Tesla shares have dropped 43% this year, prompting concerns about the company's future profitability and demand for electric vehicles. The recent price cuts and staff layoffs indicate ongoing challenges. Analysts view the upcoming earnings report and comments as crucial for Tesla's future success. CEO Elon Musk seeks approval to buy 300 million shares at a discount after a compensation package setback.
Tesla's stock dropped below $150 per share, erasing gains from the past year due to declining sales and job cuts. The company's shares are down 12.4% for the week and over 39% for the year. Tesla also announced a 10% global workforce reduction of about 14,000 jobs and plans to reinstate Elon Musk's $56 billion pay package that was previously rejected by a Delaware judge. Analysts describe the first quarter sales numbers as an 'unmitigated disaster' amidst increased competition and slowing electric vehicle sales growth.
Tesla has experienced a tumultuous year marked by a more than 40% stock slide, declining sales, confusing product decisions, and price cuts. The company's dominance in China's EV market is under threat, with a missed investment announcement with India's Prime Minister Narendra Modi adding to the chaos. Amidst an ongoing board dispute over a $56 billion payout to CEO Elon Musk, Tesla is set to report a 40% drop in operating profit and its first revenue decline in four years. Musk has initiated the company's largest layoff and is focusing on a self-driving vehicle concept called the robotaxi.
Tesla shares dropped almost 6% in a week due to lower EV demand and plans to cancel a sub-$30,000 EV in favor of a self-driving robotaxi, despite CEO Elon Musk denying the reports. First quarter delivery numbers were below expectations, with 10% fewer deliveries than the previous year and a 20% drop from the fourth quarter. Tesla raised Model Y prices in the US and China but later introduced incentives to boost demand. Stock prices fell, marking a rough start to the second quarter for the company.
Tesla experienced a sharp decline in sales in the first quarter of 2023, delivering 386,810 vehicles worldwide, almost 9% below the previous year's sales. Factors contributing to this decrease included increased competition in the electric vehicle market, slowed growth in EV sales globally, and unsuccessful price cuts. Challenges such as phasing in an updated Model 3, plant shutdowns, and an arson attack in Germany were also cited. Analysts had anticipated 457,000 deliveries, highlighting a significant shortfall. Analysts warn that CEO Elon Musk must steer the company back on track to avoid potential disruptions in Tesla's long-term narrative.
Tesla has reduced prices in China and the US after facing disappointing first-quarter sales and increasing inventory levels. In China, the Model 3 and Model Y prices were lowered, while in the US, the Model Y's starting price was decreased to $42,990. The company also discounted the Model X and two other versions of the Model Y. Elon Musk postponed a trip to India and Tesla plans to ask shareholders to vote on a $56 billion compensation package for Musk. Tesla's stock has dropped over 40% this year amidst concerns about sales and competition.
Tesla has announced the layoff of 2,688 employees at its Texas factory, part of a global workforce reduction of 10%. The layoffs come amidst falling sales, a price war with Chinese EV makers, struggles with the Cybertruck, and disappointing financial results. CEO Elon Musk is set to discuss these issues during the quarterly earnings call. The company's share price has dropped 41% to $145, prompting concerns among investors. Additionally, Tesla's plan to move its state of incorporation to Texas is underway. Layoffs have also affected workers in Buffalo, New York, and other Tesla facilities nationwide.
Tesla CEO Elon Musk announced in a memo that the company plans to reduce its workforce by more than 10% globally to eliminate duplication of roles and increase productivity in preparation for the next phase of growth cycle. The layoffs come after Tesla's first year-over-year drop in vehicle deliveries since 2020, attributed to supply chain disruptions and internal challenges. Despite the difficult decision, Musk emphasised the need for the company to become leaner, more innovative, and ready for future advancements in auto, energy, and artificial intelligence technologies.
Tesla laid off some of its recruiters on Friday after announcing a more than 10% reduction in headcount, citing duplication of roles. Former employees revealed the layoffs anonymously, with uncertain numbers impacted. Executives Drew Baglino and Rohan Patel resigned the same day. The cuts align with slower demand for Tesla's electric cars, with stock down 35% in 2022. Tesla's next earnings report is scheduled for April 23, and the company has not yet commented on the layoffs.
Tesla, led by Chair Robyn Denholm, is asking shareholders to reapprove a $56 billion pay package for CEO Elon Musk after it was initially rejected by a US judge. Denholm stated that the board supports the original deal, believing in big risks for big rewards. Shareholders will also vote on relocating Tesla's corporate home to Texas. The company recently faced challenges with falling vehicle deliveries and share prices. Musk's compensation package was voided in January, with legal experts questioning Tesla's attempt to restore it through a shareholder vote.
Tesla is reducing staff in the United States and China, its two largest markets, across sales, tech, and engineering, with CEO Elon Musk announcing more than 10% of the global workforce being laid off due to falling sales and intensifying competition in the electric vehicle market. High-ranking leaders like battery development chief Drew Baglino and public policy vice-president Rohan Patel are also leaving. Job cuts are affecting service centers in the US and sales teams in China, while analysts suggest the decline in deliveries reflects lower demand, not supply issues.
Tesla CEO Elon Musk believes the company needs to undergo a "complete organizational overhaul" every half decade to advance. Following reports of mass layoffs cutting over 10% of staff, Musk cited the need to eliminate role duplication due to rapid growth. The layoffs also coincide with the departure of two veteran executives. Musk expressed concerns about declining sales and rising competition from Chinese automakers like BYD, emphasizing the need for change to stay competitive. Tesla employs over 140,000 globally.
Tesla, Inc. ( TESS-lə or TEZ-lə) is an American multinational automotive and clean energy company headquartered in Austin, Texas, which designs, manufactures and sells electric vehicles, stationary battery energy storage devices from home to grid-scale, solar panels and solar shingles, and related products and services.Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. In February 2004 Elon Musk joined as the company's largest shareholder and in 2008 he was named CEO. In 2008, the company began production of its first car model, the Roadster sports car, followed by the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y crossover in 2020, the Tesla Semi truck in 2022 and the Cybertruck pickup truck in 2023. The Model 3 is the all-time bestselling plug-in electric car worldwide, and in June 2021 became the first electric car to sell 1 million units globally. In 2023, the Model Y was the best-selling vehicle, of any kind, globally.Tesla is one of the world's most valuable companies. In October 2021, Tesla's market capitalization temporarily reached $1 trillion, the sixth company to do so in U.S. history. In 2022, the company led the battery electric vehicle market, with 18% share. As of 2023, it is the world's most valuable automaker. Also in 2023, the company was ranked 69th in the Forbes Global 2000.Tesla has been the subject of lawsuits, government scrutiny, and journalistic criticism, stemming from allegations of whistleblower retaliation, worker rights violations, product defects, and Musk's many controversial statements.
Tesla is being sued in a proposed class action lawsuit for wage law violations in California, with former employees seeking over $5 million in damages. Accusations include failure to pay overtime, provide meal and rest breaks, sick leave, reimburse work expenses, and describe quotas. The company also faces allegations of tolerating race discrimination and harassment, denying wrongdoing. CEO Elon Musk is accused of violating workers' rights by discouraging unionization. Additionally, Tesla is set to go to trial over a lawsuit involving the death of an Apple engineer in a crash involving Tesla's autopilot.
Tesla is seeking shareholder approval for a $45 billion pay deal for its billionaire CEO Elon Musk, which was initially struck down in court due to Musk's influence over the board. Despite the court's decision, Tesla's chairman is urging investors to support the deal and consider moving the company's state of incorporation from Delaware to Texas. The pay package, set in 2018, is aimed at keeping Musk incentivised, who does not receive a salary but is worth an estimated $143 billion.
Some laid-off Tesla workers received new severance offers that included more money and longer coverage of benefits on Thursday night. It continues a tumultuous week for Tesla workers, some of whom missed the layoff email before heading to work on Monday and only realized they were out of a job after a badge scan from security. Others told Business Insider they didn't receive any severance information within the 48 hours Tesla had said to expect it. Tesla CEO Elon Musk appeared to acknowledge the company had initially sent out faulty severance packages. On Wednesday, Musk sent a companywide email to current Tesla employees saying that "some severance packages are incorrectly low" and the company was working to correct the mistake.
Amazon shares hit an all-time high of $187.29 before closing at $185.19, close to their previous record in July 2021. Big Tech earnings season is expected to bring in profits exceeding $90 billion. Rivals like Meta, Microsoft, and Nvidia have also reached record highs recently. Tesla, however, has seen a decline in shares and deliveries. Microsoft is investing in an AI hub in London after deeming Britain unfavorable for investment previously. Analysts predict Amazon's strong performance to continue, with a potential stock price increase to $215.
SAN FRANCISCO (Reuters) -Tesla on Saturday slashed the price of its Full Self-Driving (FSD) driver assistant software to $8,000 from $12,000 in the United States, as CEO Elon Musk reaffirms his commitment to self-driving technology. Musk is betting the technology will become a major source of revenue for the world's most valuable automaker. But he has for years failed to achieve the goal of self-driving capability, with the technology under growing regulatory and legal scrutiny. Earlier this month, Musk said Tesla will unveil its robotaxis on Aug. 8, after Reuters reported Tesla had scrapped its inexpensive, mass-market car in favour of robotaxis.
Shares of U.S. trucking firms, like JB Hunt Transport Services and Knight-Swift Transportation Holdings, fell after reporting dismal quarterly numbers, attributing the decline to reduced transport volumes, global shipping delays, oversupply of trucking capacity, and pressure on freight rates. Analysts express concerns over the prolonged impact on revenue and margins for the remainder of the year. JB Hunt's profit and revenue both missed forecasts, reflecting weak demand and lower earnings. The broader freight market faces challenges due to weak sales and excess truck capacity.
The US House of Representatives passed a bill to potentially ban TikTok in the country or force ByteDance to sell it, with an extended divestment period. Tesla has reduced prices for its Model Y, Model X, and Model S in the US, with the base models now starting at lower prices. Data scientist analyses the best character for Mario Kart.
Tesla has introduced the 2024 Model 3 Performance variant with 510 horsepower, 741 Nm of torque, and a 2.9 second acceleration time from 0-60 mph. This model does not carry the Plaid badge but offers improved power and torque compared to the previous version. It features an active damping system, adaptive suspension, and new sport seats. The updated Model 3 promises better handling, lower energy consumption, and a range of 296 miles on a full charge. Tesla aims to boost demand with this new release amidst recent financial challenges and layoffs.
Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake. Twitter invited Musk to join its board of directors, an offer he initially accepted before declining. On April 14, Musk made an unsolicited offer to purchase the company, to which Twitter's board responded with a "poison pill" strategy to resist a hostile takeover before unanimously accepting Musk's buyout offer of $44 billion on April 25. Musk stated that he planned to introduce new features to the platform, make its algorithms open-source, combat spambot accounts, and promote free speech.In July, Musk announced his intention to terminate the agreement, asserting that Twitter had breached their agreement by refusing to crack down on spambot accounts. The company filed a lawsuit against Musk in the Delaware Court of Chancery shortly thereafter, with a trial scheduled for the week of October 17. Weeks before the trial was set to begin, Musk reversed course, announcing that he would move forward with the acquisition. The deal was closed on October 27, with Musk immediately becoming Twitter's new owner and CEO. Twitter was taken private and merged into a new parent company named X Corp. Musk promptly fired several top executives, including previous CEO Parag Agrawal. Musk has since proposed several reforms to Twitter and laid off half of the company's workforce. Hundreds of employees then resigned from the company after Musk issued an ultimatum demanding they commit to "extremely hardcore" work. Linda Yaccarino was appointed CEO of X Corp. In June 2023, the Twitter service was rebranded as X.Reactions to the buyout were mixed, with praise for Musk's planned reforms and vision for the company, particularly his calls for greater free speech, but criticism over fears of a potential rise in misinformation and disinformation, harassment, and hate speech on the platform. Within the United States, conservatives have largely supported the acquisition, while many liberals and former Twitter employees have voiced concerns about Musk's intentions. Since becoming owner, Musk has faced backlash for his handling of the company and account suspensions, including the December 2022 suspensions of ten journalists.
Tesla is recalling all 3,878 newly manufactured Cybertrucks to fix a defective pedal pad that could cause accelerator pedals to get stuck in the depressed position. The issue originated from using soap as a lubricant during production, leading to the accelerator getting trapped. No injuries or crashes have been reported, and a temporary fix involves installing a rivet on the pad. The recall highlights concerns about the Cybertruck's manufacturing process and potential design flaws, impacting Tesla's stock performance and raising questions about the future of the unique vehicle.
Tesla, Inc., an electric vehicle manufacturer and clean energy company founded in San Carlos, California in 2003 by American entrepreneurs Martin Eberhard and Marc Tarpenning. The company is named after Serbian-American inventor Nikola Tesla. Tesla is the world's leading electric vehicle manufacturer, and, as of the end of 2021, Tesla's cumulative global vehicle sales totaled 2.3 million units.
Tesla CEO Elon Musk is set to visit India and meet with Prime Minister Narendra Modi, with plans to potentially invest $2 billion to $3 billion in building a new Tesla factory in the country. Musk will also meet with Indian space tech startups during his visit. This visit comes after India started the world's largest democratic election, where Modi is expected to secure a rare third consecutive term as prime minister. If the investment in India is confirmed, it would support Modi's aim to establish the country as a key global manufacturing hub.
(Bloomberg) -- Mattel Inc. shares rose in extended trading after the toymaker reported a smaller-than-expected first-quarter loss, benefiting from fast sales of its Hot Wheels miniature cars and lower costs. Most Read from Bloomberg Tesla Stock in No Mans Land After 43% Rout Ahead of Earnings Ray Dalios Famous Trade Is Sputtering, Investors Bailing Billionaire Pinaults Fight to Pull Gucci Off the Discount Rack Mag Seven Roar as Tesla Jumps in Late Hours: Markets Wrap Taylor Swift Is Proof That How We Critique Music Is Broken Shares of the El Segundo, California-based company rose as much as 5.3% to $19.74 after the results were announced.
US stocks, including the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, saw gains as tech-heavy investors awaited Tesla's earnings report. Tesla rose 8% in after-hours trading after hinting at more affordable future models, despite missing first-quarter earnings expectations.
The Tesla Model S is a battery electric executive car with a liftback body style built by Tesla, Inc. since 2012. The Model S features a battery-powered dual-motor, all-wheel drive layout, although earlier versions featured a rear-motor and rear-wheel drive layout.Development of the Model S began prior to 2007, under the codename "WhiteStar". The Model S was officially announced on June 30, 2008, and a prototype vehicle was unveiled in March 2009. The Model S debuted on June 22, 2012. A revised, dual-motor, all-wheel-drive version, known as the 60D, debuted on October 9, 2014. The 60D was followed by the 70D, which made dual-motor and all-wheel drive the standard, followed by the 85D, P85D, and P90D. Along with these updates, Tesla offered the Autopilot driving assistance system. The first major design refresh came in April 2016 when the Model S was updated with a new front hood design. In October of the same year, hardware became standard that supports Tesla's Full Self Driving (FSD) capability. As part of the update, integrated standard cameras around the car were added. In February 2017 the Tesla Model S P100D debuted, which included a revised motor and was the first electric vehicle to have an EPA estimated range exceeding 300 miles (483 km). The second major design refresh, codenamed "Palladium", was introduced in June 2021, offering a new "Plaid" performance model, along with a revised interior, powertrain, and suspension.The Model S became the first electric car to top the monthly new-car-sales ranking in any country, leading twice in Norway, in September and December 2013 and in Denmark in December 2015. Sales passed 250,000 units in September 2018. The Model S was the top-selling plug-in electric car worldwide in 2015 and 2016, although it was later surpassed by the Model 3. Upon its release, the Model S received positive reviews, with praise for its acceleration and range, although initial models received criticism for their high cost and braking issues.
General Motors' first-quarter net income rose over 25% due to strong deliveries of higher-profit vehicles like pickup trucks, with revenue exceeding expectations at over $43 billion. The company's average sales price per vehicle slightly decreased to just under $50,000, but pickup sales remained strong. GM's focus on profitability and expense management led to a better-than-expected performance, prompting a slight increase in full-year net income guidance. Analysts predict earnings of $8.89 per share for the year as shares of the company rose over 5% in early morning trading.
The Tesla Model 3 is a battery electric mid-size sedan with a fastback body style built by Tesla, Inc., first introduced in 2017. It is marketed as being more affordable to more people than previous models made by Tesla. The Model 3 was the world's top selling plug-in electric car for three years, from 2018 to 2020, before being knocked from the top spot by the Tesla Model Y, a crossover SUV based on the Model 3 chassis. In June 2021, the Model 3 became the first electric car to pass global sales of 1 million. In November 2021, new features were added such as a power-operated trunk, heated steering wheel, new center console similar to the Model Y's with two wireless phone chargers, chrome trim replaced with matte black trim, USB-C ports, and a heat pump.An upgraded Model 3 with revamped interior and exterior styling was introduced in late 2023 for countries supplied by Tesla's Shanghai, China factory, and then in North America and other countries supplied by the Fremont, California factory in early 2024.
Tesla's Full Self Driving system price cut by a third, Salesforce abandons Informatica purchase, Verizon's first-quarter revenue misses forecasts, Vista Outdoor in talks for potential sale, AZZ beats fourth-quarter financial forecasts, Zions Bancorp exceeds earnings forecasts, Cardinal Health won't renew contract with OptumRx, and CoStar Group acquires Matterport.
The Tesla Model Y is a battery electric mid-size crossover SUV produced by Tesla, Inc. since 2020. The vehicle was presented in March 2019 as the company's fifth production model since its inception after the Roadster, Model S, Model X and Model 3.After its 2019 introduction, the Model Y started production at the Fremont Factory in California, US in January 2020. Production at Giga Shanghai, China was added in December 2020, and at Giga Texas, US since late 2021. Deliveries from Giga Berlin, Germany started in March 2022.The Model Y is based on the Model 3 sedan, with around 76 percent of parts being shared between the two. While most Model Y are configured with two-row seating, in the US the Model Y offers optional third-row seats for a seven-passenger seating capacity.In 2023, Tesla delivered 1.2 million Model Ys, making it the world's best-selling vehicle that year, surpassing Toyota Corolla and becoming the first electric vehicle to claim that title. With at least 2.16 million units delivered since its start of production up to December 2023, the Model Y is also the most popular electric vehicle of all time.
Elon Reeve Musk (; EE-lon; born June 28, 1971) is a businessman and investor. He is the founder, chairman, CEO, and CTO of SpaceX; angel investor, CEO, product architect, and former chairman of Tesla, Inc.; owner, executive chairman, and CTO of X Corp.; founder of the Boring Company and xAI; co-founder of Neuralink and OpenAI; and president of the Musk Foundation. He is one of the wealthiest people in the world, with an estimated net worth of US$213 billion as of February 2024, according to the Bloomberg Billionaires Index, and $210 billion according to Forbes, primarily from his ownership stakes in Tesla and SpaceX.A member of the wealthy South African Musk family, Elon was born in Pretoria and briefly attended the University of Pretoria before immigrating to Canada at age 18, acquiring citizenship through his Canadian-born mother. Two years later, he matriculated at Queen's University at Kingston in Canada. Musk later transferred to the University of Pennsylvania, and received bachelor's degrees in economics and physics. He moved to California in 1995 to attend Stanford University, but dropped out after two days and, with his brother Kimbal, co-founded online city guide software company Zip2. The startup was acquired by Compaq for $307 million in 1999, and that same year Musk co-founded X.com, a direct bank. X.com merged with Confinity in 2000 to form PayPal.In October 2002, eBay acquired PayPal for $1.5 billion, and that same year, with $100 million of the money he made, Musk founded SpaceX, a spaceflight services company. In 2004, he became an early investor in electric vehicle manufacturer Tesla Motors, Inc. (now Tesla, Inc.). He became its chairman and product architect, assuming the position of CEO in 2008. In 2006, Musk helped create SolarCity, a solar-energy company that was acquired by Tesla in 2016 and became Tesla Energy. In 2013, he proposed a hyperloop high-speed vactrain transportation system. In 2015, he co-founded OpenAI, a nonprofit artificial intelligence research company. The following year, Musk co-founded Neuralink—a neurotechnology company developing brain–computer interfaces—and the Boring Company, a tunnel construction company. In 2022, he acquired Twitter for $44 billion. He subsequently merged the company into newly created X Corp. and rebranded the service as X the following year. In March 2023, he founded xAI, an artificial intelligence company.Musk has expressed views that have made him a polarizing figure. He has been criticized for making unscientific and misleading statements, including COVID-19 misinformation and antisemitic conspiracy theories. His ownership of Twitter has been similarly controversial, being marked by the laying off of a large number of employees, an increase in hate speech and misinformation and disinformation on the website, as well as changes to Twitter Blue verification. In 2018, the U.S. Securities and Exchange Commission (SEC) sued him, alleging that he had falsely announced that he had secured funding for a private takeover of Tesla. To settle the case, Musk stepped down as the chairman of Tesla and paid a $20 million fine.
US stocks, including the S&P 500, Dow Jones Industrial Average, and Nasdaq, bounced back on Monday with gains driven by tech and bank stocks as bond yields stabilized. Notable company news includes Tesla announcing price cuts and 150 S&P 500 companies set to report earnings. The S&P 500 rose 0.9% to surpass 5,000, while the Dow added 0.7% and the Nasdaq jumped 1.1%. Key upcoming earnings to watch include Meta, Microsoft, and Alphabet, with Tesla's quarterly results expected after the market close on Tuesday.
Ohio Senator Sherrod Brown is advocating for a ban on Chinese electric vehicles in the US, citing them as a threat to the American auto industry. President Joe Biden has been urged to consider implementing this ban to prevent Chinese EVs from flooding the US market. Brown's concerns align with those expressed by Tesla CEO Elon Musk regarding the competitiveness of domestic automakers against inexpensive Chinese EVs. The White House is investigating the national security risks associated with Chinese-made cars and the potential collection of sensitive data by these vehicles.
Tesla recalled about 3,878 Cybertrucks due to a gas pedal problem where the pad could slip off, caused by an unapproved change during production using soap. The fix involves drilling a hole in the pedal and securing the pad with a rivet in a 35-second job. Tesla technicians use a pedal rework kit, ensuring precise measurements, and replacing the pedal if necessary. Vehicles in production have been equipped with a new accelerator pedal component, and no injuries related to the issue have been reported. The recall was initiated voluntarily by Tesla following customer claims of the issue.
Elon Musk is set to meet with Indian Prime Minister Narendra Modi to discuss Tesla's potential investment in manufacturing in India and SpaceX's Starlink operation in the country. The meeting highlights the high stakes for both men, with Musk seeking India's permission for SpaceX's Starlink to operate, while PM Modi aims to showcase foreign investment in India and modernization of cities. Starlink is expected to start operating in India in the third quarter of this year, ending a years-long impasse with the Modi administration.
Asian shares gained momentum from Wall Street, with a focus on upcoming earnings reports from major U.S. tech companies. The Japanese yen hit fresh 34-year lows due to a strong dollar. Taiwanese and Hong Kong shares advanced, while Japanese shares edged up. Tech shares in the region performed well, except for Chinese stocks which fell. U.S. tech giants like Tesla, Meta Platforms, Alphabet, and Microsoft are set to announce their earnings this week. Market volatility is expected amidst uncertainties around the Fed's actions and geopolitical tensions in the Middle East.
Tesla most commonly refers to:Nikola Tesla (1856–1943), a Serbian-American electrical engineer and inventorTesla, Inc., an American electric vehicle and clean energy company, formerly Tesla Motors, Inc.Tesla (unit) (symbol: T), the SI-derived unit of magnetic flux densityTesla may also refer to:
(Bloomberg) -- Gold fell as geopolitical tensions eased in the Middle East, paring haven demand, and traders looked ahead to US data that will shed light on the outlook for monetary policy. Most Read from Bloomberg Trump Has Only $6.8 Million for Legal Fees With Trial Underway TikTok to Remove Executive Tasked With Fending Off US Claims China Is Front and Center of Golds Record-Breaking Rally Tesla Spends Weekend Cutting Prices of Cars and FSD Software The Feds Forecasting Method Looks Increasingly Outdated as Bernanke Pitches an Alternative Bullion traded just below $2,364 an ounce after a five-week rally, the longest such streak in more than a year. While Israel and Iran have traded strikes, raising concerns about an all-out-war in the region, Tehran has played down the impact and significance of Israels recent attack. The fact that the Iran regime downplayed Israels response and signaled no retaliation has taken some risk premium out of the market, according to Nicholas Frappell, global head of institutional markets at ABC Refinery in Sydney.
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