Trending tickers: Bitcoin, Tesla, Microsoft and Boeing

Spot Bitcoin (BTC) exchange-traded fund (ETF) flows are anticipated to remain robust leading up to the Bitcoin halving, according to analysts.

Bitcoin halving means the reward for mining bitcoin is cut in half. Halvings reduce the rate at which new coins are created and therefore lower the available amount of new supply. Bitcoin last halved on 11 May 2020, resulting in a block reward of 6.25 BTC. The next halving expected around 20 April will bring the block reward down to 3.125 BTC.

On-chain analytics firm Santiment said that Bitcoin ETF volume has not slowed down since the asset’s mid-March all-time high.

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“It is a likely foregone conclusion that high activity should continue leading up to the April halving, but it will be interesting to see whether a drop-off in ETF volume and on-chain volume will occur directly afterwards.”

Shares in Elon Musk’s EV maker were almost 4% higher in premarket trading as the company drops prices in an attempt to clear out its biggest ever inventory stockpile.

Tesla is cutting rear-wheel-drive Model Y prices by $4,600 (£3,643). The Model Y Long Range and Model Y Performance will see $5,000 price cuts, according to Bloomberg.

Tesla is offering the deals after producing 46,561 more vehicles than it delivered in the first quarter, adding more cars to inventory than ever before.

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Last quarter, Tesla posted its first annual sales decline since the pandemic — a drop that was significantly worse than expected. The company blamed a weak Chinese economy, arson at its German factory and supply constraints because of escalating conflict in the Middle East.

The stock has dropped 31% this year, the second-worst showing on the S&P 500 Index (^GSPC).

Microsoft (MSFT)

Microsoft is setting up an artificial intelligence lab in London, in the latest boost to the city as an AI hub.

The company said Microsoft AI London would help drive its work in advance “state-of-the-art language models” and in creating “world-class tooling for foundation models.”

Based in the firm’s Paddington offices, the new AI hub will work on consumer AI projects and will be led by Jordan Hoffman, a former scientist at Google’s (GOOG) DeepMind lab.

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Companies such as OpenAI and Anthropic have also set up offices in London in recent months amid a race for AI talent.

Microsoft said it would be “actively hiring” employees to work on the most “challenging AI questions of our time” in the coming weeks and months, although did not say how many jobs would be created.

Boeing (BA)

Boeing shares slipped in premarket trading as the company is yet again under the spotlight for safety concerns after an engine cover fell off during take-off in Denver, US.

US airline regulators have launched an investigation after the part came off and struck the wing flap. Flight 3695 — with 135 passengers and six crew members aboard — rose to about 10,300ft (3,140 metres) before returning safely 25 minutes later to Denver.

Southwest Airlines (LUV) said its maintenance teams would review the Boeing 737-800 after its cowling, which covers the plane’s engine, fell off. The airline confirmed it was responsible for maintenance of such parts.

“We apologise for the inconvenience of their delay, but place our highest priority on ultimate safety for our customers and employees,” a statement said.

Boeing is overhauling its leadership amid its most significant safety crisis in years, announcing sweeping changes that included the departure of its chief executive Dave Calhoun at the end of the year.

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