Economy

Donald Trump to General Motors: Close a Plant in China, Not Ohio

Donald Trump to General Motors: Close a Plant in China, Not Ohio General Motors' statement came after President Donald Trump announced that he has spoken to General Motors CEO Mary Barra to vent his frustration about the automaker's closure of an OH manufacturing plant while the US economy continues to fare well. [Full Article...]

Tesla Model Y finally unveiled by Elon Musk

Tesla Model Y finally unveiled by Elon Musk And Jed Dorsheimer, a bullish Tesla analyst at Canaccord Genuity, added: " Tesla unveils the Model Y but event may fall shy of whisper expectations". Its most important vehicle, the upcoming Model Y , is already beginning to feel like more than just the SUV equivalent of the Model 3. The more powerful versions thus offer slightly less range than the small sedan, which is rated for 220 mile... [Full Article...]

Facebook loses two important executives amid new privacy push

Facebook loses two important executives amid new privacy push Another source said executives "scoffed" at Zuckerberg's plans to encrypt communications on all of Facebook's platforms because it would require major changes to Facebook's business model. The departures happened right after Zuckerberg announced last week that he was revamping the Facebook platform to become more secure. In the past two years, the founders of Facebook acquisitions Instagram, W... [Full Article...]

NVIDIA To Acquire Datacenter Networking Firm Mellanox for $6.9 Billion

NVIDIA To Acquire Datacenter Networking Firm Mellanox for $6.9 Billion The segment is important as a slowdown in China and a fading cryptocurrency craze have started to weigh on Nvidia's overall sales in recent quarters. Mellanox specializes in datacenter connectivity, paratactically high-bandwidth Ethernet and InfiniBand products, for use in high-performance systems. [Full Article...]

Tesla backtracks on recently-announced plan to close its stores

Tesla backtracks on recently-announced plan to close its stores The latest announcement reverses those price cuts and most of the store closings. In a post on the company's website, the automaker stated it has now " decided to keep significantly more stores open than previously announced as we continue to evaluate them over the course of several months". [Full Article...]

List of Nationals died in Ethiopian Airlines Airbus 737-800 crash

List of Nationals died in Ethiopian Airlines Airbus 737-800 crash There was no immediate indication why the plane went down in clear weather while on a flight to Nairobi, the capital of neighboring Kenya. Pius Adesanmi was a celebrated author who despite residing overseas in Canada kept in touch with his Nigerian audience fervently back home. [Full Article...]

A Turkish Airlines flight makes emergency landing at JFK: FAA

A Turkish Airlines flight makes emergency landing at JFK: FAA Coleman said the passengers and some crew members were first treated inside an airport terminal. Turkish Airlines officials issued a statement confirming the flight "encountered an unusual turbulence about 40 minutes before landing" in NY. [Full Article...]

Facebook only cares about privacy because it has to

Facebook only cares about privacy because it has to And lastly, members should be able to use the new platforms without fear that their messages will be stored by Facebook in countries with poor privacy and human rights laws. Instagram, WhatsApp and Messenger have operated separately, and Zuckerberg did not say whether they will now share users' data with one another. "We applaud Facebook for beginning to focus on the value of providing t... [Full Article...]

US Trade Deficit Widens

US Trade Deficit Widens Last year, he started with foreign steel and aluminium and a number of imports from China . After eliminating the influence of prices, which renders the numbers used to calculate gross domestic product, the goods- trade deficit widened to US$1.01 trillion in 2018 from US$935.3 billion in 2017. [Full Article...]

Huawei files lawsuit against USA government

Huawei files lawsuit against USA government It claims that the United States is improperly targeting and punishing Huawei without giving the company the chance to argue its case and "damaging its reputation". U.S. President Donald Trump , as recently as last month, was mulling a ban for Huawei by executive order, saying he wants competition with China. This section strips Huawei of its due process, violates the separation-of-power princi... [Full Article...]

Tesla's New V3 Superchargers Add Up to 1600 km Per Hour

Tesla's New V3 Superchargers Add Up to 1600 km Per Hour The third-gen Tesla Superchargers employ a new power cabinet that supports peak rates of up to 250 kilowatts per auto. Using a Model 3 Long Range as an example, the vehicle can gain 75 miles of range in just five minutes, with a per-hour charge rate of up to 1,000 miles (were the auto able to hold such a charge). [Full Article...]

Trump adviser insists Hanoi summit was 'success'

Trump adviser insists Hanoi summit was 'success' As Trump wrapped up his trip to the summit last week, he complained that Democrats had scheduled the hearing at the same time as his negotiations. Earlier in the interview with CNN, Rogers also took issue with Trump's insistence that the House Oversight and Reform Committee's decision to schedule a hearing with his former lawyer Michael Cohen had interfered with the worldwide summit. [Full Article...]

Volvo's First All-Electric Vehicle Will compete With Tesla's Model 3

Volvo's First All-Electric Vehicle Will compete With Tesla's Model 3 As for the base model Tesla Model 3 , that has only 260 miles of range but does cost a bit less than the Polestar 2's eventual base price of $45000, starting at $42,900. The system is projected onto an 11.0-inch portrait-oriented touchscreen, which forms part of the entirely vegan interior . Polestar owners auto use their cars for vehicle sharing, pick-up or deliver items because of the integr... [Full Article...]

Lyft's IPO filing shows surging revenue, widening losses

Lyft's IPO filing shows surging revenue, widening losses Lyft's United States market share is approaching 40 per cent, up from 35 per cent in early 2018, people with knowledge of the matter have told Reuters. More than 1.1 million drivers ferried around 18.6 million "active riders" in the last three months of 2018. But losses mounted, rising to US$911.3 million past year from US$688.3 million in 2017, though they declined as a percentage of revenue. [Full Article...]

Victoria’s Secret to close 53 stores

Victoria’s Secret to close 53 stores L Brands , which operates the up-scale lingerie chain, is planning to close 53 stores this year . Sales for Victoria's Secret have fallen seven percent in the store's most recent quarter as customers seek out lingerie start-ups and big retailers. [Full Article...]

TikTok hit with record $5.7m fine over 'disturbing' child privacy failings

TikTok hit with record $5.7m fine over 'disturbing' child privacy failings After running into trouble in the United States over the "child privacy" case, TikTok has now assured that it will continue to explore ways to expand and evolve its protective measures for global users. "This record penalty should be a reminder to all online services and websites that target children: We take enforcement of COPPA very seriously, and we will not tolerate companies that ignore th... [Full Article...]

SEC hounds Elon Musk after another misleading Tesla tweet

SEC hounds Elon Musk after another misleading Tesla tweet In a court filing on Monday, the regulator pointed to a Musk Feb. 19 tweet: " Tesla made 0 cars in 2011, but will make around 500k in 2019", noting that Musk did not seek or receive preapproval before publishing this tweet, which was inaccurate and disseminated to over 24 million people. [Full Article...]

Microsoft employees speak out against the USA military's HoloLens contract

Microsoft employees speak out against the USA military's HoloLens contract The contract was awarded to Microsoft on November 20, and today some of the company's employees have written an open letter to CEO Satya Nadella and president Brad Smith protesting the move and asking the company to "Cease developing any and all weapons technologies". [Full Article...]

Global shares nudge higher, Aussie dollar rebounds after slide

Global shares nudge higher, Aussie dollar rebounds after slide Earlier, he said Australia was not being singled out. While the local officials acted on the order in various ways, the general effect was to extend clearance for Australian coal to more than 40 days. He didn't say whether China was targeting Australia specifically. They represented just 1.8 per cent of Australia's total global coal exports. Its rival Coles closed about 1.7 per cent high... [Full Article...]

Oil prices fall as US crude output hits 12m bpd

Oil prices fall as US crude output hits 12m bpd U.S. West Texas Intermediate (WTI) crude oil futures fell 17 cents to $56.99 a barrel by 10:26 a.m. EST (1526 GMT) after touching a 2019 high of $57.55 the previous day. Yesterday, the market was rather dead, volume was low and USA data on crude and products was mixed, so the market didn't really react, " Olivier Jakob of Petromatrix consultancy said". [Full Article...]


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