Latest news with #US37
The Age
a day ago
- Automotive
- The Age
Elon Musk looks to raid his empire for billions
What does an entrepreneur do when he has one company that is bleeding cash and another sitting on a pile of it? He, of course, shifts cash from one to the other. It gets more complicated when the company that has the cash is listed and the one that needs it isn't, which is why Elon Musk says that he will seek shareholder approval for his privately-owned artificial intelligence business, xAI, to access to $US37 billion ($56 billion) of cash and near-cash sitting within his listed electric vehicle and humanoid robot entity, Tesla. How much of that cash does he have his eye one? Last year Musk asked the users on his social media platform, X (which merged with xAI earlier this year), whether Tesla should invest $US5 billion in xAI. About two-thirds of the respondents were in favour of investing. Whether Tesla's investors would share that view is another question. Their company has its own issues, notably plunging sales due partly to Musk's politicisation of the Tesla brand after his stint heading the controversial Department of Government Efficiency in the Trump administration and his subsequent falling out with Donald Trump, but also because Tesla's vehicles are being challenged by cheaper and more sophisticated EVs from China and Europe and even other US manufacturers. Tesla's sales in the June quarter slumped 13 per cent – it produced about 60,000 fewer vehicles in the quarter than for the same period last year. Loading The company is also facing the withdrawal by the Trump administration of tax credits for EVs, worth up to $US75000 per vehicle, that have helped support Tesla's sales in US, while also withdrawing carbon credits whose sale to other companies to help them meet emissions requirements has been a very significant source of revenue for Tesla. Musk seems unconcerned about the downturn in sales, although he's more than antsy about the withdrawals of tax incentives. He's adamant that the future of Tesla is in robotaxis and robots, although Tesla has only recently started on-road, heavily controlled, trials of its robotaxis.
Sydney Morning Herald
a day ago
- Automotive
- Sydney Morning Herald
Elon Musk looks to raid his empire for billions
What does an entrepreneur do when he has one company that is bleeding cash and another sitting on a pile of it? He, of course, shifts cash from one to the other. It gets more complicated when the company that has the cash is listed and the one that needs it isn't, which is why Elon Musk says that he will seek shareholder approval for his privately-owned artificial intelligence business, xAI, to access to $US37 billion ($56 billion) of cash and near-cash sitting within his listed electric vehicle and humanoid robot entity, Tesla. How much of that cash does he have his eye one? Last year Musk asked the users on his social media platform, X (which merged with xAI earlier this year), whether Tesla should invest $US5 billion in xAI. About two-thirds of the respondents were in favour of investing. Whether Tesla's investors would share that view is another question. Their company has its own issues, notably plunging sales due partly to Musk's politicisation of the Tesla brand after his stint heading the controversial Department of Government Efficiency in the Trump administration and his subsequent falling out with Donald Trump, but also because Tesla's vehicles are being challenged by cheaper and more sophisticated EVs from China and Europe and even other US manufacturers. Tesla's sales in the June quarter slumped 13 per cent – it produced about 60,000 fewer vehicles in the quarter than for the same period last year. Loading The company is also facing the withdrawal by the Trump administration of tax credits for EVs, worth up to $US75000 per vehicle, that have helped support Tesla's sales in US, while also withdrawing carbon credits whose sale to other companies to help them meet emissions requirements has been a very significant source of revenue for Tesla. Musk seems unconcerned about the downturn in sales, although he's more than antsy about the withdrawals of tax incentives. He's adamant that the future of Tesla is in robotaxis and robots, although Tesla has only recently started on-road, heavily controlled, trials of its robotaxis.
AU Financial Review
23-06-2025
- Lifestyle
- AU Financial Review
The designer who made the leggings you're probably wearing right now
Antonia Iamartino didn't invent leggings, but she did revolutionise the category, which is a challenging thing to do when you're talking about a few panels of fabric, some stitching and, well, not much else. Iamartino, who has worked at Lululemon since 2005, created the Align leggings, which debuted 10 years ago and have become synonymous not only with yoga, for which they were created, but also with a certain type of Millennial and Gen Z consumer. The one who wears athleisure 24/7, has a favourite smoothie combination, and has as many steps in their skincare routine as an alcoholic has in their recovery. Align leggings are also a bestseller: a pair sells approximately once every 2.5 seconds (according to the company) and while Lululemon doesn't divulge sales information by product, it's a sure bet that they have helped nudge the Canadian athleisure behemoth to its current market cap of $US37 billion ($57 billion).
Sydney Morning Herald
20-05-2025
- Business
- Sydney Morning Herald
The Reserve Bank has a special term for Donald Trump
Before rejoicing with some extra money in your wallet after the Reserve Bank's latest cut in official interest rates, grab the paper (or check out your digital version) and read the world pages. There, you'll see another photograph of Donald Trump and another story about something he's done. It might be his questionable decision to accept a $US400 million plane from Qatar, cutting essential services or blowing out the size of the budget deficit (now on track to surpass $US37 trillion within weeks). It's news, but the Reserve Bank has another word for it - 'uncertainty drag'. And that drag now has a number. While the focus for most of us is on the official cash rate and what that means for our mortgage repayments, the RBA is trying to set policy as the big orange man rampages through economic orthodoxy. Loading As best as it can determine, Trump and tariffs means a little slower growth here, a small bump in unemployment and inflation edging down to the middle of the bank's 2-3 per cent target band. But that's just on what he's announced (for now). Knowing that Trump could change policy direction if his Big Mac is not cooked properly, the RBA has looked at the best and worst-case scenarios. In the best-case scenario (or wishful thinking), Trump sees the error of his ways and brings tariffs back to where they were last year.
The Age
20-05-2025
- Business
- The Age
The Reserve Bank has a special term for Donald Trump
Before rejoicing with some extra money in your wallet after the Reserve Bank's latest cut in official interest rates, grab the paper (or check out your digital version) and read the world pages. There, you'll see another photograph of Donald Trump and another story about something he's done. It might be his questionable decision to accept a $US400 million plane from Qatar, cutting essential services or blowing out the size of the budget deficit (now on track to surpass $US37 trillion within weeks). It's news, but the Reserve Bank has another word for it - 'uncertainty drag'. And that drag now has a number. While the focus for most of us is on the official cash rate and what that means for our mortgage repayments, the RBA is trying to set policy as the big orange man rampages through economic orthodoxy. Loading As best as it can determine, Trump and tariffs means a little slower growth here, a small bump in unemployment and inflation edging down to the middle of the bank's 2-3 per cent target band. But that's just on what he's announced (for now). Knowing that Trump could change policy direction if his Big Mac is not cooked properly, the RBA has looked at the best and worst-case scenarios. In the best-case scenario (or wishful thinking), Trump sees the error of his ways and brings tariffs back to where they were last year.
