Money

Musk details Tesla staff cuts

Published

1 year ago

June 22, 2022

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Elon Musk, CEO of Tesla, said a 10% cut in salaried staff at the electric car maker will happen over three months, as the world’s richest man predicted a U.S. recession was more likely than not

Elon Musk set out on Tuesday (June 21) how the job cuts he proposed at Tesla will happen.

The electric carmaker’s CEO said a 10% cut in salaried staff would happen over three months.

Earlier this month, Reuters reported Tesla needed to cut staff by about that amount, and had frozen hiring worldwide.

Musk said the layoffs would apply only to salaried workers. This means a total headcount would be down 3.5%.

Speaking at the Qatar Economic Forum, he also predicted a U.S. recession could be on its way.

”Well, I think a recession is inevitable at some point. As to whether there is a recession in the near term, I think that is more likely than not. Certainly isn’t a certainty, but it appears more likely than not.”

Earlier this month, Musk wrote that he had a “super bad feeling” about the economy.

His thoughts echo other business leaders including JPMorgan Chase CEO Jamie Dimon.

He said in early June that a ‘hurricane is right out there down the road coming our way’.

A potential U.S. recession has been a growing concern for chief executives, the Federal Reserve, and the Biden administration.

President Joe Biden said Monday (June 20) he felt a U.S. recession was not inevitable.

Although the country is tackling higher gas prices and inflation is at its highest in 40 years.

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Diversifying and enhancing payment methods

Published

12 hours ago

December 8, 2023

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American Express reveals Australian homeowner bill payment insights

In response to the growing trend of card and tap-and-go payments, organisations are adapting their systems to accommodate diverse payment options.

American Express recently conducted research shedding light on homeowner sentiments towards local councils, with a focus on Australian attitudes and behaviours related to bill payments.

Vice President and General Manager of Global merchant services at American Express, Robert Tedesco, provides his insights.

Leaders

Explosive growth and dominance of the audio industry

Published

18 hours ago

December 8, 2023

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Global radio market hits staggering $143 billion valuation, cementing audio industry’s dominance

The audio industry continues to assert itself as a formidable force, with the 2023 global radio market reaching a substantial value of $143 billion.

The podcast market has surged to an impressive worth of $18.52 billion, showcasing a compound annual growth rate of 27.6%.

Tony Simmons, CEO and founder of Sonnant, discusses how the audio industry can be made even better.

Presented by VentureCrowd – To find out more about Conscious Investing, head to www.venturecrowd.com.au

Money

Nick Kyrgios shocks fans with surprise OnlyFans announcement

Published

20 hours ago

December 8, 2023

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Tennis sensation Nick Kyrgios sent shockwaves through the sports and entertainment world today as he revealed a surprising career move.

The Australian athlete, known for his fiery on-court antics and charismatic personality, has announced his entry into the world of OnlyFans, a platform typically associated with adult content creators.

In an unexpected turn of events, Kyrgios took to social media to share the news with his followers. He stated, “I’ve always enjoyed pushing boundaries and breaking the mold. I’m excited to announce that I’ll be joining OnlyFans to share exclusive content and connect with my fans in a new way.”

The announcement has left fans and pundits alike wondering what kind of content Kyrgios will be sharing on the platform.

The decision has sparked a debate about the intersection of sports and social media, as well as the evolving landscape of content creation.

Some fans are eagerly anticipating behind-the-scenes glimpses of Kyrgios’s life, while others are questioning the potential impact on his professional tennis career.