Jon McNeill is walking through Manhattan’s Clement Clarke Moore Park, recalling the exact day when he’d had enough of working for Elon Musk . It was the end of a bruising 2017, in which Tesla Inc. was stumbling over its effort to release the Model 3 and, in particular, failing to get robots to build them . McNeill, who was the company’s president, and his deputies stood side by side with Musk on t...
Jon McNeill is walking through Manhattan’s Clement Clarke Moore Park, recalling the exact day when he’d had enough of working for Elon Musk . It was the end of a bruising 2017, in which Tesla Inc. was stumbling over its effort to release the Model 3 and, in particular, failing to get robots to build them . McNeill, who was the company’s president, and his deputies stood side by side with Musk on the assembly line figuring out how to reconstruct it. The whole process took eight months, and the car was late, but they eventually got it done . Tesla’s revenue soared; the stock price did too. To celebrate and unwind, McNeill took his wife and two kids on vacation to Vermont, expecting a relaxing week of skiing. Instead he walked into an intervention: His family sat him down and told him he’d been a jerk. Dealing with Musk’s extreme mood swings, McNeill says, had ground him down. When he wasn’t trying to shield managers from the billionaire’s tirades, he recalls, he’d be peeling his boss off the floor of a dark conference room in a near-catatonic state. (Musk, who has self-reported symptoms of bipolar disorder , famously slept on the factory floor at times while pushing Tesla through what he called “production hell.”) “I choked up,” McNeill says, unfailingly polite and with the bearing of a college professor. “Mean is the last thing that I ever want to be.” When he got back to work after the winter break, he told Musk he was done. “I said, ‘Look, I love you, and I love this business, and I love this job.’” He recalls they were both in tears. “I said, ‘I can’t do this anymore. You gotta get help.’” (Musk didn’t respond to a request for comment.) Managing the chaos of Musk, who McNeill still considers a friend and mentor, established his reputation as a corporate fixer. It also helped propel him on a journey that makes him something of a Forrest Gump of American business. Strolling through the early spring chill, McNeill, 58, discusses his trajectory, including his start wo...
Jon McNeill is walking through Manhattan’s Clement Clarke Moore Park, recalling the exact day when he’d had enough of working for Elon Musk . It was the end of a bruising 2017, in which Tesla Inc. was stumbling over its effort to release the Model 3 and, in particular, failing to get robots to build them . McNeill, who was the company’s president, and his deputies stood side by side with Musk on t...
Jon McNeill is walking through Manhattan’s Clement Clarke Moore Park, recalling the exact day when he’d had enough of working for Elon Musk . It was the end of a bruising 2017, in which Tesla Inc. was stumbling over its effort to release the Model 3 and, in particular, failing to get robots to build them . McNeill, who was the company’s president, and his deputies stood side by side with Musk on the assembly line figuring out how to reconstruct it. The whole process took eight months, and the car was late, but they eventually got it done . Tesla’s revenue soared; the stock price did too. To celebrate and unwind, McNeill took his wife and two kids on vacation to Vermont, expecting a relaxing week of skiing. Instead he walked into an intervention: His family sat him down and told him he’d been a jerk. Dealing with Musk’s extreme mood swings, McNeill says, had ground him down. When he wasn’t trying to shield managers from the billionaire’s tirades, he recalls, he’d be peeling his boss off the floor of a dark conference room in a near-catatonic state. (Musk, who has self-reported symptoms of bipolar disorder , famously slept on the factory floor at times while pushing Tesla through what he called “production hell.”) “I choked up,” McNeill says, unfailingly polite and with the bearing of a college professor. “Mean is the last thing that I ever want to be.” When he got back to work after the winter break, he told Musk he was done. “I said, ‘Look, I love you, and I love this business, and I love this job.’” He recalls they were both in tears. “I said, ‘I can’t do this anymore. You gotta get help.’” (Musk didn’t respond to a request for comment.) Managing the chaos of Musk, who McNeill still considers a friend and mentor, established his reputation as a corporate fixer. It also helped propel him on a journey that makes him something of a Forrest Gump of American business. Strolling through the early spring chill, McNeill, 58, discusses his trajectory, including his start wo...
Michael M. Santiago/Getty Images News Anthropic ( ANTHRO ) is working to contain the fallout after accidentally revealing the underlying instructions it uses to direct its AI agent app Claude Code, The Wall Street Journal reported. By Wednesday morning, Anthropic representatives had used a copyright takedown request to remove over 8,000 copies and adaptations of the raw Claude Code instructions — ...
Michael M. Santiago/Getty Images News Anthropic ( ANTHRO ) is working to contain the fallout after accidentally revealing the underlying instructions it uses to direct its AI agent app Claude Code, The Wall Street Journal reported. By Wednesday morning, Anthropic representatives had used a copyright takedown request to remove over 8,000 copies and adaptations of the raw Claude Code instructions — known as source code — that developers had shared on programming platform GitHub, the report added . The AI tech giant later narrowed its takedown request to cover only 96 copies and adaptations, saying its initial ask had reached more GitHub accounts than intended, the report noted. Anthropic did not immediately respond to a request for comment from Seeking Alpha. A spokesperson for Anthropic noted that the leak of "some internal source code" didn’t expose any customer information or data. It also did not divulge the valuable inner mathematics — sometimes called weights — of the company’s expensive and powerful AI models, according to the report. "This was a release packaging issue caused by human error, not a security breach. We’re rolling out measures to prevent this from happening again," said the spokesperson. However, the leak did reveal commercially sensitive information, including Anthropic's proprietary techniques, tools, and instructions for enabling its AI models to work as coding agents. Those techniques and tools are called a harness because they are what allow users to control and direct those models, the report noted. The result is that Anthropic’s rivals and several startups and developers now have a road map to clone Claude Code’s features without needing to reverse engineer them, something that is already common, the report added. The Claude Code information was accidentally disclosed on Tuesday when the company updated the AI tool. Like most proprietary software, Claude’s source code is usually difficult to reverse engineer. However, this time, the compan...
NASA's Artemis II crew has successfully launched on a mission that will take it around the moon and back to Earth. Here's what to expect over their roughly 10-day journey. (Image credit: Bill Ingalls)
NASA's Artemis II crew has successfully launched on a mission that will take it around the moon and back to Earth. Here's what to expect over their roughly 10-day journey. (Image credit: Bill Ingalls)
It has been a year since President Trump announced double-digit tariffs on imports from around the world. So far, those levies have not produced the economic boom the president promised. (Image credit: Chip Somodevilla)
It has been a year since President Trump announced double-digit tariffs on imports from around the world. So far, those levies have not produced the economic boom the president promised. (Image credit: Chip Somodevilla)
Foreclosures on VA loans are at their highest level in a decade. VA has a fix but it is months away and could still leave vets worse off than most other homeowners. (Image credit: Margaret Albaugh for NPR)
Foreclosures on VA loans are at their highest level in a decade. VA has a fix but it is months away and could still leave vets worse off than most other homeowners. (Image credit: Margaret Albaugh for NPR)
Banks should prepare to tap regular loan offers by the European Central Bank as quantitative tightening proceeds and liquidity sloshing around the financial system shrinks, according to a blog post published Thursday. The post cites an annual survey of bank treasurers showing lenders representing a quarter of euro-area banking assets operate close to their preferred level of reserves — as opposed ...
Banks should prepare to tap regular loan offers by the European Central Bank as quantitative tightening proceeds and liquidity sloshing around the financial system shrinks, according to a blog post published Thursday. The post cites an annual survey of bank treasurers showing lenders representing a quarter of euro-area banking assets operate close to their preferred level of reserves — as opposed to enjoying an abundance — up from 15% a year earlier. That share is set to climb to 50% by year-end. “As reserves continue to decline, it will be important for banks to be ready to use Eurosystem operations as routine tools to manage their liquidity and to support market-making,” economists Vagia Iskaki , Tobias Linzert, and Yannik Schneider, Marta Skrzypinska and Olivier Vergote wrote. After years of crisis-fighting that involved long-term lending and large-scale asset purchases, the ECB is preparing a transition to a regime where reserves are primarily defined by banks’ needs. Excess liquidity peaked at €4.7 trillion ($5.4 trillion) in late 2022 and has since halved after loans expired and reinvestments of maturing bonds stopped. While recourse to the ECB’s standard weekly and three-months operations has remained low, the number of bidders has gradually increased. Executive Board member Isabel Schnabel has been among officials encouraging banks to use such offers routinely. In the blog post, the economists also studied money markets and found that reserves are redistributed smoothly across banks and euro-area countries, without any signs of fragmentation. Banks closest to their preferred reserve levels borrow the most in the short-term repo markets relative to their reserves, the authors wrote. While short-term market rates remain near the ECB’s deposit rate of 2%, any future upward moves — especially in the term segment where banks borrow and lend for longer than 30 calendar days — could be an “early indicator of changing system-wide liquidity needs and as a benchmark f...
Mayzee Davies returns to the Wales squad for this month's World Cup qualifiers against Albania but there is no place for injured goalkeeper Olivia Clark.
Mayzee Davies returns to the Wales squad for this month's World Cup qualifiers against Albania but there is no place for injured goalkeeper Olivia Clark.
Solar Installations Fell 22% In 2025 By Diana DiGangi of UtilityDive , Solar developers installed 26.5 GW last year, down 22% from the 33.8 GW they installed in 2024, according to the Federal Energy Regulatory Commission (FERC). The decline in solar installations took place despite the ongoing rush to bring projects online in order to qualify for the Inflation Reduction Act tax credits, which had ...
Solar Installations Fell 22% In 2025 By Diana DiGangi of UtilityDive , Solar developers installed 26.5 GW last year, down 22% from the 33.8 GW they installed in 2024, according to the Federal Energy Regulatory Commission (FERC). The decline in solar installations took place despite the ongoing rush to bring projects online in order to qualify for the Inflation Reduction Act tax credits, which had their timelines curtailed by the One Big Beautiful Bill Act. Despite this decrease, solar still led all other generation sources in 2025 installations. As of December, solar now makes up 12.2% of installed generating capacity in the U.S., according to FERC — trailing only natural gas, at 42.2%, and coal, at 14.3%. SEIA noted that in the first three quarters of 2025, solar installations remained largely the same year over year, “but in the fourth quarter, volumes fell by nearly 40% year-over-year. By the end of 2025, installations totaled just under 35 GW as many utility-scale projects were delayed into 2026 and 2027.” “As developers shifted their focus towards safe harbor strategies, there was less urgency to bring late-stage projects online by year end,” SEIA said. “This weakened fourth quarter deployment but created a more robust near-term pipeline for 2026 and 2027.” FERC’s data shows that natural gas added fewer units in 2025 — 84, compared with to 122 the previous year — despite a 1.5 GW increase in installed capacity. Wind capacity also grew as developers added 5.7 GW in 2025 compared with 4.5 GW the previous year. No new nuclear capacity came online in 2025. U.S. nuclear capacity increased 1.1 GW in 2024, when Plant Vogtle Unit 4 came online in April that year. In 2025, the U.S. solar industry “ navigated unprecedented change, ranging from numerous trade actions to the reversal of renewable energy tax credit policy,” the Solar Energy Industries Association said in a March 9 report. “ Many projects stayed on track, but the market and policy uncertainty took a toll, le...
Renewable energy developer Neoen will build France’s largest battery, helping to store rising solar and wind generation and ease strain on the country’s grid. Construction of the 248-megawatt battery — which will have 496 megawatt-hours of capacity — is scheduled to begin this summer, with operation expected in 2028, Neoen, controlled by Brookfield Asset Management , said in a statement . Japan’s ...
Renewable energy developer Neoen will build France’s largest battery, helping to store rising solar and wind generation and ease strain on the country’s grid. Construction of the 248-megawatt battery — which will have 496 megawatt-hours of capacity — is scheduled to begin this summer, with operation expected in 2028, Neoen, controlled by Brookfield Asset Management , said in a statement . Japan’s Nidec will assemble the battery packs in France. Demand for battery storage is growing in France, and other parts of Europe, as power gluts become increasingly frequent due more solar and wind generation that can exceed demand during parts of the day. That’s leading to curbs in French nuclear and renewable output, making grid balancing more challenging, and causing big swings in prices — including to below zero. The new battery will provide frequency and voltage regulation services to the French grid and help relieve congestion of the network in the Paris region, according to the statement Installed battery storage in France rose 35% last year 1.61 gigawatts, according to grid operator RTE data . EDF Warns Solar, Wind Surge Straining Nuclear Fleet Costs French Grid Operator Sees Power Oversupply Lasting Years Energy Traders Bet On Batteries to Harness Negative Prices
Damage caused by the US’s war against Iran will continue to have a negative impact on the global economy even if hostilities end soon, according to European Central Bank Governing Council member Fabio Panetta . “The ongoing conflict is already causing unprecedented disruptions in global energy supply chains and its spread to the Gulf countries has forced some of them to suspend hydrocarbon product...
Damage caused by the US’s war against Iran will continue to have a negative impact on the global economy even if hostilities end soon, according to European Central Bank Governing Council member Fabio Panetta . “The ongoing conflict is already causing unprecedented disruptions in global energy supply chains and its spread to the Gulf countries has forced some of them to suspend hydrocarbon production, with immediate and potentially lasting effects on international markets,” said Panetta, who also heads the Bank of Italy. “Even assuming a rapid stop to hostilities, the return to normal production would be slow,” he said Thursday in Rome. The conflict launched on Feb. 28 by the US and Israel has sowed anxiety over how badly spiraling energy costs will drive inflation and weigh on economic expansion. Panetta joined other ECB officials in warning that the base scenario for fallout in Europe may no longer hold. “The ECB’s macroeconomic projections, released two weeks ago, already included two adverse scenarios, which are now more likely than they were at the time of publication,” he said. “In the second, more severe scenario, damage to infrastructure would delay the recovery until 2027.” Irish central banker Gabriel Makhlouf said this week that a lengthy war would steer the euro-area economy toward a worse outcome than the base case. His Slovenian counterpart Primoz Dolenc said the adverse scenario was likely to become the new baseline. ECB’s Makhlouf Says Prolonged War Brings Adverse Scenario Closer ECB’s Muller Says Probable Rates Will Rise in Coming Quarters ECB Shouldn’t Rush Iran Response or Overreact, Schnabel Says
Some of the world’s biggest hedge funds known for delivering steady returns lost money in March as the war in the Middle East roiled markets across energy, bonds and equities and forced traders to unwind crowded positions. Multistrategy hedge funds ranging from ExodusPoint Capital Management to Balyasny Asset Management and Millennium Management posted declines, giving up all or part of their gain...
Some of the world’s biggest hedge funds known for delivering steady returns lost money in March as the war in the Middle East roiled markets across energy, bonds and equities and forced traders to unwind crowded positions. Multistrategy hedge funds ranging from ExodusPoint Capital Management to Balyasny Asset Management and Millennium Management posted declines, giving up all or part of their gains from the prior two months, according to people with knowledge of the matter who asked not to be identified because the details are private. There were, however, some notable winners such as Kepos Capital ’s Alpha fund and Swiss firm ADAPT Investment Managers . The escalating conflict that choked off shipping traffic through the crucial Strait of Hormuz sent oil prices surging, while fears over inflation upended interest rate expectations and triggered a bond selloff. Earlier in March, JPMorgan Chase & Co. strategists said hedge funds experienced their biggest drawdown since the Liberation Day tariff turmoil, with commodity trading advisers hit by their worst stretch in almost a year and equity long-short funds posting heavy losses due to overweight positions in European stocks. Here are estimated returns for some hedge funds: Kepos Alpha Systematic Macro 7.5% 9.3% ADAPT* Relative Value 4.1 8.3 Winton Multistrategy 0.3 6.7 Centiva Multistrategy 0.1 3.9 Schonfeld Fundamental Equity Multimanager equity 0 1.6 Schonfeld Strategic Partners Multistrategy 0 0.9 Kite Lake Special Opportunities Event-Driven -0.1 2.5 Modular Asian Macro Macro -0.5 2.9 North Rock Multimanager - Equities -0.7 2.1 Millennium Multistrategy -1.2 1 Walleye Multistrategy -1.3 -2.6 Man Strategies 1783 Multistrategy -1.6 4.2 Brummer Multi-Strategy Multistrategy -1.9 4.3 LMR Multistrategy -2.4 -0.3 Pinpoint Multi-Strategy Multistrategy -2.5 4.0 Dymon Multistrategy -4.3 6.0 Balyasny Multistrategy -4.3 -3.8 ExodusPoint Multistrategy -4.5 -2 Coatue Equity -4.8 -3.5 FengHe Asia Equity Long/Short -5.3 11.5 Pharo M...