Tesla lays off more than 10% of its workforce
In a memo, first reported by news website Electrek, billionaire owner Elon Musk told staff there was nothing he hated more, "but it must be done".
The world's largest auto maker by market value had 140,473 employees globally as of December, according to its latest annual report.
Tesla has not responded to the BBC's request for comment.
"We have done a thorough review of the organization and made the difficult decision to reduce our headcount by more than 10% globally," said the email from Mr Musk.
"There is nothing I hate more, but it must be done. This will enable us to be lean, innovative and hungry for the next growth phase cycle."
A Tesla employee who had been told he was being let go told the BBC he had subsequently been locked out of his emails, as had all other staff being laid off.
One of the executive team, Andrew "Drew" Baglino, said in a post on X (formerly Twitter) on Monday he had made the "difficult decision" to leave the firm after 18 years.
Mr Baglino has served as senior vice president of Tesla's powertrain and energy engineering team since 2019, according to Tesla's website.
Another executive heading up public policy and business development, Rohan Patel, is set to leave too.
He thanked Mr Musk for giving him the chance and "empowering" him to lead big initiatives at the firm.
He also said that the "never-say-die attitude and scrappiness" of the wider Tesla team is what he thought made it a special place to work.
Their departures "signal that Tesla's major growth phase is meeting serious headwinds," said Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, deeming it "the larger negative signal today" than the announcement of job cuts.
The company is set to report its quarterly earnings later this month but has already reported a decline in vehicle deliveries in the first quarter, its first in nearly four years and also below market expectations. Some analysts described the results as "tumultuous."
Last month, Tesla reduced production at the Gigafactory in Shanghai and last week Tesla told employees who work on the Cybertruck that shifts will be shorter on the production line at the Austin.
Tesla has begun to feel the impact of slowing demand for electric vehicles (EVs).
Elon Musk has recently denied reports that the company has scrapped plans to produce an inexpensive car, which has been one of his longstanding goals to make affordable EVs for the masses.
Tesla shares were down 0.8% in premarket trading on Monday.
The EV maker has been slow to refresh its aging models as high-interest rates have sapped consumer appetite for big-ticket items.
There is also ongoing pressure from China as the rise of their inexpensive EVs has begun to flood the market with affordable models.
Source-BBC
Grenada to host Caribbean Investment Summit
Grenada will host the Caribbean Investment Summit in May that will allow delegates to discuss and explore the latest trends, share insights and forge strategic partnership within the Citizenship by Investment Programme (CBI) sector.
“This year we are not just hosting a summit, we are creating a timely platform for dialogue, innovation and regional collaboration in the investment migration industry,” Prime Minister Dickon Mitchell said in a video message posted on the summit’s website.
Under the CBI programme, countries like Grenada, provide citizenship to foreign investors in return for making a significant contribution to the socio-economic development of these islands.
The chief executive officer of the Investment Migration Agency (IMA), formerly called the Citizenship by Investment Unit (CIU), Thomas Anthony, said that the May 22-25 summit will offer those in the industry a place to come together to respond to market shifts, adopt an innovative approach and navigate the challenges of the investment migration space.
“We are working towards making the citizenship by investment programme more adaptable and sustainable despite the changes in the global market and increasing oversight from the EU, UK and the USA,” he said.
“Participants will gain unparalleled access to actionable intelligence, strategic partnerships and the latest innovations, setting in a new benchmark for excellence and collaboration in the CBI landscape,” the organisers said.
The four-day summit is being organised by the US-based THr5 XP LLC, and OPEN Interactive Inc, an events organiser based in St Kitts and Nevis.
Source-CMC
PPL,WPL,NBA, MLB & other Weekend Scores
TCI Provo Premier League
SWA Sharks FC 7, Teachers FC 0
TCI Women Premier League
SWA Sharks w-FC 2, Academy Eagles w-FC 0
Cheshire Hall w-FC 1, Teachers w- FC 0
MAJOR LEAGUE BASEBALL
INTERLEAGUE
Tampa Bay 9, San Francisco 4
NY Mets 2, Kansas City 1
Toronto 5, Colorado 0
Baltimore 6, Milwaukee 4
Cincinnati 11, Chi White Sox 4
Chi Cubs 3, Seattle 2
Oakland 7, Washington 6
AMERICAN LEAGUE
Detroit 4, Minnesota 3
Boston 5, LA Angels 4
Houston 8, Texas 5
Cleveland 8, NY Yankees 7
NATIONAL LEAGUE
Pittsburgh 9, Philadelphia 2
Atlanta 9, Miami 7
Arizona 5, St. Louis 0
San Diego 6, LA Dodgers 3
NATIONAL BASKETBALL ASSOCIATION
Charlotte 120, Cleveland 110
Boston 132, Washington 122
Philadelphia 107, Brooklyn 86
Indiana 157, Atlanta 115
Miami 118, Toronto 103
Orlando 113, Milwaukee 88
New York 120, Chicago 119 (OT)
San Antonio 123, Detroit 95
Houston 116, LA Clippers 105
Oklahoma City 135, Dallas 86
Golden State 123, Utah 116
Sacramento 121, Portland 82
Denver 126, Memphis 111
Phoenix 125, Minnesota 106
LA Lakers 124, New Orleans 108
NATIONAL HOCKEY LEAGUE
St. Louis 4 Seattle 1
Vegas 4, Colorado 3 (OT)
Carolina 4, Chicago 2
Calgary 6, Arizona 5
MAJOR LEAGUE SOCCER
Philadelphia 2, Atlanta 2 (Tie)
St Louis City 1, Austin FC 0
US forces destroy 80 drones, at least six ballistic missiles
U.S. military forces destroyed 80 drones and at least six ballistic missiles out of the more than 300 launched from Iran, according to CENTCOM Sunday.
The drone number is an update from Saturday evening, when the U.S. said it had intercepted 70 drones. CENTCOM said the total included a ballistic missile that was on its launcher vehicle and seven drones before they left the ground.
At least nine Iranian missiles that breached Israel's air defenses struck two of Israel's air bases, but no significant damage was reported, a senior U.S. official told ABC News. Five ballistic missiles hit the Nevatim Air Base, damaging a C-130 transport aircraft, an unused runway and empty storage facilities, the official said. Four additional ballistic missiles hit the Negev Air Base, but there were no reports of significant damage, the official said.
While the Biden administration remains committed to defending Israel, top administration defense and security officials made it clear Sunday the U.S. would not be a part of any Israeli response.
Defense Secretary Lloyd Austin spoke with Israeli Defense Minister Yoav Gallant Sunday afternoon, according to a U.S. official who described the exchange as “direct.” The official said Austin told Gallant that while the U.S. will continue to defend Israel, it does not envision being part of offensive operations against Iran.
Source-ABC
Aggravated Robbery in Grand Turk
The recent aggravated robbery targeting a five-member household is undoubtedly distressing for both the victims and the community at large.
Superintendent (Division A) Willet Harvey said, “Around 11:21 pm yesterday (April 14th) evening, the Police Control Room received a report that four masked males, three of whom were armed, entered a residence at New Subdivision, Grand Turk, and proceeded to rob the occupants.
The armed suspects managed to flee the scene on foot and escaped.
“Following the report, officers were dispatched to the scene, conducted extensive searches and interviewed individuals. Based on the information received, we are actively pursuing several leads that will lead to arrests in the shortest possible time.
“The incident highlights the importance of remaining vigilant and proactively safeguarding homes and families. I advise people to enhance their home security by locking doors and windows when inside, investing in a CCTV system, and ensuring adequate outdoor lighting. Should you have any information on this burglary or illegal activities in Grand Turk, please call 946-2299. ”
The RTCIPF asks the public to notify the closest police station, contact 911, the Serious Crime Unit at 231-1842, Crime Stoppers at 1-800-8477, and anonymously give any information on illegal activity.
Additionally, persons are encouraged to download the CrimeStoppers P3 app and share information.
TCI 3 Day Weather Forecast
GENERAL SITUATION: A stationary front extends to the west of the Turks and Caicos Islands and will gradually dissipate today.
SPECIAL WARNINGS: SMALL CRAFT OPERATORS AND BEACHGOERS SHOULD EXERCISE CAUTION DUE TO THE RISK OF RIP CURRENTS AND SWELLS ALONG NORTHEAST AND EAST COAST BEACHES.
WEATHER: Partly sunny with isolated showers possible. Partly cloudy with a slight chance of widely scattered showers and isolated thunderstorms tonight. Chance of rain is 20%.
ADVISORY: Small craft caution is in effect due to swells.
WINDS: Northeast to east at 10 to 15 knots
SEAS: 3 to 5 feet nearshore building up to 5 to 7 feet in northeasterly to easterly swell offshore.
DAYTIME HIGH TEMPERATURE 86°F
OVERNIGHT LOW TEMPERATURE 75°F
SUNSET: 07:08 PM
NEXT HIGH TIDE: 02:40 PM (2.0 FT)
NEXT LOW TIDE: 08:47 PM (0.7 FT)
EXTENDED FORECAST FOR THE NEXT TWO DAYS: Multi-level troughing near the Turks and Caicos Islands is expected to generate some unsettled weather over the islands on Tuesday. Weather conditions will improve as the trough gradually shifts eastwards Tuesday night as high pressure builds across the area.
FORECAST FOR TUESDAY
WEATHER: Partly to mostly cloudy, chance of scattered showers and isolated thunderstorms in the morning, with a slight chance of widely scattered showers in the afternoon. Chance of rain is 50%. Mostly fair with isolated showers possible at night.
ADVISORY: Small craft advisory will go into effect. Small craft operators should remain in or near port.
WINDS: Northeast to east at 15 to 20 knots
SEAS: 3 to 5 feet nearshore building up to 5 to 7 feet in northeasterly to easterly swell offshore.
SUNRISE: 06:28 AM
SUNSET: 07:08 PM
HIGH TIDE: 03:38 PM (2.6 FT) 03:42 PM (2.0 FT)
LOW TIDE: 10:18 PM (1.0 FT) 09:47 PM (0.7 FT)
FORECAST FOR WEDNESDAY
WEATHER: Partly sunny with isolated showers possible. Fair at night.
ADVISORY: Small craft advisory will remain in effect. Small craft operators should remain in or near port.
WINDS: Northeast to east at 15 to 20 knots
SEAS: 3 to 5 feet nearshore building up to 5 to 7 feet offshore.
SUNRISE: 06:27 AM
SUNSET: 07:09 PM
HIGH TIDE: 04:36 PM (2.6 FT) 04:44 PM (2.0 FT)
LOW TIDE: 11:13 PM (1.0 FT) 10:49 PM (1.0 FT)
FORECASTER: H. HAMILTON
Dominican Republic plans to swiftly complete a 250-mile border wall
The Dominican Republic has plans to swiftly complete a 250-mile border wall along its shared boundary with Haiti on the Caribbean island of Hispaniola, an attempt to protect the country as its land neighbor falls into further chaos.
Dominican President Luis Abinader is surging soldiers and construction resources to seal off the border as conditions on the west side of the island have slid into a state of anarchy in recent weeks as gangs and warlords have further clenched control of Haiti.
In an interview with the Wall Street Journal the Dominican president said “We are ensuring that this destabilizing situation stops right at the border,” end quote
The border wall project commenced three years ago and is based on Israel’s wall.
Abinader is running for reelection in May, and if he is successful, he will move quickly on carrying out a $120 million plan to install a barrier along the border.
Stage one of the plan is standing up a 12-foot wall made of concrete, topped with a metal fence and razor wire. That barrier would stretch along 30 miles of the most populated area along the border’s Massacre River.
The Dominican government has already erected sentry towers that include solar-powered cameras, and it has deployed drones to monitor where Haitians might cross out of sight.
Marijuana Campaigners in Germany lit celebratory joints
Marijuana campaigners in Germany lit celebratory joints on Monday as the country legalized possession of small amounts of cannabis for recreational use - a step that hasn't ended the debate over the drug.
The German Cannabis Association, which campaigned for the new law, staged a “smoke-in” at Berlin’s landmark Brandenburg Gate when the law took effect at midnight.
Other public consumption events were scheduled throughout the country, including one in front of the Cologne cathedral and others in Hamburg, Regensburg and Dortmund.
Germany becomes the third European Union country to legalize cannabis for personal use after Malta and Luxembourg. The government argued that legalization would undermine criminal trade in the drug, guard against harmful impurities, and free police to pursue more serious crimes while providing for protections against use by under-18s.
The new law legalizes possession by adults of up to 25 grams (nearly 1 ounce) of marijuana for recreational purposes and allows individuals to grow up to three plants on their own.
Use is prohibited within 100 meters (109 yards) of the entrance to a playground or school. That part of the legislation took effect Monday.
German residents age 18 and older will be allowed to join nonprofit “cannabis clubs” with a maximum 500 members each starting July 1.
Individuals will be allowed to buy up to 25 grams per day, or a maximum 50 grams per month — a figure limited to 30 grams for people under age 21. Membership in multiple clubs won’t be allowed.
The clubs’ costs will be covered by membership fees, which are to be staggered according to how much marijuana members use.
The legislation also calls for an amnesty under which sentences for cannabis-related offenses that will no longer be illegal are to be reviewed and in many cases reversed. Regional authorities worry that the judicial system will be overburdened by thousands of cases.
Dua Lipa named one of TIME100's most influential people in the world
Dua Lipa has been named as one of TIME100's most influential people in the world for 2024.
The singer graces one of the issue’s covers, and in the accompanying interview discusses her new album, Radical Optimism, her recently established media and management company Radical22, and the importance of her Albanian heritage, among other things.
Of her upcoming album, Dua says that as a whole, the record is “more mature” than what she’s done in the past.
“I'm definitely not the same person I was when I wrote my first album,” she says. “I've evolved and learned so much… taking it as it comes, not seeing anything as bad or something as a setback. That involves a lot of growing and understanding myself, knowing my worth, whether it be in business, love, or friendship.”
She says she was dreaming of her third album even while making her first and considers manifesting a big part of her success.
“Since I was very little, I've jotted down things I dreamt for myself…I’ve always planned ahead,” Dua says. “Although surprises arise that I evaluate in the moment, there’s always a long-term goal … Subconsciously, you just work towards them. Nothing’s ever too big.”
The full 2024 TIME100 list comes out on Wednesday, April 17.
Source-ABC
UK competition watchdog has 'concerns' over big tech AI dominance
The Competition and Markets Authority (CMA) is looking into a new breed of powerful AI tools - foundation models.
They include text and image generators, such as ChatGPT.
The CMA found an "interconnected web" of AI partnerships involving the same firms: Google, Apple, Microsoft, Meta, Amazon, and chip-maker Nvidia.
"When we started this work, we were curious. Now, with a deeper understanding and having watched developments very closely, we have real concerns," Sarah Cardell, the chief executive of the CMA said.
"The essential challenge we face is how to harness this immensely exciting technology for the benefit of all, while safeguarding against potential exploitation of market power and unintended consequences."
Ms Cardell delivered the warning in a speech on Thursday in Washington.
The CMA said that a small number of incumbent technology firms - already powerful in the most important digital markets - were also now taking the lead with foundation models.
Trained on vast amounts of data, they underpin tools that are transforming workplaces and other aspects of modern life.
The big tech firms have strong positions in terms of computing power, and access to skilled employees, the CMA said, and can influence access to the market through apps and platforms.
This could profoundly impact fair competition "ultimately harming businesses and consumers, for example through reduced choice, lower quality, and higher prices, as well as stunting the flow of potentially unprecedented innovation and wider economic benefits from AI", the CMA argued.
The CMA said it wanted to learn from previous experience in digital markets where "winner takes all dynamics" led to the rise of a small number of powerful platforms.
It said it was "determined to apply the lessons of history" at what it termed a "pivotal moment in the emergence of a new, potentially transformative technology."
A new paper, it found more than 90 connected investments and partnerships involving the same small number of tech giants.
The watchdog is already undertaking a review of Microsoft's multi-billion dollar partnership with OpenAI.
But it said it recognized "the huge wealth of resources, expertise, and innovation capability these large firms can bring to bear".
However, these should not "insulate" powerful firms from competition.
Source-BBC