Tuesday newspaper round-up: Tesla, Trump trial, Boeing, Thames Water, Apple

16th Apr 2024 07:06

(Sharecast News) - Tesla is to cut more than 14,000 jobs as Elon Musk's groundbreaking electric car company feels the heat of a global price war with Chinese rivals at the same time as stalled demand for zero-emission vehicles. In an email to staff amid reports that workers in California and Texas have begun receiving redundancy notices, Musk stated: "As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity." - The Times

Donald Trump appeared to fall asleep in court on the first day of his hush money case as he became the first US president to stand criminal trial. Mr Trump seemingly dozed off on Monday morning in the New York courtroom as his lawyers clashed with prosecutors over what evidence would be admissible. The former president has been charged with falsifying business records ahead of the 2016 election to cover up a $130,000 (£104,000) payment made to Stormy Daniels, an adult film star. - Telegraph

An internal service for Boeing employees to raise safety and quality concerns has "exploded" this year, an executive claimed, after a whistleblower said he endured retaliation for speaking up. The planemaker has come under intense scrutiny since a terrifying cabin panel blowout in January prompted fresh questions about the production of its bestselling commercial jet, the 737 Max. - Guardian

Thames Water has less than two months to persuade the regulator that it has a feasible plan for its survival. The troubled water company must present its plans to Ofwat before the regulator's publication on June 12 of its draft determinations that set out what households will pay in water bills through to 2030. The date effectively is D-Day for whether Thames Water, the financially stricken supplier and sewerage operator, becomes an investable proposition and is able to attract new equity investors to save the heavily indebted company. - The Times

Apple has lost its spot as the world's biggest mobile phone seller after a steep sales drop as South Korean rival Samsung retook the lead in the global market share. Samsung had been the biggest seller of mobile phones for 12 years until the end of 2023, when sales of Apple's iPhone models overtook it. - Guardian