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Elon Musk's multi-billion dollar empire under fire from US government- here's why
Economic Times
·
7m ago
Medial
Elon Musk is facing numerous federal investigations into his business empire, including Tesla, SpaceX, and Neuralink. Alleged violations range from securities infractions during the Twitter takeover to Tesla's Autopilot safety concerns and Neuralink's animal testing practices. As the Trump administration transitions, concerns arise that Musk’s close ties with Trump might influence the outcome of these probes. However, legal experts argue strong cases may persist despite potential political interference, underscoring challenges in prosecuting Musk effectively.
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Elon Musk's SpaceX is building spy satellite network for US intelligence agency
Economic Times
·
1y ago
Medial
SpaceX is reportedly working on a classified project with a US intelligence agency to build a network of spy satellites. Under a $1.8 billion contract with the National Reconnaissance Office (NRO), SpaceX's Starshield business unit is developing a system of low-orbit satellites that can operate as a swarm. The network aims to enhance the US government's ability to quickly identify potential targets worldwide, bolstering national security efforts. The project highlights increasing cooperation between SpaceX and national security agencies, despite controversies surrounding Elon Musk's dealings with the US government.
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China's military, state media slam U.S. after Reuters report on SpaceX spy satellites
Reuters
·
1y ago
Medial
Chinese military and state-run media have accused the United States of threatening global security after a Reuters report revealed that Elon Musk's SpaceX is building hundreds of spy satellites for a US intelligence agency. SpaceX's Starshield unit is developing the satellite network under a classified $1.8 billion contract with the National Reconnaissance Office. The accusations by the Chinese media come amid increasing tensions between the US and China over tech companies and national security concerns. The Chinese media called on US companies to not aid in "evil" activities and warned against new security threats created by the US government.
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Elon Musk's luck has finally run out
Business Insider
·
1y ago
Medial
Elon Musk's recent decisions have led to a decline in his fortunes. Despite previous successes with Tesla and SpaceX, Musk's acquisition of Twitter and his overconfidence have created problems for his empire. The article explores the impact of Musk's debt, shrinking profits at Tesla, and the challenges faced by Twitter. It suggests that Musk's ambitious and risk-taking nature may have finally caught up with him.
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Elon Musk's X wants to stop showing headlines on news articles. Here's why
Livemint
·
1y ago
Medial
Elon Musk's social media platform X (formerly Twitter) plans to remove headlines from news articles to encourage more engaging posts. Musk also calls on journalists to publish directly on the platform for more income. The move aims to reduce the height of tweets and curb clickbait.
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Who runs DOGE? Not Elon Musk, says White House
Business Today
·
5m ago
Medial
Elon Musk serves as a senior adviser to the president as part of the Department of Government Efficiency (DOGE) but has no formal authority to make decisions. Appointed by Trump alongside Vivek Ramaswamy, Musk's role is primarily advisory, similar to Anita Dunn’s position with President Biden. DOGE focuses on regulating government spending, but a federal judge has restricted its access to US Treasury payment systems. Investigations into various agencies continue under DOGE’s oversight.
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EU asked to say how much funding given to Elon Musk's firms
Economic Times
·
5m ago
Medial
The EU has been questioned about its funding to Elon Musk's companies amid rising tensions with the US. German Green EU lawmaker Daniel Freund requested the European Commission to disclose detailed EU funding, including grants and subsidies, for Musk's businesses over the past five years. Freund cited concerns over Musk's companies potentially weakening the EU. Elon Musk's social media platform, X, is under EU scrutiny, while Musk accuses the EU of censorship regarding content moderation rules.
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‘Send Musk to Mars’: Worldwide protests erupt as Tesla faces backlash over Elon's politics
Business Today
·
5m ago
Medial
Elon Musk's political activities are under scrutiny, leading to global protests and backlash against Tesla. Concerns stem from Musk's policies affecting environmental and labor issues. His strategic involvement in government efficiency is a major point of criticism. The protests and vandalism indicate significant challenges for Tesla as it deals with the consequences of Musk's political ties and decisions.
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Australia rejects Elon Musk's claim that it plans to control access to internet
Economic Times
·
8m ago
Medial
Australian Treasurer Jim Chalmers rejected Elon Musk's claim that the government planned to control internet access for all Australians. The government recently introduced legislation that would fine social media platforms, including Elon Musk's company X Corp, if they allow children under 16 to have social media accounts. Chalmers stated that Musk's criticism was not surprising and that their priority was to protect children online. The legislation could be passed as early as next week, and Musk suggested it was a way to control internet access. The ongoing tension between the Australian government and Musk involves regulators' efforts to mitigate public harm caused by social media.
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Elon Musk's US government 'takeover' sounds alarm bells
Economic Times
·
6m ago
Medial
Elon Musk has gained significant influence over the US government, raising concerns of an unconstitutional power grab. He now controls the US Treasury's payments system and announced the shutdown of USAID. His company employees are taking key government roles and urging federal workers to quit. While Trump claims oversight, Democrats criticize Musk's unprecedented power and lack of accountability. Tensions rise as Musk's influence expands, with critics questioning the legality and ethicality of his actions.
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Gautam Adani ‘bribery’ case: How the troubles began since Hindenburg allegations — a timeline | Company Business News
Livemint
·
8m ago
Medial
The Securities and Exchange Commission (SEC) has charged Adani Group Chairman Gautam Adani and his nephew Sagar Adani, among others, with involvement in a multi-billion-dollar bribery and fraud scheme. The SEC alleges that Adani Green Energy and Azure Power raised funds from US investors, promising bribes to Indian government officials to secure solar energy contracts. This comes after a report by US-based short seller Hindenburg Research alleged stock manipulation and accounting fraud by the Adani Group, leading to significant market value losses. Adani Enterprises also saw a drop in share price and Gautam Adani's net worth.
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