Tausi Insider

The French and U.S. flags adorn the Eisenhower Executive Office Building next to the White House for the state visit of French President Emmanuel Macron in Washington on Nov. 29. LUDOVIC MARIN/AFP/Getty Images The City of Light is looking somewhat less brilliant this holiday season as Parisian streets and monuments lower the wattage on Christmas bulbs and switch them off earlier than usual to conserve energy and set an example for French consumers. Historically a net exporter of electricity to its European neighbours, France has become a net importer of power this year as a record number of its nuclear reactors simultaneously undergo shutdowns for maintenance. The timing could not be worse, with European energy prices skyrocketing since Russia’s invasion of Ukraine. The French government, which caps electricity rates for consumers, is hence shelling out tens of billions of euros this year and next to subsidize power imports. This is just one of the gripes French President Emmanuel Ma...

Tesla Inc TSLA-Q has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker’s strategy over the last two years when new vehicle orders exceeded supply. It comes after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain growth at the expense of profit. Musk acknowledged last year that prices had become “embarrassingly high” and could hurt demand. Shares ended down 0.9% after falling as much as 6.4% on Friday. Last year, Tesla stock had its worst year since the company’s inception due to slowing growth in China and Musk’s distraction with Twitter. Tesla lowered prices across the United States, Europe, the Middle East and Africa, following a series of cuts last week in Asia, in what analysts saw as a clear shot at both smaller rivals that have bee...