X-odus: Musk platform ‘distinctly not well received’ by marketers September 5, 2024 Marketers’ trust in Elon Musk’s X as an effective platform for advertising has plummeted since 2022, with advertisers anxious about the “brand safety” that the controversial social media channel offers. Approval ratings for the social media channel have plummeted to minus 21 per cent, down from plus 15 per cent just two years ago, according [...]
Wall Street carnage continues as Nvidia leads US tech selloff September 4, 2024 A wave of panic selling hit Wall Street on Tuesday, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all suffering their steepest daily percentage declines since early August. The carnage was widespread, with nine of the 11 sectors within the S&P 500 sinking into the red, led by sharp declines in technology, [...]
Bluesky: Social media site eyes politicians after ‘quite the influx’ of UK accounts August 24, 2024 Chiefs at social media site Bluesky have suggested they are eyeing politicians for their platform after X owner Elon Musk’s commentary on UK current affairs.
Lamborghini Revuelto: Hybrid tech brings hypercar performance August 9, 2024 Like an automotive sequel to Night at the Museum, I half-expect the slumbering supercars to burst uproariously into life. But there’s still an hour to go before the Museo Lamborghini opens its doors to the public, the lights are dimmed and all is eerily calm. I sit alone for a few moments in quiet contemplation, [...]
More advertisers to flee X after recent Elon Musk lawsuit and riot comments August 9, 2024 Elon Musk’s antitrust lawsuit against brands that have boycotted X and his controversial activity on the platform during the recent spate of UK riots are set to exacerbate the long-held misgivings advertisers have with the site, leading industry figures have said. On Tuesday, Elon Musk’s X – formerly Twitter – filed a lawsuit against a [...]
Nvidia and Apple lead losses as trillions wiped from Nasdaq tech stocks August 5, 2024 Trillions of dollars have been wiped from the Nasdaq-listed tech giants taking a nosedive amid a global stock sell off, as fears of a US recession are causing investors to run for the hills. The so-called Magnificent Seven’s combined market capitalisation has lost at least $2.3t (£1.8t), equal to a 15 per cent slide from [...]
Elon Musk hires operations chief for Tesla’s household energy supplier August 4, 2024 Tesla has hired a new head of operations to help lead the launch of its household energy supplier as Elon Musk presses ahead with his vision for houses to have a "virtual power plant" of batteries.
Cathie Wood warns AI frenzy risks investor losses August 4, 2024 Tech investor Cathie Wood has warned that the fenzy around artificial intelligence that has boosted US tech stocks could leave investors scorched.
Magnificent Seven market concentration is a problem everywhere, not just on Wall Street July 31, 2024 ‘Market concentration’ is a phrase on the lips of a lot of the market right now, especially as the Magnificent Seven tech stocks continue to swell in size. The Magnificent Seven is made up of the Big Five tech stocks; namely Alphabet, Amazon, Apple, Meta and Microsoft, plus Nvidia and Tesla. Making up more than [...]
Week ahead: Market holds breath for busy central bank week July 28, 2024 Markets are preparing themselves for one of the busiest weeks of the calendar, with the Federal Reserve, the Bank of England, and Bank of Japan all deciding the path for interest rates in their country over the next five days.