Later this week President Joe Biden puts the final touches on a major win for his administration, signing the Inflation Reduction Act (IRA) into law. Among a number of initiatives in the $700 billion package are huge investments in new climate initiatives like rebate programs for energy efficient appliances and retrofits, production tax credits and provisions for battery and solar cell manufacturers, and most importantly for the automakers, as tax credits for new and used electric vehicles.
Tesla Chief Executive Officer Elon Musk said on Tuesday he was buying football club Manchester United Plc. Manchester United is one of the world's best supported football clubs. The team is controlled by the American Glazer family, who did not immediately respond to a request for comment.
(Bloomberg) -- Tesla Inc. whipsawed Tuesday after a relentless surge that pushed the stock up 50% from its May bottom lost some momentum, with investors broadly souring on growth stocks.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War Onset‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerging as New Expat Hot SpotsAmerica’s $7 Trillion Retirement Crisis Is Only Getting WorseWells Fargo Plans Major Retreat From Mortg