As the weekend wraps up, the financial world has been buzzing with a variety of stories. From record-breaking deliveries for Tesla, Inc. TSLA to controversial policy changes in Florida, here’s a look at five of the most significant stories that unfolded over the past few days.
Tesla’s Record Q2 Deliveries
Tesla, Inc. TSLA has once again proven its dominance in the electric vehicle market with a record-breaking second quarter. The company delivered 466,140 cars in June, an 83% increase year-over-year, surpassing market estimates of around 445,900. This impressive performance is attributed to strong demand and production efficiencies, with Wedbush analyst Daniel Ives predicting that Tesla will stay on course to hit the 1.8-million-unit delivery guidance for the year. Read the full article here.
Twitter’s New Limitations
Twitter, under the leadership of CEO Elon Musk, has implemented temporary limitations on how many tweets users can read daily. The move is aimed at tackling “extreme levels” of data scraping and system manipulation from the platform. Verified account holders can now browse up to 10,000 posts daily, while unverified users have access to 1,000 per day. Read the full article here.
Ron DeSantis’ Financial Success
Florida Governor Ron DeSantis has seen a significant increase in his net worth, reaching $1.17 million by the end of 2022, thanks to a $1.25 million book royalty. His book, “The Courage to be Free,” offers an early public preview of his 2024 presidential campaign and has topped The New York Times and Amazon's bestseller lists. Read the full article here.
Controversial Alimony Law in Florida
Ron DeSantis has signed a bill into law that ends permanent alimony in Florida, sparking controversy and debate. The new law restricts the duration of alimony to a maximum of 50% of the length of the marriage and includes provisions that make it more difficult for judges to award alimony payments that exceed 25% of the payer's gross monthly income. Read the full article here.
Janet Yellen’s Visit to China
US Treasury Secretary Janet Yellen is set to visit Beijing this week to discuss various macroeconomic and financial issues. The Biden administration has clarified that it does not seek to decouple the US and Chinese economies, and while significant breakthroughs are not anticipated during this visit, Yellen’s trip underscores the administration’s commitment to managing the relationship responsibly. Read the full article here.
What Else?
Reports suggest that Goldman Sachs Group, Inc. GS is considering severing its ties with Apple, Inc. AAPL, potentially marking the end of its consumer lending operation.
Meanwhile, United Airlines Holdings Inc UAL is compensating passengers affected by weeklong delays and cancellations with 30,000 frequent flyer miles.
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