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TESLA

Agency finds that Elon Musk tweet violated federal labor law

Musk has tweeted his way into trouble with another federal agency, this time the National Labor Relations Board. Board members ordered Tesla to make Musk delete the tweet and stop threatening employees with loss of benefits for supporting a labor organization. (AP Photo/Susan Walsh, File)DETROIT – Tesla CEO Elon Musk has tweeted his way into trouble with another federal agency, this time the National Labor Relations Board. Board members ordered Tesla to make Musk delete the tweet and stop threatening employees with loss of benefits for supporting a labor organization. Other than the back pay, Tesla faces no financial penalties, the UAW said.

Fed's Powell: Public should understand risks of Bitcoin

Powell said Monday, March 22, 2021, that the U.S. public needs to understand the risks behind Bitcoin and other crypto currencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. (AP Photo/Susan Walsh, Pool, File)WASHINGTON – Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. “They’re highly volatile, see Bitcoin, and therefore not really useful as a store of value,” Powell said in remarks to a virtual summit hosted by the Bank for International Settlements. There is also the risk that a digital currency could be held by individuals electronically and could therefore bypass banks. “Private stable coins are not going to be an appropriate substitute for a sound monetary system based in central bank money.”

Russian man pleads guilty in Nevada to plot to extort Tesla

In a case that cybersecurity experts called exceptional for the risks he took, Egor Igorevich Kriuchkov pleaded guilty Thursday in U.S. District Court in Reno. Typically, ransomware gangs operating from safe havens hack into victim networks over the internet and download data before activating the ransomware. The FBI said the unnamed prospective recruit informed Tesla and cooperated with the FBI, and the plot was stopped before any damage happened. Kriuchkov, 27, told a judge in September that he knew the Russian government was aware of his case. Tesla has a massive factory near Reno that makes batteries for electric vehicles and energy storage units.

Volkswagen plans six battery factories to ramp up electrics

Volkswagen plans six large battery factories in Europe by 2030 so it sell more electric cars while driving down battery prices and making electric mobility more affordable, an effort that would reduce dependence on Asian suppliers and help the company compete with newcomer Tesla. (AP Photo/Jens Meyer, file)FRANKFURT – Volkswagen plans six large battery factories in Europe by 2030 to power sales of more electric cars while driving down battery prices and making electric vehicles more affordable for entry-level buyers. Having more places to charge on longer trips is seen as another way to get more people to buy electric cars. Europe's accelerating rollout of electric cars has been supported by expensive government and carmaker subsidies to bring the price down for consumers. Tesla is building a large battery factory near Berlin.

AP Interview: DOE reviving loan program, Granholm says

AdRepublicans and other critics cite Solyndra as an example of wasteful spending under President Barack Obama's stimulus program, and the loan guarantees have largely dried up in recent years. AdThe program will be overseen by Jigar Shah, a longtime clean-energy entrepreneur who helped pioneer solar power in the U.S. While Republicans are likely to focus on avoiding a repeat of Solyndra, Granholm, a former Michigan governor, said Tesla is a better example. Still, the loan program overall has returned more than $500 million to taxpayers, “people paying back their loans with interest,'' Granholm said. “I’m very excited about his leadership and about actually using the DOE loan program again,'' she said.

US traffic deaths spike even as pandemic cuts miles traveled

“The pandemic appears to be taking our eyes off the ball when it comes to traffic safety," Kolosh said. Of the reckless behaviors, early data from the National Highway Traffic Safety Administration show speed to be the top factor, Kolosh said. Also, tests of trauma center patients involved in traffic crashes show increased use of alcohol, marijuana and opiods, he said. Hanson said state officials expected a corresponding drop in crashes and deaths, but while crashes declined, deaths increased. Last year, Minnesota recorded 395 traffic deaths, up nearly 9% from 364 in 2019.

Thinking of getting a new car? Check out these Consumer Reports top picks

SAN ANTONIO – If you’ve got the itch for a new car, truck or SUV, Consumer Reports’ annual list of its top picks may help steer you. Consumer Reports is out with its recommendations on new models based on more than 50 track tests as data on predicted reliability, owner satisfaction and safety equipment. “We put thousands of miles on each test car and actually evaluate them for how people actually use them in their day-to-day lives,” said Mike Quincy, auto editor. “To make CR’s list, the vehicle must come standard with forward collision warning and automatic emergency braking with pedestrian detection.”Toyota made a strong showing with three on the list. Here is their list of top picks in various categories:

Volkswagen weathers pandemic with $10.7 billion profit

(AP Photo/Jens Meyer, file)FRANKFURT – Volkswagen said Friday it made better than expected profit of 8.8 billion euros ($10.7 billion) after tax in 2020 despite the pandemic. 2 automaker said the rapid recovery of China, its largest single market, and resilient sales of luxury vehicles helped the bottom line. Manufacturing companies like Germany's three big carmakers — Volkswagen, BMW and Daimler — have seen their sales and earnings hold up better than those for services, tourism and air travel companies. It tripled its sales of electric vehicles to 422,000 ahead of stricter European Union limits on emissions of carbon dioxide, the primary greenhouse gas blamed for global warming. The company's brands include luxury carmakers Audi and Porsche, where profits per vehicle are higher than for more basic transportation.

Digital exchange Coinbase takes a step toward going public

Digital currency exchange Coinbase is looking to become a publicly traded company, a move being hailed by some as a start to helping cryptocurrency gain more mainstream acceptance. (AP Photo/Kin Cheung, File)Coinbase has filed papers with U.S. regulators to become a publicly traded company as digital currencies continue to march toward mainstream acceptance. The digital currency exchange is seeking a direct listing, which would allow company insiders and early investors to convert their stakes in Coinbase into publicly traded stock. In a Thursday filing with the Securities and Exchange Commission, Coinbase also revealed how interest in digital currency is gaining steam on the exchange. But volatility currently makes the use of digital currency for the exchange for goods and services untenable.

Asian shares slip on jitters over inflation, interest rates

Shares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. (AP Photo/Eugene Hoshiko)TOKYO – Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. However, “Despite reassuring comments on lower rates from the U.S. Federal Reserve chair Jerome Powell, Asia markets continued to look to concerns with regards to the rising bond yields," Pan said. The bet mostly paid off, as big tech companies reported big profits last year.