Chris Isidore, CNN Business, Author at newswatchplus.ph

Kanye West no longer a billionaire, says Forbes

Chris Isidore, CNN Business — Thu, 27 Oct 2022 06:29:28 +0000

(CNN) — Rapper Ye’s falling out with corporate partners has cost him his status as a billionaire, according to Forbes. In the last few weeks, Ye — also known as Kanye West — has seen luxury fashion house Balenciaga, Gap and most recently Adidas end business relationship with him for antisemitic comments and wearing a

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Elon Musk sells nearly 8 million Tesla shares

Chris Isidore, CNN Business — Wed, 10 Aug 2022 18:01:51 +0000

(CNN) — Tesla CEO Elon Musk sold 7.9 million shares of Tesla in recent days, raising $6.9 billion with the sales. The sales from Friday through Tuesday were disclosed in a series of filings with the Securities and Exchange Commission late Tuesday night. They mark the first sale of Tesla shares by Musk since April, when

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Tesla earnings fall on hit from China COVID surge

Chris Isidore, CNN Business — Thu, 21 Jul 2022 17:45:36 +0000

(CNN) — Lockdowns caused by the Covid surge in China caused sales and profits to fall at Tesla compared to the first three months of the year, the first time since the pandemic surfaced in early 2020 that the company did not report a record profit. Tesla reported adjusted income of $2.6 billion in the

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Tesla posts rare drop in sales in second quarter

Chris Isidore, CNN Business — Sun, 03 Jul 2022 10:19:56 +0000

(CNN) — Covid lockdowns in China resulted in a rare drop in production and sales for Tesla in the second quarter. The electric automaker reported that completed sales dropped nearly 18%, to about 255,000 vehicles in the second quarter compared to the first three months of the year. Production fell 15% to 259,000. The company’s

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Elon Musk tells Tesla employees: Return to the office, or else

Chris Isidore, CNN Business — Thu, 02 Jun 2022 07:21:47 +0000

New York (CNN Business) — Elon Musk is demanding that Tesla office workers return to in-person work or leave the company. The policy, disclosed in leaked emails Musk sent to Tesla’s executive staff Tuesday, was first reported by electric vehicle news site Electrek. “Anyone who wishes to do remote work must be in the office

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Why you’re going to hate traveling this summer

Chris Isidore, CNN Business — Thu, 02 Jun 2022 07:19:17 +0000

New York (CNN Business) — Canceled flights, surging airfares, a rental car shortage, record gas prices and rising hotel prices. Welcome to the summer of travel hell. Airlines had said they were prepared to avoid the service problems that plagued much of the industry last year. But between Friday and Monday, US airlines canceled 2,653

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Elon Musk’s next massive payday looms

Chris Isidore, CNN Business — Sun, 24 Apr 2022 18:52:24 +0000

(CNN) — Does the richest person on the planet need another massive pay package? That’s the decision facing the Tesla board of directors. CEO Elon Musk doesn’t receive any cash salary or bonus. He’s paid only with stock options. But he has just about exhausted the options available from the compensation package he got from

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Elon Musk buys 9.2% stake in Twitter, making him the largest shareholder

Chris Isidore, CNN Business — Tue, 05 Apr 2022 12:24:14 +0000

(CNN) — Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company. News of the purchase sent shares of Twitter soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the

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Tesla bucks trend again to report increased car sales

Chris Isidore, CNN Business — Sun, 03 Apr 2022 10:43:24 +0000

(CNN) — Tesla once again bucked auto industry trend and reported an increase in car sales, despite the shortages of computer chips and other logistical woes that have forced other carmakers to significantly scale back production. The company said it sold 310,000 cars in the first quarter, up only slightly from the 309,000 it sold

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Flying on Russian planes is about to get much more dangerous

Chris Isidore, CNN Business — Sat, 12 Mar 2022 16:33:29 +0000

(CNN) — As Russia’s economy gets pummeled by increasingly severe western sanctions for its invasion of Ukraine, the country’s crucial airline industry could soon find itself on life support. Russian airlines have been essentially cut off from much of the world. But that is the least of the industry’s problems. Russia’s domestic airline industry could

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