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Tesla reveals new data storage site in China despite privacy worries

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Tesla data will be stored in China

Tesla says its new facility will be to store car data locally in China

Elon Musk’s Tesla has revealed a new facility in China that will locally store data from Tesla vehicles. The company says that data generated by all cars it sells in the country would be stored locally.

The company led by billionaire Elon Musk is manufacturing Model 3 sedans and Model Y sport-utility vehicles in China.

Tesla added it would expand its data centre network in China. The company’s shares were last down 0.7%.

Growing scrutiny over how China handles information collected by vehicle cameras and sensors

China is the world’s biggest car market, and Tesla’s second-biggest customer.

The country says it’s in the process of drafting rules to safeguard the security of data generated by connected vehicles.

According to Reuters, Chinese government officials told some employees to not park their Teslas inside government compounds due to security concerns.

Tesla crash injures Chinese police officers

This comes after a collision involving a Tesla injured two police officers in China.

The EV company pledged to work with authorities to investigate the matter.

The California-based company also says it made a report to a government agency about the accident, which occurred in the eastern city of TIE-JOO.

Local authorities say the driver was detained for questioning.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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