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Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would move up production of new, more affordable vehicles.

NEW YORK (AP) — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and so drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website.

The House passed legislation Saturday that would ban TikTok in the United States if the popular social media platform's China-based owner doesn’t sell its stake within a year, but don't expect the app to go away anytime soon.

Tesla's stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers.

AUSTIN, Texas (AP) — Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker’s corporate home from Delaware to Texas.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.

HONG KONG (AP) — China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted.

DETROIT (AP) — The U.S. government's auto safety agency has opened an investigation into a Ford recall for gasoline leaks from cracked fuel injectors that can cause engine fires, saying in documents that the remedy doesn't fix the leaks.

DETROIT (AP) — The driver of a Ford electric SUV involved in a February fatal crash in Texas was using the company's partially automated driving system before the wreck, federal investigators said Thursday.

Four railroads have asked federal appeals courts to throw out a new rule that would require two-person train crews in most circumstances, saying the mandate is arbitrary, capricious and an illegal abuse of discretion.

NEW YORK (AP) — There are a few tax tips parents of children 17 and under should keep in mind before filing, tax pros say.

WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week as the labor market continues to thrive despite the Federal Reserve's efforts to cool it. The Labor Department reported Thursday that filings for unemployment claims for the week ending April 6 fell by 11,000 to 211,000 from the previous week’s 222,000.

WASHINGTON (AP) — U.S. producer prices rose in March from a year earlier at the fastest pace in nearly a year. 

NEW YORK (AP) — Much like nutritional labels on food products, “broadband labels” for internet packages will soon tell you just what is going into the pricing of your service, thanks to new rules adopted by the Federal Communications Commission this week.

US inflation up again in March

WASHINGTON (AP) — Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year.

Delta Air Lines eked out a narrow first-quarter profit and said Wednesday that demand for travel is strong heading into the summer vacation season, with travelers seemingly unfazed by recent incidents in the industry that ranged from a panel blowing off a jetliner midflight flight to a tire falling off another plane during takeoff.

Norfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement related to a fiery train derailment in February 2023 in eastern Ohio.

WILMINGTON, Del. (AP) — The Biden administration pledged on Monday to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time.

BEIJING (AP) — The Biden administration will push China to change an industrial policy that poses a threat to U.S. jobs, Treasury Secretary Janet Yellen said Monday after wrapping up four days of talks with Chinese officials. She also said in Beijing they had “difficult conversations” about national security, including American concerns that Chinese companies are supporting Russia in its war in Ukraine.

WASHINGTON (AP) — America’s employers delivered another outpouring of jobs in March, adding 303,000 workers to their payrolls. Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 economists had forecast.

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose modestly this week, holding below 7%. When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they can afford in a market already out of reach for many Americans.

WASHINGTON (AP) — The maker of a drug for Lou Gehrig’s disease that recently failed in a large study said Thursday it will pull the medicine from the market, acknowledging it didn't help patients with the deadly neurological condition.

The largest producer of fresh eggs in the U.S. said Tuesday it had temporarily halted production at a Texas plant after bird flu was found in chickens, and officials said the virus had also been detected at a poultry facility in Michigan.

WASHINGTON (AP) — U.S. job openings barely changed in February, staying at historically high levels in a sign that the American job market remains strong. The Labor Department reported Tuesday that employers posted 8.76 million job vacancies in February, up modestly from 8.75 million in January and about what economists had forecast.

NEW YORK (AP) — Tax season can come with several headaches, from gathering documents to finding the time to sit down and file. But one pain that you want to avoid is falling for a tax scam. Year-round, scammers look for ways to trick people into giving them money or personal information. There are several common types of scams during tax season, so people should be on the lookout for red flags, said Amy Nofziger, director of victim support at the AARP Fraud Watch Network.

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