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Elon Musk to personally review Tesla expenses due to cash situation

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However, things are a little different behind the scenes. Investors are unhappy with Elon Musk, his approach, and his behavior in the recent Wall Street conference and once bullish they are looking to move away from Tesla . This cost-cutting initiative comes shortly after the electric-car company raised capital to build a better cash cushion after its cash position fell by $1.5 billion sequentially in Q1. Read More »

Does Tesla need to accept its Autopilot system is faulty?

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The driver was killed when the auto slammed into the side of a semi-truck that was crossing a highway in Delray Beach, the NTSB said in a preliminary report released Thursday. After that crash, Tesla CEO Elon Musk said the company made changes in its system so radar would play more of a role in detecting objects. According to the report, the auto was on Autopilot (Autonomous) mode when the crash took place and the vehicle failed to prevent it. Read More »

Mass. unemployment rate hit lowest level in 19 years

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Preliminary estimates from the federal Bureau of Labor Statistics' show MA added 4,100 jobs in April. The monthly unemployment rate in MA has dropped below 3% for the first time in more than 18 years. Education and health service jobs have grown the most over the previous year. Total non-farm employment is up 10,900 jobs from last April. State employment hit 5,596,700 in April, up from 5,595,300 in March. Read More »

Autopilot in use before Tesla hit semi

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Thursday's report from the NTSB is an early, bare-bones recounting of its understanding of the basic facts of the crash. After reviewing vehicle data and surveillance video footage, the NTSB found that neither Autopilot nor the driver attempted to avoid crashing into the truck. Read More »

Trump lifts tariffs on Mexico and Canada amid China trade dispute

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He cited Section 232 of the Trade Expansion Act of 1962, which empowers him to put a levy on products that the US Commerce Department determines to be a threat to national security . -Mexico-Canada Agreement, the trilateral trade deal to replace the 25-year-old North American Free Trade Agreement . The Automotive Policy Council, representing the Big Three American automakers, said Friday that tariffs "would weaken global competitiveness and invite retaliation from our trading partners, which ... Read More »

Walmart rolls out free next-day delivery service

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Walmart is rolling out next-day delivery beginning in Phoenix, Las Vegas, and Southern California, with plans to reach approximately 75% of the United States population this year. "And, with 90% of Americans living within 10 miles of a Walmart store, we're well positioned to offer even faster delivery to customers in the future". Read More »

Bitcoin passes $7,000 level as winning streak continues

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According to Coindesk price charts, this is the sharpest increase the cryptocurrency has seen since July of past year when it rose over $2,000 in under two weeks, which has naturally led to a huge amount of speculation about what is driving the current market . Read More »

Asians most heavily represented ethnic minority in United Kingdom rich list

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Every year, the Sunday Times calculates who are the richest people in Britain and release dozens of lists, according to identifiable wealth including land, property, other assets such as art, and shares in companies. The overwhelming majority of Britain's richest 1,000 people gave away less than 1 per cent of their wealth previous year as a culture of philanthropy fails to take root in the United Kingdom, new figures reveal. Read More »

Jet Airways revival: Etihad offer hinges on Rs 9,000-cr debt write-down

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Jet Airways shares plunged more than 13 per cent on Tuesday, after the now-grounded airline said its deputy CEO and chief financial officer Amit Agarwal had resigned. Most of the airline's board members have also quit in the last one month. The Serious Fraud Investigation Office (SFIO) of the corporate affairs ministry is looking into alleged irregular transactions by Jet's founder Naresh Goyal. Read More »

Trump warns China not to retaliate against tariff hike

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ET, with the only exception being utilities. What's more, Bank of America estimates that lower tax bills overseas account for about 0.7 percentage points of the margin increase. The president said Monday that that's not inevitable. That's true to some extent, but China has a lot more manufacturing capacity than, say, Vietnam. Read More »

California Couple Awarded $2 Billion in Roundup Trial

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The jury ordered the company to pay $1bn in damages to each of them, and more than $55m total in compensatory damages. This is the largest payout in this series of cases to date - and, in fact, rates as one of the highest payouts in history over an alleged defective product. Read More »

Amazon to pay employees to quit and start their own delivery businesses

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Amazon said it will cover up to $10,000 in startup costs for employees who are accepted into the program and leave their jobs. So Amazon announced it will now give employees up to $10,000 of the start-up money they will need, along with three months of their existing Amazon pay, as a way of getting the capital they need to get into the service. Read More »

United States stocks plunge as China strikes back at U.S. with higher tariffs

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While the tariffs are aimed at delivering economic pain to China, US businesses and consumers will bear the immediate financial cost of the tariff increase. Even so, China's economy can withstand the worst of the trade war until common sense prevails and the US will also not endure extreme suffering in spite of tariffs tying one hand behind the proverbial American economic back. Read More »

U.S. stocks plunge as China strikes back at USA with higher tariffs

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On Twitter, Trump warned Xi that China "will be hurt very badly" if it doesn't agree to a trade deal. American officials have accused China of backtracking on commitments they say it made in earlier negotiations. A Bank of America Merrill report showed new tariffs pose a downside risk to 2019 earnings per share of 1 per cent to 3 per cent for S&P 500 companies in case of no resolution. Read More »

Elon Musk's trail date set for 'pedo guy' tweet

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In a court order filed Friday, US District Judge Stephen Wilson denied Musk's attempt to dismiss the defamation case and set a trail date for October 22. Mr Musk contended his insult was protected from legal action, but the judge overseeing the case disagreed. But the judge said Mr Musk was not communicating in "heated and volatile" settings that might explain any excesses. Read More »

China Responds to Trump's New Tariffs, Targeting $60 Billion in US Exports

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The higher tariffs from the US and China's response that it would take "necessary countermeasures" rattled investors Friday who had been hoping for a quick resolution to the dispute. "We would like to see these corrections in an agreement which is codified by law in China, not just a State Council announcement". Lighthizer and his office didn't respond to a request for comment. Read More »

Supreme Court rules against Apple in lawsuit targeting App Store

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The plaintiffs purchased apps directly from Apple and therefore are direct purchasers". After a federal judge in Oakland, California threw out the suit, the San Francisco-based 9th U.S. The ruling, with an opinion authored by Justice Brett Kavanaugh , relates to a 2011 case arguing that with the App Store being the only sanctioned place for iOS downloads, that's led to artificially inflated prices. Read More »

Iran vows ‘no talks with US’ after Trump invite

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Apparently as a behavior-changing incentive the USA deployed the USS "Abraham Lincoln" Carrier Strike Group as well as a bomber task force last week. Others landed at an undisclosed location Wednesday. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World. Read More »

Lacklustre December helps push GDP growth to 0.5% in Q1

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Britain's economy grew at a faster pace in the first three months of this year as businesses stockpiled goods to prepare for a Brexit deadline that has now been delayed. The Bank of England meanwhile sees the boost to growth from stockpiling as only temporary, forecasting that British GDP would slow to about 0.2 percent output in the second quarter of this year. Read More »

Crisis hit India's Jet Airways gets two unsolicited bids

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A set of conditions that Etihad Airways has proposed with its binding bid for the revival of grounded Jet Airways is likely to further complicate the recapitalisation process, reports indicate. "Besides taking over the office space given to Jet Airways, we are also in the process of encashing their bank guarantee", said an airport director of AAI. Read More »

Tata Steel says European Commission against merger with Thyssenkrupp

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Thyssenkrupp is considering a carve-out or listing of its elevators business after abandoning plans to split itself up with a cross-shareholding structure, three sources familiar with the matter told Reuters on Friday. "The economic downturn and its effects on business development and the current capital market environment have led to the separation not being able to be realized as planned", Thyssenkrupp said in a statement. Read More »

Canada adds record 106500 jobs in April, unemployment rate dips

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While it declined in New Brunswick, there was little changed in the other provinces. The Canadian dollar jumped 0.7 per cent to 74.70 USA cents at 9:54 a.m.in Toronto. Even wages - which have been sluggish - are showing signs of life. Hourly wage growth also accelerated to 2.5 per cent year over year, an eight-month high and the fifth straight increase. Read More »

Dresser Recall 2019: One Child’s Death Prompts Recall For Tip-Over Hazard

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The recall involves Libra style 3-drawer chests of drawers sold in nine colors . They were sold for about 60 dollars on-line at Walmart, Amazon, Target and other on-line retailers from October 2009 and July 2018. Details on affected model numbers are available here . "As of April 30, 2019, the company has received no reports of the chest tipping over in Canada". Read More »

Uber stumbles out of the IPO gate

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Uber deliberately chose a more conservative share price to avoid making the same mistake as Lyft , a competing ride-share mobile app that was the first of its kind to become a publicly traded company. The San Francisco-based company last raised private capital from Toyota Motor Corp in August at a valuation of about US$76 billion. Uber is suffering a awful first day as a public company as its shares slid into negative territory in the initial moments of trading. Read More »

First Dyson electric car on track for 2021 launch, says entrepreneur

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Now we have an idea of what form Dyson's first EV will take. Such positioning will make the auto highly manoeuvrable, while the increased size of the wheels will make it suitable for driving in both urban and rural environments and potentially help to extend its driving range, according to the patents. Read More »

Volkswagen opens order books for the ID.3 all-electric auto

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ID.3 will be one of five new VW models based on the MEB platform. Still, if pre-orders are anything to go by, it seems as though the newly-named ID.3 could live up to that claim. Volkswagen says the ID.3's starting price will sit below €30,000, and the launch-edition vehicle, which has the middle battery-pack option, starts at just under €40,000. Read More »

Saudi Arabia responding to Iran oil tanker emergency

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June crude CLM9, -0 .58% was down 88 cents, or 1.4%, at $61.24 a barrel on the New York Mercantile Exchange . -Chinese trade row, although persistent supply worries prevented a steeper price fall. "We may see stockpiles rising as state-run refiners pre-stocked supplies in April from Iran and the United States anticipating the impact of sanctions", he added. Read More »