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SpaceX sacked workers for insulting Elon Musk, union claims

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SpaceX has found itself in hot water as allegations of wrongful termination emerge.

The company allegedly fired employees who openly criticized CEO Elon Musk, branding him an ’embarrassment.’ Now, labor authorities are stepping in to investigate this controversial action.

The saga unfolded when a group of SpaceX workers, disheartened by Musk’s public comments and behavior, took to social media to voice their discontent.

They labeled the billionaire entrepreneur an ’embarrassment’ to the company and raised concerns about his leadership. In response, SpaceX reportedly terminated their employment, sparking outrage within the workforce.

Violated labour laws

The National Labor Relations Board (NLRB) has taken an interest in the case, aiming to determine whether SpaceX violated labor laws by punishing employees for expressing their opinions about Musk.

This raises important questions about the boundaries of free speech within corporate environments and the power dynamics between employers and their staff.

Could this incident set a precedent for how companies handle employees’ criticism of their top executives? The NLRB’s investigation will undoubtedly shed light on this matter.

As SpaceX and Elon Musk face scrutiny, the outcome of this case may have far-reaching implications for workplace dynamics and the protection of employees’ right to voice their opinions.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Bitcoin surges to record highs post-election

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Bitcoin soared to nearly $80,000, reaching unprecedented levels following Donald Trump’s decisive presidential victory earlier this week.

This marks a significant 65.4% increase from its January low of $38,505, underscoring the cryptocurrency’s remarkable growth this year.

The surge is largely attributed to President-elect Trump’s commitment to establishing the United States as “the crypto capital of the planet,” signaling a potential shift toward more favorable regulations for digital currencies.

Investors are optimistic that the incoming administration’s pro-crypto stance will further bolster the market, potentially leading to sustained growth in the sector.

Analysts suggest that this momentum could pave the way for Bitcoin to reach even higher valuations in the near future.

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Iron ore and oil prices drop as Beijing holds back

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China’s National People’s Congress announced a $1.3 trillion plan, but it’s focused on debt, not demand.

Mining giants BHP and Rio Tinto saw share prices fall as hopes for a strong stimulus faded.

Analysts say this “recycling debt plan” won’t deliver a boost for Australia’s resource exports.

Iron ore futures dropped 3%, and oil prices fell 2% after China’s announcement.

Some Australian economists see this as a missed opportunity for mining and the broader economy.

Beijing may wait for clarity on Trump’s trade policies before introducing more aggressive stimulus.

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Powell defends the Fed’s independence from Trump

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As Trump’s presidency approaches, Fed Chair Jerome Powell signals he won’t back down on protecting the central bank’s autonomy.

With the election results still rolling in, Federal Reserve Chair Jerome Powell has already made it clear that he intends to uphold the Fed’s independence, even if it means clashing with the new administration.

In a statement on Thursday, Powell declared he would not resign if President-elect Trump asked him to, asserting it would be illegal for any president to fire or demote a sitting Fed governor.

This stance comes amid signals from Trump’s team indicating they may seek influence over the Fed’s monetary policies, including interest rate decisions, challenging the longstanding norms that keep the Fed separate from politics.

Not stepping down

Powell’s terse response to questions on the issue emphasized his commitment: when asked if he would step down at Trump’s request, Powell replied simply, “No.” And when asked if the president could legally demote Fed governors, he affirmed, “not permitted under the law.”

Historically, Trump has shown impatience with Powell’s decisions, especially on interest rates.

If Trump tries to replace Powell or other Fed leaders prematurely, he could face legal challenges and market backlash.

Economists argue that an independent Fed actually benefits Trump’s agenda by stabilising rates.

 

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