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Elon Musk wants $100m from government for secret plan

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Elon Musk is seeking a hefty $100 million from the U.S. government to support a bold new initiative.

Tesla, the pioneering electric vehicle manufacturer, is pursuing funding to establish a network of cutting-edge Megacharging stations along the route between California and Texas, dedicated to powering its revolutionary all-electric semi-truck, aptly named the Semi.

Reports from CleanTechnica and Bloomberg reveal that Tesla’s proposal outlines the construction of nine strategically located charging stations spanning the stretch between Northern California and the southern Texas border. Each of these stations is set to feature an impressive array of eight individual 750-kilowatt chargers, enabling up to eight Semis to charge simultaneously at each of these facilities.

Official requests

Tesla is also rallying Texas state officials to advocate for their cause by sending official requests to the federal government to secure the necessary funding. This initiative comes in the wake of the Semi’s debut in 2022, following its 2017 prototype unveiling, with PepsiCo being among the early adopters, receiving 15 of these groundbreaking vehicles.

The significance of the Semi lies in its distinction as the first all-electric sixteen-wheeler to enter the market. This development aligns with the global imperative to combat climate change by adopting cleaner energy solutions for industrial shipping. Trucks, as highlighted by the Environmental Protection Agency, have become the fastest-growing source of hazardous air pollution in the United States, necessitating a transition to cleaner alternatives.

With millions of tons of goods transported daily, largely reliant on fossil fuels, the Tesla Semi represents a transformative step towards reducing pollution and mitigating the impacts of climate change.

While the approval of Tesla’s funding request is anticipated later this year, the company’s commitment to this eco-friendly endeavor remains resolute, even if the government’s support is not secured.

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Bitcoin declines to $104,782 amid trade tensions

Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

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Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

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In Short:
– Bitcoin dropped to $104,782 due to heightened US-China trade tensions.
– The S&P 500 Index fell over 2% amid escalating market uncertainty.
Bitcoin fell to $104,782 amid escalating US-China trade tensions.On October 10, U.S. President Donald Trump announced a significant increase in tariffs on Chinese goods, raising them to 100%.

The decision follows China’s recent restrictions on rare earth mineral exports, which are crucial for various technologies and manufacturing sectors.

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The trade dispute affected global markets, resulting in a more than 2% decline in the benchmark S&P 500 Index.

Bitcoin experienced an 8.4% drop at $104,782 by 17:20 ET, while Ethereum, the second-largest cryptocurrency, fell by 5.8% to $3,637 at 17:21 ET.


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Gold plunges as investors react to Middle East ceasefire

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

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Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.


Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.

The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.

Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.

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Gold and silver prices drop after Gaza ceasefire

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

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Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

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In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.
Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.

Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.

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Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.

An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.

Market Overview

Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.

Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.

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