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‘Major brand worries’: Just how toxic is Elon Musk for Tesla?
Globally renowned brands would not, ordinarily, want to be associated with Germany’s far-right opposition. But Tesla, one of the world’s biggest corporate names, does not have a conventional chief executive.After Elon Musk backed Alternative für Deutschland (AfD) – calling the party Germany’s “only hope” – voters are considering an alternative to Tesla. Data released on Thursday showed that registrations of the company’s electric cars in Germany fell 76% to 1,429 last month. Overall, electric vehicle registrations rose by 31%
Crypto giant Tether CEO on cooperating with Trump administration: ‘We’ve never been shady’
Paolo Ardoino – head of the world’s most traded cryptocurrency, which is backed by Trump aide Howard Lutnick – claims Tether is benefiting the USPaolo Ardoino, CEO of the cryptocurrency company Tether, was flying over Switzerland last week as he contemplated the changing regulatory landscape.Tether used to be at war with the establishment. Now it is the establishment.The crypto giant – tether is the most traded cryptocurrency in the world – has had a strange trip. Four years ago, banks were dropping Tether as a client, and regulators in New York had the company against the wall over questions about commingled client and corporate funds
Australian Tesla sales plummet as owners rush to distance themselves from Elon Musk
Australian Tesla owners troubled by the increasingly extreme rightwing politics of the company’s co-founder, Elon Musk, are offloading their electric vehicles or using bumper stickers to distance themselves from the Trump-aligned billionaire.Fresh vehicle sales data for February – which covered the weeks after Musk’s apparent fascist salute at a Trump inauguration rally – showed a steep decline in Tesla purchases. Sales were down about 72% compared to the same month in 2024.Sales of Tesla’s Model 3 – the company’s entry-level model which had been the second-best selling EV in Australia in 2024 – were down 81%.Tesla’s sliding popularity in Australia comes amid several other trends in the market such as the move away from pure battery electric cars in favour of hybrid vehicles; the increasing availability of cheaper Chinese rivals; and the broader waning appetite for cars that saw Australians buy 10,000 fewer vehicles in February than the same month in 2024
‘Trump Gaza’ AI video intended as political satire, says creator
The creator of the viral “Trump Gaza” AI-generated video depicting the Gaza Strip as a Dubai-style paradise has said it was intended as a political satire of Trump’s “megalomaniac idea”.The video – posted by Trump on his Truth Social account last week – depicts a family emerging from the wreckage of war-torn Gaza into a beachside resort town lined with skyscrapers. Trump is seen sipping cocktails with a topless Benjamin Netanyahu on sun loungers, while Elon Musk tears flatbread into dips.The video first emerged in February, shortly after Trump unveiled his property development plan for Gaza, under which he said he wants to “clean out” the population of about 2 million people to create the “Riviera of the Middle East”.Trump then posted the clip without any explanation on his Truth Social platform on 26 February
UK watchdog drops competition review of Microsoft’s OpenAI partnership
The UK’s competition watchdog will not hold a formal investigation into Microsoft’s partnership with the startup behind the artificial intelligence chatbot ChatGPT, stating that while the $2.9tn (£2.3tn) tech company has “material influence” over OpenAI it does not control it.The Competition and Markets Authority (CMA) said Microsoft, OpenAI’s biggest financial backer with a $13bn investment, acquired material influence over the San Francisco-based business in 2019 but did not exercise de facto control over it – and therefore did not meet the threshold for an official inquiry.The decision follows expressions of disquiet over the appointment of the former boss of Amazon UK, Doug Gurr, as the CMA’s interim chair
Google, Microsoft, Meta and Amazon among tech companies making $27bn from Australians
The top 16 tech companies are collectively making $26.7bn in revenue each year from Australians, a Parliamentary Budget Office analysis has found, as the Greens call for a 3% tax on the biggest players that would bring in more than $11bn.The analysis, conducted on behalf of the Greens, found in 2022-23 Google made $8.7bn across advertising and cloud services, Microsoft made $2.9bn, Meta made $1
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