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EU fines X $140 million for violating landmark digital service rules

The EU fined Elon Musk's X €120 million for violating the Digital Services Act, marking the first penalty under this law. The fine addresses deceptive practices like the blue checkmark system and lack of transparency in ads. X can appeal or settle by complying with DSA rules. The investigation into X's moderation and disinformation practices continues, with potential further penalties.

The Verge·
US
TSLA
+1.74%
The Verge·
US
TSLA
+1.74%

Nio power signs new deal for swap station construction

Nio Power, a subsidiary of Nio Inc, has signed a strategic cooperation agreement with Wuhan's Optics Valley Traffic Company to construct and operate charging and battery swap facilities. This partnership aims to enhance EV infrastructure and energy innovation. Nio Power, headquartered in Wuhan, operates a battery swap station assembly plant and plans to expand its production capacity significantly by 2025. The agreement marks a significant step in Nio Power's infrastructure development, supported by a recent RMB 1.5 billion investment from strategic investors.

CnEVPost·
HK
09866
+2.13%
SG
NIO
+0.98%
US
NIO
+4.59%
CnEVPost·
HK
09866
+2.13%
SG
NIO
+0.98%
US
NIO
+4.59%

Musk’s bold AI plan to wipe out US debt and rethink work

Elon Musk proposes a bold AI-driven strategy to address the US national debt, which has surpassed $38 trillion, with interest payments exceeding the military budget. Despite decades of policy attempts, the debt continues to rise, prompting Musk's intervention.

MSN·
US
TSLA
+1.74%
MSN·
US
TSLA
+1.74%

Tesla, Inc. $TSLA Shares Sold by Allium Financial Advisors LLC

Allium Financial Advisors LLC reduced its Tesla holdings by 51.1% in Q2, selling 2,991 shares. Tesla stock opened at $454.53, with a 1.7% increase. Analysts have mixed ratings, with a consensus "Hold" and a price target of $398.92. Tesla's quarterly revenue rose 11.6% year-over-year, exceeding expectations.

Market Beat·
US
TSLA
+1.74%
US
TSDD
-3.41%
US
TSLL
+3.26%
Market Beat·
US
TSLA
+1.74%
US
TSDD
-3.41%
US
TSLL
+3.26%

Tesla launches low-cost Model 3 variant in Europe

Tesla has launched a lower-priced Model 3 variant in Europe, following its U.S. release. The Model 3 Standard aims to boost demand amid competition from European and Chinese electric car makers. Prices are set at 37,970 euros in Germany, 330,056 Norwegian crowns in Norway, and 449,990 Swedish crowns in Sweden. This move follows the October launch of a cheaper Model Y in Europe.

Reuters·
US
TSLA
+1.74%
US
TSDD
-3.41%
US
TSLL
+3.26%
Reuters·
US
TSLA
+1.74%
US
TSDD
-3.41%
US
TSLL
+3.26%
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