Author: admin@primenews

Tesla shareholders have backed a record-breaking pay package for boss Elon Musk and approved a plan to move the firm’s legal headquarters to Texas. The results are a victory for the multi-billionaire, who had campaigned fiercely for the payout, which is worth up to $56bn (£43.9bn) – the exact amount depends on the Tesla share price. “Hot damn, I love you guys,” he told a crowd of enthusiastic shareholders who had gathered in Texas for the firm’s annual meeting. The eye-popping sum had sparked criticism and raised concerns that the board of the company was too submissive and close to…

The US Supreme Court has unanimously rejected an effort to restrict access to the abortion pill mifepristone. The decision, which came two years after the court rescinded the nationwide guarantee to an abortion, was welcomed by pro-choice activists. The justices decided the plaintiffs, a group of anti-abortion doctors and activists, did not have a legal right to sue. But they left the door open to other attempts to limit the availability of the drug. Mifepristone is one of two drugs used in a medication abortion, now the most common method of terminating pregnancies in the US. The plaintiffs, known as…

The G7 has agreed to use frozen Russian assets to raise $50bn (£39bn) for Ukraine to help it fight invading Russian forces. US President Joe Biden said it was another reminder to Russia “that we’re not backing down”, but Moscow has threatened “extremely painful” retaliatory measures. The money is not expected to arrive until the end of the year but is seen as a longer-term solution to support Ukraine’s war effort and economy. Also at the G7 summit in Italy, Ukrainian President Volodymyr Zelensky and Mr Biden signed a 10-year bilateral security deal between Ukraine and the US, hailed by…

The White House has declined to rule out President Joe Biden commuting any criminal sentence for his son, a day after Hunter Biden was convicted in a federal gun trial. When asked about a commutation, White House spokeswoman Karine Jean-Pierre told reporters she did not “have anything [to share] beyond” what the president had already said about the case. A Delaware jury on Tuesday found Hunter Biden guilty of lying about his drug use when buying a revolver in 2018. Ms Jean-Pierre, who emphasised she had not spoken to the president about commutation, instead pointed to an interview from last…

Airports have criticised the government’s sudden re-introduction of 100ml limits on liquids in hand luggage last weekend. The Airport Operators Association (AOA) said it had left airports “frustrated” and created uncertainty and confusion for passengers as the busiest time of year approached. After installing high-tech new scanning equipment, some regional airports had scrapped liquid restrictions. Major hubs had not yet switched to the new rules, but are rolling out the machines. The transport secretary has insisted the re-imposition of the old limits is “temporary’” but it’s unclear how long the situation will last. The government requires all UK airports to…

Chinese electric cars may become pricier in the European Union (EU) after politicians called them a threat to its own industry. It has “provisionally concluded” that Chinese electric vehicle (EV) manufacturers will face tariffs from 4 July “should discussions with Chinese authorities not lead to an effective solution”. The EU’s announcement comes as it continues an investigation into what it claims is a flood of cheap, government-subsidised Chinese cars into the trade bloc. China alleged the tariffs violated international trade rules and described the investigation as “protectionism”. EV makers who co-operated with the investigation, which the EU’s governing European Commission…

Consumer price rises in the US eased slightly last month, official data has suggested, ahead of a decision to maintain interest rate levels at a 23-year high. According to the US Labor department, prices rose 3.3% in the year to the end of May, down 0.1 percentage points from the month before. Core inflation, which strips out more volatile items like food and energy prices, also slowed despite rents continuing to weigh on household budgets. Despite borrowing costs standing at their highest rate in years, officials at the Federal Reserve held off on any interest rate cuts this month. The…

The US has broadened its sanctions on Russia, including a fresh crackdown on banks dealing with sanctioned entities. It expands a December programme to sanction foreign banks deemed to be aiding Russia’s war effort in Ukraine. The US also placed sanctions on the Moscow stock exchange, leading to it halting trading in dollars and euros. It also moved to try to restrict Russia’s use of technology, including chips and software. US President Joe Biden signed an executive order in December that imposed sanctions on banks dealing with about 1,200 individuals and companies deemed to be helping Russia’s war machine. Those…

The US military says a Greek-owned ship in the Red Sea has been hit by an unmanned surface vessel launched by the Houthis in Yemen, causing severe flooding and damage to the engine room. The Royal Navy’s UK’s Maritime Trade Operations (UKMTO) office said it received reports of a ship being struck on the stern about 66 nautical miles southwest of the rebel-held port of Hodeida in Yemen on Wednesday. The vessel was taking on water, and not under the command of the crew, UKMTO stated. No casualties were reported. The Iranian-backed Houthis claimed responsibility for the attack, saying it…

Tesla boss Elon Musk has said shareholder votes on his multi-billion dollar pay package and a plan to move the firm’s legal headquarters to Texas are “currently passing by wide margins!” Tesla shareholders have been voting on several proposals, including one that could confirm a pay deal for Mr Musk, that was worth $56bn (£43.8bn) when it was first agreed in 2018. Tesla did not immediately respond to a request for comment from BBC News. The company is due to make an official announcement on the result of the vote at a meeting on Thursday. In a post on social…