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Tesla’s Board Has Met Several Times to Discuss Going-Private Proposal

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The company, which is losing money and burning through cash reserves, has not revealed how it plans to raise more than $70bn it needs to offer shareholders the $420 per share that Musk indicated. Tesla directors have said they knew about Elon Musk's surprise proposal to privatise the money-losing auto maker before he tweeted about it and have met several times in the past week to discuss the proposal. Read More »

Crude Oil Settles Higher On Supply Worries

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On top of that, Iranian President Hassan Rouhani has threatened to disrupt regional oil production and exports if the Trump administration follows through with oil sanctions. Iran's oil ministry said last month it doesn't use the Bab el-Mandeb strait at southern end of Red Sea for its crude exports after Saudi Arabia temporarily halted its own shipments through the waterway, due to an attack on two of its tankers. Read More »

Snapchat lost 3 million daily users in the past three months

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Snap stock was trading at just over $13 a share ahead of Tuesday afternoon's report, down from a 52-week high of $21.22. Snap previously didn't disclose any monthly user numbers, with executives arguing that daily actives better reflected the activity on the platform. Read More »

Here's why Elon Musk wants Tesla to go private

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Tesla's shares were up 6.5pc at $363.46. He added that "being public means that there are large numbers of people who have the incentive to attack the company". Following Musk's initial tweet trading in Tesla Inc was briefly suspended, but ended at $380 (£296) a share, which was close to a record high. If we were to go private, employees would still be able to periodically sell their shares and exercise their options. Read More »

Ford reveals details of buck-a-beer plan

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It will go into effect on Monday August 27, 2018. The move is one of Ford's promises he made during his election campaign, in addition to promising the expansion of the sale of beer and wine to corner and box stores in Ontario. The minimum retail price for beer was $1 in Ontario between 2005 and 2008, before the government banned it in 2008. "These product placements or advertisements. Read More »

Dead fetus reportedly found on plane at LaGuardia Airport

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According to CBS News , a cleaning crew found the fetus around 6 a.m.in the plane's bathroom. The fetus was believed to be five or six months along. The plane was being held at Terminal B while the medical examiner's office responded to the scene. Details will not be released until after the investigation is complete, the statement said. Read More »

Elon Musk says he's considering taking Tesla private

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The stock was up Tuesday after the Financial Times reported that Saudi Arabia had taken a $2 billion stake in the electric auto company. Musk owns almost 20% of the company. If Musk were to make good on his tweet, it is unclear from where he could secure funding to buy out Tesla's shareholders. Tesla did not respond to a request for comment immediately. Read More »

China announces $60B of U.S. goods for tariff retaliation

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White House economic adviser Larry Kudlow said the yuan is falling partly because China is a "lousy investment", trash talking the world's second-largest economy after it threatened more retaliatory tariffs on us exports. Beijing has offered to narrow its politically volatile trade surplus with the United States but has resisted changing development plans its leaders see as a path to prosperity and to restoring China's rightful role as a global leader. Read More »

Facebook Wants Access to Your Banking Data

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Bancorp ( USB ) in the past year to determine whether potential offerings for bank customers on Facebook Messenger might be possible. This comes as the social media giant wants to expand its e-commerce footprint, according to the Journal. Read More »

NASCAR Rumors: CEO Brian France Name-Drops Donald Trump During Reported Arrest

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First, here's the public story, as told by the Sag Harbor Village Police Department statement obtained by ESPN . "Upon traffic stop, it was determined that Mr France was operating said vehicle in an intoxicated condition". France was arrested Sunday while allegedly driving under the influence and in possession of oxycodone. France, whose blood-alcohol level reportedly was twice the legal limit, spent the night and jail and was released Monday morning. Read More »

California office pool wins $543 million lottery jackpot

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The rest of the winners declined to be named and would not say the name of their company. After over a week, the victor of the $534 million lottery jackpot has been revealed, except it's more than one person who got lucky. - It was a life changing "spur of the moment decision", for a group of coworkers when they chose to do an office lottery pool. We love what we've built there. Read More »

Five killed when plane crashes in California parking lot

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Ghanadan was previously identified by family members as a Realtor who was onboard the flight as part of a work-related trip. The plane was heading to the airport southeast of Los Angeles when it came down and struck an unoccupied parked vehicle in the lot of a Staples store and a CVS pharmacy. Read More »

PepsiCo CEO Indra Nooyi to step down after 12 years at helm

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Laguarta will take over on October 3 and will also join the board, the company said in a statement . She also led the acquisition of Tropicana and merger with Quaker Oats, bringing the Quaker and Gatorade businesses to PepsiCo, as well as the acquisition of Wimm-Bill-Dann, the largest worldwide acquisition in PepsiCo's history. Read More »

ETC (Ethereum Classic) Officially on Coinbase On August 7 2018

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In a statement published on its official blog , the platform revealed that it is making the information public in line with its new process for listing new digital assets. As soon as the needed liquidity is attained, ETC will be listed on Coinbase Consumer, and this might take a week or two after the commencement of trading on Pro and Prime. Read More »

Iran urges enhanced co-op with Russia, China, neighbors

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They said they remained committed to the 2015 accord and to building up economic relations with Iran, including "the continuation of Iran's export of oil and gas" and other energy products. Iranian President Hassan Rouhani has warned the United States against any attempt to stop Tehran's oil trade, threatening to block the strategically important Strait of Hormuz. Read More »

Five killed after plane crashes into mall parking lot in California

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Los Angeles reported the plane went down around 12:30 p.m. local time. A medical group has been established to handle patient care and treatment, said the Orange County Fire Authority. Photos from the scene showed the plane upright but on its belly. The plane is registered to the San Francisco-based real estate company Category III, according to an FAA database. Read More »

RBS promises first dividend since financial crisis

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RBS had reached civil settlement in principle with the US Department of Justice or DoJ in relation to the DoJ's investigation into RBS's issuance and underwriting of US Residential Mortgage Backed Securities (RMBS) between 2005 and 2007, resulting in a 1.040 billion pounds additional provision in the latest-quarter. Read More »

US trade deficit widens by $46.3 billion in June

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The U.S. trade deficit in June widened by $3.2 billion and Trump's own policies could be to blame. Analysts had expected a trade deficit of $2.3 billion, according to a poll by Thomson Reuters Eikon. Exports rose sharply in prior months as the potential impacts from tariffs imposed by the Trump administration were front-run. "In real terms, exports rose 2.2% while imports fell 1.2% in June". Read More »

WhatsApp launches Business APIs, to charge customers

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It seems finally WhatsApp have found the way to mint money, isn't? though with free business services the company created a rage, but this time we have to wait and see how it will pick interest among the businessman and customers. Facebook has always been testing ways to make money from WhatsApp , which it bought in early 2014 in a deal valued at $19 billion. In the second quarter, Facebook's user base reached 2.23 billion monthly active users. Read More »

Global Oil Production Raises As Saudi Arabia Pumps More

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A higher crude output from the Saudis, along with Nigeria and Iraq, pushed up total production from the Organisation of Petroleum Exporting Countries by 300,000bpd, offsetting losses from a spiraling economic collapse in Venezuela, political clashes in Libya and the onset of U.S. Read More »

United Kingdom services PMI drops to 53.5 in July, 3-month lows

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Surcharges for raw materials were passed on to clients in July, with factory price inflation accelerating to a survey-record high. The jump in output in July came on the back of higher volumes in new projects as well as some catch-up from the cold weather in the first quarter of the year. Read More »

IAG's Aer Lingus profits soar but Vueling losses deepen

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The owner of Iberia, Vueling, Aer Lingus and Level reported second quarter operating profit before exceptional items of 835 million euros (Dh3.55 billion), up 6 per cent on past year but slightly missing a 848m euro consensus analyst forecast. Read More »

Ryanair proposes mediator for Irish pilots union talks

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The 24-hour stoppage will start next Friday August 10 at 1am. Next Fridays picket coincides with a strike by pilots in Sweden and Belgium -their colleagues in Germany and Holland have also backed industrial action but have yet to say when it will happen. Read More »

US businesses cast wider net as jobless rate hits 3.9 pct

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U.S. job growth slowed more than expected in July as employment in the transportation and utilities sectors fell, but a drop in the unemployment rate suggested that the labour market was tightening. Peter Cramer of Prime Advisors says one reason wages are not growing faster is the large but shrinking pool of part-time workers who are getting longer hours or full-time work. Read More »

Huawei eyes top position in smartphone market

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It's official - China's smartphone brand, Huawei overtook Apple as the world's second largest smartphone vendor after Korea's Samsung for the second quarter of 2018. Market saturation and climbing average selling prices were among factors curbing growth in the smartphone market, said Worldwide Quarterly Mobile Phone Tracker research manager Anthony Scarsella. Read More »

Foodora To Leave Australia By The End Of The Month

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Foodora will shut down in Australia by August 20 . Foodora has been part of an increasingly crowded online food delivery market in Australia where it competes with Uber Eats , Menulog and Deliveroo . "It is imperative that Foodora pays compensation to its riders". Australia's Fair Work Ombudsman also launched legal action against the company. Read More »

Steve Jobs' Daughter Recalls Their Troubled Past As Apple Hits $1T

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She wrote a book adaptation for Vanity Fair where she discusses some of her experiences. Who is Lisa Brennan-Jobs? Brennan-Jobs offered a partial explanation for her father's continued distance: "I was a blot on a spectacular ascent, as our story did not fit with the narrative of greatness and virtue he might have wanted for himself". Read More »

Jeep Wants to Ban Mahindra Roxor in US, Here’s Why

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FCA claims that the Mahindra Roxor infringes key characteristics of Jeep's signature design, Bloomberg reports , including the "boxy body shape with flat-appearing vertical sides and rear body ending at about the same height as the hood". Read More »

395 people in 15 states, including Ohio, sickened in McDonald’s salad outbreak

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It can take people up to a week after ingesting the contaminated food to start feeling symptoms, and many cyclospora infections take weeks to manifest. The company later said it replaced the supplier of salads in those states. The statement said, " Fresh Express follows rigid food safety requirements and preventive controls throughout our supply chain that are carefully created to mitigate against potential health risks". Read More »

Iran protesters attack religious school

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During past unrest, conservative outlets have focused on attacks against sensitive symbols such as religious buildings as a way of tarnishing the protests. In May, the United States pulled out of a 2015 deal between world powers and Tehran under which worldwide sanctions on Iran were lifted in return for curbs on its nuclear program. Read More »

Billionaire retail tycoon Philip Day weighs rescue bid for House of Fraser

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It remains unclear whether any new deal for House of Fraser could result in a reprieve for the Carlisle store, which is due to close next year with a loss of around 150 jobs. " House of Fraser is in discussions with alternative investors and is exploring options to obtain the required investment on the same timetable", the company said in a regulatory filing late on Wednesday. Read More »

Nate Diaz angrily reacts to Khabib Nurmagomedov-Conor McGregor announcement

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With the fight between Conor McGregor and Khabib Nurmagomedov seemingly inevitable, the question remains where and when will the pair face off. The last time McGregor was in the Octagon, he scored a 2nd round knockout over lightweight champion Eddie Alvarez to become the first fighter to hold two world titles simultaneously. Read More »

China urges USA to 'calm down' after latest tariff threat

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Businesses in the USA also want a slice of the growing market in China, which is ready to buy more to meet the growing demand from Chinese consumers, Mr Wang said. Trump said two weeks ago he is ready to impose tariffs on over $500 billion of Chinese imports. Trump has threatened to slap tariffs on virtually all of China's exports to the United States. Read More »