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"There Will Be Blood" - Elon Musk Announces Litigation Department Amidst Allegations

It's been a rough few weeks for Tesla CEO Elon Musk. This time last month Tesla stock was nearing an all-time high and Musk was on the verge of buying Twitter. However, now the Twitter deal is stalling and Tesla stock has plummeted by over 30%. Meanwhile Musk is facing sexual misconduct allegations dating back to half a decade ago.
ECONOMY
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Shrinkflation: The Other Inflation That Fools Consumers At The Cash Register

Official inflation numbers do not tell the whole inflation story because they don't count “shrinkflation,” which fools consumers at the cash register. As inflation becomes part of life, it takes two forms. One of them is the conventional, official price inflation, where the price of a fixed "basket" of goods and services costs more over time.
ECONOMY
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Cost of living: Your questions answered on inflation, energy bills and food prices

Living standards are expected to fall this year at their fastest pace for decades as prices rise and wages fail to keep up.People on the lowest incomes are being hit hardest by the cost-of-living crisis because essential goods like gas, electricity and food are seeing the biggest increases.Economists’ forecasts seem to get bleaker with alarming frequency. I'll be here on Monday 23 May to answer your questions on what it all means.Many of us will have received alarming letters from energy companies informing us of massive increases to our monthly payments. No doubt you will have noticed prices on petrol...
ECONOMY
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What political price will Democrats pay for high inflation?

Democrats are bracing for a bad election night this November, and if they aren't worrying, the pundits certainly are on their behalf. The president's party usually loses seats in midterm elections, especially the first off-year election for a new president, and Democrats have no seats to spare in Congress. But this year, Democrats have the added headwinds of high inflation — and worse, the dreaded specter of "stagflation," or the combination of rising costs and lower economic growth.
U.S. POLITICS
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Panel spars over Biden's accountability on inflation, baby formula

Former Bush adviser Scott Jennings, former Democratic lawmaker Bakari Sellers, former Trump aide Alyssa Farah Griffin and former Biden speechwriter Jeff Nussbaum join CNN’s Dana Bash to discuss Trump’s impact on the Georgia GOP governor’s race, a new poll showing an overwhelming amount of Americans feeling pessimistic about state of the country, and how issues like inflation and the baby formula shortage will affect voters in the fall.
GEORGIA STATE
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Fast Company

Inside the design of Zoox, Amazon’s quirky, self-driving car

I’ve seen the future, and it looks a lot like an old, horse-drawn “wagon.”. That’s not my analogy, but the way the eight-person design team behind Zoox so often describes their self-driving car. First founded in 2014 and acquired by Amazon in 2020 for $1.2 billion, Zoox has spent nearly the last decade building an autonomous vehicle from scratch. Their goal is not to sell the car, but to build the rideshare service of tomorrow to challenge Uber and Lyft.
ENGINEERING
POLITICO

Forecasters see a longer inflation slog

Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Act on the news with POLITICO Pro.
ECONOMY

L’Oréal Invests in Japanese Personalized Beauty Startup

PARIS – L’Oréal’s venture capital fund has taken a minority stake in Sparty Inc., a Japanese beauty startup focused on personalized beauty. It is the first time that the fund, called Business Opportunities for L’Oréal Development, or BOLD, has invested in a Japanese concern.
BEAUTY & FASHION
insideevs.com

Germany: Volkswagen Starts Production Of ID.4 In Emden

On May 20, Volkswagen officially started series production of the ID.4 in Emden in Lower Saxony, which is the second manufacturing site for the model in Germany, after Zwickau. Once the plant in Chattanooga, Tennessee joins the party in Fall 2022, the Volkswagen ID.4 will be produced in a total...
CHATTANOOGA, TN