Bankruptcy of Stellantis’ Jeep joint venture in China could spell trouble for other automakers – The Globe and Mail | Vette Leader

A Stellantis corporate building in Velizy-Villacoublay, France, on February 1st.GONZALO FUENTES/Reuters The bankruptcy of Stellantis’ STLA-N Jeep joint venture in China could pose problems for other global automakers, whose output in the world’s largest auto market has slumped over the past five years as domestic players quickly overtake. The Oct. 31 bankruptcy filing, the first … Read more

Here are the EVs that give you a tax credit – TheStreet | Vette Leader

The Biden administration wants to encourage electric vehicle adoption by extending current federal tax credits. Electric vehicles are still a luxury for the vast majority of consumers. Their price has continued to rise in recent months due to ongoing disruptions in supply chains and rising prices for commodities such as nickel, cobalt and others needed … Read more

DCG’s Barry Silbert reveals crypto firm has $2 billion in debt as he tries to reassure investors after FTX – CNBC | Vette Leader

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders trying to calm investors’ nerves in the wake of FTX’s sudden collapse. In a note to shareholders on Tuesday, Silbert addressed all the “noise” about the financial health of DCG’s subsidiaries, which include trading company Genesis, Grayscale … Read more

Here is the apology letter Sam Bankman-Fried sent to FTX staff: "When things happen to us, we all tend to make irrational decisions" -CNBC | Vette Leader

Sam Bankman-Fried, Co-Founder and CEO of FTX, in Hong Kong, China on Tuesday May 11, 2021. Lam Yik | Bloomberg | Getty Images Ex-FTX CEO Sam Bankman-Fried backtracked his “irrational decisions” to “sh—y” circumstances in a letter obtained by CNBC and sent to employees at the bankrupt crypto exchange. Bankman-Fried said he was “frozen in … Read more

US oil giants Exxon Mobil, Chevron and ConocoPhillips face challenge for ‘secret’ tax practices – CNBC | Vette Leader

Late last month, US President Joe Biden threatened higher taxes on oil company profits if the industry giants don’t work to cut gas prices. Brandon Bell | Getty Images Oxfam filed shareholder filings against U.S. oil giants Exxon Mobil, Chevron and ConocoPhillips on Monday, saying a lack of transparency into its global tax practices poses … Read more

FTX Will Sell Or Restructure Global Empire, CEO Says – CNBC | Vette Leader

FTX’s new CEO said Saturday that the bankrupt crypto exchange plans to sell or restructure its global empire, even as Bahamian regulators and FTX argue in court filings and press releases about whether to proceed with the bankruptcy filing in New York or in Delaware . “Based on our review over the past week, we … Read more

Exxon Mobil’s big new climate change deal endorsed by Joe Biden – CNBC | Vette Leader

Could it be that Big Oil’s Next Big Thing received a major backing from Joe Biden? Perhaps if carbon capture and storage is indeed as big a deal as ExxonMobil’s first-of-its-kind deal to extract, transport, and store carbon from other companies’ factories implies. The deal announced last month calls for Exxon Mobile capture emitted carbon … Read more

Sam Bankman-Fried resigns as FTX CEO as his crypto exchange files for bankruptcy – CNBC | Vette Leader

Sam Bankman-Fried, Founder and Chief Executive Officer of FTX Cryptocurrency Derivatives Exchange, during an interview for an episode of Bloomberg Wealth with David Rubenstein in New York, United States, on Wednesday, August 17, 2022. jeenah moon | Bloomberg | Getty Images Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy protection in the … Read more

Tesla falls victim to Elon Musk’s Twitter takeover – TheStreet | Vette Leader

The clouds have gathered over Tesla (TSLA) . The maker of premium electric vehicles seems to be having the experience of the abandoned child or the disgraced favorite. The company appears to have lost the attention of its charismatic and visionary co-founder and CEO, Elon Musk. Blame Twitter (TWTR) which requires a lot of attention … Read more

Taxation is a blunt instrument, says IATA chief Willie Walsh: ‘The carrot is far more effective than the stick’ – CNBC | Vette Leader

According to the director general of the International Air Transport Association, the aviation industry needs more carrots and less sticks to become more sustainable in the future. Speaking at CNBC’s Sustainable Future Forum on Friday, Willie Walsh was asked whether subsidies and tax breaks to encourage investment in cleaner energy are more effective than companies … Read more