Housing, jobs and free calls: How businesses are supporting Afghan refugees

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4 years ago

August 27, 2021

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In this article

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Afghan refugees are led to a bus taking them to a refugee processing center upon arrival at Dulles International Airport in Dulles, Virginia August 25, 2021.

Kevin Lamarque | Reuters

Businesses are rushing to support the thousands of refugees that have been evacuated from Afghanistan in recent days who are now faced with the difficult task of building a new life in an unfamiliar country.

Airbnb, Verizon, Walmart and Texas Medical Technology are among those who have offered to help the 100,000 plus people to have fled the country to the U.S. after Kabul fell to the Taliban on Aug. 15.

On Tuesday, Airbnb CEO Brian Chesky said the company is planning to temporarily house 20,000 refugees around the world free of charge.

Refugees will be housed in properties listed on Airbnb’s platform and the stays will be funded by Airbnb, Chesky said on Twitter, without specifying exactly how much the company plans to spend on the commitment or how long refugees will be housed for.

Airbnb on Thursday invited non-hosts to help through its dedicated website for emergency housing that allows property owners to offer up any available space for free or at a discount. Airbnb is urging those that don’t have any available space to donate money to support housing efforts.

While access to housing is essential, many refugees will need to find jobs in their new countries to become financially independent.

Texas Medical Technology, a supplier and distributor of medical equipment, said it plans to hire 100 Afghan refugees within a year at a 144,000-square-foot manufacturing facility in Houston.

It hopes to have employed 10 Afghan refugees by the end of the month.

Free calls to Afghanistan

Then there’s keeping in contact with friends and family who are still in Afghanistan, which will be of vital importance to some in the immediate future.

Verizon on Tuesday said it plans to waive charges for calls from its consumer, business and residential landline customers to Afghanistan up until Sep. 6.

“During this time of need, customers need to stay connected with loved ones in Afghanistan,” said Ronan Dunne, executive vice president and CEO of Verizon Consumer Group for Verizon. “Waiving these kinds of calling charges will help them focus on what matters: communicating with family and friends.”

The telco is also inviting customers to donate $10 to the International Rescue Committee by texting RESCUE to 25383.

Mental health support

The mental health toll on Afghan refugees could be huge.

Hims & Hers, a telehealth platform that connects people to licensed healthcare professionals, said Wednesday that it is planning to do 10,000 mental health calls with Afghan refugees.

“With a mission to provide access to high-quality, convenient and affordable medical care and personalized treatment plans and solutions, we feel a moral responsibility to act — and fast,” the company said in a blog post on the Hims & Hers website.

Dental kits

Byte said it is planning to donate at least 25,000 oral care kits to Afghan refugees being resettled in the U.S. and elsewhere. Neeraj Gunsagar, the company’s CEO, said he believes it’s a moral obligation and in the national interest of the U.S. to help the refugees in this crisis.

Instead of offering direct support, some firms are donating money to charities. Discount retailer Walmart, for example, is donating $1 million to groups helping Afghan refugees in the U.S. through its philanthropic arm.

Thousands are still trying to flee Afghanistan ahead of President Joe Biden’s Aug. 31 deadline, and there are concerns many who want to leave the country won’t be able to.

The Pentagon on Sunday said it called up 18 civilian aircraft from United Airlines, American Airlines and Delta Air Lines, among others, to help carry those stationed at temporary locations after they landed on flights from Afghanistan.

Technology

Tesla short sellers have made $11.5 billion from this year’s selloff

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2 hours ago

April 22, 2025

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Tesla short sellers have made .5 billion from this year's selloff

It’s been a brutal year for Tesla shareholders so far, and a hugely profitable one for short sellers, who bet on a decline in the company’s stock price.

Tesla shorts have generated $11.5 billion in mark-to-market profits in 2025, according to data from S3 Partners. The data reflected Monday’s closing price of $227.50, at which point Tesla shares were down 44% for the year.

The stock rallied about 4% on Tuesday, along with gains in the broader market, heading into Tesla’s first-quarter earnings report after the close of trading. Tesla didn’t immediately respond to a request for comment.

The electric vehicle maker is expected to report a slight decline in year-over-year revenue weeks after announcing a 13% drop in vehicle deliveries for the quarter. With CEO Elon Musk playing a central role in President Donald Trump’s administration, responsible for dramatically cutting the size and capacity of the federal government, Tesla has faced widespread protests in the U.S. and Europe, where Musk has actively supported Germany’s far-right AfD party.

Tesla shares plummeted 36% in the first quarter, their worst performance for any period since 2022, and have continued to drop in April, largely on concerns that President Trump’s sweeping tariffs on top trade partners will increase the cost of parts and materials crucial for EV production, including manufacturing equipment, automotive glass, printed circuit boards and battery cells.

The company is also struggling to keep pace with lower-cost competitors in China, and is a laggard in the robotaxi market, which is currently dominated in the U.S. by Alphabet’s Waymo. Tesla has promised to launch its first driverless ride-hailing offering in Austin, Texas, in June.

Tesla has been the biggest stock decliner among tech megacaps this year, followed by Nvidia, which was down about 28% as of Monday’s close. The chipmaker has been the second-best profit generator for short sellers, generating returns of $9.4 billion, according to S3.

Nvidia is currently the most-shorted stock in terms of value, with $24.6 billion worth sold short, S3 said. Apple is second at $22.2 billion, and Tesla is third at $17.6 billion.

Musk has a long and antagonistic history with short sellers, who have made plenty of money at times during Tesla’s 15 years on the stock market, but have also been burned badly for extended stretches.

In 2020, Tesla publicly mocked short sellers, promoting red satin shorts for sale.

“Limited edition shorts now available at Tesla.com/shortshorts” Musk wrote in a social media post in July of that year, as the stock was in the midst of a steep rally.

Two years earlier, hedge fund manager David Einhorn of Greenlight Capital posted a tweet that he received the pairs of short shorts that Musk had promised him.

“I want to thank @elonmusk for the shorts. He is a man of his word!” Einhorn wrote. Einhorn had previously disclosed that his firm’s bet against Tesla “was our second biggest loser” in the most recent quarter.

In February 2022, after reports surfaced that the Department of Justice was investigating two investors who had shorted Tesla’s stock, Musk told CNBC that he was “greatly encouraged” by the action and said “hedge funds have used short selling and complex derivatives to take advantage of small investors.”

PlainSite founder Aaron Greenspan, a former Tesla short seller and outspoken critic of Musk, sued the Tesla CEO alleging he engaged in stock price manipulation for years through a variety of schemes.

The case was removed to federal court last year. In 2023, Musk’s social network X banned Greenspan and PlainSite, which publishes legal and other public and company records, from the platform.

— CNBC’s Tom Rotunno contributed to this report.

WATCH: Here’s what to watch for in Tesla’s earnings report

Technology

Instagram launches Edits app for video, rivaling TikTok

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3 hours ago

April 22, 2025

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Instagram Edits app.

Courtesy: Instagram

Instagram on Tuesday launched its standalone Edits video creation app that offers features similar to those already available from TikTok parent Bytedance.

The new app allows creators to organize project ideas, shoot and edit video, and access insights about content. Edits includes background replacement, automatic captioning and artificial intelligence tools that can turn images into video.

“There’s a lot going on in the world right now and no matter what happens, we think it’s our job to create the most compelling creative tools for those of you who make videos for not just Instagram but for platforms out there,” said Adam Mosseri, the head of Instagram, in a Reel posted in January announcing the app.

Edits appears to be Meta‘s answer to CapCut, TikTok’s sister app that is also owned by China-based parent company ByteDance, which allows users to create and edit video on their phone or computer.

Instagram Edits app.

Courtesy: Instagram

Tesla set to report first-quarter results after the bell

Published

4 hours ago

April 22, 2025

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Tesla set to report first-quarter results after the bell

Tesla CEO Elon Musk wears a ‘Trump Was Right About Everything!’ hat, as he, U.S. Trade Representative Jamieson Greer and Central Intelligence Agency Director John Ratcliffe attend a cabinet meeting at the White House, in Washington, D.C., U.S., March 24, 2025.

Carlos Barria | Reuters

Tesla is set to report first-quarter earnings on Tuesday after market close.

Here’s what Wall Street is expecting, based on a survey of analysts by LSEG:

Earnings per share: 39 cents
Revenue: $21.11 billion

Tesla is expected to report a slight revenue decline from $21.3 billion in the same quarter a year earlier. However, investors are going to be more focused on what the future holds after concerns about tariffs and CEO Elon Musk’s close ties to the White House pushed the stock price down 44% so far this year as of Monday’s close.

Earlier this month, Tesla reported a 13% decline in deliveries to 336,681. Tesla blamed the lower deliveries, in part, on the need to suspend production temporarily at its factories while it upgraded lines to start manufacturing a refreshed version of its popular Model Y electric SUVs.

Deliveries are the closest approximation of vehicle sales reported by Tesla but are not precisely defined in the company’s shareholder communications.

At an all-hands meeting with employees last month, Musk tried to reassure staffers that they were still in good hands, and to “hang onto your stock.” He pointed to the popularity of the Model Y, and Tesla’s potential in robotics, artificial intelligence and autonomous vehicle technology.

At the meeting, Musk also made light of the backlash against Tesla elicited by his work for President Donald Trump to reduce the size of the federal government, and his endorsements of Germany’s anti-immigrant AfD party, along with other political rhetoric and antics.

“If you read the news it feels like, you know, Armageddon,” Musk said on a livestream of the employees meeting. “It’s like, I can’t walk past the TV without seeing a Tesla on fire.” He followed up saying, “This is psycho, stop being psycho!”

That was before Trump’s announcement earlier this month of widespread tariffs, the one area where Musk has publicly broken with the Trump administration. On X, he called Peter Navarro, Trump’s top trade advisor and tariff proponent, a “moron” and “dumber than a sack of bricks.”

Tesla stands to take a significant hit from the president’s proposed tariffs, assuming they don’t get rolled back. Tesla manufactures cars in the U.S. for domestic sales so it’s not subject to the 25% tariff on imported autos, but the hefty levies on other components and materials could be severe.

Tesla relies on suppliers in Mexico and China for items like automotive glass, printed circuit boards and battery cells, among other parts essential for the production of its cars. The company has sought an exemption from the U.S. trade representative for equipment imported from China that it uses in its factories.

WATCH: Tariff fallout hits automakers