The past week has been a whirlwind of news, with developments spanning from the White House to the world of cryptocurrency. Here’s a quick recap of the top stories you might have missed.
US Readies New Nuclear Bomb
The Department of Defense (DoD) announced its plans to develop a new variant of the B61 gravity bomb, a weapon first produced amid Cold War tensions in the 1960s. This move signals a resurgence in the US’s nuclear weapons production, which had largely remained stagnant since the Cold War's end. Read the full article here.
Hertz Hit by Tesla EV Costs
Meanwhile, Hertz Global Holdings Inc (NASDAQ:HTZ) disclosed during its third quarter earnings call that the costs associated with Tesla EVs, particularly in terms of collision and damage repair, have negatively impacted the company’s EBITDA. The company’s CEO, Stephen Scherr, elaborated that the declining MSRP of EVs in 2023, primarily driven by Tesla, led to a significant loss when a car is salvaged. Read the full article here.
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