
Tesla executive, Elon Musk confidant leaves EV maker, Bloomberg News reports
June 26 (Reuters) - Tesla (TSLA.O), opens new tab executive and a confidant of CEO Elon Musk, Omead Ashfar, has left the company, Bloomberg News reported on Thursday, citing people familiar with the matter.
Ashfar, who was part of the CEO's office at Tesla, had started overseeing sales and manufacturing operations in Europe and North America last year, the report added.
Demand in both regions has softened, partly due to a backlash surrounding Musk's growing political involvement.
Tesla and Musk did not immediately respond to Reuters requests for comment, while Ashfar could not be reached.
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Telegraph
18 minutes ago
- Telegraph
With this surrender to Leftist rebels, Starmer's days as PM are numbered
It is now clear that Keir Starmer is making major concessions to his belligerent MPs to save his political career. A series of compromises have drastically diluted his landmark welfare Bill. This is not just a personal defeat. Starmerism, the final line of defence between the far-Left and the levers of power, is on the brink of collapse. Rachel Reeves and her Treasury colleagues will conclude Britain has little choice but to continue pursuing mass migration and increasing taxation. Spending 5 per cent of GDP on defence will become hopelessly unrealistic; even 3 per cent will be out of reach. All this is aside from the moral gravity of the failure to break the cycle of benefits dependency, or the impact it will have on those who study, strive and work hard to provide a better life for their families. Spending on welfare has ballooned in recent years. One in 10 people of working age are now claiming a sickness or disability benefit. By the end of the decade the country could be spending as much on disability benefits as it currently does on transport, policing and social care put together. The pool of workers is shrinking, whilst spending rises inexorably. In the end, this country will go to the wall. Starmer's reforms didn't go far enough; the IFS estimates that the benefits bill would still rise by £8 billion by 2030. Yes, this row – the row that could derail Starmer's premiership – would not even come close to cutting the overall cost. A benefits surrender risks destroying the trust of the markets, triggering a Truss-style meltdown, not immediately but inevitably. Labour came into power on the promise of 'change'. When Reeves hiked taxes by £40 billion in a single fiscal event, she insisted she was 'fixing the foundations'. The Government has sought to distance itself from the 'fantasy' economics now being advanced by Reform UK. How can it reconcile this with a benefits climbdown, coming in the wake of all the other about-turns on other cuts? How can it claim to be taking 'tough' decisions for the 'greater good'? Labour's far-Left, fresh from derailing Starmer's reforms, will surely make the case for a shift towards socialist populism. If Labour cannot see off Nigel Farage through the successful pursuit of deep reform, then, according to some Labour MPs, the next best thing is to try and match his immigration populism with economic populism. Wealth taxes, pensions tax raids, second home levies – all will be on the table. A failure to push through benefit cuts will above all be a moral calamity. Britain is becoming a country that mollycoddles 'takers' whilst clobbering the 'makers'. Citizens who attempt to improve their lives are being dragged down, through excessive taxation, the neutering of private enterprise or the destruction of the private school system. 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The Guardian
24 minutes ago
- The Guardian
Eric Adams, mayor of New York City, launches re-election campaign
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The Independent
31 minutes ago
- The Independent
North Carolina legislature leaves after passing Helene aid package, but still no budget
The North Carolina legislature wrapped up the chief portion of its annual session Thursday, passing another Hurricane Helene aid package this week after Republican majorities pushed through divisive bills to eliminate diversity, equity and inclusion programs and target transgender rights. Lawmakers in the ninth-largest state also fell short on completing their primary responsibility — enacting a two-year budget by July 1. There's no risk of a government shutdown, and House and Senate negotiators will keep meeting to reach budget agreements. Other legislation can be voted on when lawmakers return occasionally, possibly starting next month. More vetoes from Democratic Gov. Josh Stein likely will be waiting. Chambers remain far apart on 2-year budget House and Senate Republicans are split on competing budget bills they approved in the spring. Teacher and state employee pay, the scope of tax cuts and vacant government position eliminations are among the disagreements. 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Hundreds of shrimp industry members and their allies on Tuesday crowded inside and outside the Legislative Building to oppose the bill. A dozen semitrailers — draped with banners like 'NC Seafood for All. No Trawl Ban' — circled the building and blasted their horns for hours. Bill opponents cheered Wednesday outside a House Republican caucus meeting where members said they decided not to act on the bill. Many bills get over the finish line, head to the governor Legislators gave final approval this week to a host of bipartisan bills, such as a measure sought by the governor to require public school districts to pass policies barring students from having cellphones turned on during instructional time. There would be exceptions. Others were divisive, like a bill prohibiting state funds for gender-affirming care for prisoners and stating there are only two sexes. 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