Tesla has finally unveiled its long-awaited Roadster, nearly a decade after the company first announced the next-generation electric sports car. The prototype showcased impressive capabilities during a livestreamed event in Texas, including clinging to a ramp upside down, flipping in mid-air, and hovering above the ground. Despite the excitement among Elon Musk fans, the Roadster is expected to be a high-end, low-volume model. Musk stated that production would begin in 2028 but did not disclose the price. He also noted that the Roadster would be Tesla's last vehicle intended to be controlled by a human driver.
The producer price index released Thursday recorded its highest monthly and annual increases since 2022, driven by energy costs amid the Iran war. The data suggests the Federal Reserve has more work to combat inflation, with economists expecting the core personal consumption expenditures price index to rise later this month. Fed Chairman Kevin Warsh avoided signaling any rate hikes before the year's end, indicating the central bank is likely to hold rates steady at its next meeting.
Apple and Meta have announced a collaboration allowing developers to run Meta's new open-weight AI model, Muse Spark, locally on Apple's pricier Mac models. The partnership marks a shift in Silicon Valley alliances, with both companies promoting the collaboration on social media. Representatives from both companies declined to comment on whether this could lead to a broader relationship.
Nike is looking to India for a business boost, announcing the creation of a new global campus in Bengaluru. CEO Elliott Hill described the facility as a long-term investment in an important growth market and manufacturing hub. The move comes as Nike struggles in China and faces a quarters-long slump in business overall.