Money

Musk argues regulators overstepped in tweet contempt quest

Musk argues regulators overstepped in tweet contempt quest Electric carmaker Tesla has reversed a previous decision to close most of its stores and move to online-only sales in order to pass the savings along to customers. According to Tesla's blog, the preference for conducting sales online will continue and said buyers in stores would be trained to order a Tesla on phone, which is a rapid process. [Full Article...]

Nvidia close to Mellanox deal

Nvidia close to Mellanox deal Mellanox , an Israeli provider of networking components for data centers, had reportedly been on the market for several months following a fight with an activist investor, and multiple buyers had lined up before Nvidia sealed the offer Monday . [Full Article...]

Porsche Taycan Electric Car To Make Its Debut In September 2019

Porsche Taycan Electric Car To Make Its Debut In September 2019 In a statement earlier today, Porsche's Detlev von Platen - the company's chief of sales and marketing - said the following: 'The overwhelming interest in the Taycan shows us that our customers and fans are just as excited about the first Porsche electric athlete as we are. [Full Article...]

Forgetful $273M Mega Millions Winner Says Good Samaritan Helped Him Win Big

Forgetful $273M Mega Millions Winner Says Good Samaritan Helped Him Win Big On Sunday night during a snow storm, Weirsky got around to checking his numbers - and realized he was holding the winning ticket . She also told the New York Post that she paid spousal support and continues to make payments. He may start a business, he said, or work part time helping a friend who works as a handyman. Weirsky says he was a "bum" before and after high school, so maybe he'll b... [Full Article...]

Tesla to raise model prices by average of 3%

Tesla to raise model prices by average of 3% Tesla will raise the price of its vehicles after going back on a recent decision to close most of its stores. Musk blindsided many sales personnel at the company with the store closings, and some investors and analysts feared the cost-cutting measures sent troubling signals about the state of the company's sales and cash position. [Full Article...]

Philadelphia bans cashless shops to guard 'unbanked' buyers

Philadelphia bans cashless shops to guard 'unbanked' buyers Philadelphia Mayor Jim Kenney recently signed into law an amendment to the city's Fair Practices Ordinance prohibiting stores and restaurants from refusing to accept cash, calling it "unlawful discrimination". Lawmakers in New York City and New Jersey are considering similar measures. More than this, cashless companies also argued that cash slows down transactions on their part due to manua... [Full Article...]

Western Alberta unemployment rate increases to 5.1 per cent

Western Alberta unemployment rate increases to 5.1 per cent The jobless rate, meanwhile, stayed flat at 5.8 per cent despite the job surge because more people were looking for work, too. Part-time job losses of 11,600 were offset by an increase of 67,400 full-time jobs. In particular, the central bank focuses on a reading called "wage common", which incorporates payroll data from several sources, not just from the labour force survey. [Full Article...]

Tesla’s Shanghai Gigafactory To Cushion US-China Trade War Impact

Tesla’s Shanghai Gigafactory To Cushion US-China Trade War Impact The US giant will make its Model 3 sedans at the factory - initially targeting 3,000 cars a week before ramping up annual production to 500,000 - which it plans to have operational by the end of the year. But Tesla said in a note to China Daily that it is not its intention to compete with companies such as Nio or Byton, as their products vary from each other. [Full Article...]

Hiring Plunges to 20000 as Wage Gains Top Estimates

Hiring Plunges to 20000 as Wage Gains Top Estimates The unemployment rate fell slightly to 3.8 percent, the Labor Department reported Friday. Economic analysts offered a range of reactions to news of the weak job-creation numbers. Hiring growth slowed sharply in February, a sign that weakening global economic growth could be touching the USA economy, though strong wage growth and robust job gains in earlier months suggest the US still has sig... [Full Article...]

Norway's $1T fund to dump oil and gas shares

Norway's $1T fund to dump oil and gas shares The government of Norway, the biggest oil and gas producer in western Europe, said it was specifically targeting exploration and production companies, "rather than selling a broadly diversified energy sector". The government said it would exclude companies classified as exploration and production companies from the fund. These include Cairn Energy Plc, Anadarko Petroleum Corp., Chesapeake Energy... [Full Article...]

Turbulence injures 30 people on flight from Istanbul to New York

Turbulence injures 30 people on flight from Istanbul to New York Think your friends would be interested? Almost 30 people are being treated for non-life-threatening injuries after their flight was hit with strong turbulence prior to landing in NY. The Boeing 777 had taken off from Istanbul with 326 passengers and 21 crew members. Turkish Airlines did not immediately respond to a request for comment. [Full Article...]

Gold rises on bleak economic outlook, softer dollar

Gold rises on bleak economic outlook, softer dollar Citic Securities Co. advised clients to sell the shares, saying they are "significantly overvalued" and could decline more than 50 percent over the next year. The ECB decision sent European markets down-a trend which extended to the US-indicating market concerns over global growth. The movement follows the news that the United States trade deficit widened to a 10-year high in 2018, despite Preside... [Full Article...]

TSX edges higher after Bank of Canada keeps rates unchanged

TSX edges higher after Bank of Canada keeps rates unchanged After growing at a pace of 1.8 per cent in 2018, it now appears that the economy will be weaker in the first half of 2019 than the Bank projected in January . The Canadian dollar decreased by almost half a cent. Overall exports saw a slight decline and household spending slowed for a second straight quarter. [Full Article...]

Venezuela opposition protesters scuffle with police as blackout lingers

Venezuela opposition protesters scuffle with police as blackout lingers Maduro is struggling in the face of a challenge by opposition leader Juan Guaido , who has declared himself to be interim president and is now backed by some 50 countries led by the United States. Marielsi Aray, a patient at the University Hospital in Caracas, died after her respirator stopped working. "The doctors tried to help her by pumping manually, they did everything they could, but wit... [Full Article...]

Airbnb buys HotelTonight as it gears up to go public | Articles | Strategy

Airbnb buys HotelTonight as it gears up to go public | Articles | Strategy Airbnb and HotelTonight will operate as separate entities, Airbnb said, with HotelTonight keeping its own app and website. Since introducing deluxe features early previous year, Airbnb has more than doubled the number of rooms available in hospitality venues that aren't someone's half-finished basement, and tripled hotel bookings between 2017 and 2018. [Full Article...]

Facebook Wants To Make Social Networks More Private

Facebook Wants To Make Social Networks More Private Presumably this is all after it's finished doing everything it can to fight privacy laws . Zuckerberg acknowledged that the move may even get Facebook's services banned in some parts of the world. The company has earned itself little respect by constantly riding roughshod over user privacy , and it's not clear if its reputation can be salvaged from the numerous scandals that have emerged over th... [Full Article...]

Corruption scandal could bring down Canadian Prime Minister Justin Trudeau

Corruption scandal could bring down Canadian Prime Minister Justin Trudeau Butts quit as Trudeau's principal private secretary on February 18. "I am firmly convinced that nothing happened here beyond the normal operations of government", Butts told the Commons justice committee. Philpott's resignation means Trudeau must appoint a new president to the Treasury Board, which oversees government spending. Jody Wilson-Raybould told a shocking story in her appearance at th... [Full Article...]

Wall Street critic Warren vows to break up Amazon, Facebook, Google

Wall Street critic Warren vows to break up Amazon, Facebook, Google Warren's Medium post references Microsoft and how the US government successfully cowed that belligerent monopolist nearly 20 years ago. President Trump said in August that he believed tech companies are in an "antitrust situation", but he was more concerned about organizations capturing information from their users. [Full Article...]

Amazon reportedly planning to open dozens of grocery stores in major cities

Amazon reportedly planning to open dozens of grocery stores in major cities After two decades of upending the retail industry by shifting shoppers to the internet, Amazon in recent years has become increasingly focused on physical retail, posing a threat to traditional grocers. Part of the plan may be purchasing small, local grocery chains as well. Amazon already has the online ecommerce business on lock, and now it likely wants to conquer the physical shopping, as well. [Full Article...]

China agrees on solution to Tesla customs issue

China agrees on solution to Tesla customs issue Tesla will share detailed specs of the SUV and its pricing March 14 throughout an occasion on the firm's design studio in Los Angeles. He believes that Musk is essential to Tesla, but that he might be better suited for another position, such as such "chief ideologue". [Full Article...]


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