Money
Texas police take Tesla to court
Tesla is being sued by police in Texas
A group of law enforcement officials are suing the car company after a Model X on Autopilot crashed into five police officers.
It is the latest legal headache for the automaker as it seeks to roll out its controversial driver assistance software to more customers. And it comes as Tesla is facing renewed scrutiny over several crashes that have taken place involving Autopilot and emergency vehicles.
The crash took place February 27, 2021, in Splendora, a small town in Montgomery County in the eastern part of the state. According to the lawsuit, the Model X SUV crashed into several police officers while they were engaged in a traffic stop on the Eastex Freeway in Texas. “All were badly injured,” the lawsuit says.
Tesla is facing renewed scrutiny over several crashes that have taken place involving Autopilot and emergency vehicles
The police officers claim that “design and manufacturing defects known to Tesla” are responsible for the crash, as well as “Tesla’s unwillingness to admit or correct such defects.”
The plaintiffs argue that Tesla “failed to detect the officers’ cars or to function in any way to avoid or warn of the hazard and subsequent crash.”
The lawsuit cites several tweets by Tesla CEO Elon Musk commenting on crashes involving Autopilot or incidents of Tesla owners misusing the system as evidence that the company is aware of these defects and has failed to recall or correct them.
Money
U.S. jobs report, Fed decisions, and Japan’s economic risks explained
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.
The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.
US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.
Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.
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#USJobsReport #FederalReserve #StockMarket #MacroRisks #JapanEconomy #GlobalMarkets #CurrencyTrading #EconomicUpdate
Money
Alphabet launches $20B bond to fund AI expansion
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet has launched a record $20 billion bond offering to finance its massive AI infrastructure build-out, signalling strong investor confidence in the company’s growth strategy. The oversubscribed sale shows that investors are betting on Alphabet’s AI potential and long-term returns.
By using debt instead of equity, Alphabet can raise funds without diluting shareholders. The money will support AI research, advanced computing, and other strategic projects, cementing the company’s leadership in the sector.
Brad Gastwirth from Circular Technologies explains how corporate debt is reshaping tech financing and how investors perceive AI-linked bonds. This record issuance could set a trend for other tech companies looking to fund innovation.
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Money
AI tax tool sparks market turmoil for financial firms
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Shares of major financial services firms tumbled after the launch of a new AI-powered tax planning tool. LPL Financial dropped nearly 11%, while Charles Schwab and Raymond James Financial fell more than 9%, signalling investor concern over AI disrupting traditional advisory services.
Morgan Stanley also saw a 4% decline as fears grow that AI could replace some of the most profitable offerings of established firms. Earlier this year, the introduction of other AI models already caused turbulence in software stocks, suggesting this could be a broader trend affecting multiple sectors.
The iShares U.S. Broker-Dealers and Securities ETF was down 4% on Tuesday, reflecting the market-wide uncertainty surrounding AI adoption in finance. Investors are closely watching whether AI will complement or cannibalise the industry’s core services.
#AIImpact #WallStreet #FinancialMarkets #InvestingNews #MorganStanley #CharlesSchwab #RaymondJames #FinTech
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