"In the past couple of weeks, what we've seen is not reassuring as to the ability of Twitter to comply with these new rules," Barrot added without specifying what aspects of Twitter policy are not reassuring. corrected, they will face an obligation to leave the EU" In case those failures to comply are not. If Twitter fails to comply with these obligations, Twitter will face sanctions of up to 6% of global sales. "There will be huge scrutiny by the EU commission … on the actions Twitter is going to take to meet these new obligations. The law will force tech giants, including Twitter, to police illegal content and disinformation on their platforms more aggressively, or risk potential multibillion-dollar fines. The minister last month said the social media app would be banned in the EU, if it did not follow the bloc's upcoming Digital Services Act that goes into effect in August. Elon Musk sells nearly 8 million Tesla shares CNN Business Markets DOW 34,053.87 0.72 S&P 500 4,388.71 0.47 NASDAQ 13,667.29 0.16 Fear & Greed Index 79 Latest Market News YouTube. Musk has been on the hunt for a new Gigafactory location, in addition to the company's major car manufacturing plants already present in the U.S., Germany and China.īarrot praised Musk as a "great inventor, probably one of the greatest of the beginning of this century."īarrot's attempt to woo Tesla sharply contrasted his fiery words for the billionaire in relation to Twitter. Musk is expected to speak in Paris on Friday at the Viva Tech summit - one of France's flagship technology conferences, where the government will have a large presence. AP Elon Musk offloaded about 6.9 billion worth of Tesla stock in a move he said was done. Tesla CEO Elon Musk deserves most of the credit for the stock's dazzling rally over the past month, an activist investor in the company said Thursday. entire sector of electric batteries so we will try to convince him that France is the best possible place in Europe to establish the next Tesla factory," Barrot said. Updated In his latest business move, Elon Musk has sold another huge load of Tesla stock. "It will be great to have a Tesla factory in France, there has been a lot of effort and energy to make sure this is possible and this can happen," Jean-Noel Barrot told CNBC's Charlotte Reed at the Viva Tech conference in Paris.įrance has been looking to boost its position as a hub for the electric car industry, opening its first electric car battery factory this year. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower This story corrects the year of Tesla’s all-time high to 2021, not 2020.Best Debt Consolidation Loans for Bad Credit The Austin, Texas, company began offering a $3,750 incentive on its Model 3 sedan and Model Y SUV on its website earlier this month, but on Wednesday doubled the discount to $7,500 for those who take delivery between now and Dec. This week, Tesla boosted the discounts it’s offering through year’s end on its two top-selling models, an indication that demand is slowing for its electric vehicles. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2021. Tesla shares fell more than 1% on Friday, to $123.74. Nobody had ever done that, in part because only one other person, Jeff Bezos, has ever had 200 billion to lose. The company has since lost nearly two-thirds of its value, at a time when rival automakers are cutting in on Tesla’s dominant share of electric vehicle sales. Tesla’s market value was over $1.1 trillion on April 1, the last trading day before Musk disclosed he was buying up Twitter shares. The personal wealth of Tesla’s TSLA chief executive officer. Tesla investors have grown weary of the 24/7 Twitter chaos that they say has distracted the eccentric CEO from the electric car company, his main source of wealth. Thanks to a rental-car company that at one point went bankrupt, Elon Musk is now worth a mind-boggling 289 billion.
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