STORY: From why Tesla shares began the year with a thud, to another bruising time for big tech staffers, these were the week’s big stories in business and finance. First up….
Over 12% was the slide in Tesla shares on the first trading day of the year.
The sell-off came after the EV maker missed market expectations in the fourth quarter, raising worries over demand.
Investors also fret that boss Elon Musk is still distracted by his Twitter dramas.
Tesla’s market value is down around $370 billion since he bought the social network.
$750 million is the latest money to be raised by another of Musk’s firms, SpaceX, in a funding round that values it at $137 billion.
That’s according to reports by CNBC.
Investors in the new round include Andreessen Horowitz, which also backed his Twitter deal.
30% was the plunge in shares for Bed Bath & Beyond after it warned it was exploring options including a bankruptcy filing.
The homewares retailer said there was real doubt if it could continue as a going concern.
Over 18,000 is how many jobs Amazon now says it will cut.
That’s about 6% of its corporate workforce, with most of the reduction to come in e-commerce and HR teams.
The same week saw Salesforce announce plans to cut 10% of its staff.
And about 25 celsius, or 77 Fahrenheit, was the temperature in parts of southern Europe this week.
The winter heatwave has beaches busy, and environmentalists worried about climate change.
But it has also helped send sky-high natural gas prices sharply lower amid little demand for heating.
That spells relief for governments committed to helping cap consumers’ bills.