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The announcement came alongside the company’s earnings report, with its nearly$6 billion in first quarter revenue beating expectations.

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.

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

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.

Q1 was the company’s best-ever quarterly profit thanks to whopping 62% year-over-year growth.

If the deal goes through, the merged entity will be the world’s biggest copper producer accounting for around 10% of global output.

There are unusually high stakes surrounding Tesla’s upcoming earnings report, as Wall Street prepares for what is expected to be the company’s worst quarter in years by most mainstream metrics and investors prepare for more details on projects the company’s enigmatic CEO Elon Musk claims he’s close to betting the $450 billion company on.