Business news digest - October 22
META•A judge reportedly ordered Meta to pay New Mexico $25 billion; Musk said SpaceX and Tesla were exploring a merger; the U.S. plans to tap heating-oil reserves; and GM said AI could halve vehicle design time to as little as two years.
1. Meta penalty
A New Mexico judge reportedly ordered Meta Platforms to pay the state $25 billion after a jury found the company had misled consumers about the privacy of their data. The article described it as one of the largest financial penalties in U.S. history.
2. Musk and energy
Elon Musk said SpaceX and Tesla were exploring a merger that would combine his interests in rockets, electric cars and artificial intelligence. The United States said it would tap strategic reserves to help ease the energy crunch as heating-oil prices soar.
3. GM vehicle design
General Motors said it was starting to use AI to halve the time needed to design a new vehicle, to as little as two years.
