The Facebook whistle-blower takes her case abroad. Frances Haugen, who testified at a Senate hearing on Tuesday, has also spoken with policymakers in Brussels, London and Paris about the need for more oversight of the social media giant. Facebook is slowing product upgrades amid the scrutiny, as well as limiting how much information is shared within the company.
Tesla faces a boardroom challenge at its annual shareholder meeting. At the electric-vehicle maker’s gathering today, which comes shortly after reporting record deliveries, some investors are trying to oust two directors: the former Fox executive James Murdoch; and Kimbal Musk, the brother of Tesla’s chief, Elon Musk.
Moderna plans to build a vaccine factory in Africa. The pharma firm said that it would invest $500 million in the plant, in a location not yet decided, where it will make up to 500 million doses a year of mRNA vaccines, including its coronavirus shot. Separately, Asian countries have joined the U.S. in making deals with Merck for supplies of the antiviral pill that the company says cuts risk of hospitalization and death from Covid.
G.M. thinks big
General Motors announced an ambitious plan yesterday to more than double its revenue by 2030. The target is based on investments G.M. has made in electric vehicles and self-driving technology, as well as on its push into services, like auto insurance. It also reflects the grand ambition of Mary Barra, the C.E.O., to transform G.M. and defend its business from the tech companies that have been trying to outmaneuver it.
“Think about the vehicle not only as an electric vehicle, but as a software platform,” Barra said, sounding a lot more like Steve Jobs than the G.M. legend Alfred Sloan. To that end, the automakers’s plan includes:
30 models of electric vehicles by 2025, including a $30,000 S.U.V.; a glass roofed, all-wheel-drive Chevrolet Silverado pickup; and a plug-in Hummer.
An expansion of services, including an electric-van delivery service called Brightdrop; Cruise, an Uber rival that uses autonomous driving; and in-car subscription services, like OnStar, that it projects to bring in tens of billions of dollars by the end of the decade.
By the numbers: Barra’s time at the top of G.M. has generally been seen as successful. She took over in 2013, steered the company through an ignition scandal, and nearly doubled profits in her first four years at the helm — though that growth came through cost controls, not increased revenue. The company’s stock has risen more than 30 percent this year, nearly double the gain in the S&P 500 but about half the rise in Ford’s shares over the same period.