Investing

After jostling for the position of second-wealthiest person in the world more than a dozen times in March, Musk and Bezos are competing closely once again.

The company said it moved forward with layoffs because it “simply had no other way to bring its spending in line with revenue.”

Elon Musk internally announced that about 500 people, or the entire team that works on superchargers for Tesla, were being let go this week, according to The Financial Times.

An indictment naming Roger Ver—“Bitcoin Jesus”—has been unsealed in federal court. Ver has been charged with mail fraud, tax evasion & filing false tax returns.

Qantas says it’s working to resolve an issue impacting its app, after reports surfaced of a potential privacy breach.

Australian fintech company Airwallex is launching a program for local startups to boost their growth, with grants and perks on offer.

Budget airline Bonza Aviation, which launched in January 2023, has temporarily suspended its services.

By organizing challenges and pre-screening small nonprofits, Lever for Change has helped a handful of billionaires shift some giving towards global grassroots organizations.

Republic First Bancorp was seized by Pennsylvania regulators Friday, following a failed deal earlier this year to infuse the Philadelphia-based regional bank with new funds, amid a decline in deposits and a struggling mortgage lending business.

Tech stocks on Wall Street defied sticky inflation Friday to post their biggest gain in more than two months—easing market anxiety about a slowdown in economic activities—after blockbuster first-quarter earnings and continued betting on artificial intelligence fired up the valuations of major companies.