this Women’s World Cup will be unlike anything we’ve seen before Women’s World Cup to ‘proceed as planned’ after shooting in Auckland Women’s World Cup 2023: Group guides and players to watch for every team How to watch every Women’s World Cup match on TV

Electric car maker Tesla’s profits took a dive in the third quarter, according to an earnings call on Wednesday in which the company’s chief Elon Musk blamed staff working from home for being “detached from reality”. Tesla’s profits in Q3 of 2023 have plunged by over 40 per cent compared to the gains it made in the same period last year after the company slashed its car prices by around 25 per cent in an attempt to compete with other EV makers. The EV manufacturer reported a net profit of about $1.9bn for the time between July through September, which is a 44 percent drop from the $3.3bn it made in the same three-month period last year. While the company has seen a small increase in overall revenue of about $23bn from the $21bn the same time last year, the figures are still lower than Wall Street expectations. Mr Musk also dampened hopes of the company’s anticipated Cybertruck reviving profits in the near future, announcing that it would take at least 18 months for the truck to become profitable as it could go on sale only by the end of November. “There will be enormous challenges in reaching volume production with Cybertruck and making the Cybertruck cash flow positive,” the Tesla titan told investors and analysts in the earnings call. “The blood, sweat and tears that will be required to achieve that is just staggering,” he added. Over the last year, Tesla has slashed the prices of its cars by quarter to boost sales. Growing competition with the introduction of EVs by other car makers in the US, including BMW, Toyota, Mercedes, GM and Hyundai, has also coincided with Tesla’s share of vehicles in the EV market reducing in the last quarter. In the earnings call, Mr Musk also said staff working from home are taking advantage of those who cannot work from home. “Like... what about all the people that have to come to the factory and build the cars?” he asked. “Why did I sleep in the factory so many times? Because it mattered,” the Tesla chief said. Mr Musk echoed the statements he made in an interview with CNN earlier this year in which he called remote work “morally wrong”, arguing that it is unfair to those who cannot have the option. “Get off the goddamn moral high horse with the work-from-home bullshit,” he said. Tesla also pointed fingers at its reduction in production while it upgraded its factories as one of the factors behind the profit slump. It said it has also been making big investments in AI and “commissioned one of the world’s largest supercomputers.” “We have more than doubled the size of our AI training compute, accommodating for both our growing data set & Optimus, which is currently being trained for simple tasks through AI rather than hardcoded software, while its hardware continues to improve,” Tesla said. But all is not gloomy as the company says the first deliveries of its Cybertruck are scheduled for 30 November and Tesla’s Model Y remains the “best-selling vehicle of any kind” in Europe. Read More X begins charging new users to post as part of trial EU asks Elon Musk to ‘walk the talk’ on X/Twitter disinformation over Hamas attack AOC wants to ‘trade in’ her Tesla for union-made electric vehicle amid historic auto workers strike Amazon to start dropping packages into people’s gardens using drones in the UK Facebook has stopped working Facial recognition firm Clearview AI overturns UK data privacy fine

SINGAPORE--(BUSINESS WIRE)--Oct 15, 2023--

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