Business News
Tesla engineering head Doug Field steps down
(Reuters) – Tesla Inc said on Monday Doug Field, senior vice president of engineering, is stepping down after five years with the electric carmaker.
Year: 2018
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Tesla Pauses Some Model 3 Output After Hitting Target
Tesla Inc. is scheduling a break for some Model 3 production after exceeding a closely watched target for the final week of the second quarter, according to people familiar with the matter. The break won’t impact production targets and will allow the company to do basic upkeep and maintenance work. Tesla reported earlier Monday that Model 3 output reached 5,031 in the final seven days of June, beating a 5,000-car target that Chief Executive Officer Elon Musk had said was crucial to generating cash and earning profit. …read more […]
Business News
Top U.S. business group assails Trump’s handling of trade dispute
WASHINGTON (Reuters) – The U.S. Chamber of Commerce on Monday denounced President Donald Trump’s handling of a global trade dispute, issuing a report that argued the tariffs imposed by Washington and retaliation by its partners would boomerang badly on the American economy.
Business News
Wall St ends up slightly; tech gains offset energy losses
NEW YORK (Reuters) – U.S. stocks ended slightly higher on Monday as gains in Apple and other tech shares helped offset a slump in energy as well as concerns about an escalating trade war between Washington and its trading partners.
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Seadrill Ltd Stock Down 42% Today: Don't Say You Weren't Warned (but There's Hope Going Forward)
The offshore driller announced it is emerging from Chapter 11, and the market is finally applying a more realistic valuation to its shares. Keep reading to find out what’s happening. …read more […]
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Trump threatens action on WTO after reports he wants to withdraw
U.S. President Donald Trump threatened to take action against the World Trade Organization on Monday after media reports said he wanted to withdraw from the global trade regulator. Trump has complained frequently that the United States is treated unfairly in global trade and has sharply criticized the WTO for letting that happen. “WTO has treated the United States very badly and I hope they change their ways. …read more […]
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Car prices would soar under Trump's latest tariff plan
Trump seems to be getting closer to imposing new tariffs on imported cars, a move that would roil the auto industry. …read more […]
Business News
Wall Street choppy as investors worry about trade war
(Reuters) – Wall Street was mixed in choppy trade on Monday as investors fretted about an escalating trade war between Washington and its trading partners, while gains in Apple and other stocks offset a slump in energy shares.
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CFRA downgrades Tesla, says production rate not financial…
Efraim Levy of CFRA explains why he downgraded Tesla to sell earlier today. …read more […]
Business News
Dell moves to go public, spurns IPO
(Reuters) – Dell Technologies Inc said on Monday it would pay $21.7 billion in to buy back shares tied to its interest in software company VMware Inc , paving the computer maker’s way back to the public market without an initial public offering.
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Dell moves to go public, spurns IPO
Dell said the cash and stock deal will value its equity at between $61.1 billion and $70.1 billion, more than twice the $24.9 billion that founder and Chief Executive Michael Dell and buyout firm Silver Lake paid to take company private in 2013. The transaction will allow Dell to bypass the traditional IPO process, which would likely have involved grilling by stock market investors over its $52.7 billion debt pile. It also means Dell will not have to raise any new money, because it will pay for the deal by issuing new shares and a $9 billion dividend …read more […]
Business News
Wall Street lower as energy stocks, tariff worries weigh
(Reuters) – U.S. stocks fell on Monday as a drop in Brent crude prices dragged energy stocks lower amid a broader market decline due to an escalating trade war between Washington and its trading partners.
Business News
Tesla shares fall despite hitting Model 3 production target
(Reuters) – Shares of Tesla Inc reversed course to trade down 4 percent on Monday after Wall Street analysts questioned the electric carmaker’s ability to maintain an increase in production that helped it meet a long-elusive target of making 5,000 Model 3 vehicles per week.
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Tesla built 20% of last week's Model 3s in its fancy new tent
Tesla hit a key milestone in the second quarter, managing to hit a 5,000-per- …read more […]
Business News
U.S. fund managers zero in on software as tariffs upend tech sector
NEW YORK (Reuters) – Worries that a broadening trade war between the United States and China will upend the global supply chain are prompting some U.S. fund managers to buy shares of companies they believe will shield them from such disruptions.