U.S. Government Accuses Two Men of Stealing Tesla Trade Secrets
Welcome back to Squawk Box! The United States government is accusing two men of stealing Tesla trade secrets. One of the two men is being held in New York without bail after meeting with undercover agents on Long Island and attempting to sell them technology used to produce Tesla batteries.
The Allegations
Both men are former employees of a Canadian battery producer that Tesla acquired in 2019. Prosecutors say that they had access to drawings and other documents that allowed others to copy the manufacturing process.
Boeing Finance Update
Boeing CFO will give a business update at the Bank of America Industrials conference. Stay tuned for highlights from the update and insights from BFA’s Aerospace analyst, Ron Epstein.
Current Market Trend
Boeing shares are down by 2.4% this morning. Before we head to a break, let’s take a look at yesterday’s S&P 500 winners and losers.
Hot Take
Theft of trade secrets poses a serious threat to businesses. It is crucial to protect intellectual property to maintain a competitive edge in the market. Stay vigilant and ensure robust security measures to safeguard your company’s valuable assets.
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