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Jared Kushner, Trumps son-in-law: Putin has a different vision for Russia, and these visions can be realized even after the conflict ends.Jared Kushner, Trumps son-in-law: A new technocratic government has been established in Palestine; it is neither the Palestinian Authority nor Hamas. This government cannot exist if armed groups are present. We are gradually realizing that the militarization of Gaza has exceeded our comprehension. Achieving demilitarization of Gaza will be extremely difficult.U.S. Presidential Envoy Witkov: We first met with Russian President Putin to ascertain his position. We held practical and in-depth talks with him and informed Zelensky of the situation. We are confident that this matter can be resolved properly.On September 7, Ukrainian President Volodymyr Zelenskyy met with U.S. Special Envoy Sergei Witkov and Trumps son-in-law Jared Kushner in Kyiv on Sunday. National security chiefs from the UK, France, and Germany later joined the talks. Zelenskyy stated that the U.S., Ukraine, and Europe had decided to meet again, though the time and location were yet to be determined. Witkov said, "We made progress in Moscow. We have some new ideas and brought them to Kyiv." Zelenskyy declined to elaborate on any "new ideas" to end the conflict, but indicated that Sundays talks also touched on Ukraines post-war "prosperity plan." Zelenskyy stated that territorial issues, including Russias demand for Ukraine to cede more territory in the Donbas region, should be resolved at the "leadership level." Zelenskyy said Ukraine was prepared for the Russo-Ukrainian war to continue into another harsh winter and sought a package of support from allies, including air defense reinforcements and energy, including U.S. liquefied natural gas.On September 7th, Iranian Parliament Speaker Mohammad Ghalibaf announced on Sunday that Iran would adopt a more aggressive military posture in its war with the United States. Ghalibaf stated in a post, "If they havent understood by now, then they should understand before its too late that the rules of the game have changed. From now on, any act that infringes upon Irans interests and security will be met with a faster, fiercer, and more painful response." He had previously warned that Irans retaliatory actions would no longer be "reciprocal." Ghalibaf also acknowledged that Iran is facing severe economic pressure under the comprehensive sanctions and "strangulation" and isolation efforts led by the United States. He said, "Sharp exchange rate fluctuations, inflation, unemployment, and market management are fundamental challenges that have placed enormous pressure on peoples livelihoods." He further stated that Iran must commit to strengthening domestic production and utilizing technology to "develop short-term and permanent solutions."

Tesla's results exceed expectations; Elon Musk does not see any demand difficulties

Charlie Brooks

Jul 21, 2022 10:59

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Tesla (NASDAQ:TSLA) Inc reported a quarterly profit above analyst forecasts on Wednesday, as a series of price increases on its best-selling electric vehicles helped to overcome production challenges caused by COVID-19 lockdowns in China.


Elon Musk, the CEO of Tesla, claimed on a conference call that he expects inflation to begin declining by the end of the year and that Tesla has no demand issues.


Despite what he dubbed "embarrassingly expensive" vehicle prices, he rejected the claim that Tesla's popularity was affected by the global economic crisis. The price of the long-range form of Tesla's Model Y in the United States has grown by more than 30 percent since the beginning of 2021, to its current price of $65,990.


The company forecasted a "record-breaking second half" of the year and maintained its goal of a 50 percent average annual increase in vehicle deliveries over a multi-year period, but did not disclose specific delivery targets for 2022.


During after-hours trading, Tesla's shares increased by almost 1 percent. Since hitting a high point in November, the stock price has decreased by about 40 percent.


Tesla's China facility concluded the second quarter with a monthly production record. Musk added that new factories in Texas and Berlin were projected to produce 5,000 vehicles per week by the end of the year, with Berlin producing 1,000 vehicles per week in June.


Musk has previously referred to the proposed facilities as "gigantic money furnaces" and stated that he had a "bad feeling about the economy."


Following Tesla's earnings release, Morgan Stanley (NYSE:MS) wrote in a research, "We are prepared for near-term margin challenges due to (new) problems with scaling up additional production, particularly in Berlin."


Executives acknowledged a persistent lack of older-generation microchips, but maintained that there were no significant concerns with the supply of chips and batteries, barring unplanned COVID-related shutdowns.


The EV maker posted a quarterly adjusted profit of $2.27 per share, compared to the average estimate of $1.81 per share among industry experts.


Due to inflationary pressure, the company's automotive gross margin fell to 27.9 percent, down from the same time a year ago and the previous quarter.


Jesse Cohen, senior analyst at Investing.com, commented, "Tesla's outstanding quarter is the latest indicator that the firm has succeeded at handling global supply chain and logistical challenges, weathering the storm better than most conventional automakers."

BITCOIN TO CASH

Tesla reported that it has converted around 75% of its bitcoin acquisitions into fiat currency, increasing its cash position by $936 million. Musk indicated on the conference call that the sale was undertaken to increase cash since Tesla was unsure of how long the COVID-19 lockout in China would endure. Tesla has not sold any of its Dogecoin-related holdings.


"This should not be seen as a decision on bitcoin," he continued, adding that Tesla is open to increasing its cryptocurrency holdings in the future.


Musk claimed in May 2017 that Tesla had no plans to sell its bitcoin holdings.


"The bitcoin losses emphasize an essential part of Tesla's investment case: its eccentric owner. Laura Hoy, an analyst at Hargreaves Lansdown, claims that Musk's attitude is beginning to raise governance problems as a result of his company-benefiting innovation.


In the second quarter, overall sales dipped to $16.93 billion from $18.76 billion in the previous quarter, breaking Tesla's trend of posting record revenue in previous quarters.


Analysts projected a sales of $17.10 billion, according to data from IBES and Refinitiv.