Business


Tesla Shares Soar After Elon Musk's SEC Settlement Tesla Shares Soar After Elon Musk's SEC Settlement
- October 01, 2018

This is only the midpoint of his Musk-sational 2018 narrative . The SEC charges against Musk shaved about $7 billion off Tesla's value. But, like any responsible parent, the SEC doesn't give a sh*t if Elon likes them or not. In emails leaked to CNBC , Musk hinted that Tesla was " very close " to being profitable and told staff to " ignore the distractions ". Musk has said that he expected Tesla to achieve positive cash flow and profitability in the quarter, which ended on ... (more...)
General Electric surges after replacing Flannery as CEO (GE)
- October 01, 2018

Despite cutting jobs and shedding businesses, GE's results continued to deteriorate, mainly due to problems at its power plant division, which makes electric generating equipment. "GE is bloated and its culture is destroyed". General Electric CEO John Flannery is seen at the company's office in New York City, U.S., June 26, 2018. (more...)
California's 'gold standard' net neutrality becomes law California's 'gold standard' net neutrality becomes law
- October 01, 2018

It was proposed after the Federal Communications Commission repealed Obama-era rules previous year that prevented internet companies from exercising more control over what people watch and see on the internet. After a contentious fight in the state legislature-where large internet service provides (ISPs) like Verizon, AT&T, and Comcast tried to water-down or kill the bill-final passage of SB 822, spearheaded by Democratic State Senator Scott Weiner, was signed by Gov. (more...)
Subsidized LPG Cylinder Rates Hiked For October Subsidized LPG Cylinder Rates Hiked For October
- October 01, 2018

On Monday, petrol in Delhi was priced at Rs 83.73 per litre. In Delhi, the diesel is priced at 75.09 per litre and at Rs 79.72 per litre in Mumbai. The increase in transport fuel rates comes amid surging crude oil prices. This subsidy amount varies from month to month, depending on the changes in the average global benchmark LPG rate and foreign exchange rate. Amid some speculation, the CEF has not passed on the increases from September's fuel price intervention, when price rises were ... (more...)
Tesla is 'very close' to profitability, Musk says in staff email Tesla is 'very close' to profitability, Musk says in staff email
- October 01, 2018

Elon Musk told Tesla employees that the company was on the cusp of making money, hours after he and the carmaker reached a settlement with the U.S. Musk's tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla . (more...)
Canada and the United States reach a deal on NAFTA Canada and the United States reach a deal on NAFTA
- October 01, 2018

A new era in North American free trade dawned in the dead of night Sunday as a 14-month NAFTA modernization effort between Canada , the USA and Mexico finally came to fruition with just hours to spare before an end-of-weekend deadline. But it keeps a NAFTA dispute-resolution process that the USA wanted to jettison and offers Canada protection if Trump goes ahead with plans to impose tariffs on cars, trucks and auto parts imported into the United States. (more...)
Intel CFO announces plans to deal with the chip supply problem Intel CFO announces plans to deal with the chip supply problem
- September 30, 2018

That may cause a shortage of budget PC chips. Intel's interim CEO Bob Swan is assuring customers and investors that it will have the PC chip supply to at least meet the full-year revenue outlook that Intel announced in July. The goal is to increase the supply in order to meet the growing customer demands, Swan said. We're making progress with 10nm. Lately, rumors have been swirling that Intel is facing the potentially enviable prospect of more demand for its products than it can supply. (more...)
TSB, HSBC And Barclays Report Technology And Online Issues TSB, HSBC And Barclays Report Technology And Online Issues
- September 30, 2018

We're sorry for any issues our customers experienced. Online bank customers have been venting their frustration as both TSB and HSBC apps went down earlier today. The worst disaster was at TSB which is still handling the fallout from a bungled migration to new servers in April that eventually resulted in the departure of its chief executive following stinging criticism from MPs (BSE: MPSLTD.BO - news). (more...)
Unilever's Dutch move faces further shareholder opposition Unilever's Dutch move faces further shareholder opposition
- September 30, 2018

Pressure is mounting on Unilever over its plans to relocate to the Netherlands after a fifth big shareholder raised concerns and as a potential revolt emerged against the chairman's re-election. Two of the group's three divisions will stay in the United Kingdom, and it has no plans for redundancies among its 6,000 United Kingdom staff. However, if the business quits the United Kingdom it will lose its FTSE 100 status - forcing many investment managers that track the index to sell their ... (more...)
Scottish brewery BrewDog takes stout position against Trump supporters Scottish brewery BrewDog takes stout position against Trump supporters
- September 30, 2018

Scottish craft brewery BrewDog canceled a series of planned events with USA brewery Scofflaw in the United Kingdom after a statement issued on behalf of the American company promised free beer to supporters of Trump. "The reputation of our client is of utmost importance and we are taking this matter seriously". The employee who released information about the Trump promotion was suspended pending an investigation, Frank said. (more...)
Ryanair strike: Tens of thousands to be hit by today's staff walkout Ryanair strike: Tens of thousands to be hit by today's staff walkout
- September 30, 2018

Cabin crews in Germany, Belgium, Portugal, the Netherlands, Spain and Italy, as well as pilots in Germany, began a 24-hour walkout as airspace opened on Friday. The airline, which has been battling labour unrest for nearly a year, has blasted the decision of German pilot union Vereinigung Cockpit (VC) to call the strike there. (more...)
Petrol Prices Hiked By Up To 10 Paise Across Metro Cities Petrol Prices Hiked By Up To 10 Paise Across Metro Cities
- September 30, 2018

The application was filed in a pending petition challenging the daily rise in fuel rates and seeking a direction to the central government to fix a fair price for petrol and diesel by treating them as essential commodities. While the Opposition has blamed the Centre for not doing enough to keep a check on prices, the latter has maintained that global crude oil prices and other worldwide factors are causing a hike in prices of petroleum products. (more...)
Ontario government to introduce legislation today regulating recreational pot Ontario government to introduce legislation today regulating recreational pot
- September 30, 2018

Those licences can not be transferred or sold, and the government intends to ensure that no companies end up dominating the potentially lucrative market. "There will be, I'm sure, a lot of applications to the AGCO and they're going to have a lot of work in order to do the due diligence that's required", said Attorney General Caroline Mulroney". (more...)
Chicago housing market undervalued, UBS index says Chicago housing market undervalued, UBS index says
- September 30, 2018

Hong Kong is first on the ranking, followed by Munich, Toronto and Vancouver. Overall, the index scores for the USA cities in this study are below their 2006 peak values. Property markets can be "mispriced or overpriced for many, many years", Woloshin said. While prices aren't rising as fast as in prior years, affordability remains a key concern. (more...)
BMW i3 Boasts Bigger Battery, More Range BMW i3 Boasts Bigger Battery, More Range
- September 30, 2018

When launched in 2014, the i3's battery pack provided 60 Ah and 22.6kWh, while the second-generation battery introduced for 2017 offered a capacity of 94Ah and 33kWh. Developed in partnership with Samsung, BMW says the new batteries will provide a real-life range of 160 miles - nearly 30 per cent more than the previous 94Ah model. (more...)
Facebook says sophisticated hack exposed data from 50 million user accounts Facebook says sophisticated hack exposed data from 50 million user accounts
- September 30, 2018

Facebook security team discovered the security issue on Sept 25, and it has now fixed the vulnerability and informed the law enforcement. Facebook's CEO says the company is working with the FBI to investigate this security breach. If you're concerned about your own account or data, you can visit Facebook's Security and Login section. If you had to log back into your Facebook account and were wondering why, a massive security breach is to blame. (more...)
Justin Trudeau says Canadians are tough negotiators Justin Trudeau says Canadians are tough negotiators
- September 29, 2018

The text will flesh out an agreement in principle reached by the United States and Mexico on August 27 that aims to rebalance automotive trade between the two countries and modernize the 1994 NAFTA pact with new chapters on digital trade, stronger labor and environmental standards. (more...)
LAX allows marijuana in airport; TSA says it's still a crime LAX allows marijuana in airport; TSA says it's still a crime
- September 29, 2018

Passengers 21 and older are now legally allowed to carry a maximum of 28.5 grams of the flower or 8 grams of the condensed variety. LAX's marijuana policy states that airport police allow passengers to travel through the airport with the legal amount, noting, however, that federal law prohibits the possession of marijuana, including in federal airspace. (more...)
Bed Bath & Beyond plunges on awful sales; Stock at 18-year low Bed Bath & Beyond plunges on awful sales; Stock at 18-year low
- September 29, 2018

Sales were flat at $2.94 billion, a bit shy of the $2.96 billion that was anticipated. "The blunt truth is that Bed Bath & Beyond simply hasn't been up to the job of converting the momentum seen elsewhere in retail", Saunders wrote. One of the greatest investors of all time, Peter Lynch, is quoted as saying: "insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise". (more...)
SurveyMonkey shares soar 56 pct in market debut
- September 29, 2018

According to CNBC , Salesforce Ventures will purchase $40 million of stock, in addition to investments from Tiger Management and others. SurveyMonkey is older than many of its newly public peers, having been founded nearly two decades ago. (more...)
Long trade war would hurt United States more than China Long trade war would hurt United States more than China
- September 29, 2018

Trade war may boost Chinese economy & hurt USA growth - ECB The United States will have most to lose if it starts a trade war with other countries, while China would be better off after retaliating, research from the European Central Bank shows. (more...)
Deals: National Coffee Day 2018 Deals: National Coffee Day 2018
- September 29, 2018

Krispy Kreme: Free coffee of any size, no coupon needed. Target , Kroger , and Dollar General are also offering discounted bottled McCafé Frappé beverages in stores nationwide. Caribou Coffee: Any food purchase comes with a free coffee! Get any size McCafe brewed coffee for $1 or a small McCafe espresso for $2. Cinnabon: Free 12-ounce coffees at participating Cinnabon Bakery locations. (more...)
Geron shares tumble after Janssen Biotech ends collaboration on imetelstat drug program Geron shares tumble after Janssen Biotech ends collaboration on imetelstat drug program
- September 29, 2018

The deal officially ends Friday, after which Janssen will return the rights to the imetelstat program to Geron, according to a statement. The IMerge trial is testing imetelstat in transfusion-dependent patients with low or intermediate-1 risk myelodysplastic syndromes. (more...)
CBS subpoenaed by NYC district attorney on Moonves CBS subpoenaed by NYC district attorney on Moonves
- September 29, 2018

Securities and Exchange Commission. CBS is facing a pair of investigations in NY state after being subpoenaed regarding sexual harassment claims against former CEO Les Moonves , other top leaders and workplace culture issues. Fager was sacked after he texted a CBS News reporter to "be careful" when she questioned him about reports that he tolerated an abusive environment at the newsmagazine. (more...)
Fuel Prices Continue Upward Surge, Petrol Breaches Rs 83-mark In Delhi Fuel Prices Continue Upward Surge, Petrol Breaches Rs 83-mark In Delhi
- September 29, 2018

While the Opposition has blamed the Centre for the rising fuel prices , the Government has continued to insist that global crude oil prices and other worldwide factors are causing a hike in prices of petroleum products. There has been a demand to bring fuel under the purview of Goods and Services Tax (GST) to bring down the prices. A litre of petrol was purchased at a price of Rs. (more...)
HSBC hikes Hong Kong lending rate for first time in 12 years HSBC hikes Hong Kong lending rate for first time in 12 years
- September 29, 2018

HSBC Holdings Plc raised its main lending rate in Hong Kong for the first time in more than a decade, closing the chapter on an era of ultra-low borrowing costs that sent property prices skyrocketing. Hong Kong Financial Secretary Paul Chan warned of the risks posed by rising interest rates. The HKMA yesterday raised its base rate to 2.5% from 2.25%, following a 25bps move in Washington. (more...)
VW Teams Up With Microsoft To Develop Digital Services VW Teams Up With Microsoft To Develop Digital Services
- September 29, 2018

VW will channel all of its digital offerings through Microsoft's Azure software, creating the world's largest automotive cloud of its type in an effort that'll help streamline future developments, the Wolfsburg, Germany-based company said Friday in a joint statement. (more...)
Facebook Exec Fires Back at WhatsApp Founder Facebook Exec Fires Back at WhatsApp Founder
- September 29, 2018

Brian Acton , who co-founded the business with Jan Koum in 2009, has spoken for the first time about his unease with Facebook's intentions for WhatsApp following its sale for $16bn (£12bn) in 2014. "There are people I respect on both sides", he said in a 13-part Twitter thread, which you can read here . "It's better if I get out of your way". (more...)
US, Japan Agree to Start Negotiations on Bilateral Free-Trade Pact US, Japan Agree to Start Negotiations on Bilateral Free-Trade Pact
- September 29, 2018

Trump's trade wars: is Japan the next ally in USA president's sights? "The United States and Japan will enter into negotiations, following the completion of necessary domestic procedures, for a United States-Japan Trade Agreement on goods, as well as on other key areas including services, that can produce early achievements", said the statement issued by the White House. (more...)
"I'm not going anywhere.... Versace will remain Italian" - Donatella Versace
- September 29, 2018

Volume is an extremely useful tool, and as you can see, there are many ways to use it. Trading volume is an essential technical indicator a shareholder uses to confirm a trend or trend reversal. The company has a market cap of $10.16 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.98 and a beta of 0.11. Beta/Volatility: A beta factor is used to measure the volatility of the stock. (more...)

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