Here is a rundown of Cheddar News' top trending market stories of the day.
General Motors has announced it's cutting 500 salaried positions, according to an internal letter obtained by CNBC. This comes only one month after CEO Mary Bara said the company had no layoff plans. Those cuts reportedly started Tuesday and will be decided based on performance reviews. The layoffs follow similar moves by other large companies who are looking to cut costs by reducing headcount.
TESLA IN MEXICO
Tesla is going full-throttle into its electric vehicle battery plant expansion, and this time the automaker is headed for Mexico. Tesla plans to build a plant in the northern part of the country and has officially been granted approval, according to the country's president. The deal is valued at roughly $1 billion.
DISH NETWORK HACK
Dish network says the cyberattack responsible for major outages has allowed hackers to steal some personal data. As of now, it isn't clear if this data belongs to Dish employees, customers, or both. The ransomware attack has disrupted customer's WiFi, streaming capabilities, Dish's website, and even user accounts. The outage has lasted multiple days for some customers.
MICROSOFT'S NEW TEXTING FEATURE
Microsoft is trying to give Apple's Macs a run for their money with a new texting feature. The tech giant is releasing a new phone link app that enables users to use iMessage from their personal computers. Customers can text and call on windows technology as long as their phone is an iOS. The company is using Bluetooth to connect across devices, but Apple still has some features Microsoft doesn't, and that's the ability to send pictures and text in group chats.