Economy

Musk defense "borders on the ridiculous", SEC tells court

Musk defense Well, Musk did not do that last thing, and the SEC filed to have him held in contempt of court after he tweeted (and later corrected) misleading Tesla vehicle production numbers in February 2019. Tesla and Musk each had to pay $20 million in fines and agree to governance changes that included Musk's removal as chairman. According to a Fox News report , the SEC thinks that "Musk's argument... [Full Article...]

Fisker slots $40k electric SUV ahead of delayed EMotion flagship

Fisker slots $40k electric SUV ahead of delayed EMotion flagship While history certainly didn't play out that way, it's an odd twist that Henrik Fisker's new venture, Fisker Inc., has dropped a teaser for its first product-a fully electric SUV-into the afterglow of last week's Tesla Model Y electric SUV introduction. [Full Article...]

RCom calls off asset sale to Reliance Jio, settles dues with Ericsson

RCom calls off asset sale to Reliance Jio, settles dues with Ericsson The tycoon's heavily indebted telecom business had promised to pay the local unit of Ericsson AB about 5.5 billion rupees ($80 million) for past maintenance services. The threat of a prison term to Ambani also came as a rare warning to some of India's richest borrowers whose firms have turned defaulters. The nation's policy makers and courts have been cracking down on delinquency to help banks s... [Full Article...]

FINALLY, Someone Calls Out GM And Its Perpetual Incompetence — IT'S ABOUT TIME

FINALLY, Someone Calls Out GM And Its Perpetual Incompetence — IT'S ABOUT TIME The president tweeted the following, saying Barra is blaming the UAW Union about the plant closure. The president also expressed frustration that "talks" between General Motors and the United Auto Workers Union would begin in September or October. [Full Article...]

Watchdog: Venezuela's oil industry at risk of collapse

Watchdog: Venezuela's oil industry at risk of collapse The IEA report indicates that the U.S., Brazil, Canada and Norway will further increase their oil production, that they will multiply their incomes with oil sales and that 70 percent of growth in global oil supply will come from the increase in U.S. [Full Article...]

United Kingdom slashes 2019 economic growth forecast

United Kingdom slashes 2019 economic growth forecast He said that using the Spending Review would "give us as a nation real choice" to decide how much of the deal dividend is released and how it can be shared between increased spending on public services. The chancellor unveiled a lower growth forecast for 2019, cut to 1.2% from 1.6%. "The idea that some readily available fix to avoid the consequences of a no-deal Brexit is just wrong". [Full Article...]

Airline apologizes for making woman 'cover up'

Airline apologizes for making woman 'cover up' A 21-year-old woman says she was humiliated and left shaking after being told to "cover up" or she would be kicked off an airplane when she boarded wearing a vest-like crop-top and high-waisted pants. Describing the entire incident in details, the woman told The Sun , "A guy two rows in front of me shouted: "Shut up you pathetic woman, put a f***ing jacket on" and they all just let him shout at m... [Full Article...]

Tesla Should Not Have Lowered the Price of Autopilot Says Musk

Tesla Should Not Have Lowered the Price of Autopilot Says Musk There will be no price increase to the $35,000 Model 3 . A few stores in high visibility locations that were closed due to low throughput will be reopened, but with a smaller Tesla crew. Musk stated that in Q1, there are numerous challenges to get cars to Europe and China and so, the company does not expect to make profits in Q1. Tesla shares finished Tuesday down 2.6 percent at $283.36 on ... [Full Article...]

Wells Fargo share price down 1% as Congress questions CEO

Wells Fargo share price down 1% as Congress questions CEO The CEO of beleaguered Wells Fargo told Congress Tuesday that the bank has cleaned up its act after a series of scandals that affected millions of customers. Sloan has spent years attempting to fix the bank's image, including making regular visits to Capitol Hill. He said it had made contact with some 40 million customers and had paid tens of millions of dollars in restitution. [Full Article...]

Happy Pi Day! Where to get pizza, pie deals

Happy Pi Day! Where to get pizza, pie deals Here are a few special deals you can find on " Pi Day ", good for March 14 only. If you retweet Bojangles' account and answer a Pi Day-themed trivia question correctly, you can win a $10 Bojangles gift card. Instead of only celebrating strictly pie, Pi Day spans many circle-shaped foods, such as pizza, pie, sweet potato pie, and others. Biggby Coffee: The Apple Pie latte is returning a... [Full Article...]

Aussie dollar falls as U.S., China delay trade meeting; sterling falls

Aussie dollar falls as U.S., China delay trade meeting; sterling falls Federal Reserve all but abandoned its rate hike plans. The Bloomberg Dollar Spot Index advanced 0.3 percent, the first advance in a week.The euro declined 0.2 percent to $1.1309, the first retreat in a week.The British pound decreased 0.8 percent to $1.3226, the biggest dip in nearly eight weeks.The Japanese yen sank 0.4 percent to 111.64 per dollar, the weakest in more than a week on the larg... [Full Article...]

Johnson & Johnson hit with $29.4 million verdict in talcum powder case

Johnson & Johnson hit with $29.4 million verdict in talcum powder case J&J has pledged to appeal cases it has lost and has convinced courts to overturn several jury verdicts so far. The Oakland jury of five men and seven women ordered J&J to pay $ 29 million in actual damages for Leavitt's injuries after finding that J&J's handling of the asbestos-laced baby powder was a "substantial contributing factor" in her cancer's development. [Full Article...]

Facebook Loses 2 Top Execs as It Revamps Strategy Toward Private Messaging

Facebook Loses 2 Top Execs as It Revamps Strategy Toward Private Messaging Zuckerberg said Cox first mentioned he might leave a few years ago, but chose to stay on after 2016 as evidence emerged that Russians had manipulated Facebook's services to provoke discord in the USA and influence the election won by President Donald Trump. [Full Article...]

Tesla Model Y: What We Know

Tesla Model Y: What We Know Here's where to watch Tesla's live announcement: the live stream will be available on Tesla's website , either directly on the main page, or through the Events & Presentations section on the Investor Relations page. Last but not least will be the Tesla Model Y Performance . The heavier Model Y, however, will have less range because of its increased weight and size. [Full Article...]

Trump Orders Boeing 737 MAX Planes Grounded After Fatal Crashes

Trump Orders Boeing 737 MAX Planes Grounded After Fatal Crashes Under global rules, Ethiopians are leading the investigation but France's BEA will conduct black box analysis as an adviser. The contents of the flight data recorder and cockpit voice recorder that will be examined in France will provide critical details about what caused the plane crash, according to experts. [Full Article...]

Oil Rises Strongly Supported by Cuts, Sanctions

Oil Rises Strongly Supported by Cuts, Sanctions The cost of the futures contracts of Brent crude oil for May 2019 delivery gained 0.71% amounting to $68.03 per barrel on London's ICE as of 11:10 a.m. Opec sources have said an extension of the pact is the likely scenario. "U.S. crude oil exports have set annual record highs in each year since 2014", said EIA. [Full Article...]

Facebook says it’s resolved outage issues and denies attack

Facebook says it’s resolved outage issues and denies attack In addition to Facebook, irate users noted that the outage likewise affected Instagram and WhatsApp. Telegram has gained as many as 3 million new members in the last 24 hours and for this sudden growth it has to thank Facebook. Users in Asia were having problems on Thursday morning. After staying tight-lipped on the cause of the outage for almost 24 hours, Facebook early Thursday afternoon... [Full Article...]

Boeing's fall illustrates the insane math of the Dow

Boeing's fall illustrates the insane math of the Dow Boeing's stock lost 5.3 percent on Monday after the second fatal crash involving the newest version of its popular 737 jetliner. - China on March 11, 2019, ordered domestic airlines to suspend commercial operation of the Boeing 737 MAX 8, citing the Ethiopian Airlines crash and another deadly accident of that same model in Indonesia. [Full Article...]

Police on nationwide hunt for suspected Bitcoin fraudsters

Police on nationwide hunt for suspected Bitcoin fraudsters In October 2018, the Calgary police's cybercrime team's investigation began when officers were tipped off to a major fraud involving transactions that target a Canadian bitcoin company, according to the Toronto police . Besides Calgary, the suspects also conducted double-spend attacks on Bitcoin ATMs in cities like Toronto, Montreal, Winnipeg, Ottawa, and more. CPS believes that the suspe... [Full Article...]

Numbers drawn for $448 million Powerball jackpot

Numbers drawn for $448 million Powerball jackpot The cash option would be $271.7 million, according to the Powerball website . Those picking the 5 correct white balls will win $1 million, or more if a Power Play is purchased. He chose the cash option worth $180,227,550 and received $114,091,248 after taxes were deducted. On May 18, Little Ferry resident Tayeb Souami won the $315.3 million prize with a ticket he bought at ShopRite in Hackensac... [Full Article...]


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